Analyst - Laid Off

2.5 years in, promotion coming in January, got laid off Monday from a BB, along with numerous others in the group. Not performance based at all, it just seems that the business is clearly becoming something that the firm doesn't want to pursue any longer. Lost over 20% of staff over the past few months, and between regulation and restructuring, it's hard to see a place for the business at my old firm. Without getting into too much description, it's a form of illiquid ABL.

Recruiter called me within a few hours of being let go, and has set me up with meetings at other players in the space in the coming weeks. General question is, anything else I should be doing? I've been meeting and speaking with people all week; wanted to hit the ground running. Situation sucks, but I'm staying positive and keep going forward.

thanks all.

 
Best Response

i would say take 5 days and drop out and do some thinking. Go to a beach/mountains etc.. Turn off your phone, don't take a laptop and go somewhere you can sit in a pool/hot tub and clear your mind.

A clear mind does terrific things for decision making.

edit : don't mean to sound callous, I'm sorry this is happening to you, but you'll get on your feet real soon.

 

I think that this is good advice overall, but you want to make sure not to isolate yourself too much. Try and get away from the banking scene and clear your mind , but make sure that you are not alone and still around people that are maybe not related to finance

 

Sorry to hear - quick question out of curiosity about how the process works; how did the recruiter get in touch with you so quickly, did you reach out or did the firm set it up?

I would advise you to start sending out fliers to any contacts you have and get in touch with headhunters/recruiters to get your name out there.

 

Product line is pretty niche and most people know each other. Friend heard about the news and put the recruiter in touch with me.

Thanks, appreciate it. I have contacted a few people across the Street.

I'm interviewing with a few competitors in the coming weeks. Anyone have any advice with respect to those? I get the idea of, "show them a little, but not too much".

 

The one thing I would make sure you do, even if it sucks because you may or may not be harboring animosity towards superiors for getting let go etc. , is to reach out to an old manager or superior at the bank and ask them to write you a brief letter of recommendation. Having this with you in interviews going forward will make it so that you can get the doubt in future hiring manager's minds about you being cut for performance reasons out of the way, and get on with the interview. its a tough thing to go through but this will help, and you will get through it.

 

I would be proactive about the job search but I'd spend some time catching up on everything you never get a chance to do or have been putting off. Read a bit, workout, go to a cafe... I don't think you need a vacation or to postpone interviews to feel better. You'll feel productive getting those tasks out of the way while you wait for your next job to come through, and spend some time enjoying the things you can't normally do, like spending an entire afternoon in a nice cafe, or getting slammed at brunch on wednesday. It'll help.

Best of luck.

 
zerojb34:

Yes - very fortunate that $$ will not be an issue.

Any advice for the meetings with competitors next week?

When you go in, and they ask you what happened, be straightforward. Tell them you were laid off because of the company's decision to move its business lines elsewhere. If they're dicks and think it's you, then that company is not a place you want to work.

Remember, you held a job for a while, don't doubt yourself because you got laid off.

'77 CB 750 '69 Cortina GT
 

I was laid off as a MM IB analyst- same situation, about a year ago. Best thing that ever happened to me. I took some time to think about things and decided to go into commercial banking and am really happy. Not saying to go into commercial by any means... just saying it's amazing what a little time off can do for perspective.

 

My personal thing is for these type of things, to give myself 48-72 hours to feel however I do, with the understanding after that, one cannot fully indulge in it and some work needs to be done. During that period, Do whatever makes you feel happy or fulfilled for the few few days, provided it does no harm. For some, it could be nature, for some it's simply sitting on a park bench. See friends and family. Laugh. Reminisce old times. Talk about how you are now.

Then start working on your interviews. I don't think you've forgotten how to prepare for an interview. Maybe you are unsure how to present that fact that you were let go, there are some threads. At the end of the day, those competitors and recruiter don't see you as "damaged goods", you still got interviews! Good luck and all the best!

 

Still on the market. Anyone care to throw out any suggestions? I got an offer from an endowment in the midwest, but there was a low salary/combined with a serious death in the family that caused me to have to turn it down.

I've been getting decent traction on the interview side, it's just that a lot of these processes take forever. I've gotten dinged from three final rounds that I've been progressing with since the first couple days since I got let go.

Making progress with a couple sell side roles now that year end is passed, so hoping that one of these pans out.

thanks.

 
zerojb34:

Still on the market. Anyone care to throw out any suggestions? I got an offer from an endowment in the midwest, but there was a low salary/combined with a serious death in the family that caused me to have to turn it down.

I've been getting decent traction on the interview side, it's just that a lot of these processes take forever. I've gotten dinged from three final rounds that I've been progressing with since the first couple days since I got let go.

Making progress with a couple sell side roles now that year end is passed, so hoping that one of these pans out.

thanks.

so you've been waiting for 3 months without a job?

man that sucks, all the best man.

 
tellmehowtoplay:
zerojb34:

Still on the market. Anyone care to throw out any suggestions? I got an offer from an endowment in the midwest, but there was a low salary/combined with a serious death in the family that caused me to have to turn it down.

I've been getting decent traction on the interview side, it's just that a lot of these processes take forever. I've gotten dinged from three final rounds that I've been progressing with since the first couple days since I got let go.

Making progress with a couple sell side roles now that year end is passed, so hoping that one of these pans out.

thanks.

so you've been waiting for 3 months without a job?

man that sucks, all the best man.

Been purely buy side since I left since no sell side bank recruits at year end.

Final at a sell side firm today..Wish me luck guys. Feeling confident.

 

I can relate to the whole process taking forever. I've been interviewing with one firm since February, met with the manager, two weeks later meet with director and then two weeks later met with VP and now HR is traveling so she hasn't had time to get feedback from everyone. And another firm same thing people traveling. I will hit my unemployment mark for two months tomorrow. What did you do during months of unemployment except applying for work? Also how long were you unemployed for?

 

I spent most of my time applying for work, networking, meeting people. Besides that, I exercised daily, and tried to clear my head as best as I could. I read a lot, and engaged in a lot of introspective thought. Sorry if that sounds a little out there.

I had a three month "Garden leave" where I was being paid by my firm, and then 1.5 months after that where I was looking. Don't get discouraged about time. You broke in before, you will get a new role.

I got my first offer about 2 months in, and turned it down just because it was not right.

Let me know if I can be of any more help.

 
tellmehowtoplay:

Is this where all the analysts that got laid off come to?

In a boutique, got told that they're closing down the Corp finance arm and got a 2 month notice.

Feels like shit knowing that you might not have a job 2 months down the road.

Though interviewing with a Family office and a VC fund, I only have like 8 months of exp at this current place so it feels like i'm in limbo. And i haven't been seeing anything else so it's very worrying, especially if i dont get those offers.

Would appreciate any advice other than the hustle and shit.

this sucks tbh.

It's just a timing thing man. My group was a bloodbath, about 60% gone in the last 1.5 years. Most people still looking for things. All you can do is stay positive.

The one thing I've realized is that no one moves quickly...It's a snails pace for a lot of guys recruiting out there. Just keep looking for opportunities.

 

Are a lot of people from your group who got laid off still looking? You said it was a bloodbath. Just wondering what the average time around is. I got another ding where I thought things were going well. Have another interview with a boutique consulting firm and waiting to hear back from HR from some places after initial HR screen.

 

Dude, bad luck!

Answers to your questions:

1) Can only be answered by you. You enjoyed travelling, seem bored and may be a bit burned out. You may want to genuine break but I would hit the pavement because I am not one of those people who'd visit 30+ countries.

2) I'd approach the MDs you know best and respect you, as well as the Associates. If the senior guys don't know you, going directly to them may not elicit much

3) This stuff happens so often in banking it shouldn't be a problem. How you react to this is more important (e.g. Don't verbal the BB/MD whatever, don't sound bitter, be positive)

 

First, anyone who tells you that you shouldn't have a lot of your self worth tied up in a job is speaking nonsense. Anything you invest that much time, energy, and health into is definitely going to become a large part of your identity.

With that said, you're a statistic. It isn't personal. No one ever feels bad for the young single guy because they know with your resume you'll bounce back. They save the pity for the 40+ yr old who had the lifestyle job that will probably be choosing which bills to pay before he realizes he needs to take a pay cut to get back into the game and keep from going bankrupt.

So 1) pound the pavement now and spend your nights getting drunk on the cheap. Finding a job now takes a lot longer than it seems. Once you get one you can push out your start date a few weeks if you really want and travel for a short period of time.

2) Agree with HYA, go with anyone who can genuinely say your work is solid, and cover as many titles up the chain as possible

3) This happens to people who are cheap and young. You're still better than at least 95% of those your age in the work force. Dont get complacent when people tell you that you'll be fine. Stay after it and you will be fine.

 

It's funny about the girlfriend bit. I had a girlfriend who was really into me and we were doing very well together, and when I got layed off, I still treated her exactly the same, but her interest just started to decline and she treated me worse and worse until I couldn't go on with it, and we broke up.

2 months after that, I got a stellar job that was even better than the old job, and she magically started calling me again...

 
grapefury:
It's funny about the girlfriend bit. I had a girlfriend who was really into me and we were doing very well together, and when I got layed off, I still treated her exactly the same, but her interest just started to decline and she treated me worse and worse until I couldn't go on with it, and we broke up.

2 months after that, I got a stellar job that was even better than the old job, and she magically started calling me again...

I hope something bad happens to her and every other woman on the planet who operates like this.

And in the event that you took her back (please tell me you didn't...) - sorry.

I hate victims who respect their executioners
 

I can't really give you any advice. You did just do two years in banking which is pretty baller, so if this anonymous internet personality means anything, your self esteem shouldn't go anywhere haha

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
  1. look around, network. But i think funds are just wrapping up with hiring. Contact the HHs and see what the timeline is and use the spare time to travel

  2. associates, always go for guys who can give you the better reference and know you better. Global heads are good to get you interviews.

  3. just say you did well but unfortunately being layoff is just a part of the biz when the firm isnt doing well. People get laid off all the time and people are understanding of that. As long as your associates can give you good references i think you are fine (note: this differs by the fund...one instance i heard that a semi-mega fund actually rescinded the offer because the analyst got laid off before two years, which isnt exactly your case since you got 2 years under your belt)

 

Really sorry to hear that man. As someone fortunate enough to have found work upon graduating recently, your story resonates especially with me. Everyone has a unique situtation, of course, but here is my best guess of what I'd do:

1) Mandatory week off--not to accumulate references or catalog opportunities, but to do what you wish you'd been doing every weekend for the past two years. I'm not sure where you're located or what your disposable income looks like, but if I were you, I'd already be in the wilderness with my fly rod, some whiskey and a Vonnegut book. Maybe for you that means going out hard with your buddies every night, or a trip to Cape Cod. Regardless, I think it's essential you get grounded and focus your energy elsewhere for a bit before getting back on the grind. A little taste of freedom might remind you why you work so hard in the first place.

2) As many as possible without seeming gratuitous. Associates can write solid, personal recs, and what's the worst that could happen from running it by an MD? A former boss says "no"?

3) As with any interview question, spin it positively. Characterize it as the most humbling and motivating experience of your life, serving as a tangible reminder of why you will forever be known as the hardest working person in your office--regardless of where you end up.

Just my $.02

I was taught that the human brain was the crowning glory of evolution so far, but I think it's a very poor scheme for survival.
 

1) Take one month off. Right now. Go to wherever is next on your bucket list. One month is long enough to completely disconnect and recharge, yet doesn't affect your resume. Plus, it's August, you'd be pounding an empty pavement. Also, you worked your ass off, you deserve a nice break away from the big city.

2) One ref from all levels. One MD, one VP, one (or two) As. Choose only people who you are sure will champion you on a ref call. If these are mostly Associates, then provide their names.

3) Tell the embellished truth, as you did in your post: You had a 3rd year offer. Revenue down 50%. Was let go. Don't dance around. Be clear and concise when you tell the story.

Finally, don't rule out banking. Banking will be the easiest job for you to get back on track. BD will take months (corporate pace) to hire you. Buyside will most likely not look at you (to be perfectly honest) given competition. Were you in an industry team? Go join a boutique in that sector -- sounds great in your overall story, lifestyle is better, more (smaller) deals = more deal exposure. From that, you'll be able to jump to your ideal job.

Aei ho theos geōmetreî
 

Thanks for the reply and kind words. It was certainly sudden. As for clues and warnings: Its been publicized that UBS has done some major IB downsizing in Europe, and internally, we heard of rumors of it coming to the U.S. Last week I heard of two midlevel employees being let go, but wasn't really expecting it to go down to the Junior level.

As for performance: I would have thought I was middle of the pack within my group. I was/am not in love with the idea of staying past the analyst two years, but it would have been nice to finish it out. Maybe that lack of absolute commitment was apparent. I don't want to get specific, but we have one of the larger groups who has performed at a high level the last few years, but the last twelve months have not been superb, so it makes sense they would have to reduce headcount, and with the new summers coming soon followed shortly by first-years, I guess cutting at the analyst level made sense?

Long story short, in some ways shocking, but other ways it makes sense that someone would get the axe. I'm just curious to know how wide spread it is and if there is any sense of what to do after completing only one year.

Thanks

 

A few banks have made staffing cuts this year, which is consistent with the drop in deal flow in 2016 vs 2015.

Those who can, do. Those who can't, post threads about how to do it on WSO.
 

look, it happens....the most important thing is to start looking asap for your next opportunity....whether that be B-School, or an analyst spot at another bank or hedge fund / pe fund. Banks always like to lateral hire, because you bring with you experience from a different group of people.

Not too long ago, many 1st year analysts would be looking to jump ship after 9 months at their 1st gig...so just pretend that you are in that group, and move forward.

 

Thanks for all your kind words. Just to clarify some things: yes in NYC and I was in a coverage group. Later in the day I heard in my group alone they also let go a newly promoted AD and an ED who actually had good deal flow. I feel sorry for those guys as well, but its nice to know it was a fat trimming thing rather than anything personal.

I am from out of state, but definitely looking to stay in NYC and not sure if another BB lateral is the best move or maybe try something corporate. If anyone has any recommendations or know of any firms looking for analysts please let me know!

Thank you

 

Sorry to hear that.

Is this industry, as a whole, winding down? Deal volume hit an all-time high last year, the banks are cutting staff. Equity markets touched an all-time high, AMs are cutting staff.

 

That's so awful... I'm sorry this has happened to you and other 1st years... Reminds me of my friends in 2012. They got laid off a few weeks before their bonus payout day, through a telephone call from HR at that. You're still young and I'm sure there are others who would be interested in you. Good luck!

 

If you do the things you believe are right and best for you, everything will work out in the end. Keep moving foward!

"The curious task in economics is to demonstrate to men how little they really know about what they imagine they can design" F.A. Hayek "What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?" Adam Smith
 

Hey man I can't offer much advice, but keep your head up and best of luck.  Everything happens for a reason, I'm sure you'll end up with something even better than where you started.  Think about things in the long run and what you can learn from this experience.  Hope everything works out.

 

hey dude - when did you find out you were going to get laid off? how much time do you have? just wondering how these things are handled...previously, when i've seen layoffs, people were told to leave the same day and escorted out. just curious how your situation played out.

anyway, i know what it's like having seen rounds of layoffs before....but eventually you will land on your feet and things will work out. i can give you some contacts for leading recruiters if you'd like. just pm me and let me know more about the details of your situation and i'd be happy to help however i can.

​* http://www.linkedin.com/in/numicareerconsulting
 

First off, I don't think you're nearly as screwed as you think you are. I know people who actually QUIT their jobs midway through their first year and still found jobs elsewhere.

The fact that you were laid off because of the bad economy/recession makes it easier to position yourself - recruiters will definitely understand this. I would suggest contacting them right now as if you were looking another job because of slowdown in your group - you may not want to say anything about being laid off unless you are actually laid off and it comes up as a result.

They should not charge a fee to you. Recruiting firms charge the firm that uses them to recruit a fee, usually based on a % of the new hire's salary.

PM me if you want more specific advice... it's not the end of the world even though it may seem like it right now.

 

getting laid off is probably one of the BEST reasons to be looking for a job. recruiters and potential employers understand that...and to any firm that's hiring, this is essentially a blessing because they now have access to young professional talent (i.e. people who can work hard for less pay) that might have otherwise been locked in on the sell-side for a couple years

​* http://www.linkedin.com/in/numicareerconsulting
 

Stop whining.  You sound like my girlfriend.  You are 22 years old with limitless opportunity in front of you.  It is not like you have a wife and child to support.  You can get laid off 16 times and fuck around in your career through your entire 20's and early 30's and still be wildly successful.  Use this as an opportunity to try something new and expand your skillset.  I have a pretty good recruiter on file (PM me and I will send you his email).  Good luck and hang in there. 

 

I dont want to get your hopes up b/c I dont have enough specific details, but I feel comfortable saying that unless there is a wholesale clearout of your group (hopefully youre not in CDOs?), as a first year analyst youre probably in the best spot to be facing layoffs. At this stage, youre the most cost efficient labor in the business and firms tend to be slightly more sensitive about newbies on behalf of the recruiting process. Youre right to be practical though. This market is dire for structfin at the moment and firms might have their hands forced. So stay proactive like youre doing. I would also talk to your analyst class, see if there are openings in other groups at your firm - its usually easier for an internal candidate. Talk to other frends in the business, get out with them and network more. Also work on polishing up your resume and interviewing skills and definitely start conversing with headhunters out there. Directing control over things like this will help with the anxiety and helplessness you feel otherwise. And I know its cliche but youre young and you have your health. FK IT. You still have the talent that got you the job in the first place. Youll land on your feet. Hang in there.

 

Haha, your topic gets cut off funny in the sidebar: "When investment bankers get laid " -> the answer, of course, is rarely if ever.

More to your point, uhm, they look for other banking jobs or sometimes go to industry shrug There's no one right answer

 

hang in there. even though recruiting season for most BB's are mostly over, try to look for off cycle jobs (mostly through networking if u can).. reach out to alumni from your school and tell me them your situation and how you're interested in something more front office oriented..Then, try to get more contacts from them and eventually try to make your circle bigger. definitely keep in mind that while doing all this, no matter how shitty reporting was, try to leverage whatever skills you learnt from them. also be clear or have a good idea on what exactly you want to do - FO isn't good enough..try banking/trading/asset management and why..

 

Ya man, keep your head up. Bad things happen when you least expect it. I would keep in contact with your old employer though, something might come from it later down the road. Have you tried getting a hold of your friends, they might know someone to forward your resume to or put you in contact with someone in HR. At this point you have to leverage all of your contacts and alumni that you can. Good luck with everything.

 

I want to do trading...what type of roles do you think I should be applying for? The end-game is trading, but to get there I would probably have to do it via the MBA route.

If the goal is the best B-School I can get, then the question becomes - what type of opportunities are available that have the best exit ops to MBA school? I'm being realistic and assuming that all of the IB / MC spots are filled as of now.

(On another note, I do have my previous employer's list of clients. Would it be a good use of my time to go to each client's website - there are over 1000+ - and look at their career section? There are tons of boutiques that most people on Wall Street have never heard of. Or is it better to spend that time networking?)

 

Have you looked for trading assistant position or maybe one step below that. I would focus on networking that way you can explain why you did reporting for 1.5 years and what happened. See if an alum can set you up or help you out with something. An MBA can help you, but trading isn't really one of those must have an MBA jobs (correct me if I am wrong). Also, you want to do trading as your ultimate goal right? Well waiting and working doing something you hate for another 3-4 years is a pretty miserable thing to think about. Focus on networking and getting a position you really want right now and think about the MBA later.

 
fembotma:
Let this be a warning to others, never go into back office thinking u can move.

Speaking the truth. If you are happy with BO then that is fine, but do not go into it think that you will be able to transition. It just doesn't happen frequently enough to be considered a possibility.

 

Well my rule of thumb is unless it is in writing then it is all just hearsay. I know it sucks, but I am sure at the time they meant what they said, but unless you had it specified in your contract then there isn't anything you can do. Most places are so eager to get great recruits that they will say or embellish just to get you to take the position.

MSF student, ouch. Sorry man. Know what school they went to for their MSF?

 

Delaware.

Apparently it took the company over 8 months to fill the role (he replaced someone else as well, who sucked and they wanted to get rid of her for a looong time) because nobody with the necessary skill-set to fill the role (excel, VBA) would take the position for such shitty pay.

8 months to fill a role in the midst of a recession - that should tell you how shitty I was being compensated.

What kills me is that if it weren't for this stupid recession, I might have actually graduated college with a decent position, instead of graduating with no job and taking the first decent thing that came along with a 'promise' for a FO role. My year was the first year that BB's started to cut back heavily on spots, and some of the analyst spots that were open went to Masters students - that really pissed me off.

 

Honestly, you probably won't find too much luck to get into a front office role directly. Many BBs and elite boutiques are hiring again in some of their FO teams, but certainly not as desperate as they were back in 2004 and 2005. Even so, there are so many qualified candidates with prior FO full time experience now trying to get back to work as the hiring starts to pick up again. Based on your credential (BO role and totally irrelevant to trading), you will face a very stiff competition when looking to move to the FO directly at any decent shop.

IMO, your most realistic move is to stay in your financial reporting role for another few years with another firm and get a top-tier MBA afterwards. The whole idea of going to MBA is for future promotion and switching career.

 

the market fucking sucks. i assume u got fired because the market sucks not because you suck.

keep in touch with people you worked with, see if they can set you up with any connections they may have for interviews.

As far as your resume is concerned, provide it to other bankers/other professionals you worked with and go from there.


The world has changed. And we must change with it.

------------ I'm making it up as I go along.
 

Are you saying that they rescinded your SA offer? I have not heard of any banks doing that. Would you mind sharing (or ballparking) what bank it was?

On another note, MM IBD seems like your best choice, if it is a somewhat legit and well-known firm.

 
lasered:
Are you saying that they rescinded your SA offer? I have not heard of any banks doing that. Would you mind sharing (or ballparking) what bank it was?

On another note, MM IBD seems like your best choice, if it is a somewhat legit and well-known firm.

Reason is they are TARP receiver. They dont hire internationals, not even intern. I didn't know that, the manager didn't know that and HR just told me today about the new rules.

 
GSmonkey:
The exclamation points after "off" make it seem as if you truly enjoy being laid off, just a note.

Every fucking post I read of yours I think either you're a tool, or dumbass... STFU!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Anyways....

What company did this???

 
GSmonkey:
The exclamation points after "off" make it seem as if you truly enjoy being laid off, just a note.

lol, i thought the same thing.

But thats truly unprofessional for them to do that to someone. I dont know what I would of done.

 

PWMonkey I am sorry to hear this, Obama is a really big screw up. I hope that you are able to find something else for the summer. Are you an MBA?

I am not trying to be a jackass, but how could you not know about this rule? I heard about this over two months ago (and there was a big thread about it on WSO); if you followed the news at all then you would have known. Or did you hear about it and assumed that it wouldn't affect interns? Either way it is your fault for finding out so late that you don't have an internship.

I hope that things workout in the end, and if you want to do IB then take the IB position if you can.

 
stk123:
PWMonkey I am sorry to hear this, Obama is a really big screw up. I hope that you are able to find something else for the summer. Are you an MBA?

I am not trying to be a jackass, but how could you not know about this rule? I heard about this over two months ago (and there was a big thread about it on WSO); if you followed the news at all then you would have known. Or did you hear about it and assumed that it wouldn't affect interns? Either way it is your fault for finding out so late that you don't have an internship.

I hope that things workout in the end, and if you want to do IB then take the IB position if you can.

No I am undergrad. I knew about the rule but I thought its for MBA H1B visa only.
 
KB24TD21:
This is happening everywhere not only America, in the UK they're not taking internationals easily either. It's going to be like that for the next little while and it sucks

Are there similar rules in UK against international new hires? Where should I check for this type of updates (I am being hired by a BB and am about to move to UK)? Damn the protectionism!

 

While you're looking for a job, use the rest of your spare time to enroll and study for the CFA Level 1 December exam.

Those who can, do. Those who can't, post threads about how to do it on WSO.
 
SSits:

While you're looking for a job, use the rest of your spare time to enroll and study for the CFA Level 1 December exam.

I echo this. Your accounting background should make the plurality of the test more accessible, and it will demonstrate that you're willing to invest time and money into your professional passion. But yes also start networking hard ASAP.

 

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http://www.qonnect.me Qonnect.me - a simple resume consultation service for entry-level jobs in finance and technology
 

No, I work in healthcare coverage in Charlotte, at a significantly bigger bank. I went to school with this dude.

I'm legit trying to help. We did our MSFs together directly after college.

Array
 
Cries:
He was working at a small boutique in CA. Money issues caused downsizing, and they used a LIFO system (he started 6months ago).

Focused on capital raising, private placements and M&A in software, telecom, and websites in the US, India, and China. He has a recommendation letter from his former boss.

He's still in California. Looking for advice on what the best way to position himself would be. I'm trying to help, but I've never been in this situation - not sure what to recommend.

Anyone have input?

Tell your friend to do what he did when he got the first job...network and apply

Do what you want not what you can!
 
melvvvar:
is this some kind of sunglass boutique? if royal blue complements his skin tone best buy is still hiring.
Never met an asian that actually looked good in Best Buy blue shirts; probably wouldn't work out.
Array
 

Just FYI, jumping from something unrelated to Finance to ER is going to be quite a challenge. You better start networking ASAP.

Super Nintendo, Sega Genesis - when I was dead broke man I couldn't picture this
 
energyanalyst:
I dont want to join some thing related to geophysics and leave in 6 months because of offer for ER role.

Don't be stupid. Go get something related to geophysics, network your ass off for ER, then leave when you get a job. You have no idea if it'll take you 6 weeks, 6 months, or 6 years to get a spot in ER, nor is it your problem if your new company has to replace you after however long it takes.

"My caddie's chauffeur informs me that a bank is a place where people put money that isn't properly invested."
 

Your best bet is with a smaller capital markets group who would be willing to take a risk with someone who has domain specific knowledge but no direct modeling exp. Also I would try to get into Onshore E&P research Vs geophysics.

Rarely will any of my posts have enough forethought/structure to be taken seriously.
 

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