If you were planning on looking for a new job but could not start until Aug 1st at the earliest due to contractual obligations (I have a two month severence period starting Aug. 1st), when would be the best time to start sending in resumes, reaching out to outside contacts and reaching out to internal resources? My conerns are, I will apply to early and blow opportunities because I cant start when they need someone, I will burn bridges internally because it will appear I am concentrating too much on my future and not enough on the task at hand. I am sitting for Level 1 in June. Any suggestions, comments are welcome. Thanks GenY
Start sending resumes out now. Networking/interviewing/applying for new jobs take time and a few rounds of interview + decision time could easily take a few months. Given the tight job market now I wouldn’t be surprised if it takes you 3-6 months to land something that you like.
I’ve been in a similiar situation. Simply be upfront about your intended start date and it should work out just fine.
I certainly agree that I should start looking before I finish up where I am. I mean, I understand what the job search entails, after all, I got this job somehow. The question is how soon. Aug is not a few monthes away… it is 6 monthes away. With current economic conditions, how many financial companies know what there hiring situations are going to be in August? especially since, like everyone and their mother on here, i want to get into research (notoriously a cost center). Also, is it worth waiting to get my CFA results? Ive been working hard and steady on studying since mid-decemeber but still, from what I can tell that hardly gaurentees a pass. Tough times, tough decisions
when is it EVER worth waiting to look for jobs, especially when you are imminently unemployed? you must not have tested the markets lately, because hiring is very stiff right now and there are people that have been searching for months and still haven’t found anything. i agree with billwest and KJH…just let them know of your intended start date, but begin looking immediately. in this job market, nobody cares if you pass CFA level I, and even when times were good, i don’t know if employers cared too much about it then either. anyway, your commentary about future hiring circumstances and your thoughts on equity research underscore your lack of experience on wall street, but i guess you have to start learning somewhere. bottom line is, this is not a tough decision here…start looking for a job as soon as you can
p.s. if there is one thing that i’ve learned in my time on wall street, it’s that timing is EVERYTHING…and more
Thanks for your suggestions, I have already started testing the waters but after these pointed comments I will ramp up my efforts on this search immediately. Good shop recommendations in Boston? Numi, im assuming from your commentary on my commentary that you must be a Wall Street veteran. What about my assumptions suggests a lack of experience? Care to educate me? It would be best to jump back into this process armed with as much knowledge as possible. Again, thanks for weighing in… GenY
(1) you can’t count on hiring situations to improve or degrade…you never know what banks will do, but if you’re out of a job, you should start looking as soon as you’re ready. it’s a matter of taking charge of the things you can control (2) research may be a “cost center” but what about it makes it “notoriously so”? fact is, there are many business units in large institutions that are cost centers by definition. cost centers are not unimportant to companies; in fact, many of them contribute to the top-line indirectly - and just like any other business unit, research has a P&L and it is still possible to measure what revenues it’s bringing in via trade commissions. so the point is that even though research doesn’t manufacture revenues on its own, its impact on the institutional side of the business is tangible as revenues flow through S&T rather than research in and of itself. similarly, IT is also a cost center but that doesn’t make it unimportant to the firm. but it’s good that you recognize the value of starting a career in research as it does give you a lot of important fundamental financial skills and industry knowledge (3) i’m not an industry vet…far from it. but from the start of my career, i always kept my eyes and ears opening, and spent less time talking and more time listening. it’s easy to get caught up in the day-to-day job but never lose sight of the big picture, i.e. what’s going on in the firm or industry as a whole, and what your career goals are