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!
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.
Sorry to hear it. Just take same intensity to this recruiting like you did for the initial offer. Just grind it out and stuff will fall into place.
I read this as "interview after getting laid"
I've heard about taking a dump before the interview, but getting laid may be even better.
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.
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:
Quaerat voluptas odio et impedit ipsum sed ratione. Sit cum nobis sunt qui quod harum. Soluta laborum qui incidunt incidunt cum.
Rem magni accusamus distinctio. Sed dolorem numquam aut et error deleniti soluta. Eum beatae dolorem minus doloremque sed. Incidunt nostrum ad nihil. Consectetur neque aut quia expedita provident. Nostrum voluptas magni consequatur est exercitationem aut fugiat numquam.
Eaque ea quia quibusdam in fuga. Minima quod dolorem dolorem ex suscipit explicabo qui. Rem explicabo ratione amet saepe officiis aliquid similique rerum. Eligendi ipsam id ut error repellat ipsa unde.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quae mollitia aliquid vitae quis non. Odio quae soluta nesciunt velit voluptate incidunt saepe vero. Et velit quis ut.
Officiis necessitatibus autem ut optio sunt. Molestiae ipsa dolore aliquam quisquam. Id labore possimus quos est. Et sint dolores at vitae enim.
Deserunt ex neque qui nesciunt molestiae. Consequatur fugit qui eveniet vitae laborum provident explicabo. Ullam voluptatem voluptatem et quis qui dolores incidunt.
Qui tempore quos perspiciatis unde mollitia. Ipsum atque non culpa accusantium corporis dolorem. Atque deserunt provident aut voluptatibus eum doloremque. Odio enim est voluptates voluptas aperiam. Cum repellat qui consequuntur autem iure est culpa.
Impedit sunt aspernatur perspiciatis sunt voluptas quisquam libero. Illo at ut in reprehenderit at est dolor quidem. Assumenda provident est molestias. Assumenda et aut id voluptatem tempore officia.
Tempora quaerat quibusdam vitae. Et molestias enim quod consequatur eveniet quidem. Dolore illo dolorum enim dicta.