A sample of 45 women managers was surveyed in a qualitative study to explore their experiences of being unemployed. The sample was purposeful, and the data were collected on a website-based survey. The experience of unemployment for female managers was far different from what was previously presumed from research largely drawn from male managers. In this sample, 40% of the women managers were bullied, harassed or victimised out of their employment. Jobs that were taken at below the respondent's level of competence had the most negative emotional outcomes for respondents. Explanatory models of affect (positive and negative) were developed and the paper explores implications for career counsellors faced with competent, mature women managers searching for employment. (Contains 2 tables and 3 figures.)