Unable to get a job almost out of money

I got laid off six months ago and I have been unable to secure a job.

I have about 3.5 years of experience in acquisitions and asset management. However I bounced around a few firms which probably looks bad to interviewers.

Next week is my last week on unemployment. After that I have about a month until I am completely out of money and will be sleeping in my car. I’ve been interviewing for other industries as well but no one wants to hire rn.

Any advice on what I should do.

13 Comments
 

Based on the most helpful WSO content, here are some actionable steps you can take:

  1. Budgeting and Emergency Fund:

    • Create a Budget: Spend a few hours creating a detailed budget in Excel. Identify areas where you can cut costs immediately.
    • Emergency Fund: If you don't have one, start planning to fund an emergency fund as soon as you secure new employment.
  2. Health Insurance:

    • COBRA: Your firm may provide you with COBRA, but it tends to be expensive since your employer is no longer contributing. Read through everything carefully before signing up.
    • Medicaid: It's unlikely you'll qualify for Medicaid, but it's worth checking your eligibility.
  3. Job Search Strategy:

    • Networking: Focus on networking more than online applications. Use LinkedIn and Indeed.com for job searches and set up daily alerts. Informational interviews can be crucial—ask for advice, not jobs.
    • Interview Preparation: Stay confident and treat every interview as a two-way street. Evaluate if the offer is something you actually want.
    • Daily Routine: Establish a daily routine to keep your sanity. Include activities like volunteering, going to church, or even spending time at a coffee shop to search for jobs.
  4. Mental Health and Perspective:

    • Stay Positive: Keep a positive outlook and remember that challenges are temporary. Take time to enjoy life and step away mentally if needed.
    • Hobbies: Engage in hobbies or activities that keep you mentally active and positive.
  5. Long-Term Planning:

    • B-School Applications: Consider preparing business school applications as a potential reset. This can be a good backup plan even if you secure a job soon.
  6. Government Assistance:

    • Unemployment Benefits: File for unemployment benefits if you haven't already. This is a benefit you've earned, so use it.

By following these steps, you can better manage your current situation and improve your chances of securing a job soon. Good luck!

Sources: Looking for Perspectives on Unemployment, Navigating the Unemployment Terrain, Navigating the Unemployment Terrain, How to deal with a recession career-wise? A few lessons learned during the previous GFC, Unemployed and living in parents' basement, losing hope

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

You've been in the industry for over 3.5 years, have you reached out to your former colleagues?

 
Most Helpful

If you have a little money put away or you can borrow, or sell your current ride and then buy something else, I'd consider finding a not too old used Model 3 and Uber doing during peak hours, and then rest of the day working on skills / job placement / gym.

I've heard of ppl making sometimes (net) somewhere in the range of $8k - 10k per mo (I'm in SoCal - and hours and will vary from month to month), not sure what part of the country you are if this might be an option, obv EV little cost to operate compared to ICE vehicle for constant driving.

 

You cut costs by a lot if you have an EV that you can use, maybe even a older Model S.  The one guy I knew would tell me he does $8k-$10k per month had a Model 3 and would work usually 10-12 hrs per day.  Not sure how much of that is him inflating earnings, however I've heard of a lot of ppl doing Uber who say they gross like $4k-$6k on an 8 hr schedule (six days per week), therefore if let's say on a good day you can gross $250 in a day on an 8 hr shift, and then increase that on days you might put in a few extra hrs.  I'm thinking landing at the $5k to $6k mark may be doable monthly and then on some days seeing the rates being more favorable put in an extra hr or two while maintaining time for placement and errands and the like.

 

Maybe you should think about picking up some temp work or short-term gigs to get by while you’re still job hunting. It might mean stepping out of your usual field for a bit, but it can help keep things moving.
A while back, I was in a tough spot too, and I ended up looking into other kinds of management roles. One that caught my eye was working as a vet office manager. If you’re good at staying organized and don’t mind dealing with people, it could be worth looking into. I found this site, https://www.veterinaryschoolsu.com/vet-office-manager/, that explains what’s involved and how to get started. It’s a solid way to pick up skills that can lead to steady work.

 

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