Interviewing after being let go
Hi everyone - seeking advice on current situation. I am going to be a bit vague so I don't doxx myself.
I was recently let go for performance reasons and worked in an industry outside of finance. Moving forward, I’ve decided to pursue HF roles where I have particular fit from the work I did in my previous role.
I need advice on how to address my departure from the previous role. Should I say I was laid off or that I left? I have unique circumstances that allow me to spin a story where I plausibly left and it wouldn't raise eyebrows. On the other hand, layoffs are common nowadays and usually not a cause for concern in most industries. My main worry is the stigma of a layoff makes interviewing for HFs even more challenging than it already is. My sense is finance folks and HHs can be particularly hardo and less forgiving to someone outside the industry being laid off.
I can mostly get references as needed but would be in trouble if I needed a manager reference specifically from my previous role. I can get managers from other jobs I had though.
Any advice is appreciated.
Got laid off 6+ months ago but recently secured another job so i can chime in for this one.
Yes, you are right that finance is unforgiving with layoff stories. I recommend you to NOT go with the layoff story as much as possible since Headhunters and finance interviewers might drop you (very common) as soon as they know you were laid off (especially if it were a performance reason). I personally had to endure headhunters dropping me as soon as I told them about my layoff story; it made my search process 100x harder.
If you have a plausible story of quitting, I would go with that. Although i dont know what the story is to make it so plausible (usually people quit after knowing they have another job lined up)
It sucks that high finance is one of the fields that I think is an absolute hardo & cringe space where layoff stigma is so much worse than any other fields that I have seen. But cant
blame the game when you are playing it.
Thank you this is helpful. Good to know my intuition about it being less forgiving is correct.
I think then the main concern will be around references, and I guess I will just have to take that risk if it comes to it.
The story about me quitting is: xxxx. Seem plausible?
not a bad story. I would try to get at least one person who can vouch for you. the firm you are interviewing with might ask you to provide a reference to cross check your story so at least have one person who is super willing to help you.
Thank you very much. You've helped give me a plan to move forward.
Congrats on your new job and glad things worked out for you!
Agree w the comment above. You mentioned you were outside of finance looking to get into it - do you have a strong base of knowledge for financial analysis? Can you take some courses in the space during your free time now and say you took the time off to reorient your skill set toward what you really want to do? That can be a combination of things - e.g. there's Macabus or WSO modeling courses, but there's also Continuing Education (CE) courses offered by schools like NYU. Not sure if it makes sense in your situation but could be a way to give yourself cover.
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