Unemployed and feeling lost
I left banking after receiving my second year bonus and didn't have another job lined up. I have no interest in staying in banking any longer because I thought my learning curve was diminishing, the hours were too long and my work environment was toxic. I was searching for a private equity / credit role prior to leaving and for the past month of unemployment, but I've had no luck securing one. The opportunities for a near-term start in NYC seem to have dried up, and I'm unsure what to do at this point. Any guidance would be appreciated.
It’s a slow market. Take a few weeks off just to relax and de-stress, there aren’t many places hiring in October anyways.
Then start prepping more and you should be in solid shape when Q1 comes around and there should be more opportunities then.
Hey there, I totally understand how you're feeling. It's a tough spot to be in, but remember, it's just a phase and it will pass.
Firstly, don't panic. It's normal to feel anxious and uncertain in your situation. You're not alone in this. Many people have been in your shoes and have successfully navigated their way out.
Secondly, keep applying. The job market can be unpredictable and it's all about timing. Just because you haven't found something yet, doesn't mean you won't.
Thirdly, consider expanding your search. If opportunities in NYC are scarce, maybe look at other cities or even other roles that could use your skills.
Lastly, use this time to network. Reach out to old colleagues, attend industry events, join online forums like WSO. You never know where your next opportunity might come from.
Remember, it's okay to take a step back and regroup. This could be a great time to reassess what you really want in your career. Stay positive, keep pushing, and you'll get through this.
Sources: Laid off, Depressed and Giving up..., 9+ months of unemployment and feeling cursed…
Envision a life where you work 9-5 and have no weekend work. How would you spend your time after work? Ask yourself if that would make you happier then look into career options than enable that if so. IMO, private credit and other finance exit opps are more of the same thing as IB. There was a recent post on here that I will echo: “if it walks like a duck, quacks like a duck, its probably a duck”
I was in the exact same boat as you. Had nothing lined up after 2 years at an EB because i hated the lack of WLB. Took 1.5 months to hard reset, then applied to at least 5 corp dev / better wlb jobs a day. Eventually got a pretty solid gig 4 months after quitting. Job market isnt great right now but keep your chin up and keep applying — everything will work out in the end.
Following. Similar situation
Bump
My advice would be to broaden your search. There are career options outside of IB/PE. Examples would include M&A/Corp Dev/Capital Markets roles at F500 companies (or tech/startups).
The world is bigger than finance. Good luck bud.
Checking in - OP, how are you doing? Did you end up finding a new gig?
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