Let go as a 1st year IB analyst; 8 weeks to find a new job
I just completed my first year at a small investment bank and was recently told that I have about two months to find a new job. Due to special circumstances, the firm was willing to help me out and will continue to say that I am employed at the firm for the next two months.
What do you all recommend that I do in order to find a job within this period? Should I just aim to apply to any finance position so that I do not become officially unemployed? I am very worried that I will not be able to find a job in the next two months given I've heard it takes a long time for firms to officially extend offers to and hire experienced workers. I am also very worried that it will be much harder to find a new job if I am officially unemployed.
I graduated from a target school with a high GPA a year ago. I know where things went wrong and will make sure that doesn't happen again at my new job. I am actively applying to a variety of financial job postings through company's careers sites (IB, Corporate Finance, etc.) and networking with employees (and alumni where I can) to secure an interview.
Really appreciate any advice you all can give me here. Thank you.
Would probably say you should look for lateral hiring postings. Haven't gone through the experience myself, but have heard that the process can be significantly accelerated (less than 2 weeks) depending on the banks hiring needs at the moment.
Wouldn't really suggest applying to just any role/company, especially if its not one that you want. You seem to have a solid background and you're doing the right thing applying and networking so I wouldn't be too worried.
Best of luck mate.
start with Indeed (job listing aggregator), Glassdoor, eFinancialCareers and look for lateral posting...then if that doesn't pan out...widen your net.
Also, you know that networking works better than online applications...so start creating a network with linkedin and then reach out to people at all the BB and smaller firms. Your fulltime job now is networking during the day, and online applications during the evening. get to work
I agree. Would add LinkedIn to that list as well.
Given that you already have a year under your belt, I think you can afford to be relatively more selective in roles you want to pursue. Obviously be reasonable in your approach, but focus on jobs you'd actually be excited about vs. just any finance role that's open.
If you haven't already, try reaching out to a bunch of headhunters and see what mandates they're working on. Your chances should be better there than just firing off resumes on company websites
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