Taking a lesser job in COVID
Lost IB job due to COVID a few weeks ago. Have only had traction with unknown boutiques while anyone at EBs or BBs have said that even though they want to interview people, HR isn’t letting them yet. Would it be better to accept a role with a random regional boutique while I continue to look for another role? Or wait until things pick up and continue to network?
I have no interest in staying at an unknown regional boutique and would like to get into a good group to grow longer term career wise, but know that it can be easier to find a job when you have a job
While I have initial thoughts and am leaning towards not accepting something I know I don’t want and rush into a new opportunity too fast (seems obvious in a vacuum, but current circumstances are different), anyone’s .02 cents is helpful
Given the current environment, would suggest that if you can get an offer at a regional boutique, then go for it. Most places are unsure about what headcount needs look like given the pandemic, so it is better if you are able to not only start working again, but doing so in IB.
There is always the possibility you enjoy the firm you are with and if not, you can hopefully get enough experience to look into laterally when things start to generally improve in the hiring market .
wouldn't it be a red flag to immediately start searching for another opportunity elsewhere, and dramatically hinder your efforts to land in a place you want to be?
This environment kinda throws rules out the window (to a degree). This is the very unique circumstance where I can envision that happening (would try to stay for six months to 1 year before transitioning somewhere else).
Hey Man, I'm sorry to hear about that. I am in a very similar situation as I lost by MM IB job right before graduation. I have been searching and networking the last month and there is very little traction anywhere so far. If you have good experience in IB, I know turnaround consulting is hiring (A&M, FTI) if that interests you. I was turned away as they only want experienced people due to high demand. Turnaround consulting may look better than a regional boutique.
My current plan is to take a gap year and pursue extra certifications like the CFA and CPA while recruiting for 2021 roles. I'm not sure how many roles are going to be available but I don't really have a choice imo do to the current circumstances. I've been networking a lot the last couple weeks with alum, and no bank seems sure that they will have any FT 2021 positions. Good Luck to you on your search, and I hope you find something soon!
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