Laid-off Analyst, any ways back into IB?
Laid-off 2nd year analyst from an EU BB in London, it's been over 6 months andpretty hard to find a new job. Mainly due to a combination of small number of processes (under 6) and a really competitive landscape.
Studied something vocational and non-finance related, about to start a job there soon in a few months, Is there any way back in the industry from there, or best just to move on?
Any tips to maximise my chances of returning?
What’s the layoff story? Why return to banking
The layoff story is definitely important as another user has pointed out - for example, you could be one of the UBS / CS analysts from your post, which might make things easier.
Another point to ask is what your recruiters are saying? I'd say that if you're not speaking to 5 - 10 recruiters at least and getting some feedback, you're doing it wrong. I know that junior level recruiters (Dartmouth, Linear, etc.) get a bad rap on WSO, but they can definitely be helpful if you use them in the right way. I'd also keep a very broad net if you're not doing that already - from a top BB background, I'd think you should get traction from smaller shops.
I think recruitment will definitely step up next year once budgets are set - there's definitely a rebound in market activity. That said, if you'll be out of work 12 - 18 months, then that's tough.
If you're motivated to get back into the IB industry specifically, consider starting again from the bottom. I know that's disheartening, but looking for a role in something truly adjacent (your vocational role you say is totally unrelated) might be a way back in (for example, audit, a PE internship, or even a MSc or MBA).
Good luck
OP here,
Return to Banking for the money lol, also the outside is no better and there seems to be a slown down in most professional jobs and you deffo feel exploited in any job.
My traction from smaller shops has actually been the worse lol, predominantly had buy-side deals during my stint so that is a barier for some shops too
The timeline is the real problem here, because I believe there is no use hiring someone that hasn't done the job for over a year.
The recruiters have not been really useful tbh, I think there is also not much going around on their side and they have a bunch of peeps to choose from atm so acting boogie. Also always trying to align you with your previous coverage and when your sector is not really hot, you can't do much
An MBA sounds like the best option at this point if things dont improve lol.
Story wise, I was part of the 2 banks mentionned above
Same thing happened to me, sorry. I was an AN1 going to AN2 maybe 10 month's in. It sucks.
What happened, have you managed to find a new role?
OP - what happened/ what is your current situation/ plan ?
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