Just got laid off earlier in the week with two weeks of severance. In panic mode now as I have a bunch of undergrad debt, little savings, and parents are financially struggling. What should I do?

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

1. File for unemployment
2. Defer student loans
3. Decide what you want to do professionally
a. Identify companies
b. Identify roles
c. Tailor resume and cover
d. Network and apply in a focused but ruthless manner

You'll be alright 👍🏼

like

I got laid off for performance after 8 months out of college, was the worst time of my life but now I'm killing it and actually am grateful af to the partner who laid me off

like
Recent IconRecent

Start applying elsewhere, craft a reasonable story as to why you 'chose to leave' and stick to it. As long as it's not performance related, you should be able to find something elsewhere pretty fast.

like

Sorry to hear. What D1 said, plus minimize your expenses asap. Cancel unnecessary subscriptions, stop eating & drinking out, trim down to the minimum. You'll get through this!

like

^Poor performance typically means weak leadership. All skills in consulting can be taught.

like

@M3 you are a part of the problem at consulting firms. You jump to judgement without any showing empathy. You don't consider not all things are within our control at the analyst and associate levels. You're a big reason why myself and a lot of my peers dislike the job. The reason we stay is because of the other people, like those who have responded to this post with encouragement, understanding and positivity. As for you, I hope you never experience what @op has been through. You're a smug self righteous a-hole. Even though you are a manager, you are probably not a leader.

like

Agree K1, D5, A3! Been there before. 3 tips to add:
1. Finances - start here, follow advice above and don't worry if you have to live off your cards for awhile (if you can). Good practice for when/of you have a kid.
2. Job hunt - again, take advice above but set a goal of # of applications to send per week and push yourself to meet it. If you can, get a senior person in your desired field to give feedback on your resume - can be a referral ("anyone know a senior exec in X that I can network with?"). Also, do have a set "script" of why you left the job - keep it positive. If you move to industry, can say, "consulting lifestyle was too stressful" haha...
3. Your mental state - you can and will be depressed and ecstatic, sometimes in the same minute. I like to find a buddy who's job hunting and check in weekly e.g., coffee, walk, text. Helps with morale.

In the long run, job search skills are extremely valuable to have. Bummer to be pushed out, but remember, you are not your job. Some will say you are horrible, others that you are great - you are neither, you are just YOU and the world needs you! Life is taking you in another direction. Have faith that as one door closes, another one opens... #YouGotThis

like

Some good advice here. Let me add some conventional and unconventional advice. First, applying to jobs on the company sites has always been useless for me. You need a warm intro. Contact all your friends, former coworkers, etc and see if any of them have an in somewhere. Use your parents and family members as well, you never know who "knows a guy/gal." Meet people in person and ask for intros. Eventually you'll find a "superconnector" in your midst that can get you intros. Better to meet strategic people than do 50 online job apps.

Also, in my experience it always takes about twice as long as you expect to find the next job.

Finally, get a project to keep you sane. Start working out, train for some big event, bake cakes, whatever. I got shitcanned for the first time at 39 with 3 kids, and one of the things that kept me sane was learning plumbing, electrical, and carpentry and doing a big home improvement project. I also figured I could moonlight in the trades if worst came to worst. If you sit at your computer all day staring at LinkedIn you'll start to loose it.

like

OP, on top of the job hunting advice, try to keep your spirits up as much as you can. One firms assessment of you is not everything, and don't let that impact your confidence

like

In consulting there are so many factors outside of your control - firm not selling work, firm over hiring, asshole project management, utilization pressure forcing you to take a project that's a bad fit. Not everyone gets a fair shot in this industry so "poor performance" may very well not have anything to do with the individual

like

Thanks M3, however, I did not flag your comment - I don't censor anything, including your comment to me. Nice job 👍🏼

like

I was let go from my role at Deloitte. Honestly I could not have been happier as I hated the manager, the PPD who led the group quit and a lousy partner took over. The group did it seem to have enough work. Got one month severance and found an amazing new role in few weeks. I traveled a bit, watched GOT, and did not feel any regrets at all. Don't worry , cause these things happen for a reason and it will all work out eventually!

I actually got three offers after being let go so don't lose hope.

like

Strategy and senior analyst. I guess I didn't make up or out and yes I didn't perform well on a project. :-(

like

@Accenture2 who gets laid off with two weeks severance for performance 😳😳 that does not make sense.

like

A2- the bench is deep right now. I've almost been laid off twice in my almost 4 year career. The most recent time I found a role on the last day before I'd be let go.
Accenture's model is simply to overhire and trim when necessary.

Good luck, OP. Also create and/or update your LinkedIn. Include your relevant skills, duties, etc. Recruiters often reach out to me on there at least once a quarter.

like

Thanks guys! How do you recover if one of the reasons why you were let go is performance related in addition to chargeability?😫😫😫😢😢

like

Thank you all! You guys have been helpful! I had low chargeability, but performance was generally fine except for one shit project where I didn't work well with the manager.

like

I hear Manhattan Consulting is booming right now, flip them a rezzy

like

Sorry to hear this, OP! Can we all help with referrals at all? I'm sure this group of folks on FB would be more than happy to help out in any way we can. As K1 said, definitely take a few immediate steps towards short term financial security.

like

This is why I throw out a feeler resume every 4-6 months, and never ever turn down a recruiter. I always tell the recruiter that ill touchbase w him/her in a certain amount of time. Good luck OP, apply to 100 jobs today

like

Related Posts

Should we expect big layoffs in 2021 especially in trading and other business lines? (Banks like Citi/MS who pledged no layoffs in 2020)

like

🐠 fam - trying to add my 401k and IRA investments held at fidelity to the mint app but it’s not allowing me to. Any idea how to navigate this? Thanks!

like

Can anyone confirm if the Spotify layoffs are true?

like

I am going to London in a week. What’s the best way/website to buy travel insurance?

I’m a Junior accountant, recent MBA grad in Finance, located in NYC, just got laid off due to a merger. Anybody hiring or know any opening positions?

like

Bittrex or Binance? Or another? Is it possible to convert Litecoin to Alt coins on Binance?

On the topic of the fired employee, Google is a _______________?

like

What is the BA continuum allowance , can we get that money in our monthly salary and this BA continuum allowance have tax exemption?

like

Recent layoffs at my agency + a slow few weeks/not being scoped on new projects = my anxiety is through the roof. How do you keep from panicking when your agency falls on rough times?

like

Should I renege offer from MBB?

An MBA recent grad. I signed with MBB last year. However, I have always wanted to do tech PM. I couldn’t find PM job in Fall and just signed MBB offer I have. I recently got an FAANG offer. It’s PM function, hard to break in with consulting experience. I declined the new offer during interview stage and again after they gave me initial offer, but it is coming back with 80k more in annual compensation. It made me so torn!! Should I renege MBB offer?

like

Would you be willing to take a demotion for more money?

My boss keeps saying cryptic things that has me feeling like I am at risk of being laid off. Funny enough, today a friend reached out to me about an in-house position at her company. It seems ok and there is a chance I would be able to get a $5k or so raise in pay, but the position would be a huge title demotion for me from a mid-level strategist with 6 yrs experience to more entry-level coordinator role. Is it worth it?

like

400 marketers laid off at Uber today. The job market is about to get very competitive

likehelpful

I am a direct private lender. I offer fast and reliable loan at 5% interest rate with no prepayment penalty. I can close a deal within 3-7 working days.

Do you have any project/deals that needs 100% funding?

-Jeremy

like

With all the rolling layoffs happening in the city this year, are any good account directors hanging out here, and also creative teams? We are looking for some additional support on a project

like

Can a buy side research analyst get fired for underperformance? Are there p&l metrics that make it volatile career choice, similar to PMs?

like

Hi Fishes!!!
How is Coforge(previously known as NIIT Technologies) is for the Scrum master role on the basis of :
1. Work life balance.
2. Work nature.
3. No. Of teams handled by one Scrum Master.
4. Being Agile forum.
5. No. of reports and meetings for the agile forums not just teams.
6. Layoffs.

Please help me by answering as many pointers as you can.

Location is Noida.

Thank you.

like

Newer to the game compared to many of you, trying to decide if splitting 401k contribution between traditional and Roth is worth it.
Let’s assume I am not in a higher income tax bracket at retirement (current base is 100). Is it still worth it to split contributions between Roth or traditional (6% trad to get match, rest would be Roth)? Some different proportion split? TIA.

like

Hello everyone. How do I explain these gaps on my resume?

1. I took 12 months off from work to take care of a family member that was ill (2 separate times if 6 months)

2. Got laid off for 6 months

Because of these gaps, I feel like I get rejected from lots of jobs. How do I mention this in my resume? Thank you.

like

Will I get laid off by having low utilization? I have been asking for works but my utilization has been 50% YTD. First year. I'm very worried about the upcoming CRT review

like

Are there layoffs happening in PWC AC Bangalore ?

likefunny

More Posts

Are there any nice day spas in/around the city? I can’t seem to find any

like

Anyone on here have any experience in aerospace and defense in Europe either as a consultant, in industry, or otherwise?

like

Hi Fishes,
I'm a dotnet professional (~8 YOE) currently earning 17LPA + ESOPS + Yearly Incentives in Kochi, Kerala. I have received offers from Neudesic (IBM) - 27 (25 + 2) | Services | Kochi, Commonwealth Bank of Australia (27 + 5) | Own Product Dev | Bangalore, Publicis Sapient ( 32 + 1) | Services | Bangalore. I'm confused about which one to choose based on the current market slowdown.
Please suggest your thoughts on which company would be better for my career progression as an architect.

Some people in audit just have no chill. Where do they get the energy to do the most all day every day and never take PTO? I can barely get out of bed before 9am

likefunny

What podcasts do you all listen to- either for fun or to keep you up-to-date with industry trends and best practices?

like

Tomorrow is last working day in current org.

I have offer of EYGDS , UST GLOBAL , tokopedia.

Can you suggest best one in term of WLB , job stability

like

What are generally the different interview rounds with Indian PE fund?

like

Got this from a wine tasting event that a friend invited me to. Is it any good? I don’t know much about wines in general

Post Photo
like

Has anyone successfully refinanced a non-US student loan (e.g. from Prodigy Finance) in the US? Which company did you use?

I'm about to complete one year being a Financial Crime Analyst in Financial Services industry. I'm currently paid AUD85k. My performance has been outstanding and have received great feedbacks from higher managers and from other teams. I want to strike conversation for a salary hike when I complete one year in Nov and seek Senior Financial Crime Analyst title. What's the number I should be tabling and guidance on supporting that number? Any suggestions on the above?

like

Reminds me of Amber Heard

Post Photo
likefunny

Need advice. I’m in industry now and report to Controller who reports to CFO. I found out my raise is 2.75% and brought it up to my boss and he said “that’s what everyone is getting as raises are based on market, not inflation, and your salary is within market range”. I have a skip level meeting with the CFO tomorrow and want to mention it’s the smallest raise I’ve ever gotten or some other comment to bring it to his attention. How do I phrase that in a professional manner?

like

I bought a house six months ago and while doing some redecorating, I found black mold behind the wallpaper in the kitchen. Didn't the previous owners have to disclose this to me, by law?

like

A client of mine in Los Angeles is looking to hire 340B Pharmacist and 340B Analyst FTEs - DM me if you are interested. Thanks!

like

How hard is it to make a lateral switch as a data analytics consultant after 1 to 2 years?

like

Thoughts on leaving a data science position in a big insurance company (after 4 years) to work as a contractor in Jacobson Group? Brother is considering making this move bc he is interested in new opportunities but also mindful that the economic climate isn’t exactly stable. Any/all opinions welcome!

like

Hi Fishes

What is the salary band for Assistant manger in
KPMG india, and what is yearly hike as well bonus we can expect average in KPMG India?

KPMG India KPMG

likesmart

In developing a new PM department within a small Pharma company a colleague and I are trying to determine the best PM software/program to utilize. For reference we are steering away from MS Project and currently looking into Smartsheets. Does anyone have any other recommendations for a program they found useful? We want to have a dashboard that collates information from cross functional teams but, that can simultaneously be utilized for the individual teams. Tracking milestones, risks,budget...

like

Additional Posts in Consulting

Does your firm give you 2 weeks off by default at the end of the year? Like around christmas/new years time

like

Is it appropriate to give your client a small gift? If so, what would you give?

like

I was suddenly moved from delta platinum to delta silver ... realized it today when birding guy says sir you are not sky priority

How can I move from platinum to silver in May ?? Is it normal ?

like

What do you all think will be the net impact of our clients losing so much money? Odds of consulting layoffs? More demand for services to recover but fewer dollars to pay for it...

like

I interviewed for a full-time role (remote) but it was later revealed it would require relocation. I am not wanting to do that and they said I could come on as a contractor. The vendor I would go through provides benefits (medical, dental, PTO). What would be a realistic hourly rate to request/negotiate? I want to get as high as possible but also don’t want to settle for less than what I have to. For context, I am at 165k right now and the role would have been a pay cut to 135k (full-time).

Window seat on the last row of the plane, or middle seat in C+ ?

like

BCG US increased parental leave to 22 weeks for birth moms (and 14 for non-birth parent). And also introduced an additional 8-week family care leave (to attend to spouse, parents, children, etc.), effectively bringing potential parental leave to 30 weeks for birth mom, 22 weeks for non-birth parent.

like