I still have my job, but I wouldn't be shocked if I get the boot in the next few months. My main problem is finding a good-paying job that's not a nightmare, especially for someone over 50.
I've been searching online, and all I'm coming across are stories of people 50+ struggling to find decent gigs. Is it really that tough out there?
7 replies (most recent on top)
Have you tried Congress?
Just kidding. Hope you find something soon. If you’re still employed try out the career services group. They are not employees of Truist and everything is confidential
@pur+1qAYv97M Bingo
It is not impossible (at all) to get a good job over 50. I left recently left, am over 60 and had a job lined up before I (happily) resigned. What a great feeling that was ! One of the benefits of your age and long career is you likely know a lot of people at different banks (assuming you want to stay in banking). Many, many jobs are not listed anywhere - but most banks are always looking for good, experienced bankers, especially if you are a client facing banker with relationships. Even if you are not, I would recommend contacting people you know at other banks, former colleague from Truist (there are a lot of them out there at competitor banks now). Community banks, in particular, seem to value experience and understand that with experience comes a following of clients. Don't be afraid to spread your net wide - you may be surprised at the positive reception that your experience brings. I feel like leaving when I did (I was not RIF'd but my quality of life was suffering) was the best decision - it has literally added years to my life, with less stress, enjoying my job again. Added bonus - the salary / pay was on par with what I was making a Truist (slightly more - and I probably could have negotiated for even more, but was just so happy to leave that I probably accepted the offer to easily). Best of luck to you - Truist doesn't value you, the experience and wisdom your age brings, but another employer will.
Don’t despair. I think a lot of people who have been in banking for a while have a narrow definition of job opportunities, and only look for things that “look like” what they are used to. My wife is in technology and finds it hilarious how “old school” and “government like” banking and bank employees are. She tells me numerous times a week “I don’t know how in the world you do it”.
I say that for two reasons. First, free your mind of the “bank structure” you have been accustomed to. For example, there are a lot of consulting opportunities depending on your skill set. I would say at least half of my friends do some freelance consulting.
And second, banking is rapidly changing. It is a consolidating industry. This makes it a tough place for middle-aged people to find a lot of opportunities - it is about young labor and low costs now. If we throw away “comfort thru familiarity” and are honest with ourselves, banking has evolved into (generally speaking) a horrible place to work. Expand your search to different industries (most skills are transferable), network, and it WILL work out.
Also - network… as much as you can. I feel like doing this now, while you are employed, will help when/if a RIF happens. Far better a situation to land in than endlessly surfing LinkedIn when out of work.
I felt this. I’m in insurance. So not only did we get the 6% cut to 4% the Truist 401k, we will also lose further accumulation to the pension. So for all the years that Kelly and gang preached the gospel of how their total compensation figure was more important than base pay, now it’s not. So many of us are angry for all the years we hung on believing this notion.
Not sure what you mean by finding a job that’s not a nightmare but yes the struggle if you’re over 50 is real. Worse if you’re over 55 and DEI doesn’t save you at this age, at least not if you’re a white female. No matter your skill level or past accomplishments you’re considered to expensive to keep around. You better be part of the network if you want to stay around.