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Unemployed ex-banking VP launches personal hardship fund

If you work for an investment bank and are already apprehensive about your ability to find a new role if you lose the one you've got, then the recent experience of Kevin (Kaushik) Pramanik, a former risk and regulatory program manager for various investment banks in London, has the potential to disturb your sleep.

Pramanik has worked in London banks since 1998, when he graduated with a first class degree from one of India's prestigious Institutes of Technology. He spent 10 years at Citi in Canary Wharf, where he rose to become the programme lead for the bank's EMEA treasury and derivatives trading platform before the financial crisis, and three years at Credit Suisse, where he helped to run the initial MiFID regulatory program. He's since been a contractor at Lloyds Banking Group, BNY Mellon and UBS. He's founded his own fintech. He's set up his own strategy consulting firm. He's been an interim director.

And now he's reached the end of the line.

"I've sent out 2,000 to 3,000 applications," says Pramanik, "and I've had three interviews and been rejected twice at the final stage." For someone comparatively senior, Pramanik says opportunities are rare: "In my last positions I was hired by chief operating officers or COOs."

COVID-19 isn't helping: Pramanik lost his last role as an investment banking and asset management programme manager at Grant Thornton when the project was suddenly frozen, seemingly as a result of the pandemic. "I've applied to all the permanent jobs I see as a programme manager or director in banks," he says. Nothing.

After 18 months out of the market, Pramanik is running short of cash. As the sole provider for a wife and four children, he says universal credit payments from the British government are too little for him to survive on. "I used to earn £130k-140k in base salary, plus pension bonus and benefits," says Pramanik. "My contracting rate was £650 a day. Now we're living on £575-£600 a week, which is very difficult after paying mortgage interest and bills."

In desperation, Pramanik has set up a COVID-19 hardship fund [we have removed the link] to help tide him over. He wants to raise £25k, but has only attracted £550 so far. "Recruiters and HR have said to me that my CV is very strong. But, when it goes to the hiring manager, they just reject me. It happens again and again," he reflects.

He could always try and reinvent himself outside of finance, but Pramanik says that's not easy either: "I've tried a few times to apply for roles in other industries, but it doesn't work." After so many years in finance, he says it's very difficult to adjust to something outside.

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Photo by Hieu Vu Minh on Unsplash


AUTHORSarah Butcher Global Editor
  • St
    Stop it
    28 May 2022

    Bunch of idiots are writing some idiotic comments.

  • Ra
    Ram Nath Kovind
    6 April 2022

    Why are blocking all mine posts about Koushnik? I'm am writings most pleasants descriptions and learnings

  • Ge
    Genuine Midwesterner
    30 March 2022

    Now wait just a gosh darn minute here folks, why are y'all beefing with my good buddy Vinny? I spent six of the best months of my rootin tootin life with that big fella here in Chicago. I thank my lucky stars that President Biden granted K-dawg special dispensation for an emergency employment visa in the middle of a global pandemic so that he could work with me at Oliver Wyman right here in the Windy City. Truth be told I wouldn't have a clue how to plan, develop and execute corporate strategy if Pram-mania hadn't come along as the Lion he is and teach this sheep a few lessons he picked up in his Oxford, Wharton, Cambridge, LSE and Harvard days, I am 100% confident about that. What others can do in 6 months, Vin could do the same within 4 months at work, through focused, tracked and dynamic approach. The man is a rockstar!

  • Li
    Lifelong frend of kraupit
    29 March 2022

    It pane and saden me seeing coment about crumpet below. Kenny is such likeables guy, very smart strong hansom and vise. Jus last veek he sell me nft of his body, I pay small sum but he guarantee vin vin profit. If u also vant big money then kraupreet is man for u. Jus googo his name, he is most succ3ss with big big bank. He is also very good at senior management executive presentation.

  • Co
    College friend
    28 March 2022

    I am an old uni friend of Kevin Pramanik. We actually studied together and shared a room at IIT Kharagpur, at Wharton, at LSE, at Oxford, at Cambridge, at Harvard, but not at Said Business School in Oxford.
    Funnily enough we actually ended up on the same grad scheme at Citibank, Credit Suisse, UBS, BNY Mellon, Lloyds etc etc, Swiss Re and Grant Thornton.
    Kevin however left the grad scheme after one year to set up Global Prop Xchange, Orpington's largest REIT.

    I am surprised that, at present, Kenneth is still unable to find a job. It really says a lot about this world when you can't find a job, despite having a degree in Industrial Management, a degree in Fintech, another in Leadership, and in Finance, and in Business Strategy, and in Management & Organisational Leadership, and in Management & Business Strategy.

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