1st Year Analyst Laid Off - Next Steps?
I got laid off a few weeks ago from my IB role at a MM. Was in a top group but revenues really dried up once February came around. My lay off was not performance related and many other juniors met the same fate (old managers acknowledged my strong performance and are willing to help me / provide good recs). I studied finance & computer science at a target and finished with a fairly strong GPA (>3.7).
Networking is going alright so far, but the resonating message has been “you sound like a great candidate but we are on a hiring freeze.” My resume has gotten some bites but nothing materialized yet. Also considering whether I should use a recruiter or not - my experiences are hit or miss with them.
Guess I’m looking for some wisdom on what to do next / how to spend all this free time.
Main questions:
How bad does a job gap look during this time? Should I be focused on learning more technicals, modeling, etc for interviews or something else right now?
How long should I take before starting to be less picky with what I want (i.e. considering MO/BO roles)?
Any other advice would be great to hear, especially in terms of navigating the current job market.
Keep looking for opps with BBs/EBs but instead of MO/BO jobs, take a look at boutiques that would value your MM experience and pedigree. I'm sure there are many boutiques during this time that are rapidly growing or looking for people just like you. Take for example, Arma, FT Partners or GP Bullhound.
It'd be nice if you could specify the firm so as to not induce mass panic on the forums. Either way, you don't have an obligation. Best of luck in the hunt!