Recently Terminated What Now?
Hi Monkeys,
Just wanted to get your perspective on an issue. Was recently terminated from a decent capital markets gig on the sell-side. Unfortunately, I was terminated involuntary because I was looking to try hard and turn things around after a performance improvement plan review (PIP). Things didn’t go smoothly, so I’m looking for some advice.
1) Looks like my U4/U5 will include a black mark for the termination for cause. Is there any way to negotiate what’s written here or provide your own side of the story (although, I agree with some of the issues outlined, I think the reasons were a bit overplayed. I did a decent job trying to turn things around and address the issues, but nonetheless, I was let go ultimately, most likely because of the bad fit). What is your experiences there and have you had issues finding a role after this.
2) Should I be upfront with prospective employers? I was let go this month, is it still okay to pretend I’m with the employer until the new month starts or is this the wrong mindset?
3) What’re some answers you’ve provided to prospetive employers to spin your story around in light of a termination?
Appreciate the answers.
Monkey,
Very sorry to hear about your recent setback. Hopefully this is something early on in your career and hopefully you can mitigate any potential negative repercussions from info found on your U5. There is a process called: FINRA Dispute Resolution Expungement, but I really know very little about it. I do know you may present a dispute before FINRA, but have no experience, nor do I know of anyone with experience, associated with this process.
All I could suggest is to get your side of the story onto your U4/5. Although it's not good to have a spotty U4, it's not the end of the world. I think sometimes it's a function the infraction involved. Wish I had better info for you.
You may always simply call FINRA and ask them about the dispute process. I wish you the best of luck. Regs and compliance can be a very sticky wicket.
There is no set way, I think. We both profited from our professional educations, yet in addition from our associations (which I comprehend not every person is sufficiently fortunate to have), interests, and diligent work once we graduated.
This post made me nostalgic. Been there, Done that. I'm curious to know which capital markets gig you got let go from, I was in a similar situation - but in M&A in SF. I want you to know that I can completely sympathize with your situation and I feel for you.
I want you to know that you CAN bounce back and this is not the end of the world, buddy. I was in a gig that wasn't a good fit and had a VP that was an absolute monster. I bounced back into M&A and you can certainly get a new job.
1.) How long were you employed? I was blown out fairly quickly because I wasn't ready for the job. As far as the U5 is concerned, try to negotiate a layoff or downsizing if you can. You can leverage this.
2.) DO NOT LIE ABOUT DATES OF EMPLOYMENT OR TERMINATION. This will lead nowhere. Say you are unemployed, because you are
3.) Be honest, say it was a bad fit and explain what you have learned.
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