Hi, I've been working in the industry for about 9 years, but I left my last role after my dad passed away in May last year and my mom the year before. I took it really hard and my family thought it would be better for come work for them. I've been working in a family business (non-financial services) for the past year but started to attempt to transition back into Finance Services, but it's been challenging. I feel a definite disadvantage because I've been out for almost a year. The most common question I hear is "Why did take you so long to get come back to Finance?" Honestly, I feel like I'm screwed even when I explain.
Any suggestions would help.
I am having that exact same problem. I took the same amount of time off as you and now it's very challenging for me to gain any interest when trying to get back in the field. It's very frustrating because we're being black balled for something that was out of our control.
I guess my best suggestion would be to reach out to managing directors directly. I think for us the standard application process is pretty much useless. Some of these positions are getting well over a thousand applicants. HR peeps wouldn't look at us twice when they have tons of applications with more current experience.. Try to get to know a few people at these firms and see if any of them will be able to eventually push you through. The more you try, the better your odds. I've heard of some people on here that sent over 4,000 emails! lol! Just keep trying and best of luck!
What line of finance were you in? Reach out directly to people you used to work with and to others in your network. Apply all you want to online positions but you'll have much better luck with people you know.
And your reason is 100% legit. Losing both parents in a year is tough and most older people will understand because there's a chance they and/or their spouse has lost a parent(s). And, if it's not actually true, you can easily spin going to work for the family business for a year as wanting to make sure that the business would continue and thrive through a management and generational transfer. I'd even put it in my cover letter and spell it out in your resume (in a professional way).
This
Legit reason imo.
Cover letter with every role outlining exactly why it happened (needed to be there for the business) and what you learned from the experience (perseverance, real world experience of working and helping a business, leadership skills, time to figure out that finance really is your passion). Spin it as a positive because to me you sound pretty fucking impressive having dealt with that shit and getting back on the horse! SB for you!
DingDong has solid advice.
How are you applying to jobs and what types of jobs (level/sector)? After nine years of experience I'd imagine you have a decent network of real friends, industry friends, and professional contacts. That is your best bet. Regardless of situation, that is always the easiest route. Especially if you know someone that front runs your story in the pitch process of why they should hire you. Also kinda removes the complete burden on your end.
Can you give specifics about your desired location, role/level and industry?
I was Manager for Trade Support for Institutional Equities and Fixed Income. I've been looking in at roles in Client Services, Middle Office/Trade Support and Business Manager roles in Boston, Chicago, LA, SF, and NYC/NJ. The role is harder to find as most sales and trading desks consolidate.
I've been applying for junior trade support roles in NJ/NYC. Not too many openings listed as you said. Crazy thing is, I'm not even getting any responses from any of the apps I sent out. I'm starting to consider just doing accounting...
Sorry to hear about your loss. Family passing away is one of the worst experiences - I still choke up time to time at the most random times. It makes for an awkward explanation.
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