• Sharebar

With all the recent analyst lay-offs, can someone tell me why analyst X can lose his job but analyst Y can keep it? Assume they are both 6 months into an IBD role.

Would it be things like the classification of your degree or the fact that you have a science/arts degree instead of finance?

Or does it come down to who you know?

What are the key criteria that decide who stays and who goes?

Comments (14)

  • b4f's picture

    Why torture yourself like this, seriously...all you can really do is do the best job that you can across the board and hope for the best. I have a feeling it can be pretty arbitrary in the end and the rest should be pretty obvious

  • b4f's picture

    Thats just my opinion on the situation. Honestly, what do you expect to hear? Who does better work? Who has better relationships with the right people. Like I said, its fucking obvious.

    My point is, be the best analyst that you can be, theres no point in worrying things that are out of your control, especially in this industry. Everything that you can do to enhance your chances of NOT getting canned are part of being the best possible analyst (ie efficient error free work, thoughtful insight, and solid networking internally). There's no secret formula and ultimately, the choice might be made for some BS reason.

    Networking example - obviously some product groups are getting hit worse than others. Guy I know was in cash cdo's but knew some people in another group pretty well. Instead of getting laid off like other people in his group, he was transferred internally.

  • In reply to b4f
    transatlantic's picture

    x13 wrote:
    Like I said, its fucking obvious.

    Indeed.

    Just as banks (try to) hire analysts based on how good they are, whether they've been able to network themselves into an interview, whether it seems you could have a good relationship, etc., they fire analysts based on how bad they are, insufficient networking, poor relationships etc. Except now they know you a hundred times better.

  • dosk17's picture

    Obviously, nothing to do with what your college major was... that would be silly.

    Generally people who are the most busy and best workers will be kept around (this is at the Analyst level where you have to be a worker bee). Sometimes relationships can play into it as well, though even knowing someone powerful won't necessarily save you when the time for layoffs comes.

    Sometimes entire groups will be laid off and you can't do much about that... so not worth worrying about.

    Bottom line - if you want to be kept, make sure you do great work. And as long as your entire group didn't get fired, you probably will be kept.