How do you deal with getting layed off in these times?

jog, exercise… beat the sh-t out of the speed bag?

When did you get layed off?

I would go and spend some quality time with my mom and dad who I barely see (once every 2 years maybe because they live in different countries). They could go any day so I’d really make the most of this “opportunity”.

I’d also probably seriously assess what I want to do with my life and whether I want to stay in finance. Sometimes getting laid off turns out to be the best thing to happen to people. Shakes them out of their comfort zone and makes them do things they would never have had the courage or initiative to do.

That’s very positive and sobering in a depressing way. What would you do if you weren’t in finance?

It’s a time to reevaluate. If a part of you is actually quite happy getting out (aside from lack of paycheck of course )l

Then maybe finance is not your thing.

Remember, you still have 40yrs to go. The big majority on this board haven’t even gotten there yet

+1, very good thoughs cleverCFA. My parents are in a different country and they are getting really old too. Haven’t seen them in 2 years.

Join the OWS movement.

I cut all unneccessary expenses and took about a 1 month solo trip to Costa Rica. Just before peak season I was able to live on less than I spent in the states, and that included having a rental car, which wasn’t really necessary. Now I’m tied into a car lease and some other anchors, but at the time I just wrote a rent check and headed south.

Basically it breaks the routine you’ve become acustomed to. Gives you some perspective, and keeps you too mentally stimulated to start feeling sorry for yourself. I came back feeling fresh and had something to talk about other than work or lack thereof. That helped with the networking and eventually another opportunity came along.

A friend of mine who is very average in the smarts/education department recently got let go and instantly started cold calling, hitting up friends, and putting himself out there like crazy. He had 2 pretty good offers within 6 weeks and accepted one which was basically a promotion and 50% raise. Most people don’t have that ability to just brush off getting fired and instantly call people, half of whom will hang up or tell you to quit bothering them. Thats why the trip was beneficial for me - so much of my life revolves around work that its easy to forget that your job doesn’t define you and getting let go doesn’t really mean much in the grand scheme.

Yeah, most people are risk averse, so if you already have a stable job, you’re unlikely to go balls out after new opportunities. Also, I get the feeling that lately, companies don’t like to hire people who are already employed. They don’t want to deal with negotiations and compensating you for forfeiting your yearly bonus. So many people are unemployed that there is no real quality difference between employed people and unemployed people, unlike in good years. Also, profits are not that great, so companies don’t want to dilute the compensation pool by bidding up the new person’s pay.

So getting laid off *could* be a good thing for some people. Maybe.

Drink heavily and have lots of unprotected sex for about a month. Then get your shit together and get another job.

3 years in my case

Thanks all for the very good advice… I got the boot yesterday. Had one final hurrah at the Dakota Roadhouse during the day… then feel asleep on the subway and woke up somewhere on W135th. Walked down through Columbia University campus, wishing it was 1995 and that I could start over… walked into St John Cathedral… just kept walking…

Still in a nebulous state of mind.

I am really fearful about the job markets. Might take a week vacation somewhere. Will definitely see my folks too.

True, I wasn’t enjoying the position I was in, but the lack of stable income is already freaking me out. I guess I can keep shorting GS to make some cash flow.

I’m fcking scared because the job market is worse than 2009. Yes, I have more time to study for CFA, that’s good I guess.

This will also help me stay of the booze. And stop eating out. Maybe this will be a good thing. Right now, I’m feeling pretty fcking FUBAR.

^ A Yo. You’s a good homie. Don’t listen to the liberal media! Despite all the loom and doom, I feel the job market is doing just fine. Even if firms are tightening their belts around the budget, good employees are always in demand to drive the firm forward.

There is a lot of good advice in this thread. If I was you, I’d take some time to figure out my future long term goals and aspirations. I probably wouldn’t be able to relax if I took a vacation and I’d be constantly figiting over the cost of everything. A staycation would be my thing filled with fitness, reading, and networking. Start meeting people for coffee to get a feel of what’s going on in their respective company and also to figure out what a suitable next step for you would be.

Most importantly I wouldn’t freak out or be afraid. Even if 1,000 people are applying for a single job, I’d lay a crisp $100 that 975 of them should not have applied in the first place. Being on the other side of the table earlier this year for an underling, I was amazed at the number of people who applied for the job who met ZERO of the qualifications desired.

As always, work hard, do your best, and things will work out. Come see me up in Harlem and we’ll kill a few 40s and converse more.

I’d say go visit the parents for a week. Start applying. The job market really isn’t terrible. Keep your shit straight and you’ll be fine. I’m cheering for you man.

Move to DC; the job market here is very good(compared to other places) and cost of living is much lower than NYC!

Agree…I sent out few apps just to get a feel of things and was pleasantly surprise with the level of interest I got back.

But first, like BS said, now is the time to catch up with family and loved ones. It will do you some good.

A Yo, DC is wack.

On my return flight back to nyc from DC, there was this business guy sitting across from me in the aisle. he was around my age and spoke proper. behind him was a black guy maybe a few years younger in his early 30s in jeans and a t-shirt with his chain hanging out. the black guy gets up and decides to get his backpack. he opens the overhead bin and then sucks his teeth. he asks the white guy, “hey…is this your bag?” the white guy acknowledges and the black guy goes, “why are you putting your bag on top of my bag?!? I have electronics in there.” i look at the bin and there was enough space where the white guy’s bag was simply resting on angry black man’s. the white guy is like dumbfucked how territorial this nigga is getting over this bs. yeah he might have electronics, but it was just probably his beats headphones and shit. the black guy ends up telling the white guy to put his bag in another bin because there was plenty of space. indeed there was enough space and the white guy complied, but the black guy is still an asshole. this is the type of bs that flyers out of DC go through. i remember on other DC layover flight the stewardess announced on the speaker for passengers to identify a bag in the aisle. what happened was that it was a full flight and someone took a bag already in an overhead bin and placed it in the aisle to make way for their own bag. good going asshole as you no longer have to wait at baggage claim for your shit. but your ass is still going to burn in hell…hahahaha

^justice

Shit dude, sorry to hear that. So, I guess that AR cash balance model didnt workout?

But yeah, catch up with loves ones and have some fun. Then make a 100% effort toward finding employment… dont even look at this as a bad thing (if possible)

Were you drinking while writing this? Lol