Hey WSO,
I am an acquisitions associate at a small family office in NYC and my boss told me today that they need to let me go due to company's performance and cultural fit etc. I'm not too bothered by it as I somewhat expected this would happen as I didn't see myself working here long term and hated the culture. That being said, I believe my boss will let me stay on payroll until end of this month and maybe have an option to stay at the company while looking for a job unpaid.
I have three questions for you guys:
1. If you guys were in my shoe, would you guys work or pretend to work at a company that fired you for free? Also, how much more difficult does it get in getting job interviews when you are jobless?
2. I graduated in 2013 and this year would be my 6th year working. Obviously, I wasn't promoted to vp/director level so should I tell potential employers that I need that mid-level title or just take associate role and spend a few more years.
3. How's the job market these days? I have a pretty good amount of money saved up so I can be patient but wondering how the market is.
I would greatly appreciate your insight and support!
Depends on the relationship you have with your boss but avoiding a gap in your resume is always wise. As long as you're "working" and not actually working then it's a fine situation. If you catch my drift.
You'll likely be gunning for associate level roles unless you have a track record of sourcing/executing deals with strong returns.
From what I've seen the job market for acquisitions guys is pretty tight and nearly nonexistent for VP+ level. Have you considered moving cities? NYC is brutally competitive from what I've heard.
What was the issue with the culture there? Why were you let go exactly? I think these are things you need to come to grips with. For your own introspection and to craft a story when you start interviewing.
I think the above advice is spot on. As a sidebar, kind of surprised that the guy is willing to let you stay on unpaid, to be honest with you. This is a huge legal/HR nightmare. What he's basically exposing himself to is the logic that "we weren't happy enough with your work product/the cultural fit to pay you, but you can work for us for free". When he says you can 'stay on', does that mean you don't have to show up and just put that you're still there on the resume and he'll verify the date? If so, that's a good situation, if you still have to come in and actually do shit, that's absurd.
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