Applying while unemployed versus applying from unrelated role - lesser of two evils?

Based on the most helpful WSO content, navigating the job application process, especially when considering a pivot into a new field like DCM (Debt Capital Markets), requires a strategic approach to how you present your current situation. Both options you've outlined have their pros and cons, but let's break them down to determine the lesser of two evils:

1. Applying with the coding job as current: This approach allows you to apply as an employed candidate, which can sometimes be perceived more favorably by hiring managers. The key here is to craft your narrative in a way that highlights how the skills and experiences from your data analyst/data science role are transferable to a DCM position. Emphasize your analytical skills, proficiency in coding (which can be a unique asset in financial modeling), and your completion of all levels of the CFA exams, which demonstrates a strong foundation in finance. The challenge is to convincingly explain your interest in pivoting to DCM and how your background has prepared you for this transition.

2. Applying with the job set to end April 2023: This option involves being upfront about your employment status, which can open the door to discussing your career reflection and renewed focus on pursuing a path in DCM. This narrative can be compelling if framed correctly, showing self-awareness, resilience, and a clear, motivated interest in DCM. The potential downside is the stigma sometimes associated with job-hunting while unemployed. However, this stigma is lessening, and many employers understand that layoffs, especially in the current economic climate, are often beyond an individual's control.

Considering the intricacies of your situation, the second option might be the lesser of two evils for several reasons:

• Honesty and Transparency: Being upfront about your employment status and using it as a pivot point to discuss your career aspirations can create a genuine connection with the interviewer. It shows maturity and clarity in your career goals.
• Opportunity to Highlight Resilience: Discussing how being let go made you re-evaluate your career priorities can demonstrate resilience and adaptability, qualities highly valued in any field, including DCM.
• Focus on Transferable Skills and CFA Certification: Regardless of your employment status, your self-taught coding skills, completion of the CFA exams, and accounting background are strong selling points. These can be framed as assets that give you a unique perspective and skill set for a role in DCM.

In conclusion, while both options have their challenges, opting to apply with your job set to end in April 2023 and focusing on how this transition period has sharpened your career focus towards DCM could potentially be more advantageous. It allows for a narrative that showcases growth, resilience, and a clear, motivated interest in the field you're aspiring to enter.

Sources: Looking for Perspectives on Unemployment, Deciding on quantitive majors/career path?, Top 10 Undergrad, Top 10 MBA... Unemployed 3 months, 2 not great offers to decide between, Nine Months of Soul-Crushing Unemployment - Advice Needed, Laid off, Depressed and Giving up...