Laid off from IB after getting PE offer
Currently a first-year analyst at a BB and signed to a top UMM for 2024 during on cycle.
I'm in a group that will probably face layoffs. I am also strongly disliked because I disappeared from the desk to recruit. If I do get laid off, what happens to the PE offer?
Op this made me LOL.
Just keep your head down and quiet quit. You will be fine and can move on the PE. You got this king!
It depends on the stipulations on your contract. Usually the PE firms require you to be employed prior to joining the firm for a set period of time (i.e., they're not going to want you chilling DIH for 6-12 months doing nothing). Ask your PE firm if there's any chance for you to start early.
Do your best to improve your standing. Do not complain, try to step up on your assignments, make the lives of your associates and VPs easier, etc. If you fear that you are going to get laid off, I would try to make plans to lateral to another bank ASAP.
Idk I wouldn’t just assume you’re going to get laid off for one. Unless there’s strong whispers of analysts getting cut then it’s way too premature. You’re very expendable but also very cheap and generally dropping junior analysts is bad for the company’s rep.
If you are then it’s a pretty easy story to tell your future employer. I imagine they’d be somewhat sympathetic to that and might even let you start early. But you have to remember that they gave you an offer in the first place because they thought you were far enough along today that they could project you’d be an asset in 1.7 years. They’ll probably want you to get more training. If you get canned then they have to decide if they want to train you, find your more training or cut you loose. More than likely, for PR reasons, they’ll help you find another analyst role or make some sort of accommodation. And if they’re assholes and cut you then make sure the recruiter that helped you get the role is your biggest advocate. Lots of MM funds will want to get to know the kid that [insert quality UMM] was going to hire.
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