Current Form Loose With Firing - Constantly Interviewing New Candidates for Your Role

Current firm I’m at has a history of letting people go. Small developer of around 10 people, they’re constantly interviewing for my and other juniors peoples roles to have a list ready to go unless there’s a need. Pay is below market and hours are 14 hour days. 
 

In general they live off debt and are over leveraged so if the market turns they’re screwed. What would you do in this position if you’re a month in trying to last 6-12 months to jump to a larger developer? 
 

Any advice? Seems like any day anyone of us could be let go and they’re interviewing for our roles looking to bring another person on we don’t need. Seems just in general a bad situation of not enough need for that many people so eventually they’re think “we have to let someone go”.


Just my thoughts any advice for this type of environment?

 

Curious what’s the explanation? They have high turnover?

Theyre happy with my work it’s just seeing other candidates and constantly hiring when there’s no need seems like it’s whoever’s replacement. 
 

I’m looking I just also don’t know how to justify leaving after 3-4 months. Companies will say why are you leaving so soon what’s wrong with you, you know?

 

They do have good deal flow tho, is that something you can say and people wouldn’t know either way because they aren’t inside?

Good deal flow and I’m learning just toxic environment at a junior level it seems. 
 

Also issue is they’ve fired people when they get hit with bug payments but there isn’t 100 people to point to. There’s 1-2 who have been let go others left on their own. But I guess it’s telling if your position switches around every 12-24 months. 

 

Be careful saying it’s a toxic environment when you’re interviewing.  While it sounds like that’s true, there’s a chance your interviewer will think it’s a problem of you not fitting in (which it obviously isn’t).  Use other reasons if you can, like deal flow, lack of mobility, etc.  

 

Just be honest. Bad fit and the firm has high turnover. While you thought it was okay going in, now that you’ve been there you realize it’s the wrong position and firm for you. And since you know it’s the wrong spot you’ve begun looking. No need to spin in. And who cares if they have good deal flow. People will understand your worry about job security if they constantly fire. 

 

Always easier finding a new job while you have a job. I would start your search now and reach out and network. It'll be easier to explain over a phone conversation with a hiring manager or HR than sending a cold application without any context. Terrible situation to be in so I'm sorry to hear it. Try to last six months at a minimum and attempt to develop any relationship at a more senior level at your firm (associate, VP, etc.) that can vouch for you if you do get an offer. Best of luck. 

 

Est animi nesciunt ut aut. Magni doloribus sapiente consectetur. Illum labore suscipit aut eveniet ut voluptas. Repudiandae nobis voluptates ut maiores veniam.

Alias quisquam perferendis aut veritatis velit quae possimus. Omnis quidem laboriosam vel at quasi sunt.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (88) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
CompBanker's picture
CompBanker
98.9
8
kanon's picture
kanon
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”