Hello all - I was recently laid off from a top BB coverage group yesterday. It came out of nowhere, I really enjoyed my job, my performance reviews were great, and I was generally well-liked in the group. I have absolutely no clue what to do.
I'm currently in the middle of interviews with multiple MF / UMM PE firms, but I feel like any chance of me converting has been nullified. Any advice would be much appreciated.
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Credit suisse?
Nope, similar 'tier' though.
Didn't know others in that tier or what not were doing layoffs, but I'm sorry to hear it. Barclays maybe?
Don't see tons of harming in saying which firm, but maybe that's just me
This is stupid. Why does it matter? OP is asking for advice not for some intern who likes gossip try to get the name of the firm. Grow up.
Not actually an intern, and knowing the firm could be helpful...
This post struck me and wanted to share some thoughts for this year. I've been through a few of of these cycles, 08/09, 2013, 2016, early 2020. Unfortunately this is a natural part of the banking cycle, ramping up and winding down headcount and capacity. With all of 2021s boom, 2022 was a bust and hopefully followed by a positive 2023. While you'll have some good years, you'll have the bad ones as well, and that means everything from being laid off to a poor bonus. If you want to be successful in this job long term, and want to do it for the long haul there's a few things to take away from this experience. This is not forever, losing this job is not the end of the world and does not make you unemployable.Use this as a learning experience, what could you have done better, what are some skills you'd like to work on in your next job. Be more engaged, attention to detail, communication, etc. whatever it is, don't beat yourself up, just learn from it. You WILL get another job, so keep your chin up and something will come along. The career is a bumpy road, you'll be hard pressed to find an MD who hasn't been through something similar. A BB is not the end all be all (I've worked at BB and EBs). Folks in college or right out of school are concerned only with brand name, and once you hit the desk and are out there with clients, there is far more than brand name, so as you start looking, find a place you feel is home and can build a career. Good luck
Why have your chances been nullified? Do they need to know?
Usually you're allowed to say you work at the firm through the severance period, whatever that is for you. otherwise, just be honest. i wouldn't try to tip toe around it people should understand this environment
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