We know the anxiety of layoffs as WF but looking at layoff.com pages for other big banks they're laying too.
If one has financial services skill sets mostly used in banks such as a loan officer ow do they move to other companies? I think IT is one that us the easiest to transfer to other companies.
Any thoughts?
Post your resume on indeed.com and monster.com. Loan Officers have many skills that other companies would love to hire them for. Not for loan processing, but for all of the other business skills that they have used processing loans.
While I disagree that past employment in Banking is an albatros around anyone's neck, I do grant that having Wells Fargo on ones resume could be detrimental to career health simply due to the reputational stain.
Imagine two candidates for the same job. Both candidates are well qualified and are exact matches. One has "Wells Fargo" on their resume, and the other has "Big Widget Inc". Which one would you hire?
Absolutely unfair to some very good people. But life isn't fair.
Even if you have desirable and transferable skills, banking experience will be an albatross around your neck. Bankers have a terrible perception in the business community and will likely not be given consideration with the exception of those with highly technical and specialized skills. Be prepared to start over if you truly want to get out of banking. Be prepared to get out of banking if you have more than 10 years remaining in your career. If you’re young What were you thinking and GTFO ASAP.
Traditional finserv is doomed.
Slow to adapt (if at all) + insufficient talent and leadership = extinction
Survival of the fittest. Period.