Friday, 29 March 2013

Wall Street Oasis - Investment Banking & Finance Community: Laid off today. Seeking advice and help

Wall Street Oasis - Investment Banking & Finance Community
The Wall Street Finance Community where investment bankers, consultants, traders, private equity and hedge fund professionals come to learn and play.
Laid off today. Seeking advice and help
Mar 29th 2013, 08:13

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I was laid off by my firm today, after 14 months working here. My boss's boss told me that the firm hasn't closed any big deal since I joined and needs to cut down expense. Given I am the only analyst in the firm and they didn't have such a position before, they think it's best for the firm to go forward without a junior position.

I was really excited when I was given the opportunity to intern there. I worked as hard as I could to convince them that I can add value as an analyst. I was so excited to receive the offer after the 2 months, especially since they only had 5 people on the banking side. I tried to continue giving it my best effort. We had 2 very good opportunities to close a ~200M deal, but both times the other side backed out at the last minute. Partly because of this, work got really slow earlier this year and today this happened.

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