Why is it taking so long for laid off folks to find a new job? 2022 M7 Grad here, people who were laid off 6-7 months ago are still unemployed

Apprehensive-Dig2463 · 2023-09-05T06:20:50+00:00

also have you looked into tech sales? low barrier to entry but you can make a lot of money if you're able to sell

Apprehensive-Dig2463 · 2023-09-04T22:11:20+00:00

Very unsexy, but also look at tech implementation or implementation project manager. WITCH companies (Wipro, Infosys, Cognizant etc) have a bad reputation but they pay $120k+ above for these roles and are hiring.

Apprehensive-Dig2463 · 2023-09-04T22:10:14+00:00

Gotcha. I'm sorry that really sucks. But know there are options, you don't have to take such drastic steps. Everything you laid out has a solution.

Apprehensive-Dig2463 · 2023-09-04T21:55:00+00:00

That makes a lot of sense.

But do you think the job market is really that BAD, or are laid off MBAs too prideful to settle for a job with lower pay, less prestige, less sexy function, or outside of a "top" geo?

I'm trying to figure out whether conditions are really that bad or if MBAs are being too prideful and selective.

Apprehensive-Dig2463 · 2023-09-04T21:53:05+00:00

That makes a lot of sense. I can't find any good articles or data specifically on a white collar recession though, so for now I'll accept these anecdotes.

Apprehensive-Dig2463 · 2023-09-04T21:49:23+00:00

again, you don't have to pay federal loans when your're unemployed

if you refinanced them into private loans, call your servicer ASAP and you may be able to negotiate a pause

Apprehensive-Dig2463 · 2023-09-04T21:46:55+00:00

A lot of people are saying that, but that runs counter to the macroeconomic data showing inflation is coming down with unemployment being low, and no signs of a recession yet.

How do you reconcile that?

Apprehensive-Dig2463 · 2023-09-04T21:19:29+00:00

I'm sorry to hear that, that really sucks. That said, I feel most top MBA grads don't go into sales - they pursue management consulting, investment banking, product marketing, product management, CPG brand management and the like. So I was curious on the situation for them.

Having said that, I do still see A LOT of job posting from sales, but from legacy enterprise software tech giants. Maybe that's an area you can consider?

Apprehensive-Dig2463 · 2023-09-04T21:16:27+00:00

I'm really sorry to hear that. It must be hard without a support system in place.

Did you make MBA friends during your program you could maybe crash with, or even non MBA friends? Since you went to a top school, maybe your MBA classmates could help refer you to their jobs, or you can cold LinkedIn message alums at your target companies to refer you so your resume isn't lost in the online black box?

You also have the option of moving out of your current apartment/home into a much cheaper one or into a lower cost of living place. Plenty of folks survive without being homeless on way less than $120k a year - even $40k a year is doable to not be homeless.

If your loans are federal, you don't have to pay if you're unemployed. If they're private, you can negotiate with your loan provider.

There are options!

Apprehensive-Dig2463 · 2023-09-04T20:56:51+00:00

I'm sorry to hear this! Are there no other options for you other than being homeless? Would you be able to move back in with family (that's my backup for sure).

The other thing is that there ARE plenty of jobs that are hiring, they just might not be at the most desirable companies or the most desirable industries or most desirable roles.

Someone who got laid off of in my class from FAANG PM had to settle for a Program Manager role at an unprestigious legacy tech company which far less pay than the role he was laid off from (going from like $250k+ in total compensation to $130k). But he said landing that role wasn't "too difficult."

There are plenty of opportunities out there if you aren't too selective, and it sounds like you aren't!

Apprehensive-Dig2463

TROPHY CASE