Layoff - advice?
I was part of a layoff as an AN1 at a decent shop. Around 40% of 1st years were let go and it is confirmed to be strictly structural and not performance-related.
Considering I just started my FT role in July, I know recruiting may be tough. Seeking advice on how I should navigate and if anyone knows any firms that are lateral hiring for near-term starts.
Any input is very appreciated!
was this TD, UBS, BMO, or Houlihan?
No, but something similar.
Focus networking on jobs with open roles posted. You should also be open to opportunities outside of IB given how limited lateral moves are at your current level.
Even networking is tough in this environment - everyone's doing the same so the bar to entry is quite high.
Most people aren't even taking chats, but they're recruiting from internally / through existing network
I echo the same sentiment regarding the unwillingness of firm people to accepting cold outreaches. What I don't understand is the hiring internally part / through existing pools. If I were to hire somebody, would I not want to be broad and receive applications from as many people as I can process? What if a strong fit candidate is out there but didn't do any networking with the firm prior (I find the whole notion of networking hoping an open role comes up to be quite useless these days)?
Sorry to hear man. Did you just start this July or last year July? Hard to believe any reputable bank would can 40% of analysts who started like 3 months ago
This year - can PM if you want more info
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