Is now really a good time to be switching jobs? Especially going into a big market like NYC? Fears of a recession making me reconsider whether I should grow where I am or move down to NYC but run the risk of being the first laid off in the case that the economy goes bust

like
Posting as :
works at
You are currently posting as works at

NYC is a risky proposition IMO right now unless the opportunity is guaranteed

like

I think it depends- do you want to be in NYC long term or are you hoping to just work there for a few years until you promote? If so is it a prestigious enough company that it’s worth it?

I certainly wouldn’t move there before securing a new job

like

I think it all depends on what job. If you’re moving to a MORE stable sector (Engineering, IBD, Medicine…) I would say it’s probably fine, but you wouldn’t want to start fresh in something like Real Estate or Retail.. it just depends. Look at the stats for 2008 to judge whether the job you would be switching too is safe and sound.

like

And in terms of moving to NYC - I wouldn’t recommend you move to any major city in a recession without at LEAST 6mos of your living expenses saved up. I don’t want to sound like one of those people but it’s heart wrenching seeing people ruin their finances just to live in NY.

like

My observation is that in hard times, companies will first lay off more expensive talent (less so at the Analyst level, unless the company is desperate). Companies “too big to fail” / with secure long-term prospects for their products/services will be fine. Always a good idea to figure out whether a role you’re interested in is within a growth pillar of that company (i.e., a group identified in an IR presentation / earnings call as an area they are investing in).

This ☝🏼!!! When My company (large investment bank) did a round of layoffs, a while back, every person on the list was highly paid with at least 20 years. They got rid of the salaries that make the biggest dent on the budget, to replace them with cheaper talent later.

Related Posts

like

Constantly worried I’m going to get fired because I don’t know where I stand at my mid sized law firm (second year associate).

like

Hi Fishes, I've 5.7 YOE in digital marketing and i have an offer from PS for Senior Media Analyst Role in Digital Marketing Domain. After seeing all the layoff post i'm getting scared. It would be helpful if you could please let me know if anyone if fired from Digital Marketing Domain.

DOJ is Oct 31st, i dont have more time. Please comment if you know anyone from Digital Marketing.

Hi Fishes,

Need advice,

I recently got laid off by PS and my notice period just got over,

I have offers from:

PineLabs,

HealthKart,

Recro,

Rojo Consultancy

All are offering almost same ctc around 19-22 LPA,

I have 3 years of experience as a backend developer,

working on Spring Boot, REST API, Java 8.

Any help is really appreciated,

Thanks in Advance 😅



like

Heard BCG laid off quite a few people this summer. Is this true?

like

How is Lowe's India in terms of Tech Stack, Job Security and WLB.
My joining is next month, should I consider joining it as an SE, considering the current scenario of layoffs and recession in IT market.

like

Curious is anybody seeing layoffs in consulting? How busy are your cyber practices?

like

Pretty sure I’m about to be fired. I have an offer in hand anyway and have been on a few interviews that have gone well, and a few more lined up. Am I gonna be ok?

like

Hey guys! Yesterday the company i worked for laid off the people in our state for economic reasons with no notice. I’m in desperate need of referral in entry level SWE/SD(or similar) positions at the moment. Any help would be greatly appreciated. Thank you!

like

I was fired after I reported a partner for a serious (criminal) ethics violation. The firm covered it up. Are all companies like this in the end? I’ve lost my trust and don’t know how to start over.

like

Layoffs at Integer Denver today? Somebody spill....

like

All these layoffs reminding me that loyalty is dead

like

Tax Senior here. I’m well liked around the office, I put in the hours and work hard, I haven’t had any dumpster fire projects, but I am a mediocre performer compared to my peers (not as strong project management, communication, not as confident). I just got told they’re firing me. Should I expect severance? Have other people been fired for similar? What did you do with your career?

like

Any layoffs in Luxoft , will there be any difficulty for bench employees

like

Boyfriend has seemed to be dropping a ton on me lately, even after I got bad news that my company is t doing so hot this week and layoffs are approaching. First it was that we may be moving to another state for his job, then it was that his brother may need to move in with us for a few months after he graduates

It’s just a bit overwhelming at this time and I’m not sure how to communicate through all of this being thrown at me. 3 yrs together and we were friends for many years before that.

like

Given the outbreak, are places actually going to be hiring right now? Recently laid off from 9-5 and my freelance is starting to fizzle.

like

Does anyone think it’s weird that my firm is bending over backwards to try to keep a first year staff from leaving the firm after she was rated a 2 this year. But now she’s trying to leave and they keep trying to push her to stay saying she can be a partner in 8-9 years and laying it all out in detail. The issue is they laid off other staff (all but her) so maybe that’s it? Find it very odd.

like

Morning! Being laid off sux, I been down this road 5x in my career it never bets easier.

Dust off contacts and make your rounds
* if you’re in a good position to take time off do some, seems we all need a mental break anyway

likeuplifting

Is there a risk of accepting a role with Upstart currently? I seen a 7% layoff recently for hourly employees but I would be salaried. I am well aware it’s a risk in tech overall right now but curious on thoughts thanks!

likeuplifting

Hi,
As of now I got into PIP so does it indirectly means that i will be fired.?

More Posts

Folks - anyone purchase or lease a car under their LLC? If so, advantages and disadvantages of this move?

like

Pros and cons of taking a class year cut? Partner sees my potential and that there’s an actual evolution but I’m not there yet in terms of experience compared to my peers so he told me to at least consider a class year cut. Is that a nice way to tell me we are not happy with your work product might kick you out of you don’t improve ? Or am I being paranoid here?

like

I am looking to start a Salesforce CPQ practice at my boutique consultancy (~200 Headcount). Any tips, advice, cautions? Anyone interested in coming over to build/lead the practice with me? 🤣 DM me

like
like

What is the annual appraisal range for financial modeling associate at Ahmedabad, India?

like

Anyone know how much Fragomen pays U.S. attorney’s working out of London, Frankfurt, and Amsterdam?

like

Hi everyone!! Got an offer from Healthplix, Bangalore based start up. Any thoughts on this?

like

How's Eldorado unit in Mphasis Pune. Will be joining soon as Senior Software Engineer. Any pointers will help! Mphasis TIA.

like

Square Veeva @teletracking

Trying to decide between 3 offers remote/Columbus

Square is 84k salary 5k bonus and 80k stocks vesting over 4 years
Veeva is 100k salary 20k bonus and 25k Stocks each year forever
Teletracking is 125k cash 5k bonus

I know about Square the most and if they paid closer to Veeva and Teletracking I’d probably go there but it seems like they underpay.
The Veeva culture seems really good but it’s a sustaining engineer position for year 1 so debugging

like

Can anyone share total comp for associate product counsel for Google in a LCOL location. I would be remote. 5 YOE.

like

I’ve been told my company is changing my title from Associate Director of BD to Sales Executive. I’m concerned it reads like a title demotion. Is it just semantics? How will this look for my career development? Curious about the standard perception of Sales Executive from a seniority perspective. Where does this land on the sales roles hierarchy? For context, it’s a professional services firm, I’ve been there 3+years, and they gave a Sales Executive title to someone who just started 5mo ago.

like

What would you do if your boss started cherry picking your successful projects and trying to take them over? Keep in mind, this new boss has had 8 months to get acclimated and has not brought anything new to the table. Strategizing how to deal with this.

likehelpful

Anyone here ever been to RCA? Is it worth it ?

like

Has anyone found roles in Big 4 or industry that allowed more work life balance when their kids were young without damaging future career trajectory? I'm a partner with young kids and feel like I'm missing out on too much of their lives. Wishful, but my dream job would have a lighter workload in terms of time and pressure for the next ~5 years, but not set me back too much (or at all) when the kids are older and tired of me in a few years and I'm ready to be back at work full force.

like

I recently interviewed for L7 EM at Google and had 4 great interviews and one not so great system design. I submitted external referrals all of which gave great feedback. The recruiter said the next step is team match/interviews and then the HC. Anyone in a similar situation? What was the result? Google

Hello everyone,

I'm looking for remote opportunity as a reactJs developer.
YEO: 3

Any help would be appreciated.

Which certifications are considered high value right now?

like

Additional Posts in Finance

What's your Sunday routine to get ready for work on Monday?

like

I realized a slow pace at work is really bad for me. A couple years ago I was experiencing burn out from my fast paced job supporting transactions, and believed by moving to a slower job in a lower cost area, I would be sailing off to the sunset. Wrong, I spend weeks following up with other teams, often times they forgot what we discussed, so I spent 50% if the time reminding them of the topics and next steps. I spend most of my time writing memos no one will read.

likehelpful

Can someone explain how to maximize the 401k employer contribution -- by when during the year should I have invested the full $18k to get the 1.5% match?

like

What is an appropriate bonus to give your admin (she books all my travel and processes expenses/receipts)? Travel once or twice a month, don’t have her schedule meetings for me at this point.

like

Trap, trap money Jamie
JP got me in my feelings
Gotta close deals wit it

like

Good day to be buying bonds... any of my fellow yield grubbers out in effect today?

like

Did Blackstone halt recruitment and hiring? I know most firms have for now.

like

How long do Citi background checks take? Do they send you an application once you sign the offer?

like

Has anyone else turned down a tech job for banking? It was a hard decision but ultimately, I decided that the experience and training I'll get here is second to none. Hope I don't regret this decision

like

Blackrock. Got a informal offer but no follow-up with a contract. Noted they are working on it, but does it really take this long or red flags? How much longer would you wait?

like

Tips on dealing with being on a team who thinks it’s normal to work 7 days a week in the office until 9/10 pm because “this is the business”?

Home for the weekend, and I'm find it more and more difficult to relate to my old high school friends. Anyone else feel this way?

like

Is it just me or has there been a noticeable brain drain in banking in the past few years? Analysts are not what they used to be.

like

Is it just me, or is Soros getting uglier every year? It's like the dark side is twisting him up.

like

My background check for Blackrock came back last week. It’s now with the background check committee. How long until I get the final OK? No, I am not a criminal. :-)

like

Has anyone done the GARP Financial Risk and Regulation course? Was it educational? Did you do the FRM after?

What movie title would you use to describe your current job?

like

Morgan Stanley friends - how are your bonuses looking today?

like

Idk what I want to do with my life and at this point im too scared to ask

like

Any advice for someone about to start a new role remotely and how to deal with the long hours? My new role is going to be more demanding and was wondering how some of you deal with the continual late nights.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal