How often analysts get fired
Just curious under what circumstances would PM fire an analyst? Such as too many wrong calls?
Just curious under what circumstances would PM fire an analyst? Such as too many wrong calls?
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assuming you are base line competent and not phoning it in, analysts get fired primarily for one of two reasons:
1. PM got fired and the team got canned (applies to MM/pod models)
2. PM just doesn't like you - could be he's dissatisfied with how you're contributing to the team (which is subjectively defined) or personality (again, subjective)
it's pretty rare to get fired for "real" reasons because as an analyst, you're not responsible profit, nor are you responsible for losses.
if you're gonna get fired as an analyst it should usually happen in the first 12 - 18 months when it becomes clear it's not a good fit (or you leave on your own).
for case no1, can the analyst be repositioned with another pod in the same firm?
seems like a coin flip. if another pod has an opening and you are an OK fit for it sometimes happens. more common when you're junior. some firms (C, P72) seem to do this more than others (M, BAM) but this is anecdotal - i dont if there's an official policy nor what individual circumstances are
It’s mostly if you suck and aren’t performing. You might have really shitty ideas, aren’t “getting it”, or just are way over your head.
I’ve seen numerous juniors fired for blatant insubordination. So many 22 y/o kids out of top schools making $250k+ TC think they are hot shit and don’t listen to PMs and try to “do things their own way” even though they literally have no clue what they are doing and haven’t made a dime of profit in their life.
Considering the comments in this thread it sounds like the average PM's "own way" isn't worth much either lol
https://www.wallstreetoasis.com/forums/in-reality-what-does-the-process…
Hah in literally every part of high finance (hedge funds/ib/pe) the "getting it" aspect is the least talked about but arguably the most important. I actually think it stems from not listening and reading every situation you're in. If you can't know when you should speak up, shut up, or just take verbal cues from people in various scenarios, you'll be pegged as the guy who just doesn't "get it". This separates you from everyone real quick.
Do people really get fired? Or do they just get incredibly low bonus? I was under the impression of the later. Firing can be a pain.
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