Any downside to applying for unemployment?
Saw several threads about job searches and layoffs in PE and was curious if anybody has thought deeper about filing for unemployment. I figured this might be a helpful topic to chat through with the community with more recent perspectives. The only downside I could think of is your former employer knowing you filed and their unemployment insurance going up. Would be great to hear more thoughts about pros and more importantly cons
If you actually got laid off and are eligible, you should absolutely file.
There's no downside - who gives a shit about the old employer, you are entitled to it and it's free money. You just have to meet very basic job search requirements, keep a log of your applications and interviews
I would recommend immediately applying. You basically already paid for it while you are working. It probably will not be enough for you to live comfortably but it will help your cashflow. Based on state, you can even get it if you had severance paid out.
Are there many firms out there actually laying off associates / mid-levels with like 3-4 weeks of notice?
Traditionally in the industry how it's been done is they let you know and give you a (very) extended runway to find another job... 6-12 months. Is that not the case anymore?
Of course you should apply for it. You paid the taxes. What downside are you worried about?
If it shows up on a background check (I don't think it does) would it be viewed negatively - i.e., "high earner" using unemployment. Also if I am relying on my old firm for references, would they be pissed I'm claiming unemployment.
No way would this be viewed negatively.
1). Unemployment is not shown on background checks.
2). No one is going to bring up unemployment in a reference
100% agreed with what everyone else here said. Nothing to worry about.
Absolutely no negative views here or background check hits.
Take what your taxes pay for. Even if you can afford to live without it, no high earner should leave money on the table.
No shame in the unemployment game.
If you are eligible, you should 100% apply for it. Period. Never leave money on the table. If the company's insurance goes up, sucks to be them. They should not have let you go if they cared that much about it
Veniam id porro perferendis quo consequatur quos. Voluptatem quia est cum modi ut quam quis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...