Laid Off Due to COVID-19
I was laid off due to deal flow crashing due to COVID-19. I'm a TMT Associate with 3 years of experience at a top BB and about 7 months at a specialty boutique.
How f'd am I? Will firms be understanding of people having gaps on their resume due to COVID cuts?
Arma Partners?
Close in size. A TMT boutique. Would prefer not to disclose.
Dont panic ; There’s obviously initial shock right now.
Thank you - I'm up to step #2 currently, definitely worried that hiring won't pick up for a while, but I will take your advice and attempt to reach out to all my contacts.
Set your expectations, given the fact the lockdown not fully lifted the interviews etc might be a lot slower than usual.
If you’ve been prudent, you have enough savings to get you thru at least 6 month without having to move back to parents places. But it is still good practice to cut back on spending but it’s definitely easier now when in lockdown.
Don’t be close minded. Given the situation a lot of people’s deal flow is drying up. Open yourself up for other divisions, slightly different department, basically the game right now is to speak to as many people as possible. cast your net as wide as possible. Don’t turn down anything just because you don’t like the sound of it. Use these interviews as your sounding board and practice interviews and you will improve by the time the really well fitted seat arrives.
Firms will be understanding. Harder question is when they start hiring. Hopefully sooner. But I wouldn’t worry about them judging the gap in times like these.
Hang in there man you’ll be ok. Recommend taking a few days, or 10, to relax a bit before getting into the search and all that.
I understand that some bottom tier BBs and middle market banks are hiring in TMT. My old staffer was laid off in the last cycle and moved to a Tier 3/4 boutique but was re-hired to the BB (different group though) within a year. If I were you I would try to be more flexible in terms of coverage / product. Best of luck!
Thank you all for the advice!
Incoming analysts so have literally nothing to offer but just wanted to say best of luck. I know this must be a really hard spot to be in and I hope something works out for you!
Many restructuring advisory postings are only requiring M&A experience. This may be a route you want to explore. Best of luck!
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