Unemployed forever

I’ve been unemployed(kind of) for awhile. I’m pretty much at the brink of considering life termination.

I lost my job due to some silly securities and the entire asset class just doesn’t exists anymore. To make myself be more specialized, I studied life sciences and found a very small job and odd position at a oversea VC company looking at biotech industry. Due to my age and being a woman, I had to come back to the US. I knew the job market wasn’t well and had a very hard time looking for a job. So I said, can’t find a job I’ll make a job. I did. I programmed, designed, marketed a business. But business isn’t doing well. And I really want my finance job. But recruiters always look at my résumé and put me in the “developer” bucket. I’ll admit, yes I built a full blown software but I can’t claim that I’m a total expert. I’m still better in finance. And people seem to ignore all my experiences in finance and the exams I’ve taken.

I’m almost at the point where I cannot survive any further and ending me seems like the only choice. I don’t know where to go anymore. What is the point?

You have more drive then 99% people out there. Also you have unique experience. My rule is to never give up.

Sent you a PM.

I hope you don’t mean what I think you mean. It’s always darkest before dawn. Maybe this is an opportunity for you to look at other sectors of the economy to find your calling.

“… I programmed, designed, marketed a business. But business isn’t doing well. … But recruiters always look at my résumé and put me in the “developer” bucket. I’ll admit, yes I built a full blown software but I can’t claim that I’m a total expert.”

Reformat (reword) your resume appropriately – rather than highlighting your programming skill prominently give prominence to your “experience in finance”. Avoid key-words which automatically puts you in “developer” bucket – the first stage is pretty mechanical (whether by machine or humans) at their end, so rewording to make yourself seem more suitable for the type of assignment you want may be bit difficult but not impossible. If necessary change the order of work history and add more skill sets suiting the offers you are looking for.

“I’m almost at the point where I cannot survive any further and ending me seems like the only choice.”

It may seem so if you are despondent and ignore all other blessings you have in your life. Living a good and meaningful existence is not always a smooth drive, bumps are there. Sometimes the bumpy roads seem longer – but in fact it is not so in reality as bad things always seem more severe than the good ones. Have faith in yourself and see / analyse the positive side of your life you will get necessary motivation and willpower to overcome it. To start with think how many reach Level III of CFA? Only a miniscule percentage of the total finance professionals – but you have! Secondly You garnered a self-working experience in ‘creating’ a business – doing well or not is a matter of chance in any business. What matters is that you had the self-confidence and innovative talent of thinking out-of-the-box when faced with unemployment. And so on……It is immoral (to say the least) for a person with self-confidence and such talent to even think the way you are thinking now – be brave and face it.

“I don’t know where to go anymore. What is the point?”

Life and career never offers a single destination and options emerge if you keep up the effort. Never think of giving up, that is for cowards –running away from life situations is no solution. If there is no point in anything else, think of those many people, your family, your close ones and your friends who look forward to you to succeed in your life and you owe them the obligation to prove that their thoughts about you is right. Being unemployed for a while is not the end of the world. Regain your composure and think positively, count your blessings and start afresh with confidence. You will achieve your desired goals. Best wishes.

The job market has been awful for the past 6 years, but is finally improving for realz. One of my gal pals has been unemployed for the past two-and-a-half years, and just last month landed a sweet gig at a majpr NYC-based global asset management firm. The same could happen to you.

Original poster - you seem like you have a ton of hustle and have reinvented yourself successfully a couple times already. Sometimes you have to turn over a lot of rocks to find a hidden gem. This takes time, but ultimately things do tend to work out favorably in the end. You may need to make some changes to your search process or how you are currently positioning yourself, but members on this forum are here to help.

Perhaps you can tell us a bit more about what your search process has entailed and what you’ve done at every critical step of the way, so that we can possibly advise you on things you can do differently but which you were not able to diagnose or fix yourself.

Long term unemployment (and underemployment, too) is really hard. I’ve been there, and although I managed to keep those kinds of thoughts at bay, I know they can creep in the back door of your mind when you’re not feeling strong or optimistic. When you get down to it, most suicidal people don’t really want to die, they just want achievable alternatives to living with the pain what they are experiencing now and a sense that slogging onwards will eventually pay off somehow. My guess is that this is where you are. What kills is a sense of hopelessness combined with shame, more than anything else. Finding some way to reassure yourself that you don’t need to feel ashamed, and to provide hope or a reason to keep going, even if it means reframing how one looks at oneself and life and/or future, is the best chance for help here. Despite the puerile mocking of back office jobs that the BSD wannabes like to dish out on this site, there’s nothing shameful about being a developer. For one, it’s honest work, which is more than one can say about much finance work, it requires skill, and - compared to many alternatives - is not poorly paid. People that start businesses often have to follow what the market offers them… if people are willing to pay you for development, let them pay you for development. I like analysis myself, and I get to do some now and then, but people put me on writing tasks because that’s where the need is greatest and perhaps where my competitive advantage is.

So there’s no need to look at “development” as something beneath you. I know you want a finance job, but what you need now is just a source of income. And development work is better than a lot of work. You can keep networking and learning and writing. And most finance people dont’ end up as masters of the universe anyway - you just hear about them on television, so it’s easy to think that if you arent’ in finance right now, it means you’re giving away the opportunity to be the next Warren Buffet. Perhaps you are, but it’s very likely that even with a finance job, you’re not going to be the next Warren Buffet. Remember too, the times are cruel. I had a 55 year old friend get fired recently for apparently no reason at all. after 6 months of unemployment, she can no longer live in New York and is moving to Florida where her mother lives. She’s doing a good job of keeping a stiff upper lip, but it’s got to be hard for her. I was helping her apply for jobs and she just broke down crying, saying that becoming a lawyer was the worst decision she’d ever made in her life. These things happen out of the blue, and although one can probably identify some mistakes that any one of us made - who has never made a mistake in their life - the truth is that it can happen to the vast majority of us at almost any time. And despite what people on this board say, the majority of people don’t have years of fat bonuses to line a rainy-day fund.

So don’t let pride or shame keep you away from an income. You need to realize that there’s no reason to beat yourself up over a long unemployment stint, and there’s no reason to beat yourself up for not having a finance job. You need to find some friends and people who understand that, and finance people probably aren’t them.

Be open to the development positions. Keep pounding away at finance opportunities if you want them, but there’s nothing wrong with doing what you need to have an income.

In The Aeneid, Virgil wrote “Forsan et haec olim meminisse iuvabit,” which translates roughly as “One day, perhaps, it will be pleasing to remember,” or - more colloquially - “one day, perhaps we shall look back on this and laugh.” Aeneas says this as his crew have just found themselves shipwrecked on the shores of Africa, and all of this, after seeing their families slaughtered when they lost the Trojan War. It’s one of the most beautiful lines in Latin, about overcoming when all seems lost. Aeneas ends up falling in love with Queen Dido in Carthage while in Africa, and then later heads off to Italy, where his family line supposedly leads to Julius Caesar and Augustus as well. (ADDED: http://classics.mit.edu/Virgil/aeneid.mb.txt : look for it on line #298 of the text doc, if you’re curious)

You’re not alone. Your emotional experience is more common than people like to admit, so don’t beat yourself up over it. Do what you do to make it to the next day, and tomorrow do what you need to make it do the day after that. Keep pushing, and someday, perhaps you will look back on this and see it as a time when you showed your strength.

And finally, make sure you don’t tie up too much of your sense of self worth in your job and your income. People who do this are largely miserable anyway. Exercise, good food, good friends, singing, dancing - all of these are ways to make life more appealing. Dont’ forget about them!

You’ve received some great career advice here and I cannot add anything more to that. The only thing I will reiterate is that you need to speak with someone who knows what you are going through. Please find a counseler near you who can talk through your feelings. They may be able to help you figure out a solution for getting back on your feet.

Failing at entrepreneurship is extremely difficult. I’ve been there. You’ve put everything you own, including your money and soul into a company that is not working out. You become part of the company and you identify yourself with it. When it fails, it is like losing a loved one. Please don’t try to get through this alone. If you cannot find a couseler, find a meetup with other entrepreneurs to discuss your feelings. Some will have gone through what you are going through. They can probably direct you to someone that can help.

This is great advice. I would add this book to Pompey’s list:

http://www.amazon.com/How-Stop-Worrying-Start-Living/dp/0671733354

I know this may seem like a stupid comment,I myself am not in a good position starting from these forum where alot of people hate me at best(most people ignore me :D) .Up to now(I am in my late twenties) the most sophisticated use I had for my head was a punching bag,at the moment I am working a job as a bouncer at night clubs and studying accounting at the same time,yet is my dream to pass level 3 and get my charter.You are far more advanced than me in your career,security in my line of work means you dont get knifed/glassed at your job.Please remember so many people want to be in your position I AM SURE 1 YEAR FROM NOW ,you will be in a very different position from now and your fears and goals have changed slighly.

Watch the pursuit of happyness.

That is really impressive, how did she explain the gap?

Hot_Pink, I’ve been in similar positions and laid off several times. I’ve also gotten my ideal job years after having given up on it, while unemployed for 4 months and my gf was preganant and then delivered our first child, our cash was running out, and we were in temporary housing. Oddly enough, this was one of the best times of my life because of all the time I got to spend with friends and family. Like Chad said, if you really are at the end of your rope, find someone qualified to talk to. Beyond that, I have two points:

  1. You need to FOCUS YOUR RESUME. Your resume is not a catalogue of everything you’ve ever done. It’s a sales pitch for a specific role. If you have a summary section, list yourself as whatever your target job / career field is. Design everything to reinforce that target job. Emphasize the financial aspects of your business experience. If it comes up, list it as a testament to your flexability in terms of job function and ability to tackle learning curves. Stop using recruiters. They suck and they’re a waste of your time. They’re only there to help themselves by sticking you in your old industry or in jobs below your potential for a quick buck. Seriously, fuck them.

  2. Find another outlet. When my career hit what appeared to be a stagnant point, I pursued areas of personal interest. For me, it happened to be whitewater kayaking. I became a part time instructor and became very engrained in the community. I gained a ton of friends that are as close as family, a healthy lifestyle and new perspective that dimished materialism and moved my self worth to areas like friendships, impact to strangers, fitness and the outdoors. It was an important growth stage in my life and the one I enjoyed the most. And the entire time my career was drifting in neutral and I wasn’t balling by any means. There is far more to life than the job you work, and I don’t mean to dimish your personal trials at this time, but this honestly could be a huge opportunity to change who you are and how you define and value your life. Of course society wants you to value your job so highly. That’s the lie that keeps the engine going so US corporations can skim 8% off shitty widgets made in China. But it would be a great tragedy to go through life defining the value of your journey by what you do 9-5. So it may be best to focus on fixing your value system (possibly the issue) rather than trying to fix your career issues (the symptom), and realize the opportunity therein. I don’t mean that to be critical of you at all, but just to show you an alternative way to look at the situation. At any given point, its good to realize that you have all that you need to be happy and content, its just a matter of discovering that state.

I would look at the world in a larger lens. Finance can be found in a lot of areas. Maybe you’re thinking too specifically?

I switched it pompey, reading fail on my part.

"It is our failure to become our percieved ideal that ultimately defines us and makes us unique. Your percieved failure can become a catalyst for profound reinvention.

Whether ou fear it or not, dissapointment will come. The beauty is that through dissapointment you can gain clarity, and with clarity comes conviction and true originality"

Why don’t you just make a career in software…yeah it’s not a finance job…but better than unemployed? I would think that to be more interesting and rewarding, especially given your obvious aptitude for it…and I always hear about how there aren’t enough women in tech…

I agree with this. You seem you’d be extremely qualified for plenty of jobs that require financial and computer knowledge that isn’t just a developer role.

hot_pink, you have some great experience and you have a proven track record of initiative, drive and ambition.

Recruiters are all idiots and the look at things too simplisitcally, if they were really any good at picking good candidates they’d be doing something more worthwhile as a career, for them its a numbers game so don’t be too disheartened if they are filtering you. Try to bypass them altogether, look out for companies advertising and apply directly. I’ve found my local CFA society job board to be useful for example. Get out to network, all it takes is meeting one hiring manager that has a interest in the type of company you started or the roles you’ve done previously and you have that connection.

there’s some really great advice and opinions on this thread.

Keep on going, it will get better

robo advisors would prolly love u