Interviewing after getting laid off

Hi everyone, I was recently laid-off as a first-year analyst at a lower-tier bank. My position was affected due to RIF layoffs throughout the bank, especially in my group. I am confident that the reasons for my layoff were not performance related as I had solid reviews from those that worked with me. I do not have any deal experience and mainly worked on pitches that did not go anywhere. I am starting to apply to jobs again this week but I am afraid that recruiters and those interviewing me will see me as less capable for the position because of my situation. 

Would love to hear any advice or what you guys think I should do when explaining my situation to recruiters. Thanks in advance!

Comments (8)

Most Helpful
Lockwood, what's your opinion? Comment below:

Honestly people get the situation.

Don't sweat it. Just be open to role level and try to secure a decent role with some security.

Make sure you spend your time brushing up on technicals and modelling. 

TMT M&A - London
  • 7
Kevin25, what's your opinion? Comment below:

I've heard about taking a dump before the interview, but getting laid may be even better.

  • 1
  • Analyst 2 in IB-M&A

Most people are more understanding than you think. It's not your fault, just work hard and walk through the deal rationale, valuation, technicals and any sector knowledge you may have built up in your interviews. Most importantly, be patient and don't expect a new job to come through immediately. It may take a few months. Lateral hiring picks up in June.

  • 1
BuysideHustle, what's your opinion? Comment below:

I wasn't laid off, but a long time ago I quit a job at a large multi-manager to join a startup fund that blew up after two months. Felt really defeated at the time to the point where I questioned whether investing was right for me, but looking back I'm really glad I kept at it looking for a buyside role that fit my investing approach.

Focus on what you want to do next, create a plan and then every day carve out 5 hours or so and focus entirely on getting that job you want. Everyone knows the industry is at a rough spot right now, so in interviews just be honest on what happened at your prior bank. Play up your experience - even though you worked on just pitches you don't have to say you worked on just pitches.

At the end of the day, you need to be able to sell yourself and your experience - just don't bend the truth too much to the point where the interviewer can easily see through the BS. Careers don't go up in a straight line, one day you will feel on top of the world, and then a few years later you will feel completely defeated. Just keep at it and think of all this as something that was completely outside your control and was bound to happen at some point. 

A few helpful resources below: 

jenkinscooper, what's your opinion? Comment below:

Consequatur saepe non saepe. Atque est facilis ipsam rem repudiandae sit aut qui. Reprehenderit aperiam id quia quas praesentium.

Start Discussion

Popular Content See all

Career Advancement Opportunities

January 2023 Investment Banking

  • Lazard Freres (+ +) 99.5%
  • Jefferies & Company (▽01) 99.1%
  • Lincoln International (▽01) 98.6%
  • Financial Technology Partners (▽01) 98.1%
  • William Blair (▲08) 97.7%

Overall Employee Satisfaction

January 2023 Investment Banking

  • Canaccord Genuity (▲04) 99.5%
  • William Blair (▲04) 99.0%
  • Lincoln International (▲09) 98.6%
  • Jefferies & Company (▲06) 98.1%
  • Financial Technology Partners (▲09) 97.6%

Professional Growth Opportunities

January 2023 Investment Banking

  • Financial Technology Partners (▲10) 99.5%
  • Lazard Freres (▲17) 99.1%
  • Lincoln International (= =) 98.6%
  • Jefferies & Company (▽03) 98.1%
  • William Blair (▲01) 97.7%

Total Avg Compensation

January 2023 Investment Banking

  • Director/MD (6) $592
  • Vice President (23) $401
  • Associates (134) $264
  • 3rd+ Year Analyst (9) $194
  • 2nd Year Analyst (80) $172
  • 1st Year Analyst (257) $171
  • Intern/Summer Associate (41) $167
  • Intern/Summer Analyst (185) $91