Summary.
Failure is a familiar trauma in life, but its effects on people differ widely. Some reel, recover, and move on with their lives; others get bogged down by anxiety, depression, and fear of theDouglas and Walter, two University of Pennsylvania MBA graduates, were laid off by their Wall Street companies 18 months ago. Both went into a tailspin: They were sad, listless, indecisive, and anxious about the future. For Douglas, the mood was transient. After two weeks he told himself, “It’s not you; it’s the economy going through a bad patch. I’m good at what I do, and there will be a market for my skills.” He updated his résumé and sent it to a dozen New York firms, all of which rejected him. He then tried six companies in his Ohio hometown and eventually landed a position. Walter, by contrast, spiraled into hopelessness: “I got fired because I can’t perform under pressure,” he thought. “I’m not cut out for finance. The economy will take years to recover.” Even as the market improved, he didn’t look for another job; he ended up moving back in with his parents.