An1 Layoffs Frequency
What title says. How often do An1 layoffs occur? Do people anticipate them in the next several months for NYC in particular? Thanks
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Rarely. You are paid the least and work the most. Senior analysts and associates much more likely
Decent senior analysts make only a little more but are 2992x more useful than most analyst 1s
Id fire the latter before the former, but id rather not fire either
Times have changed, so it’s definitely much more common now than it was two or three years ago.
However, it’s still very uncommon as compared to senior analysts and associates. Realistically, for an An1 to be fired in this current market, they would have proven themselves incompetent, have a very negative attitude / very poor relations with their team, and be on a team that is performing very poorly. Likely it would be some combination of these factors. If you are in this situation, understand that banking may not be for you, your current team may have been an awful cultural fit, and / or you have other things going on in your life that are causing you to underperform. You have a long career ahead of you.
What if it was caused from your team doing very poorly on top of lack of work. I.e no revenue no business performing, etc and you were effectively working 40 hours a week but had no opportunities to prove yourself.
I'm in a team with similar situation. When there's no revenue and people are working 40 hours a week, then politics will determine who gets laid off. If the MD likes you then you won't get laid off. Finance has never been about merit.
I agree but not 100% true from my experience. I've seen so many AN1s fired at my bank (MM that's being shafted) after being on the desk for 5-9 months due to overhiring / downsizing. These kids don't have poor performance either.
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