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Can you get back in after six months out of the market?

As the ex-banker turned security guard who is writing for us today makes clear, the longer you're out of the market, the harder it is to get back in again.

After being out for six months, he spoke to one recruiter who told him his skills had atrophied to such an extent that he was unemployable compared to people let go more recently.

True? Or false? If you lost your financial services job in late 2009, what are the chances of being reemployed in a similar capacity when conditions improve?

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AUTHOReFinancialCareers UK Insider Comment
  • th
    the reality
    20 May 2009

    6 months out and you certainly can get back in - however, like our overseas brethren, you will have to be cheap.

  • tr
    trek102
    20 May 2009

    Forget recruiter advice. After having worked with my share of the trade over the last 5 years in the city, I can honestly say: I trust a recruiter's advice as much as a Russian car sales man in New Jersey. And believe me, I have worked with heads of the top executive agencies and with Joe Block Financial Recruitment shop one man band Ltd. Neither of them is in the business to give anyone advice. They are selling bodies and most of them would sell their grandmother to Goldmans if they can get a nice commission for it. So, forget what a recruiter says. Most of them dont know the difference between car loans and leveraged loans or between asset management and asset servicing. Anyone can get back into the market, even after 1-2 years if they prove they will add value. The key is to stay in touch with your market, either through pro-bono work or by opening your own consulting/advisory business. Forget the size of your pay-check for a while and do not let HHs discourage you!!! Most of them have no clue!

  • em
    emilio13
    18 May 2009

    It is possble to get back in after a gap but perserverence is key.
    I was out for 15 months in the last downturn and got back in but make no mistake, life adjustments are needed & it's character building for most if you adjust your mindset. Re recruitement consultants, personally, I use a select few only and have consistently seen the so called big names being very much churn & & burn merchants. Another true example, I was once sent a spec for a pure programming role and the consultant then called me for the required green light. I'm in the business-line so I asked him where exactly on my CV it says that I'm a cobol programmer?? his response "well you've used a lot of systems so I thought it was worth a try"! Pathetic, so told him to learn to read & to stop wasting both mine & his own time then hung up, Frankly, I rate most consultants as much as I rate estate-agents, nuff said, no industry accreditation and many failed City wannabees end up in recruitement where they have no clue on the internal process's at the banks etc. Make your own moves and network is my advice, never failed me yet.

  • Jo
    Joanna
    18 May 2009

    As a headhunter, this guy has been told utter drivel. Nobody's skills are going to 'atrophy' over six months - people come back to their jobs after career breaks, maternity etc years afterwards (seven years anyone?). This is just code for 'we are not desperate enough for staff at the moment'. Long-term unemployment is certainly to be avoided, but more for reasons of morale than anything else - also if someone is long-term unemployed they are expected to have found something, anything, to do if they are any good. As for not being able to come back in, that is tosh as well - everyone understands that the best professionals cannot control market conditions and sometimes have to make career decisions which are not what they would want in a non-existent ideal world. Of course, this can be a good out to say no to a candidate of whose calibre you are unconvinced - but I would say that noone needs to be seriously worried that they have been doing something other than their chosen business for at least two years, by which time even the worst recession should show signs of lifting. (Of course, if things improve and you don't go back immediately, questions will be asked eventually).

  • di
    disgusted
    16 May 2009

    It does not stand to reason you are lower calibre - My company simply closed for business due to the parent company's financial situation - everyone went so no reflection on any of us. However, anyone madde redundant at the start of this recession will have a greater chance of being out for longer because there has been very little hiring since Q3 08.
    It is this sort of narrow minded stupidity which wastes the talents of perfectly good people who simply happened to have some bad luck. The effect on morale of comments like this is destructive and corrosive and encourages the false arrogance of those who just happen to be lucky.
    This has nothing to do with a meritocracy but merely bolsters the egos of the lucky and further destroys the lives of the unlucky.
    Life is not meant to be fair but ensuring those who suffer misfortune have no chance of reviving their fortunes through hard work and resilience is counter productive. They may be the very people who have the drive, resilience and resourcefulness to survive adversity and the common prejudice is ensuring their talents and potential contributions are wasted.

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