IB laid off due to Covid - Suggestions?

Hi all,

I'm reaching out for some advice as I am in a predicament. Hopefully someone else will get some utility out of this post too. Due to current macro-economic conditions resulting from Covid, I was told that I am being let go of and my last day will be May 15th. My firm is a sector-focused micro boutique with a few partners, a VP, and myself (an analyst). We do almost all strategic M&A advisory and had great deal flow up until the middle of March. We went from 7 deals to 1 in a matter of a couple weeks and my boss has told me there are no prospect of of those deals coming back any time soon. Good news is I did not plan to be here long term and will have glowing reviews from the firm. I managed to secure an interview with a LMM bank in a similar vertical and made it past first round HR call, but have not heard back in a couple days. I would be stoked to take this position, but am in no way guaranteed an offer. My current shop is my first job out of undergrad and have worked for significantly below market pay, so I do not have much saved up. My goal is to stay in banking and learn as much as I can. I enjoy the process as psychotic as that sounds and don't really care about prestige or ending up at a BB/EB.

I know debt RX is quite hot right now, so i'm studying up on that (reading Moyer, Houlihan Lokey case study, etc.) I was supposed to have 2 upcoming debt RX interviews, but the recruiter who reached out to me with the opportunities has not been in touch since (go figure?). I want to try to time my transition out as well as I can, but in the event I don't receive an offer at the LMM, what is my best course of action?

Should I tell firms whom I intend on interviewing with my current situation? Should I offer to work for free at my firm until I land on my feet somewhere else? Should I look beyond banking? What can I do to get more interviews and who is hiring in these times?

I network a ton and is how I ended up at my current shop (I graduated unemployed). I went to a non-target, but my resume is pretty good. I don't have an ideal goal, but i'd really like to be in my sector focus long term. No doubt this could change, but there are huge growth opportunities and I am passionate about it.

Any feedback would be much appreciated. Thanks all, stay safe.