Unemployed for 1+ year, Advice on Next Steps
I haven't been able to convert any interviews despite all the professional development, courses, and workshops I've paid for. Networking has yielded very little if a call at all. I feel lost.
I'm considering a MSF just to get back into school recruiting and have access to the resources available. Plus it lets me put something on my resume.
What are your thoughts?
Based on the most helpful WSO content, here are some steps and considerations for your situation:
1. Professional Development and Networking:
2. Considering Further Education:
3. Mindset and Personal Development:
4. Practical Tips:
5. Long-Term Vision:
6. Luck and Perspective:
For more detailed advice and personal stories, you might find the following threads helpful: - https://www.wallstreetoasis.com/forum/investment-banking/thoughts-on-st…</a">Thoughts on Starting Investment Bank/M&A Advisory for my Company - https://www.wallstreetoasis.com/forum/investment-banking/some-thoughts-…</a">Some thoughts about luck in your career
I'm sorry, but it looks like this may be out of my ability to answer... maybe some of the links above might help?
It was a year for me in November and it’s been the most grueling, challenging and sobering year of my life. I was part of large scale layoffs after my bank was acquired and thought with my experience and level of seniority I should be able to do the same role or pivot elsewhere easily. I was very wrong. I have dual bachelors and minors, I’m bilingual and have been studying 2 other languages. I have series exams and took a number of online courses. Every time it’s been you are too experienced, you’re not experienced enough, or were no longer hiring for the role. I have to remind myself every day that this is temporary, and I’m going to get my career back on track. I know this comment is late but I hope you have found something! The market is just really tough right now and I think this industry has a real stigma about being unemployed for more than a few months.
I decided to focus on preparing for an MBA since I could not get any leads or momentum during my search. Even though employers say otherwise, I think you're right that after a certain time, you start to get overlooked. Have you at least been getting some leads? What is your plan going forward?
I got a job at a fancy restaurant just to have fun - I even get to interact with people there in finance and do some networking. I get recruiters reaching out often still and am ready to aggressively network again next year. I updated my resume and worked on pitching my story a bit to emphasize my entrepreneurial experience. Hopeful the tides will turn! I haven't given up yet and staying positive keeps me going. PM if you ever want to chat more!
If you want advice it would be helpful if you elaborate on your background and your industry goals. Generally though, courses and workshops aren't actually a value-add in terms of obtaining employment, they may have utility for improving during interviews but you shouldn't expect anything that has a low barrier to entry to improve your outcomes.
Most recent experience is in valuation, previously worked in settlements and as a lending specialist. I was aiming for IB, equity research, and valuation in order of preference. I know these fields are notoriously difficult to get in but I was hoping my experience would carry me. I agree that courses and certificates are low yield but, like you said, it helps explain how I used this time during the interview process.
My heart goes out to you. If you need any help you can PM me. I know what it's like. It's a special kind of hell.
Very interesting name haha
Will do—I appreciate it. Hearing other people's stories definitely help
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