I’ve heard of so many colleagues here get laid off only to have no options but to come back here at a lower pay. And they get laid off again! I’ve had a good career here, really built my network up, and have rose through the ranks to SVP from entry level within about 12 years. But it’s gotten unbearable here and I’ve had zero luck getting interviews at other companies. Even colleagues I reach out to on LinkedIn don’t respond to my DMs so kind of losing hope here. I don’t think I’m at risk for layoff but I know I’m underpaid and it’s still only a matter of time until it happens anyway.
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@av+1jgv8sa8a
Good post. Totally 100% true and cold reality.
This place likes to state that it ‘invests’ in it’s employees. But that is now just a lie. A marketing fib to make itself appealing to the next victims that accept a position here. The sum of what you say is that it’s all on you to: train, invest, create your own retirement, have healthcare that works and keep your own mental peace of mind. This place does not want to spend one cent on employees other than just paying a salary. No pension, no profit sharing, no health benefit matches and very soon, the 401K match will be stopped. The days of long careers and lifers here are extinct. Loyalty is only to share price and the investors.
To OP, just stating facts and a few words of encouragement. This place makes anyone feel lost beyond 6 months in. The fact that you aced a decade is commendable. It’s only natural you feel out of sync with the job market and what your goals are. It’s NORMAL.
If you have the bandwidth, make use of the resources, Coursera, Udemy to skill up in areas you are interested in and start interviewing. Also allow yourself to have not do great initial calls… Also NORMAL. Job market/ interview conversations will direct you to where the high tides are landing and will help have your elevator pitch and goals. Give urself atleast 3-6 months for this process to pan out.
Give yourself a pep talk: you endured this place and all the monarchy changes and got promoted in the last decades… that speak if many things about you! Remember that. As take the fear of inevitable as the universe nudging you towards a change that’s probably much required in your career…
The last few years since covid has taught us the following lessons
- We are hired g-ns. When the mission is over we are dispensable. It hurts but unfortunately that is the operating model
- Constant update of skill set is the new ask The balancing act of doing the routine (which is already old technology - like a new car driven out of the lot ) and keeping pace with the new is a requirement.
- Constant interviewing - even if one plans to build a career has become essential
- There is really no benefit of being an employee than a free lancer consultant.
FIRE (Financially independent Retire Early) is the new way of life. Though a bit late to get on that band wagon being an employee (W2) in a firm like BNY is not going to make achieve that.
The Risk vs Reward nature of consulting - being your own boss - is required