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How Long Does it Take to Get a Job in This Recession?

Would you consider a career change to Academia? Former Lehman Bros. exec is doing just that at Notre Dame.

Would you consider a career change to academia? A former Lehman Bros. exec is doing just that at Notre Dame.

How long will it take you to find a new job after a layoff?

That may be an unanswerable question. For some, it’s an excruciatingly long period of job searching, networking and tweaking countless resumes.

Take former Lehman Brothers Senior Vice President Michael Crehan, who spent 17 months job searching before he landed something he desired. Crehan has been blogging for the Wall Street Journal’s excellent series called “Laid-Off and Looking,” which profiles individuals (mostly in financial services) as they seek new jobs.

Crehan writes about the lengthy process, which has entailed relocation, a cut in pay and adjustments for his family:

If you had told me last year after I lost my job that it would take me seventeen months to find a job, I would have looked at you with a bit of caution, some concern, and lots of fear. A few days ago, I accepted a position at Notre Dame, my undergraduate alma mater, in the career development office at Mendoza College of Business. While Plan A through this process was to try to find employment in the New York market and stay in our current home, this position involves a move to Indiana and some mild upheaval for my family. Most people realize that a move to a university involves a significant drop in compensation, especially compared to the New York financial services sector. But lower costs of living and the quality of life factor provide important offsets.

According to Crehan, his shift to an academic setting comes at a good time in his life.  He regrets not being a better networker while employed, and wished he’d done more volunteer work and read more books during the layoff time. But ultimately, he’s happy to be back working.

Crehan’s story reflects the changes successful, senior-level individuals face during this economic shift.

Are you laid off and looking? Do you need networking, resume and career advice? Look here:

[Image by Paul J Everett via Flickr CC 2.0]

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