Fired as an A2 - what now???
Hi everyone,
I have just been let go today as an analyst 2 at a small boutique in London (with just over a year of experience under my belt).
I know of a couple of other guys in my class that were fired this week before the mid-year review, and it seems to be a case of downsizing before the potential recession.
I'm just so shell-shocked what do I do now, there was no meeting before this about my performance I was just told to sign some documents and escorted out of the building.
Should I just start recruiting for another job in IB (I don't know how successful I will be with the lateral market being colder than last year). Where do I even begin?
Sorry if this seems incoherent I just needed to get my thoughts down on paper and was just looking for advice.
Very sorry to read that! Last time I scanned LinkedIn there were still a ton of m&a openings posted by headhunters, start there.
Maybe take a day to calm down and craft your story and deal exp talking points so that you sound solid. Don't call up any headhunter if you're not in a confident/ready state of mind
Thank you, really appreciate the comment, is it recommended to be 100% transparent with recruiters and let them know I've been let go.
No, don't tell them you were let go. Within the agreement (?) which you signed, did it have any details on if they will actively disclose the reason for leaving the firm?
I would position it as the company is downsizing in anticipation of a recession so it feels like it's beyond your control. Sorry to hear but yes, hit the ground running and you will be back at a desk before you know it.
Thank you appreciate the kind words
Happened to me at brink of Covid. Like others take the time to reflect, polish up, and game plan (1-2 months or whatever, honestly enjoy the down time, but maybe max 1 month given the new environment). Find banks you like and hit VP and above on LI (don’t waste your time with juniors). I hit MDs and had far better traction. When the interview connects, knock them dead. Chin up, you’ll be ok.
Cheers, really appreciate the advice, yeah definitely think I need some time to just clear my head and then will make the rounds on LinkedIn haha
I would definitely recruit for banking jobs. You’ve got experience that is directly transferrable, which moves you to the top of the pile for almost all shops.
That way when you eventually do exit banking it’s a clean story, and nobody will get confused as to if you left because you want to leave or because of the downsizing.
I was let go from a large public IB team after 6 months due to downsizing ahead of a merger between my bank and another large public bank. Now I'm 10+ years in the industry with a much better firm.
You will land on your feet, everything happens for a reason. Keep your head up, polish your interviewing skills, and hit up the headhunters when you're ready.
BB&T?
he said he's been working for 10 years so probably not the 2019 BB&T merger
EDIT: to the retards MS'ing me, do you realise that I was right and I actually read the guys comment correctly??
He's been working for 10 years =/= it's been 10 years since he got canned fuckface
Ya but you got called fuckface by a guy with a Bugs Bunny profile pic
prob one of the banks that went down in financial crisis or soon after given dates
Echoing the above - stop saying fired. You were laid off; there's a big difference.
- Take time to relax and recuperate (important)
- Get your story down - practice the delivery of it
- Do not apply to similar sized boutiques / direct competitors. They are more likely to take more of an issue with what happened, and are the least well prepared / patient places when it comes to developing staff. Aim for larger banks that haven't heard of your previous place
- Stay sharp during the interview process. Read news and brush up on skills for case studies
-
Get drunk, smoke a joint, tindering and fuck some chicks tbh.
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