What’s your story about getting fired?

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Curious to hear about any experiences on being fired. Did you know it was coming? Did you do something terrible unknowingly (or knowingly) that cost you your job? were you put on a PIP? What did you do after? Did you tell your friends and family the truth? what did you say in interviews or to the next employer? im not talking about being “laid off” for covid-19 or any other company restructuring, etc.. I mean you got fired for something you did no I’m not fired but wfh has brought out my worst lazy self and I couldn’t help but let my mind wander on this to worst case scenario

Comments (28)

 
  • Analyst 2 in RE - Comm
May 14, 2020 - 12:02pm

they’re hiring for your position? either you’re getting a promo or bad news coming soon....please ask your boss and lmk what happens. I hadn’t talked to my boss in a bit and then he randomly called and asked what I’ve been busy with. I word vomited and it’s not a good look for me. can’t stop over analyzing that convo

 
  • Analyst 1 in RE - Comm
May 14, 2020 - 12:35pm

My comment sounded worse than it really is, we have several analysts on my team and office and I think we're just expanding, not replacing anyone (even though if someone were to be replaced - it would 1000% be me). Before COVID took place my boss was already talking about how we were going to be hiring on someone else, but I did find it odd that they're still going through with that considering the situation.

And that's rough, and it does sound like your boss might be on to you. I'd probably start trying to be productive as possible asap. Do you not have much to do or are you just being straight up lazy? In my case I'm still getting what I need to done, but definitely taking my time, as the workload currently allows.

 
  • Analyst 1 in IB - Gen
May 13, 2020 - 7:36pm

This was at a bank in NYC with an office that is about to be built in Chicago and announced in the next few months. Came from a HYPSC school. Was told during mid-year review that I wasn't performing the best compared to my analyst class (worse than the average analyst). Then, was told to leave at the end of my first year by a senior member while I was traveling coming back from a long drafting session of the CIM with the client because apparently, I was making "the same inexcusable and small mistakes over and over again." When I asked everyone I had ever worked with for feedback throughout the year, they never said I was doing terribly (obviously some ways I could improve but overall, good). When I told them I was fired, they were all very shocked. They all loved my proactivity and initiative to take on new tasks as well as my quick turnaround times with very little comments on their end. The only feedback they mentioned earlier on was that I have to just figure out how to do things on my own. When I would press further, they would insist that "you just have to somehow or another whether you pay other people to do it for you or anything because that was the way they learned how to be top-bucket analysts". Obviously, after one mention of this, I stopped asking them for any help and proceeded to find some other way to get help whether it was asking other analysts or other junior / senior members depending on the relationship I had with them.

I struggled a lot with figuring out how to do things I've never done before on my own though. Everyone I ever worked with was just too busy to help me out so I only was able to do so much when I would be asked to do things like work with management to build out a revenue and headcount build as well as create 50 page decks on the sales and tech traits of the businesses. Management of all of the deals I was on loved me and I would many times lead calls on my own and just update the team if there was anything important. Was a thankless firm though and I count on my fingers the number of times, anyone ever said please or thank you in an email or put exclamation marks (that they meant). This is in start contrast to my current firm where MDs are sending thank yous and pleases every email.

Ironically, I ended up closing 2 billion dollar deals by the time I left (one of which closed right after I left) and the CEO knew me pretty well (we would grab drinks and shoot the shit all the time). Of course, the CEO didn't care at all that I was leaving. Didn't matter to him because the firm fires people at all levels every 3 months depending on how many deals get brought in every month.

Overall though, I really value the experience at that firm and did not burn bridges with them. I am now working at a GS / MS / Evercore / CVP like firm where I find things are much better for me and I am getting a lot more guidance and training. I got this job a few weeks after leaving the firm and joined the new bank three months later (yes, I had a 3-month garden leave if you will) because the team was too busy to submit my offer to HR to file the paperwork and get me onboarded. I realize that I wasn't exactly the right fit for the firm and my talents belonged elsewhere. I am grateful that though they considered me to be a terrible analyst, I was put on some of the highest profile and famous deals the firm has done, which provided me easy ammo to get offers from a variety of other IBs. I don't understand how that works but maybe they were helping me out because they knew they were going to fire me. It was great because the firm I am at now is a major step up from the previous bank and exit opps are great too.

The scary part is that I am now WFH working only about 5-10 hours for the past few weeks and don't know whether this new bank is letting go of me too or if it's just COVID. Many days, I don't even open up my work laptop at all. Haven't been put on a single deal yet but staffer said he is trying to add me on deals but I am just getting unlucky (have been on 6+ pitches since I joined and we haven't won any of them). It's a solid group overall though but deal flow has slowed since I joined. Thinking of lateraling again in several months potentially to PE or CD.

Will update my computer soon and leave Incognito so I will disappear forever. How did I achieve Neanderthal by trolling? Some people are after me so need to close account for safety.
 
  • Analyst 1 in IB - Gen
May 14, 2020 - 2:07pm

I'd prefer if our comments are public so others can learn. I've really nice to know that other analysts have also experienced similar environments and struggles as I have. This will hopefully help other analysts learn.

To answer your question, like most people, I was given some time to look for a new job during which I networked with people and searched for open positions. Stumbled upon the current position online.

Will update my computer soon and leave Incognito so I will disappear forever. How did I achieve Neanderthal by trolling? Some people are after me so need to close account for safety.
 
  • Analyst 1 in IB-M&A
May 14, 2020 - 12:44am

This sounds a lot like my friend's experience at a niche boutique - think FTP/GCA/USA. He was literally one of the smartest guys I knew in college. Not sure if he was pushed out or left on his own accord, but I remember him saying how the seniors never acknowledged his work and how he was afraid to ask questions for fear of being reprimanded.

Array
 
  • Analyst 1 in IB - Gen
May 14, 2020 - 3:04am

Are GCA and USA even niche boutiques though? I thought they did mostly tech banking but not anything too niche, right?

Banks like Financo are another example since they only do consumer-focused deals.

Will update my computer soon and leave Incognito so I will disappear forever. How did I achieve Neanderthal by trolling? Some people are after me so need to close account for safety.
 
Most Helpful
  • Works at JP Morgan Securities
May 14, 2020 - 11:14am

Work in a small PE firm. Everyone there was a total asshole. All full of shit too. Straight liars that claimed they worked on multi billion dollar transactions, but in reality they never even worked for that firm. Blatant liars. I mean terrible. The guy I worked for was such a piece of shit. Would send me 1 am emails berating me and insulting my intelligence. Made me genuinely upset since I always when in the next day with a smile on my face. I think my performance was fine, but I commuted around 5 hours total each day (had to take care of family), which took me apart mentally and strained me. I still performed as best as I could. One day, I get called into an office meeting. They said they were going to discuss a deal. I get blindsided. They said my position is terminated. Dont know if its a firing or layoff, the messed up the thing is, the guy I reported to was such a piece of shit that he took off for lunch then. He couldn't even tell me to my face. His boss told me. By the time I get back to my desk, everything is packed up for me and they took my laptop away. They went through all my personal stuff and threw it into a box. No respect of professionalism. I said bye to everyone. A lot of people were shocked, lots of hugging. After that, I realized culture of a company is more important than anything. Money doesn't mean shit if your miserable everyday.

Array

 
May 14, 2020 - 2:22pm

Hah, I got fired twice early in my career for what I thought was doing the right thing.

The brokerage firm I worked for wanted to put me on a draw for the upcoming year. I let them know in late November that I would not be remaining with the firm in the new year and thus would not be interested. I was fired "for cause" a week later, with them citing my poor work performance and questioning my future in real estate.

Not learning my lesson, during my next job in asset management I applied and got into various MRED programs. Caring about my organization, I also let them know a month ahead of time exactly when I would be departing so that they could start the hiring process and not be left in a bad spot. I was canned that week.

In short, caring about organizations and companies doesn't get you anywhere. They will cut you in a moment's notice, so don't be afraid to treat them with an equal amount of respect.

Commercial Real Estate Developer
 
May 14, 2020 - 2:26pm

Something similar happened to me in my first role. Was in a contracted role, and let my team know I wanted to pursue other opportunities within the bank. The team wasn't too happy and didn't really help me out as the length of my contract was coming to an end. Learned a valuable lesson of smile, say yes to everything, and keep your opinion to yourself.

Array
 
  • Analyst 2 in CB
Sep 14, 2020 - 11:46pm

I am certain my boss knows I am getting ready to jump ship. They haven't fired me yet but are talking about hiring a new analyst. They are looking to grow, but mostly its a hedge for when I leave. I wouldn't tell my boss outright, but I know he knows and as long as I don't make it a big deal about it he will put up with me. I talk about my future plans in my current position with my boss some of these plans are not realizeble at my company. My coworker knows 100% I am going to leave and does not care. Still would not flat out tell them I am going to leave.

 
May 14, 2020 - 2:49pm

While I was just about ready to get my offer letter from a much better firm, I got 'fired.'

CEO of the company I was at's son worked at the one I was moving to, told on me to his family. Got back from lunch and was told to leave, received and executed my offer that afternoon.

The son that told on me couldn't take the workload and was gone before I started (gave a one day notice).

Have also helped pitch against my old firm on a ton of deals, we have won every time.

 
Sep 16, 2020 - 4:17am

I got fired from my first job, for which I moved into another city, directly after high school. It was a research internship, I spent about 2500 bucks just to get furniture and stuff -  and then I was fired after 10 days. 10 fucking days... That shit follows you to hell and back, man. Granted, was my own fault, but still.

"I buy the expensive stuff, ´cause when I drink it, I wanna taste it"

 
Sep 16, 2020 - 12:23pm
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