Coming up on 5 months since I've been laid off from a valuations role at a public accounting firm. I'm 3 years removed from undergrad and I had a few contract, back-office ops roles prior. Given the current market, I was wondering what's an acceptable time frame to be laid off / unemployed (for new graduates). I read one person on WSO say 6 months is when employers start weighing it against you, especially those who were affected by layoffs.
In terms with handling unemployment, I also hear conflicting messages about what to do during this time.
One comment says to explore your interests, do some self development, spend time with friends and family, etc.
You're not alone man, I'm in a similar situation and empathize with the struggle. I don't have a success story to share yet but hopefully we can post here when it all works out.
My advice - and what has been keeping me sane - is to try to stick to a regular schedule where you wake up at the same time each day, have a healthy breakfast, exercise, and then hit the apps / networking emails for a couple hours. Realistically you can't spend all day applying or networking, so try to work in "sprints" (i.e., focused, intense sessions where you're only working and not multi tasking). I do one of these sessions in the morning when I'm fresh, and one in the afternoon. It's easy to spend the whole day just browsing LinkedIn passively and not getting much done, so I would try to avoid I try to avoid that as much as possible (makes you feel like shit at the end of the day, you question how productive you were, negative thought spiral ensues, etc.).
You've probably heard this before as well, but spend as much time with friends and family as possible. It's important to continue to be social and be around people that make you feel good. That way, when you go in for an interview you can still give off energy and positivity because you've been socializing regularly.
Last thought: depending on your financial situation, you can also use this as a time to explore interests and become a more well rounded person. As much as it is stressful being out of the workforce, I'm also trying to enjoy the time off and use it as a period to upskill. I've been taking French classes, building back strength at the gym, and re reading the Lord of the Rings. Never had this much time on my hands when I was working and it's refreshing to be able to have complete control over my time and schedule.
Hang in there man. In 10 years, you'll look back on this and be thankful for the hard work and perseverance - I'm confident you'll be back on your feet in no time.
Another comment says "only time it looks poor is if you spun it has you applied nonstop for jobs for months, got turned down, did nothing all day, etc."
MonkeyNoise
Just have a reason for a gap. Doesnt even have to be that good to be honest. this is one of those things early in my career I panicked about, but later on see it doesnt really matter.
If you tell a future employer that you took 6 months off to travel the world, wanted to do it while you were young, and you learned X that can translate into a professional setting (how to strike conversation with strangers, self reliance, importance of planning, really anything) then you will get more "awesome, Im jealous" than "that's a red flag"
Or if you tell an employer you used that time to pursue some other venture (non profit, starting your own business, etc. - even if it sucks and bombed - can again translate these to work pretty easily)
If you are older you can say you had to take time to focus on family. Dont lie, but can be vague, people understand life can throw hooks at you (ex: taking care of ageing parents, sick family member, kid needs more personal attention, whatever)
Only time it looks poor is if you spun it has you applied nonstop for jobs for months, got turned down, did nothing all day, etc.
So if 6 months (or XX months) is when it begins to reflect poorly on you, how do you even focus on other priorities such as hobbies when you feel need to focus on job searching? Regarding the 2nd comment, I've been searching every day for the last 5 months with no success. I've traveled here and there but I'm feeling pressured to find a job. Does that mean I look like a worse candidate because I decided to focus my efforts on searching rather than on personal development?
Based on the most helpful WSO content, it seems that there isn't a hard and fast rule about how long it's acceptable to be unemployed. However, some people on the forum have suggested that after about six months, employers might start to question the gap in your employment history.
In terms of handling unemployment, it seems there are two main schools of thought. One is to use the time for self-development, exploring interests, and spending time with family and friends. This approach can help keep you sane and maintain your social skills, which are important for when you start interviewing again.
The other approach is to focus on job searching and networking. This can be done in "sprints" of focused, intense sessions of applying and networking, with breaks in between. This approach can help you avoid feeling like you're not accomplishing much, which can lead to a negative thought spiral.
As for whether focusing on job searching rather than personal development makes you look like a worse candidate, it seems that what matters most is how you spin your unemployment period. If you can show that you've been proactive, whether that's through job searching, learning new skills, or pursuing a passion, that's likely to be viewed more favorably than if you've been doing nothing.
Remember, it's okay to take some time for yourself during this period. It's a stressful time, and taking care of your mental health is important. And who knows, you might pick up a new skill or hobby that could make you an even more attractive candidate!
Keep your chin up, keep hustling, and remember that this is just a temporary situation. You'll get through it!
Sources: Looking for Perspectives on Unemployment, https://www.wallstreetoasis.com/forum/investment-banking/just-got-laid-off-now-what?customgpt=1, Laid off, Depressed and Giving up..., Has anyone here been unemployed for 3+ months?
I agree with Weewoo's comment. I have found myself unemployed what weewoo said has been good advice. The uncertainty can be scary for sure. Also, I would lean on whatever career resources you have access to (university services, local government services, etc.). Recruiters have to hire somebody, they have bills to pay too. I moved back into my parent's house.
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