Tis the season to be laid off, tis the season to be jolly. Given the recent (and upcoming) slaughter in IB, I want to share my story with the simple message that things will and do work out.
I was til recently a 3rd analyst at a. I was communicated back in June that the firm was not going to promote me to associate. I took the news like any man with a backbone and turned it around expressing to my team that if it meant saving my team's ass, then I'd take it (up the ass). What I had in mind was that the sht was the sht and it can't possibly get any worse, but it could get better if I can depart the right way.
Long behold, my MD felt like he owed me a big time and started calling up his contacts to get me lined up for interviews. In 3 weeks time, I had multiple offers in hand and ended up going with a $bn distressed debt hedge fund. The funny thing was had I not been gutted, I wouldn't even consider exit IB. To top if off, I got 2 months garden leave and still received my $70k bonus.
More importantly, this incident reignited the spark to become my own boss man. After taking a nice vacation, I'm now working on several tangible business ideas with the plan to build one out in the next several months.
My message is simple: shit happens, exit on good terms, it's okay to be lost but pick yourself up and keep moving, and most of all, believe your worth and go out there and claim what's yours. Happy hunting.
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