Over 1 Year Employment Gap due to COVID
Hey all,
I would like to seek some help. Last year, due to COVID, the company went through a budget cut and I got laid off. And as everybody knows, 2020 is pretty much a hiring-freeze year. Luckily, I got a lot more interviews in late 2020 and 2021, but due to various reasons, I lost in a few final rounds. That takes me to an almost 1.5-year employment gap. Of course, I've been networking, taking modeling certificate courses, following the market, preparing interviews, etc., and mentioned those during interviews when asked the gap question.
Recently, I got some direct/indirect impressions from the headhunter that many employers won't even look at you with the gap. Is that true? Any advice? Thank you all a lot!
Pgim real estate is hiring for associates across the country and I haven’t seen too many people apply
They will most definitely look at you with the gap. Especially with covid everyone should understand the market is really hard. I still have a lot of friends who lost their jobs due to covid. I recommend keep networking. It’s easier to get a job and look via network. And don’t listen to recruiters. While some are/can be helpful, they are telling you that because they view you as harder to place, therefore they don’t want to work with you. Recruiters try to find the path of least resistance to a placement. I’ve seen people get jobs in the last month or so that we’re unemployed for a year plus. Keep chugging along and keep your head up. It will come. Keep networking.
Fuck the recruiter who said that. Like he/she thinks if you don’t work for a year due to a once-in-a-lifetime pandemic you can never be hired again?
The job market has really heated up. I would say just get into some sort of transactional role. Agency lending is definitely low barrier to entry as an example.
In a way, it’s like investing. You need to find value where others don’t see it. So maybe right now everyone is going for REPE jobs in New York. You need to go after the positions that other analysts/associates maybe aren’t targeting as hard
Also should add that you need to have something that you're spending your time on outside of interviewing. Freelance modeling, volunteer work, pick up a part time job, anything. If you can't get freelance RE work, try to do a 10 hours a week of volunteering or something. It's really not a big time commitment and it will help with your "image" to prospective employers.
Ull be aight.
Never listen to recruiters…keep networking and you will get something.
You'll be fine and will be able to continue to get interviews.
That recruiter is a dumbass. I would definitely look at someone with a COVID gap. I'd question it, of course, but if ever there was an excuse to be unemployed...
What type of roles are you looking for and what city do you want to be located in? My team is hiring
Based in NYC and would target CRE (retail and multifamily) Asset Management either debt or equity would work.
Ok, we are on the westcoast looking for somone in IS. Best of luck on the search !
any interest in a spot on the Fitch CMBS ratings team? Open positions because every junior was able to lateral into CMBS at bulge brackets. Pay range is 100k-200k for an associate analyst. Let me know, the hiring manager reached out to me to fill these spots.
Pro tip, leave NYC and you will get hired in less than 30 days.
Thank you all for the support and help! I will keep hustling! Best wishes to you all!
Same story here. Was laid off at the start of COVID. Coincidentally, I was talking with three groups with hopes of switching roles before the sky fell. Once it did, everything dried up instantly. I stayed in touch with everyone, but all paused their hiring efforts.
Fast forward to May 2021, my efforts came to fruition and had 6 quality companies knocking. I got my current role through my network, but was on Select Leaders and LinkedIn, daily. Take advantage of outdoor coffees or lunches. Those opened many doors for me. Best of luck!
There is "old school wisdom" that gaps are bad or it's easiest to find a job... when you have one! And honestly, I'm sure some truth in this.... but I think this recruiter was just trying to tell you to fuck off (I mean, this is really want they do unless they think you fit a role they are trying to fill at that moment... they ARE NOT there to help you, hence why you shouldn't expect much in networking with them... can't hurt, but they don't work for you!).
Personally, I wouldn't let this get to you at all. I watched people get let go as whole firms melted down (and the industry) in 2008, many stayed on the side lines and waited tables (LIKE LITTERALLY WAITED TABLES) for 2+ years and are now back in the industry doing better than ever. COVID gives you a legit "mulligan", lots of people got fucked by it, so I don't think you even have to explain it. If asked why "so long" (doubt you get asked much..)... just say "health concerns" (could be taking care of sick relative or just don't want to get covid, they won't ask).
Seriously, I doubt anyone who legit needs to hire will care all that much. The job market is getting tight, I think you could be coming off the sidelines with a 5 year gap and find a job today.
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