Finances

Having savings is crucial during periods of unemployment. I always prepare for potential breaks in employment, even if I usually find work within six months. To maximize my savings, I file for unemployment immediately. While some hesitate, it’s worth noting that filing increases future unemployment taxes for the employer—an indirect way to support your former colleagues.

I also cancel any unnecessary memberships while keeping essential ones that help maintain a positive mindset, like gym memberships. Shifting my spending from debit to credit cards provides flexibility, ensuring I can cover essential living expenses without stress.

For managing debt, I keep a credit card with 0% balance transfers. By transferring balances and setting up automatic payments, I avoid costly interest charges. If you’re currently employed, consider applying for such a card now.

Additionally, I make sure to enroll in COBRA or seek coverage through the ACA, as health insurance is vital during job transitions.

Planning

Initially, losing a job may feel like having endless free time. However, it’s easy to let weeks slip by without productivity. To combat this, I focused on both professional development and personal projects I had long neglected.

I created lists of skills I wanted to learn and home projects I wished to tackle. Although job hunting is a priority, balancing it with personal development significantly improves mental health and keeps motivation high.

The Job Search

My job applications primarily came from Dice.com, LinkedIn, and direct outreach from recruiters. Initially, I applied en masse with generic cover letters, but I later shifted my focus to quality applications. As I refined my approach, LinkedIn’s algorithm began suggesting jobs that matched my skills and salary expectations, leading to more targeted applications.

I don’t customize my resume for every position, but I do align my experience with the job requirements. This strategy greatly increased my interview opportunities, even securing multiple interviews weekly.

Recruiter interactions can be misleading. Often, they might suggest you’re not suitable for a role but claim to keep searching for you. I view initial calls with recruiters as screening processes, not definitive evaluations.

While I updated my LinkedIn profile to indicate I was job hunting, I avoided making a big announcement about my unemployment. The way one presents their job status can influence perceptions and opportunities.

The Interview Experience

The interview process has become more standardized, typically involving an initial screening, a technical interview, and meetings with management. While some companies still request take-home assignments, I prioritized interviews that aligned with my goals.

Salary Negotiations

In recent years, many employers ask for salary expectations early in the process, which can disadvantage candidates. I’ve experimented with offering a lower number to gain entry, but it often results in challenges during negotiations.

The industry has its biases, particularly against older candidates. During my search, I recognized the need to balance the urgency of finding a job with the desire for a fair salary. Living costs in my area didn’t heavily influence my decision; it was more about fair compensation for my skills.

Ultimately, I accepted a position with a slight pay cut, realizing that the time lost during unemployment could have far greater financial repercussions. Reflecting on my journey, I’m content with the skills I developed and the projects completed at home, making the experience worthwhile.