What advice do you have to give to incoming SA & FT?

I was wondering what advice more experienced members may want to impart upon incoming SA's and FT's? The job market now is more competitive than it has been in past years, so for people to have secured an SA or FT in these market conditions, fighting for significantly fewer spaces, is very remarkable.

Obviously the market is really difficult right now and there are lay-offs left, right, and centre. I think feeling intimidated by this is perfectly natural.

So I would like to ask the members of WSO just a few questions!

• What can an SA or FT do to make themselves stand out as to minimize their chances of being laid off?
• What best practices should an SA or FT pick up/show consistently in the current climate which might have been less of an expectation in past years?
• How terminal is a lay-off against a junior? Does it mean you will never work in finance again etc.? 
  • How are lay-offs considered for European/London bankers? Same as above - does it deal a fatal blow to your career?

Would be great to get some insight from those of you who know about this. :)