I was laid off in the spring and have struggled to find another IB role. The summer was quiet but it feels like the market might be improving. I was recently offered a role covering the same industry as a consultant and I’m torn on whether or not to take it. At what point should I be open to non-IB opportunities if the goal is to move back to ib when the market improves? How are others who have been laid off navigating the current market?
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If it's MBB or one tier below, I would take it. 6 months is around the point where you will start struggling to get interviews because of the gap and sounds like you're coming up on that. Consulting is a decent gig and you might learn some more about the industry/clients from a strategy side that could be useful in IB. Spend a year in that role and then see where the market's at - but I think waiting around for IB to open back up is kind of a fool's errand right now. Supply still >>>> demand so any IB roles that open up will have dozens of qualified candidates to choose from, not wise to sit around for months for that.
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