Discover your dream Career
For Recruiters

"I lost my job at Goldman Sachs. Recruiters are all over me"

I was one of the people to lose their job at Goldman Sachs this week. It was a shock - I'd been at the firm for most of my career and hadn't planned to leave. I was one of the senior people cut.

Being RiF-ed, however, has been a revelation. I've been overwhelmed by the reception from recruiters. I don't think I'll have a problem getting back into the market.

Within 24 hours of leaving Goldman, two rival bulge bracket banks reached out to me. Within 48 hours, three headhunters had reached out. Last year was difficult in my space and 2023 is unlikely to be much better, but it's proof that Goldman Sachs people are always in demand.

I don't think it's like this when you leave banks like Credit Suisse.  When people leave Goldman, the Street is interested. I know that rivals have asked headhunters to identify who was let go so that they can pick us up. It's a testimony to the caliber of GS talent.

It's harder if you're junior. People who'd been with the firm for less than a year were let go; unfortunately, they can more easily be replaced with next year's graduates. Experienced talent is harder to find. Most banks are expecting heavy turnover after this bonus round, both from people leaving for boutiques and from people simply leaving the industry. - If you were only planning to work for a few more years, you might decide to retire now rather than hanging on for a market that may not come back until 2024 or beyond. 

Personally, I have no plans to retire. The response to this week's layoffs has been reassuring.  I don't think I'll have much problem finding a new role. 

Jacob Watson is a pseudonym 

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

author-card-avatar
AUTHORJacob Watson Insider Comment

Sign up to our Newsletter

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Jobs
Garrison Associates, LLC
Quantitative Developer
Garrison Associates, LLC
Manhattan, United States
Goodman Masson
Director – Structured Financing & Private Debt
Goodman Masson
London, United Kingdom
Cobalt Recruitment
Private Equity- Investment Analyst
Cobalt Recruitment
London, United Kingdom
Chief Investment Officer (CIO)
London, United Kingdom

Sign up to our Newsletter

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.