Laid off, still applying for jobs, getting demoralized. Advice?

Darth-Trader's picture
Rank: Baboon | 113

Back on the burner account.

Abridged version is that I was let go from a fund back in January due to poor performance related to one of our strategies.

Since then I have reached out to alumni and friends on the street asking for potential leads, and giving them background on my experience.

Beyond that I have likely applied now to 600 or so positions. I've had maybe 10-15 initial interviews, of which maybe 5 have been for a strong fitting job.

I've noticed it's better to be intentional and really focus on the positions you'd be a great fit for, but I'm not going to lie that 585 rejections doesn't feel like nothing.

Does anyone have any advice they might be able to share?

Background is in equities s&t (internship at BB) and buyside prop trading (event driven equities).

I am looking at markets/relationship related roles such as equity sales, sales trading, marketing/ir for a fund, and private banking, but would be open towards more research related positions as well.

Comments (7)

May 10, 2018

Darth-Trader, hey, look at the bright side, at least you didn't get a ton of monkey shit thrown at you...here is my best guess on threads that might be helpful:

  • 1st year analyst in a group that might get cut (Might be getting laid off)-- need advice aren't bringing in enough revenue or anything like that. I've heard that lay-offs happen all the ... appreciate any advice that people can provide. lay-offs Investment Banking first year analyst ... shouldn't cut our devision and all of us should keep our jobs. I really like my team and until recently, ...
  • Laid off Analyst still looking for Work- Any advice? Also, has anyone else in a similar situation had any success recently? sorry for the long post laid off ... UBS, CS). When the layoffs began, I proactively found a position at a small HF as an analyst. ... getting an MBA. I know the market is rough so I have been looking at almost everything front office, not ...
  • If you get laid off right before bonus time, do you still get your bonus? I was wondering, if firms do layoffs within a month before bonus time, do folks still get paid ... February, assuming there are job cuts, will these folks still get their bonuses (since they were ... anything, given that the bonus is discretionary. In some cases, I konw of people who got laid off a couple ...
  • Applying for those laid off in 2008? been out of school for two years. So I'm in a similar situation as analysts who were laid off ... been in a position like mine). How do you market yourself, and what kinds of jobs do you apply for ... ? Thanks, Luke layoffs jobs applying ...
  • IB Layoff Rounds- Are PhDs less likely to be cut? My friend hasnt been laid off yet being laid off, he's still there. are phds immune (relatively) from layoffs or something? ... Hey guys, just wondering: are people with phd degrees almost never laid off in a mass IB lay off ... round? All my college friends who had worked as IB analysts at Barclays have been laid off by now. All of ...
  • For those laid off Tis the season to be laid off, tis the season to be jolly. Given the recent (and upcoming) ... up his contacts to get me lined up for interviews. In 3 weeks time, I had multiple offers in hand and ... I wouldn't even consider exit IB. To top if off, I got 2 months garden leave and still received my $70k ...
  • Laid off while interviewing I would technically still be employed but I could go look for jobs. So I have been getting some traction ... I was laid off will raise too many red flags even though it was merely a lay off and I can provide ... Looking for some judgement free advice here: I was given notice by my firm that I was being laid ...
  • More suggestions...

Any pros willing to rescue this discussion? @BGP2587 @esiom @CaptainJapan

Fingers crossed that one of those helps you.

May 13, 2018

How long were you employed FT?

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

May 13, 2018

About one year

May 13, 2018

How poor was performance? What led to the underperformance, was it more being outright wrong? Mis-hedged? Over-sized?

"The way to make money is to buy when blood is running in the streets."

-John D. Rockefeller

May 13, 2018

Being wrong, wasn't a very profitable year for the firm as a whole.

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May 13, 2018

Given you were employees FT for less than a year, maybe try and find a trade support/assistant role?

Could also pivot careers, you are young enough.

How bad was your sharpe

"The way to make money is to buy when blood is running in the streets."

-John D. Rockefeller

May 14, 2018
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