Laid Off - Career Gap
I have recently been laid off from a tier 1 BB due to cost reduction, it was a contractual PM related role through a consultancy and the contract was not extended due to costs. This happened to various others from the consultancy also where the bench was too full to keep us on due to no work at the moment. I am not too sad about this as I was highly underutilized in the current role and was oversold the role in terms of responsibilities. Some of the team (I worked with) were pretty toxic and there was little to no learning, just me applying myself from my side.
I am now catered to look for the right role which matches my skillset, however this will possibly lead to a large gap on my CV. In the meanwhile I will be studying for the L1 CFA Exam.
Q: How big of a gap is considered bad by recruiters and any possible way of justifying this gap?? - I was looking for the right role, whilst building upon key skills.. would not suffice i'm assuming.
Any gap raises questions. Apply your ass off and network your ass off. Get in a solid routine eating healthy, gym, and applying and don’t lose hope.
Thanks bud that's the plan. Just annoyed it happened at the wrong time where hiring has been frozen.
nice - cheers - GL
Just have a reason for a gap. Doesnt even have to be that good to be honest. this is one of those things early in my career I panicked about, but later on see it doesnt really matter.
If you tell a future employer that you took 6 months off to travel the world, wanted to do it while you were young, and you learned X that can translate into a professional setting (how to strike conversation with strangers, self reliance, importance of planning, really anything) then you will get more "awesome, Im jealous" than "that's a red flag"
Or if you tell an employer you used that time to pursue some other venture (non profit, starting your own business, etc. - even if it sucks and bombed - can again translate these to work pretty easily)
If you are older you can say you had to take time to focus on family. Dont lie, but can be vague, people understand life can throw hooks at you (ex: taking care of ageing parents, sick family member, kid needs more personal attention, whatever)
Only time it looks poor is if you spun it has you applied nonstop for jobs for months, got turned down, did nothing all day, etc.
Cheers man that makes sense and is very helpful, would employers ask for valid proof of your travels ?
lol no, that would be absurd. That stuff only applies if you are actually working there (ex: you need to take months off for family, they may want proof). But if you are applying for a job? Just have a canned answer you can pull out of your ass, connect it both to your personal story and the demands of the job,and that will be that.
This isnt like education or former employer experience where it will likely need to be validated.
I was laid off last year and will have about a three month gap. I think with the IB market in 2023, a gap of around three months this year will end up being more common than you might think. Just treat recruiting like a full time job and you’ll land something within a few months. Close to six would start to raise eyebrows. I think the job market is beginning to improve so you might not even need three months. I was recruiting right around when every bank started making cuts. You got it, just keep working at it and try to average a few interviews a week.
.
Illum rerum natus reprehenderit non veniam ipsum. Sed expedita non nemo saepe sit facere sapiente rerum.
Ut laborum ea optio qui tempore et delectus quae. Ab excepturi nihil velit a distinctio dolores dolore ullam. Vel optio provident natus qui consequatur laboriosam. Architecto similique laboriosam voluptatum corrupti rerum. Fuga eius reiciendis aliquid amet. Voluptas pariatur sint est ipsum unde quis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...