Laid off - how to position
I was in the process of wrapping up my 1st year at a BB. Unfortunately, my group did not generate enough revenue since there has been a strong lack of activity in the sector I covered, in addition to the firm reducing headcount/restructuring. It is not a function of my performance, misconduct, or anything of that nature.
I am a little concerned in regards to how people will view this, considering its almost impossible to get laid off as an analyst (especially from a BB). Considering that this will immediately raise red flags and cause some doubt in the interview process...how would you suggest I best position myself when speaking to other firms, recruiters, alumni,etc? I am under the impression that I will not be considered when speaking to recruiters once I explain to them my situation. Two people in my group have vouched to serve as positive references for me.
Ben
I don't think you'll have any issues with recruiters. Always better to have a job than not, but this happens all the time in finance. Don't stress.
Next to title on resume - note team or group was dissolved
There's nothing to worry about, happens all the time. Just make sure it's noted on your resume as suggested in the post above.
Appreciate it, however, my group as a whole wasn't dissolved....just their analyst....
Again, this can be verified by HR during a background check and the group.
I wouldn't look to far into it HR is just looking for a basic understanding...in your case just note: "work team dissolved"...it's pretty self explanatory
I don't even think you need to note it. I'm sure you've taken your FINRA exams, so I'm certain you have a U-4/U-5. If it comes up, tell 'em the truth, the group was disolved as a result of firm restructuring and you were let go. Assuming you weren't fired with cause, your U-4/U-5 will reflect that and corroborate your story. If there were a discrepancy between the two of them, then I would worry.
Yes, I double checked with HR as to what would be listed on my U-4/U-5 and they said that it would say "role elimination" as opposed to "termination" when people get fired with cause etc.
Great stuff, appreciate all the input and will be using the comments suggested..but doesn't saying "my group was dissolved" imply my group as a whole was eliminated? If it doesn't, I'll be sure to mention.
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