It looks like Wall Street hiring is back on the rise. Bloomberg reports that 6,800 new finance positions were added from the end of February to May, the largest three-month increase since 2008.
Morgan and our favorite Government Sponsored Entity (Citi) are looking to restock monkey shelves, while Nomura Holding and Jeffries Group are looking to the play the role of poacher in luring some top talent onto their squads.
Now that the financial overhaul has been finalized in a less apocalyptic version then some of us feared, companies are apparently ready to start consistently hiring again. Heck, people are even getting multiple offers, might capitalism still have a few breaths to take?
Apparently firms are paying 30 to 40 percent more than bankers are expecting to lure them to New York. Now, are they really offering more duckets then before or is that "30/40 % > NPV of current unemployment benefits"?
I am not so sure.
One thing seems to be highlighted, the nice perks and guaranteed bonuses are things of the past, specifically for the younger crowd. So hail yourself a yellow cab and pack that&J. More monkeys sharing the same sized banana crop could yield status deflation.
In related gossip, high school dropouts slinging brake-less Toyotas in Rockland County were seen chest bumping and giggling like Anime teenage girls at the news.