Unemployed for 1 year, feeling hopeless
Grew up in a poor, single-parent household. First-gen college student. Worked two part-time jobs just to afford school. Everything I did was focused on getting myself and my family out.
Somehow, I made it to Wall Street. I gave up everything for the job. Was up for VP. Thought I was finally on track. Then I got laid off.
Now I’m sitting here months later unemployed, watching all my friends continue to advance their careers while I'm trying to figure out a direction. I've been through a few processes (IB/PE/corporate finance/IR/etc) but have either been rejected or the position gets pulled a few rounds deep.
I regret not enjoying college, not exploring interests, not giving myself a chance to be a human being and I am feeling so lost. Anyone have any advice?
It’s clear you’ve worked incredibly hard to get where you are, and while this setback feels overwhelming, you’re not alone in this struggle. Based on the most helpful WSO content, here’s some advice to help you navigate this tough time:
Reframe Your Mindset:
Many users on WSO have shared similar stories of setbacks, layoffs, and rejection. It’s important to remember that this is not a reflection of your worth or abilities. As one user put it, "Sh** happens that you have no control over, and the worst thing to do is blame yourself." Focus on what you can control—your daily actions, mindset, and persistence.
Create a Routine:
Structure your day to maintain productivity and mental health. A highly rated suggestion is to wake up at the same time daily, have a healthy breakfast, and dedicate focused "sprints" to job applications and networking. Avoid passively browsing LinkedIn all day—set specific goals for each session.
Expand Your Search:
While IB/PE may be your primary focus, consider adjacent roles or industries where your skills are transferable. Corporate finance, investor relations, or even roles in tech or startups could provide a stepping stone. As one user noted, "Candidates with former IB experience are looked on very positively in other industries."
Network Strategically:
Networking is key, but it’s not just about cold emails. Reach out to alumni or former colleagues and ask for informational interviews. Build genuine connections by asking thoughtful questions and showing interest in their experiences. At the end of the conversation, ask if they know of any opportunities or can connect you with someone else.
Focus on Self-Improvement:
Use this time to sharpen your skills or explore new ones. Take online courses, work on financial modeling, or even start a side project. This not only keeps you engaged but also adds value to your resume.
Take Care of Your Mental Health:
It’s easy to spiral into negative thoughts, but staying mentally strong is crucial. Exercise, meditate, or find a hobby that brings you joy. As one user shared, "Be sad and pissed for one more day, then get back on the computer and start firing off resumes." Allow yourself to feel, but don’t let it consume you.
Stay Persistent:
One of the most inspiring pieces of advice from WSO is this: "If I could tell you exactly how many times you'd have to try and fail before you finally broke through, you'd keep going until you hit that number." The breakthrough will come—it’s just a matter of persistence.
Lean on Support:
Don’t hesitate to reach out to friends, mentors, or even forums like WSO for advice and encouragement. As one user said, "Know people are here for support. Don’t be afraid to reach out to just talk through it."
Remember, this is a chapter in your story, not the whole book. You’ve overcome immense challenges before, and you have the resilience to do it again. Keep pushing forward—your next opportunity is out there.
Sources: Honestly it is feeling hopeless, 9+ months of unemployment and feeling cursed…, Looking for Perspectives on Unemployment, What am I doing wrong? Unemployed and Looking for 8 months now
bump similar position, tough being a mid level in this market
Hey not sure I can share much insight as I recently started my career after a year of full time recruiting to land my ideal gig in RE as an Investment analyst. But here is my two cents.
Especially as it relates to the comment about watching your friends and their careers progress (been there). One thing I have come to realize this past year is that life is not a race, there is no urgency to speed run your retirement and subsequently death.
Obviously continue job searching, perseverance is what separated those who are hungry for it and those who are not. But don’t forget to live, spend time with family, spend time with friends. Do things you enjoy doing that you previously didn’t have time for. These things will keep you sane but will also be the things you remember and what brings meaning to life (for example I started playing tennis again regularly).
Work at the end of the day is work, and it should not define who you are to your loved ones.
FYI the job market is terrible across the board (from all the networking I’ve done the last year) on all levels of seniority, but adversity helps us grow.
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