Know I'm about to get fired.. help pls
Posting from a new account for anonymity..
I'm a year and a half out of college at a mid-sized firm in equity research and I've found out through very reliable (confidential) sources that I'm about to get the ax in the next week or two dependant on factors that are up in the air. There may also be one or two senior people being cut at the same time as the firm/department is looking to trim costs. It's a combination of high expectations from my superior, not having a great relationship with said superior (not bad on a personal level, but he/she is very tough when it comes to business), being newer and more junior than others at my firm, and the overall reduction of headcount (although unclear if it's just one or two senior people that will be let go because of failure to meet certain goals or a more overall reduction in headcount).
My question is, has anyone has experience with knowing something like this before? Seems like a better move to quickly give notice now and leave than to stay and get the ax? (In terms of finding another position) Although it's imminent, so I'm not sure if there's two weeks to give notice for? Bonuses were just recently paid, if that makes a difference.
It's 100% going to happen in the next "week or two", so just curious as to anyone's thoughts or advice here. This is my first position out of college and was very hard to get, not sure if I'm going to stay in the industry but would like to keep my doors open. My boss would likely give me an okay recommendation if I walk away, but my source told me that if I'm officially fired/let go (not sure if there's a difference between the two) it'll be much harder for him to do that.
Thanks all fellow monkeys!
Also, any advice on next moves? What are some opportunities to aim for with a background of 1.5 years in equity research? (Potentially looking for something less demanding at this point, might have to be more flexible if walk away without anything in hand)
Sorry for all the questions, just found out about this and trying to evaluate the situation.
Thanks!
Don't quit; you won't get any sort of severance package if you leave voluntarily. It also will have unemployment benefit implications.
Start preparing for your exit; update your resume, start looking for jobs and reaching out to your network, all that good stuff. Don't worry too much about the recommendation thing; it's not that relevant nowadays.
Go take care of all health-related issues pronto, you dont know when you'll next be covered.
Upside you find out you have a larger health issue - no one with a serious illness ever gets fired. The legal liabilities are too large.
Agree with others, if you leave voluntarily you lose out on a lot of money. Start brushing up your resume, reach out to headhunters and alumni, and think about what you really want to do next if equity research is not your cup of tea.
As others have said, you do not want to quit because you won't be entitled to any benefits.
I wouldn't worry too hard... 1.5 years of ER exp is pretty solid. You can look into corp dev type of roles.
Update: what if not let go for headcount but fired for performance? This would leave some type of mark in my records? Better to leave first?
Thanks again all monkeys
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