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How old are you? Age unfortunately is a factor nowadays
So you were a VP since 30? It shouldn’t be hard to find a job with such experience.
I just lost out on a job that was tailor made for me. I may be a bit younger than you, but laid off as well. Idk what the reason was... sometimes you just have to accept there are people more talented than you or you missed a key point in that short interview.
I'm still interviewing but I hear you and feel your pain. Sometimes the answer is as simple as, we liked you but...
Keep plugging and good luck. No job is worth your kids' youth.
Age is definitely a factor. I was a VP in the middle market team at a major bank for 18 years. I’ve been at 4 banks in the past 3 years. The first position at Amalgamated Bank was underwriter / PM and I quit after 2 weeks bc they were making loans to ESOPs, political action committees and a fuel cell plant. I couldn’t wrap my mind around these loans. Next, I worked as a PM at Valley. This was extremely frustrating. My impression, at least of the White Plains folks was - high opinions of themselves but no substance. I was laid off as part a corporate layoff (….right), after 8 months. Then, a $4 bn asset bank as VP C&I Lender. 3 months later, I was told I didn’t meet the business development goals and was therefore being laid off (along with 2 others, 1 was there for 7 weeks and the other 5 years and his mother died the month before). I’m providing all of this detail to let you know that it is BRUTAL out there. I’m 58 yrs old and I do believe that that is a factor. Currently I’m a PM and have been with this $5bn bank for 10 months. Now, my current salary is $50k less than the prior job. I believe it was a calculated move on their part, to pay as little as possible. Did I mention I have 35 years corporate and commercial lending experience? It’s as if all of what I bring to the table has been nullified by being unemployed due to a very harsh policy of the previous employer.
Maybe you were too expensive?
It is very much a possibility. I worked as a supervisor in multiple positions within the company for 16 years, like you missed out on a lot of my kids’ lives. I was loyal, hardly ever took vacations unless it was the mandatory compliance requirement, had over 300 hours of vacation and PTO/sick time accrued - I finally had to leave bc it was toxic. I didn’t even realize how sick I was until I after I left.
I took a job as a contact center rep “in the meantime”, but I e already been there for 3 years. They are hiring, people with no FI experience or background and paying them the same as those of us with extensive experience and knowledge and the pay isn’t crazy great. Companies don’t want to pay based on experience.
Truth is, they probably can’t afford you, or simply know they can hire someone younger and with less experience for a lot less. You are probably exactly what they’re looking for, but don’t want to pay.
Conversation Starter
Maybe enjoy the time
Pro
Sorry to hear that. I'm trying to not take too big of roles because I don't want to miss out on my young kids.
I respect that