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Largely depends on how you recover
A circle’s angle indeed depends on how round the circle is
There are a lot of factors to it. Some leaders have hands on skills and expertise that means they can qualify for and pass an interview for the next level down or two of move into a more lateral role without the same title. Other leaders were propped up in a company and did very little. So they may have to fall down further. The industry you are in matters. The local as well. They both determine how in demand certain roles or work is. Some folk change careers entirely. Tbh its best to be agile and willing to reinvent yourself. Sometimes setbacks may appear to be starting over but its not always a bad thing. People just need to understand that you can have an amazing title one day and then downgrade the next and that it's okay.
It is. But when you have more than one layoff where you have to keep taking analyst roles when you were already more senior than that really shows little progression, especially if you’re going up for an MBA
It doesn’t necessarily set you back, but often significantly changes the direction.
A few months if you have a decent emergency fund
Meant more career trajectory wise instead of financially
My last one set me back about 5 years
Yes
Been laid off twice so far. First time it took me 4 months for a new role. I collected unemployment and got by without hitting savings. Second time I had a new role by the time my garden leave expired. Layoffs turned me into a job jumper, which rubs some people the wrong way because I have a lot of short tenures. Any time I get a whiff of layoffs, I’m out. I’d rather control my destiny than be controlled.
In my opinion, great way to leave with some pay off…I took voluntary redundancy and then I was able to choose what I want to do next with options…
It was okay - in the long run, it worked out. You shrug it off & keep going.
About 7 😔
Being laid off 3x is very different from being fired 3x. One was out of your control completely and no fault of your own, the other points to a pattern where you weren’t able to perform.
It happens more often than you think, most people just may not talk about it.
Be willing to learn new skills quickly and show the proof of it.
It also depends what kinds of roles you’re targeting and what your end goal is. If your goal is simply surviving on the income, then staying at a certain level is fine. If your goal is to move up as much as possible, you gotta learn where to use your network to your advantage.
Depends on many factors, personal, economy, Industry, age/yoe, etc.
I’ve been laid off 3 times and each time I found a better much higher paying job. This last time, I joined as a direct admit partner-level. Sometimes you gotta tuck and roll as you’re falling so that you can fail up the ladder!
Yup it’s quite the journey had my share of lay off or termination usually the bounce back and pivot is best
It all depends on your career goals. For me, I joined consulting after grad school, and after a few months, I realized it wouldn’t be a long-term career, so I began planning, got a certification, and luckily, I was laid off last year. That one event allowed me to think freely, travel and I returned with clarity about the type of work and industry that interests me. I was lucky to accept an offer within FS after less than 3 months of searching. Now I’m in the industry with better pay and more opportunities. I understand it can get tougher as you advance in your career, but having 2+years of experience probably gave me an advantage.
Professionally in terms of career development they have never set me back. Financially I have had some rough ones especially around Covid when I was out of work for a year.
On the business side of things so might vary but that makes sense