Canada Layoffs
Recently impacted by layoffs to the investment team. Have about 6 YOE and not seeing many mid senior level roles.
also heard a few companies ie. Triovest laid off their CIO and most of the investment team BGO as well. There are a lack of investment roles. Worst case scenario is I am unable to secure a role by next year and that’ll be almost a year of unemployment.
Question I have is at what point does the gap begin to be concerning? I’m hoping recruiters / companies would be understanding of the market cycle.
Does it make sense to consider ME funds? Saw posters speak about ADIA / Mubadala for example. Would it make sense to try get role and come back in a few while keeping network alive?
bump
Following. Recently impacted by layoffs as well. RE Group at an investment bank.
TD?
Terrible. How long has it been? Assuming you’re based in Canada.
Yeah Toronto. About a month.
Sorry to hear man. Looks like layoffs are ramping up.
To answer your second question, take whatever job you can get.
I don’t think there is an end to sight with a hike or two expected by EOY…thinking if I should move to ME, however, not sure how the experience would be looked at even if exposure is North America.
Job market definitely tougher... applied at an institution and local PERE shop during the summer and both are now putting the searches on hold LOL
I’ve heard this a few times as well..which is unfortunate. However, I’ve been able to source some remote work for a private equity firm in ME focusing on the US RE investments. It will help explain my gap somewhat for sure. May even go for winter…
Is it contract work? What are you doing for the company? How difficult was it to land that role?
Laid off as well from a RE IB in a special team (first year analyst). Looking at opportunities outside of Canada either in RE or not due to market conditions here. Wishing you the best it’s really tough out there
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All the best dude. I am seeing analyst level jobs maybe you should consider those. I have mid level experience (5-7) so a little bit tougher to find opportunities. Hoping I'm still employable once hiring begins ...whenever that is.
Have you thought about the US? I’m seeing opportunities in the west coast and east coast for mid senior positions that would suit yourself.
You got laid off as a first year analyst? Don't they usually cut MD, D, VP first?
Not if they're locked in under contract for a few years. In my case, associates, and a few directors were cut. Team is now slimmed to literally nothing now.
Bump. Anything specific about NBF?
NBF?
National Bank Financial. Financial is what they call their capital markets.
Have you guys considered the UK at all? You can work here for 2 years under youth mobility scheme (can then extend for another year) and don’t need a job beforehand to get approved for it.
The age limit for it is currently 30 but it changes to 35 from 31 Jan 2024.
Only reason I know the above is because my girlfriend is from Sweden and since Brexit we’re both looking to move to Canada together under the same scheme as it’s difficult for her to get a visa here.
The job market isn’t amazing in London at the minute but there are still roles going around. It’s starting to look a bit better than compared to a few months ago.
If anyone wants info on London recruiters etc give me a DM, happy to help.
Also, if anyone based in Toronto knows a firm that would hire a Brit working in acquisitions with 4 years experience please give me a DM :)
Toronto is just a standstill right now. Maybe in the new years the job market opens up
London is just as bad for good seats atm unfortunately
Had accepted a role as AVP for US investments recently in Dubai. Have about 7 YOE in Canada but was laid off in Q1. The market has been bad and wasn’t seeing any activity or jobs pick up. And needed funds to pay a mortgage.
will have to relocate and was thinking of doing this until Q1 24 - this would 5-6 months of experience. And come back to Canada thereafter with a nest of about 6 months.
would employers understand my situation? I figure it’s a better story than being laid off since Q1 and at least this move would show perseverance and knowledge gained from US transactions. Thoughts?
Congrats on the new role.
Mind if I ask how you went about sourcing the role? Was it a particular recruiter outreach or did you proactively reach out to a specific recruiter?
Asking as I’m considering making a similar move in light of layoffs
Just cold emailed and networked directly with the investment firms. Keep at it. From what I understand they’re very active right now.
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