I was fired today, don't know what to do....

I've been working for a year at a large investment bank as an analyst in M&A. I was fired today after an argument with my associate that happened a couple of days ago. I'm still in absolute shock right now. I'm no longer interested in work in investment banking or finance after this experience. I am not sure what to do, I have no other skills than the ones I developed in investment banking, and they don't seem very applicable to any other roles besides finance. I am really in a dark place right now and don't know what my next step is. I am thinking about doing grad school in statistics or computer science or something quantitative, but I have no idea how that process works. I don't know what my next steps should be....

Are there any jobs out there that I can apply the skills I have built up in investment banking, but that isn't in the financial services industry?

Comments (118)

Jul 26, 2018 - 8:45pm

Find a boutique on the west coast near the beach and take up surfing. Shit happens, worrying about it is a waste of time. Forget it, laugh about it, and think of it as a minor set back.

What concert costs 45 cents? 50 Cent feat. Nickelback.

  • 30
Jul 26, 2018 - 8:51pm

You have a year of IB experience under your belt you have a lot of options. You could also go work in BusOps, CorpDev etc for a Tech firm in the Bay Area and find yourself a nice bay area beauty (joke intended). Keep your chin up man

What concert costs 45 cents? 50 Cent feat. Nickelback.

  • 3
  • 3
Oct 28, 2018 - 4:38pm

You're Fired (Originally Posted: 12/17/2009)

In today's world, there are plenty of ways to get yourself a pink slip. Some of them legitimate, like, say, refusing to commit treason at your company's behest, while others are not so legitimate, like, say, using your dog's urine to pass a company drug test and then bragging about it to the person you forgot was your boss...because you were high.

In fact, today you don't even have to WANT to get fired to get fired. That's how bad it is. Today, I was clocking in my daily three hours of pants-less Internet trolling (no, I didn't get fired) when I came across a story that wasn't so much shocking as it was hilarious. Well, that and sad. The Star-Telegram reported that four Fidelity employees were fired this week for... yes, that's right...playing fantasy football. I was immediately reminded of the scene in Knocked Up when it's discovered that Paul Rudd is not cheating on his wife, but playing fantasy baseball -- you may know which one I'm talking about...

First of all, it's hilarious that these guys were fired for playing a fantasy game. I hope they got their money's worth before leaving. But I sympathize with their feeling screwed. If playing fantasy sports constitutes gambling, then my younger brothers should probably go to rehab.

In the spirit of empathy and holiday cheer, I will admit that I may or may not have almost been fired because I told my red-headed boss that it was only a matter of time before her pants were set on fire.

So, I'd love to hear from the brave souls out there willing to share the absurd reasons for their own unemployment -- or examples of employees getting laid off for unsettling and/or inadequate reasons.

For unemployed and freelancers alike, I think we could all use some stories that give us some relief.

  • 5
Jul 26, 2018 - 9:12pm

So this firm has been going downhill for a long time now and a lot of people from my team recently left and the workload intensified to the point where I was staffed on 11 different projects at the same time. We kept on missing deadlines, and I guess my associate's boss got upset about it and took out his frustration on the associate. The associate came back after that meeting very agitated, and started to yell at me in front of everyone in the office. I was so frustrated with the situation, and I got into an argument with him, that was 2 days ago. Today I went to the office, only to find my key card disabled, HR and security guard waiting for me.

Controversial
Jul 26, 2018 - 9:31pm

Whatever dude, boo hoo. Shit happens. Millions of people get fired every year. Take a week break, try not to think about it, then start to strategize with a clear mind.

Array
  • 4
  • 25
Oct 28, 2018 - 4:39pm

Star-Telegram is a like a tabloid though

========================================= We are excited to formally extend to you an offer to join Bank of Ameria
Oct 28, 2018 - 4:40pm

I saw this one myself, and it reminded me of a PM I received about a week and a half ago from another WSO user.

He asked me if companies generally read all the crap that goes back and forth on the inter-office IM system. Specifically, he was wondering if it was kosher to occasionally make a snide remark about the boss on the IM system, and he was wondering if it was monitored by IT.

My answer was no, they don't read your IMs until you give them a reason to read your IMs. These guys that got fired for fantasy football on the company's time didn't get fired for fantasy football on the company's time. Hell, one of them had only received 2 IMs from a buddy, and never even responded. They got fired because they pissed someone off in management. The fantasy football nonsense was just the reason the company used to make it legit.

To make a long story short, kids, I'll give you the same advice I gave to the guy who asked me. Use your noggin. Don't put anything in an email or an IM that you wouldn't want everyone else in the company to read. If you ever piss someone important off, this will be their first line of attack against you. They'll have IT run all your shit and toss your ass if anything is even remotely questionable. It really is the easiest way to get rid of someone these days.

Oct 28, 2018 - 4:42pm

You guys are right. It seems Fidelity was looking for a reason to get rid of these guys and found gambling to be a convenient excuse for the firings. It would be interesting to learn what they did to piss off management.

My sense is that this happens all the time...companies use infrequently-cited codes or rules as grounds for dismissal, even though they are often a stretch from what actually happened or not really related at all.

I think I still get points for my fire crotch joke though, no?

  • 1
Oct 28, 2018 - 4:45pm

What would you do if you got fired tomorrow? (Originally Posted: 05/19/2018)

If you were fired suddenly, what is your contingency plan? Send out resumes to 1000 job applications?

Jul 26, 2018 - 9:44pm

Keep your chin up man. If the workload was like that, you will most likely upgrade. Agree with the advice to take a week (or two) to relax, and then go out hot recruiting

Array
Oct 28, 2018 - 4:46pm

Hi TheBestMan, check out these threads:

  • Suddenly rich out of primarily luck. What would you do if you were me? results, what would you do? Would you continue to work a corporate job? Start a non-profit? Go to graduate ... I got in early on a financially-related start-up doing some modeling/programming work. After ... I have a tentative plan for what I'd like to do in the next few years. Since 'm not currently ...
  • If wallstreetoasis.com went public, what would you value it at and would you invest? public. What do you think it would be valued at, would you invest in it, how would you alter the website ... So all these social networking sites going public got me thinking, what if wall street oasis went ... to make it more profitable, etc.? This is just a for fun question btw, so if the o
  • What would you do if you were in this position? Given that you obtained a FT offer for operations for a BB not in NYC and had a tight deadline for ... agreement. But You were interviewing for these positions IB Analyst MM firm Equity Research Analyst MM firm ... interview. I got to speak to those people from other referrals. The thing is I still have a few rounds of ...
  • What would you do if you were me... (senior) banking. So I ask you, if you were in my position and wanted to go into investment banking what would you ... do? Hell, if you wanted any self-respecting job. I would appreciate serious responses. TY in advance ... that I was a dumbass for doing poorly in school, I didn't exert myself nearly to w
  • Travel: What would you do if you could do anything? Asia (want to stay warm) What would you do" Bucket list items as well as general goals How should ... Instead I am planning a 2-4 month trip on a budget of ~$12,500 between now and then. If you were in my ... situation: Where would you go? Primarily interested in US, but also open to South America / Australia / East ...
  • If you made fuck you money what would you do with it? what you do and try to be the next baller but would you even have enough time to spend that money if ... you were (even if you were retired)? Obviously the more money you have the easier it would be to ... a hard time spending more than you make... unless you're just rid
  • What would you do if you received an 8 figure trust fund at age 25? do you grow? Why would someone invest their money with a genetic lottery winner? to Friday, April 13, ... Assuming you are too young to early retire but also don't want to work for someone else and ... get treated like dogshit anymore. I'd like to do something entrepreneurial. How hard is it to ...
  • More suggestions...

Or maybe the following pros can chime in... GSP123 @Naram-Sin" @A User Has No Name"

Fingers crossed that one of those helps you.

Oct 28, 2018 - 4:48pm

Happened to me during my first job outta college. I walked to the church and prayed to God for a resolution. It was a really tough couple of months. I wasn't working in investments at the time it was some stupid market research type role. I just hammered my network + job applications and had nearly zero success. Eventually took another shitty job at a firm similar to the one that let me go. After a year of that I broke in and got my resolution... next I will have my revenge.

Jul 26, 2018 - 9:58pm

You've got this. Give yourself time to mentally reset and then hit the ground running. The important thing is that you have options. Plenty of them.

  1.  
  • 2
Oct 28, 2018 - 4:51pm

How to approach being fired? (Originally Posted: 08/16/2017)

Hi all, I'd like some professional advice from you all. Recently I got hired to work as a waiter but could not survive the training period (as I found out when I was told I had to leave). This was my first ever job so I had no prior work experience in any form to help me if I made mistakes.

I took my manager's words with grace -- I was honestly most worried that I did something inappropriate that had me axed, though this wasn't the case. But I still feel pretty lousy regardless. I felt pretty proud of myself for being able to get a job because I tend to be really shitty at interviewing (which is something I need to practice, I know). Now, part of me feels like I'm unemployable. I hope that this is just the shock of being fired speaking though.

At the same time, I also felt that being able to experience my first ever job was pretty remarkable though it was at an otherwise unremarkable place. I have always been told that people have to shape up when they're in the workforce and for the first time I was in an environment that really demanded that I show my most professional face. It was really the first time I ever got to see my professional side begin its development and it was the first time I got to meet it. And to be honest I still found myself enjoying working. I enjoy productivity.

I was also forced into uncomfortable and mildly awkward moments with people and I essentially had to toughen up to get over those situations really fast. And I thought that was something valuable that I took out of my first ever job.

WSO users, I'd just like to hear your advice on the most professional way of exiting a job so that I can get a better understanding of this aspect of employment for in the future if I ever find myself at a bank, hedge fund, whatever have you. I figure that this post could also serve some use for anyone else now or in the future.

  1. Is it appropriate (even encouraged?) to ask your manager/supervisor/whoever manages you where you fell short in your job and why you were fired in more details?
  2. Do you wait for your manager to offer you a recommendation, or is it perfectly okay to ask them upfront if it could be possible if they could see if someone else is looking for a hire?
  3. What is the best perspective to take when getting fired? What should I think about from this experience and any other future experience I encounter?
Oct 28, 2018 - 4:52pm

so soft

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/
  • 10
  • 2
Oct 28, 2018 - 4:55pm

I got fired once by a douche of a manager (literally the only manager I have ever had an issue with) at an internship. I said thanks for your time and left the office, got another (better) job within two weeks. If you deserved to be fired then you should look inwards in order for it to never happen again, if it was just a douche move like the manager I alluded to then say fuck em' and move on.

Array

  • 2
Oct 28, 2018 - 4:54pm

You take a deep breath, thank them for the opportunity and respectfully exit. This is the only way.

“Elections are a futures market for stolen property”
  • 4
Oct 28, 2018 - 5:01pm

I would be concerned and do some serious inner searching for why you couldn't handle such a simple job. You need to fix whatever your flaws are quick before you get in the real world. You could be perfect and lose your job for reasons out of your control out here. So just think about what your odds are if you're truly a poor performer.

Not good.

Feb 10, 2019 - 4:35pm

Trust yourself in this. First, take some time to clear your thoughts. Second, prepare a sound plan and third, stick to it. Most importantly, you have many opportunities and good options. Keep your head up high.

You're walking around blind without a cane, pal. A fool and his money are lucky enough to get together in the first place. Gordon Gekko
Most Helpful
Jul 27, 2018 - 1:45pm

It sucks, getting fired, no matter how you slice it.

But it seems like you were collateral damage, wrong place at the wrong time, if you and your associate hadn't snapped yesterday, I'd wager this was a powder keg that had a short fuse and was going to happen sooner or later.

Think and answer this honestly: if you hadn't gotten into the argument, how long do you think you could have managed in a place where there was a continual exit of people, the place "going downhill for a long time" along you and your associate spread so thin and blowing past deadlines?

Try to cut yourself a bit of slack and learn from this. Keep your temper and if you must snap, do it one-on-one, in an office with the door closed and no witnesses.

Then remind yourself of all those people that got into car accidents shortly after first learning to drive, or who have god-awful stories about losing their virginity.

Few people stop driving after accidents. Few people stop having sex after a lame experience.

And few people completely switch careers after getting fired, especially so early on in their careers.

Once you've gotten past the shock and awe of getting fired, you will likely see this situation has a silver lining. Go find other work in investment banking... don't let one bad experience taint all your work and effort.

Good luck and keep us posted.

Jul 27, 2018 - 7:37pm

It was two years ago when I was fired from my first job out of college. It wound up being a blessing in disguise. It sure didn't feel like it when I was I was escorted out and walked to the church and sat there praying/crying. And then it didn't feel like it either when I was spending my days in the public library applying for jobs or sitting in the woods behind the cemetery to avoid having my parents/friends/girlfriend find out. But it worked out beautifully in the end.

Jul 29, 2018 - 11:38pm

Walked into work one day, HR came and grabbed me and the group head laid me off. I had been interviewing for an IB role in a diff city so I was staying at my parents and hadn't moved into my new apt. So I would get up in the morning and avoid my parents... I would go walk around town or sit in the library; or, I would go into the city and lie on the floor of my unfurnished bedroom. Once I got officially dinged from that IB job the wheels really came off lol. I continued the charade for two weeks but eventually my mom and girlfriend found out.

To back up for a second, the job that I was just fired from paid $50k, was absolutely menial and I was embarrassed by it. While working there I was thoroughly obsessed with breaking into wall street and being able to tie my self-worth to a career I was proud of. I absolutely clawed my way into that IB interview and getting dinged from that was crushing in and of itself, but to then get dinged from the actual job I did have.. well, it was quite difficult. The reason I hid my being laid off from my family/gf was that they were already concerned with how bad I felt about myself as a result of being in a line of work that didn't give me satisfaction.

I wound up going to a competitor of the firm I was laid off from. During the first couple of months there I gained my sanity and the 30lbs that I had lost in the preceding months. I got back on the grind and harassed my way into an interview process which I capitalized on, served well by the experiences of the past year which converted me from a mere man into a beast.

Feb 10, 2019 - 5:42pm

Got canned - next steps? (Originally Posted: 05/21/2014)

So my desk is getting shut down. You can probably guess which bank. Not to say I didn't have it coming - I most certainly did. Moving home to NJ to figure out next steps. I went to a pretty good school, decent grades but nothing special as I was having too much fun, been on the desk for almost a year now out of undergrad.

Curious what you (current traders) would do next if you suddenly canned today...need some ideas. Thanks.

Jul 29, 2018 - 1:30am

One analyst at my firm went through the same situation as yours. He argued with an associate, things escalated, the argument kinda turned into a quarrel. He later was scolded brutally by an MD and then fired.

However, the analyst found a new job at a wealth management firm (He leveraged his industry network). Two weeks after being fired by my boutique, he ended up working at a new place.

Being fired not the end of the world. Eventually, you're gonna find a new job whether it's finance-related or not. Actually this could be a good turn for your career since you said you're not fit in IB.

Array

  • 1
Feb 10, 2019 - 5:51pm

Lol someone above got it right. I'm not really looking to get back into trading...this was more to find out what other stuff you existing traders would consider doing (or would have the skills to do) if you were canned from your job

Feb 10, 2019 - 5:52pm

corp fin, maybe. It really depends on what you want

Because when you're in a room full of smart people, smart suddenly doesn't matter—interesting is what matters.
Feb 10, 2019 - 5:53pm

You're 1 year out of undergrad. How are you not in a program run by HR where they can place you on a new desk, especially when summers here???

You're just a year out of undergrad.... You can do anything you want. You shouldn't be pigeon holed into anything.

Feb 10, 2019 - 5:55pm

Hey... If the man doesn't want to name the bank, let it be... I got canned last month... Actually, I quit cause the firm wasn't doing so well. Right now, I am living on my life savings, luckily for me, I was never a big spender like most of my peers, so I have the luxury to lay low. I have interview with a bank for a trading spot, salary is definitely not what I'm used to but you gotta start somewhere. I may be moving to Saint Louis, this should be a dead give away... Honestly soon as I get the job, I'm gonna be going for my CIPM and CFA designation. Obviously, I can't now because I'm looking for a job and can't commit to it. Too bad honest, you have to do what you have to do. It's a dog eat dog world out there and people aren't gonna pay for your mortgage or feed your kids for you. Do what you have to do to get a job. I forgot the actually quote, but I read once... "If you don't know how to do the job, get the job and learn."

Feb 10, 2019 - 5:56pm

Sorry to hear that. As an incoming S&T analyst, this is something I might have to deal with in the future. I would start working your network and see what opportunities you can come up with. Like someone else said, with just one year of experience, I don't think you are too pigeonholed into one product yet. Good luck with the search.

Feb 10, 2019 - 5:58pm

If you're coming from a BB, there are many smaller boutique firms that'll pick you up. A lot of smaller shops are looking to bring in young guys esp if they're from bigger firms. Talk to a headhunter and send out your resume to as many alumni as you can find on linkedin.

Feb 10, 2019 - 5:59pm

First off, you didn't get canned. You were laid off because of Corporate Downsizing most likely under a WARN Notice. There's a big difference when your fired under a WARN notice and when your fired and it's not under a WARN notice. Employers understand that being laid off as a result of the WARN Notice. It also has different connotations because you didn't get fired for anything other than being downsized. IF it wasn't under a WARN notice, you getting fired could mean a lot of things.

Second, see if you can find work at another bank or look to move to a different desk. If you spent a year on a desk, consider looking at Corporate Treasury doing trading and capital management for F500 companies. If you have an idea for a start up, then go ahead and toy with that if you want to. This is the time to explore other options while you have the time as well.

  • 3
Jul 29, 2018 - 1:21pm

If you want to go into tech, a good option would be to do one of those coding / data science boot camps. Startups are always looking for smart people who have good experience. Best of luck man

Jul 29, 2018 - 10:51pm

My friend is a recruiter for tech companies. He said to avoid the boot-camps. All they generally do is take your money.

No pain no game.

  • 1
Jul 31, 2018 - 1:54pm

If you're into tech, do flatiron bootcamp or app academy. My friend went through the same thing, did flatiron bootcamp and now he's a VP at a unicorn making twice what he take home as an analyst. And this is definitely Deutsche LOL

Jul 31, 2018 - 7:04pm

definitely trolling. c'mon guys lol.

Anyone reading this in the same position, getting fired is a blessing in disguise, 99.99% of people find a better role (youre never paid what youre actually worth, when you get fired youre forced to find something new and obviously then you can leverage your experience)

then you look back and laugh 5 years down the line

  • 4
  • 1
Aug 2, 2018 - 7:44am

In my career so far, things have somehow worked for the better whenever it seemed like I had made the wrong decision / something hasn't worked out. It feels like crap at the moment but as you get older, wiser, and more financially secure, you become more comfortable with uncertainty and start to view each mistake as a learning experience rather than a catastrophic failure that will doom the rest of your life.

If the IB culture isn't for you (don't blame you) then it's better you learn this now when you're young and moldable rather than when you're older.

Aug 2, 2018 - 6:03pm
iquitbanking:

Head up dude. Consider the buy side.

Name -> storytime?

Array
Aug 3, 2018 - 4:13am

When one door closes another opens.
Take a trip to India.
Take some LSD.
Find meaning in your life.
Start a trillion dollar company like Steve.
Easy!

Aug 3, 2018 - 5:19am

Keep your chin up and don't panic! Being fired always always sucks but it can always be a blessing. If you say you are not interesting in working in finance anymore now you can take your time to find out what field you really want to work in and take action! Maybe you can see this as a chance!

science is organized knowledge - wisdom is organized life. Kant
Aug 3, 2018 - 1:27pm

A lot of startups looks for people with 1+ year IB/ consulting experience . You should be able to look into corporate strategy or operations careers. There are a lot of great opportunities for people who've been in IB. Be positive and leverage your experience.

Aug 3, 2018 - 1:41pm

Getting fired blows...initially. I was fired from my first job at a small boutique in January 2009 on the same day that 90,000 other terminations were announced in total by all the big banks. So I wasn't alone.

There were no jobs then and I had no idea what I wanted to do so I took my time and figured out my next steps. I read a ton, worked out and played b-ball daily and just started networking.

Email blasting every contact I could find and kept a clean spreadsheet of all correspondence so I could follow up and track all convos. Eventually landed in M&A at a bulge which launched my career in a whole new direction. Today I'm in Corp dev and loving it.

If you don't know what you want to do that's fine, just focus on how you can improve yourself and take advantage of the time you have to speak with people in various career positions. I believe most people like to help those in need and eventually you'll come across someone who connects with your situation. I did, that's why I wrote this post. Good luck.

Aug 3, 2018 - 5:33pm

I'm glad you mention you are thinking about going to grad school in stats/cs because I used to work in banking and am now doing that. I interned in a top group at GS/MS and didn't get the return offer because I lost interest in finance and wanted to work in tech. That experience was a turning point for me, and I decided to turn down an interview at McKinsey to go to grad school in CS. Fast forward two years and I am doing cutting-edge machine learning research in a PhD program. My time is mine, I can surf whenever I want, and most importantly, what I am working on is what I think is the most interesting thing I can be working on. Now I am glad I didn't get a return offer because I might have actually taken it and would have been miserable. So I would encourage you to take this opportunity to work on what is most interesting to you and apply to grad school. Work on something you think is important and interesting. Everything else will work itself out.

PS: getting into grad school is all about research experience. If you didn't do research in undergrad, try to do some research in your next job. There's plenty of advice online on how to get into grad school.

Aug 4, 2018 - 3:16am
  1. Don't sweat it. Jobs suck, and never pay you enough for your time. Now you get your time back, albeit without the money. Money will came later. For that reason never, ever spend more than you make. Keep expenses as low as possible, especially early in your career. You want to keep your options open, and just a little money in the bank can help immensely with that.

  2. Use this as an opportunity to get some of the personal life stuff back on track. That may be to get back in shape, take out that girl, travel. You won't get this chance again.

  3. Limit any job searching to X hours per day. Otherwise it gets all consuming.

  4. Figure out what you really want to do. It's no point running a million miles in a direction you don't care about. Talk to friends, family, and especially yourself. Shadow some professionals, apprentice, and see what it's like. Follow a lawyer around, and see what that job sucks. Follow a doctor around, talk to your military recruiter. Expand your horizons.

  5. Consider tech, a coding bootcamp, or starting your own business. Get yourself a side-hustle.

  6. Consider teaching English abroad. I think you can make decent money in China and Japan, while learning a new language. I did that in China and it changed my life.

  7. Recognize you have too much of your ego wrapped up in the job. It's just a job, jobs suck, this one is no different. I've been fired many times, and it's rare I've ever looked in rear view mirror and regretted it. F- those guys. I hate working, and was generally glad to be rid of the job.

  8. A better job IS around the corner. One of my buddies, ex-McKinsey, got laid off with me from a tech company. Someone asked him what he'd like to do with his time, if he had infinite money. He said he'd like to teach high school, and write and illustrate books? Nuts right? Yeah, well now he teaches high school and is a best selling children's book author and writer, and a minor celebrity in the space. Another dude who got laid off same time said he wanted to go to med school. He's an anesthesiologist now. Do what YOU want. Not what someone else wants for you.

Aug 7, 2018 - 10:24am

Damn, really sucks. Guess it doesn't matter at this point, but anymore color on what transpired with your associate? It takes a lot of paperwork and sign-off's from higher ups to get fired as a 1st year....did you try to appeal to a staffer or VP that you had a good relationship to try to resolve the conflict? Anyway, what's done is done so probably isn't productive to rehash what ifs and different outcomes. I would, at least, try to reflect on what lead to your termination and what you could've done differently in retrospect. Regardless of what career path you choose next, you should try to use this as a learning opportunity and improve or correct bad behavior / habits.

Going forward, you're not e'fed for life by a long shot. You're very young still and definitely not pigeonholed to do finance work forever. As you stated, you're in a state of shock and disbelief currently; going from having your waking life dominated by your M&A group to sitting at home and doing nothing / having no income is jarring. Try to take some time away from your apartment and go on a trip or visit your folks / friends out of town for a few days. Try to relax and keep busy during this down time meeting with people and have some fun. This will help you clear your head and will bring things into perspective.

Will say, if you want to totally exit finance / getting another IB job, be really sure this is what you want to do and not just reacting to a bad experience. Getting back into another analyst program will only get tougher the longer you're away from the industry, and given you've only got 1 year of experience, could put you in a tough spot later on if you change your mind. If you do ultimately decide to try to go to another bank, start hustling your tail off to get interviews lined up after your short break. There'll definitely be some banks that wont want to take you based on what happened, but plenty of others that wont care as much as long as you spin your story right and demonstrate you can step in off the street and start helping out a deal team. This sell isn't as hard as you'd think, as you've already been trained, taken your series tests, and have a year of full time experience under your belt. Would be a logical fit for a group that's understaffed and needing warm bodies; again, assuming you craft your story right and have a person on the hiring team vouch for you. Good luck to you.

Ace all your PE interview questions with the WSO Private Equity Prep Pack: http://www.wallstreetoasis.com/guide/private-equity-interview-prep-questions
  • 6
Aug 8, 2018 - 2:35pm

Want to append to my comment and just make a general observation for other readers, apropo of nothing i'll preface.

Think it's fair to say that most people on this website are ambitious people with dreams of being valued and respected by your peers by pursuing these lofty finance positions. This is a fine and noble pursuit but it has it's side effects as well. We look at some of these guys and gals bios on MF websites with spotless track records and pedigree and to us that's not something to achieve and work for but viewed as the norm.

It's not. Everyone has a different path in life, makes mistakes, fall short, and come from different backgrounds. Chasing a ghost that's not meant to be will drive you mad, you've got to do what's best by yourself and pursue opportunities that'll get you where you want to be. Getting fired sucks, but it happens all the time, even to these rockstars on Warburg Pincus team page. Who fucking cares. We're not starving, we have every advantage in the world and it's not worth getting twisted into a knot over. This isn't life or death consequences, if one door closes there's another one out there to try to open. Not all is lost, just keep hammering, do what you need to do and not try to take all this too seriously.

Ace all your PE interview questions with the WSO Private Equity Prep Pack: http://www.wallstreetoasis.com/guide/private-equity-interview-prep-questions
  • 10
Aug 8, 2018 - 2:45pm
Stringer Bell:

Want to append to my comment and just make a general observation for other readers, apropo of nothing i'll preface.

Think it's fair to say that most people on this website are ambitious people with dreams of being valued and respected by your peers by pursuing these lofty finance positions. This is a fine and noble pursuit but it has it's side effects as well. We look at some of these guys and gals bios on MF websites with spotless track records and pedigree and to us that's not something to achieve and work for but viewed as the norm.

It's not. Everyone has a different path in life, makes mistakes, fall short, and come from different backgrounds. Chasing a ghost that's not meant to be will drive you mad, you've got to do what's best by yourself and pursue opportunities that'll get you where you want to be. Getting fired sucks, but it happens all the time, even to these rockstars on Warburg Pincus team page. Who fucking cares. We're not starving, we have every advantage in the world and it's not worth getting twisted into a knot over. This isn't life or death consequences, if one door closes there's another one out there to try to open. Not all is lost, just keep hammering, do what you need to do and not try to take all this too seriously.

This is great advice, thank you. I'm not 100% sure I believe that the rockstars at MFs have ever gotten fired (it would be hard, though not impossible IMO, to rebound back to that level) -- but overall, I really agree with the message. Do you have any personal anecdotes to share here?

Array
  • 2
Aug 9, 2018 - 6:20pm

Hey man,
I haven't read all the comments here but I can guarantee you that sometimes being fired is actually a good thing; it allows you to move on and turn page to the next chapter of your life.
Your approach must be positive though!!!
If shit happened, it happened for a reason, it wasn't the right place, it wasn't the right people.
Now just stop one second, think about what you like, what you would like to do, and do your hard work in terms of CV update, applications, reach out to people, etc etc etc.
If you work hard, the results will come, and quickly. You need to believe it!!!

If you need further advice feel free to PM me, and good luck

Aug 11, 2018 - 3:01pm

Sorry to hear about your termination. It happens to all of us, and we all have to figure out the next steps. LOL that Ibanking offers no transferrable skills. It could be you didn't have the skills to be successful in the first place (soft skills, negotiation skills, collaboration skills, stuff they teach management consultants about how to get buy-in and generally manage friction within teams). I suggest going back to school for an MBA from a top tier program, or getting a degree in CS as the way to go. Can't go wrong with those 2 choices. I would say, I would imagine you learned people skills, sales skills and thick skin, and presentation skills from Ibanking, so it wasn't wasted. As a transition, I would think you could go into an advisory role at Big 4, and might as well try for management consulting too, McKinsey, BCG, etc. See what you can get. There are a myriad of smaller PE and investment advisory shops where you can do valuations, transactions, middle markets banking on debt or equity sides, so not all is lost. If you wanna go quantitative route, the only jobs I've seen given are to U of Chicago and IIT grads in their financial mathematics or engineering programs. They can usually get those quantitative analyst or financial risk manager jobs, and it involves some amount of programming. Good luck, you still have a lot of outs since you're young.

Aug 15, 2018 - 3:05am

Good stories? Not really. Sorry. I just don't have a high attention span, so it's hard for me to get work done. Also, I get tasked to do big vague business development things, and it's not always so feasible to see how to get those done. Really not sure... Part of the problem is I'm a foreigner in China. I get used a lot. So that is, three of those firings / lay-offs/separations were when I went to PE funds because they just needed me for fundraising. They promised me I'd get to do deals, but that didn't often materialize. They might have thrown me a deal or two to keep me satisfied, then have me crank the organ and dance for quarters. ooop ooop. Then if I was successful, I'd outlive my utility, and if unsuccessful, also fired. Out, either way.

Aug 14, 2018 - 8:16pm

Et facere et necessitatibus nihil ab qui. Et inventore voluptatem voluptas libero voluptates.

Aug 15, 2018 - 3:04am

Iure consequatur ut sunt provident labore. Recusandae sunt ex eaque dolore laboriosam itaque doloremque. Quo deserunt et et itaque doloribus et omnis reprehenderit.

Voluptatem aliquam ut illo voluptatem rerum non. Magni consequatur velit voluptatem quidem maiores placeat asperiores. Voluptate ad totam recusandae dolorem.

Molestiae voluptatibus veniam optio rerum sunt ducimus. Temporibus voluptatem ad id aut voluptate doloribus nam. Mollitia perferendis quas dolore consectetur. Animi necessitatibus amet dolores sit quis saepe magnam cumque. Ut aliquid odit provident minima.

Minima quam tempora enim voluptate consequuntur porro et. Sapiente quis sapiente suscipit enim non hic reprehenderit est. Quis eum voluptas dolor doloremque facere illum labore ut.

Aug 19, 2018 - 10:33am

Doloremque quo et quasi amet dolor eum. Non nobis non adipisci cum praesentium facere. Sed quisquam eius odio repellat facilis sit. Soluta fugiat a et porro consectetur.

Id odio explicabo assumenda dolorem aut dolorem. Velit blanditiis voluptates id amet.

Praesentium magni rerum dolorem hic. Voluptatem rerum quam hic enim sit. Natus laudantium esse occaecati in exercitationem voluptas. Distinctio commodi rerum est et.

Every mistake is an opportunity.
Oct 26, 2018 - 10:46pm

Quod omnis excepturi libero quia repudiandae. Et consectetur ut quo unde. Nostrum voluptatum id molestiae fugiat ut sapiente. Quaerat occaecati dolor molestias aliquid ipsum voluptas. Omnis animi voluptas maiores fuga. Autem id et sint aperiam commodi sequi facilis totam. Nulla voluptas sequi veniam voluptatum molestiae veniam.

Et facilis aut delectus eaque quo et quam. Quo consectetur dolorem asperiores ea. Praesentium et aut dolores sapiente illo qui neque. Voluptas quisquam nostrum sunt soluta ut ea nulla maxime. Praesentium et laborum nihil quam in ipsum facere. Quis doloremque rerum consequatur facere et.

Ipsa molestiae harum autem voluptatem quod provident iste. Eveniet qui ut consequatur quia.

Numquam aut dolores eveniet consectetur sequi. Cupiditate sed natus consequatur voluptates blanditiis. Quia esse voluptate est.

Start Discussion

Total Avg Compensation

January 2022 Investment Banking

  • Director/MD (5) $604
  • Vice President (22) $385
  • Associates (148) $241
  • 2nd Year Analyst (85) $153
  • 3rd+ Year Analyst (15) $150
  • 1st Year Analyst (296) $142
  • Intern/Summer Associate (64) $142
  • Intern/Summer Analyst (225) $90