Analysts, come back
Somebody recently asked here whether the analysts are still quitting.. My team has a huge problem, analysts are leaving in packs
Dont know if this is across other banks
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I’m here. Although I’ve had great WLB so far almost too much free time. Although most people would laugh at the “tier” of my bank so idk
What range we talkin? Like Cowen/Stifel or like SGCIB/BNP or what?
Unrelated but just out of curiosity is Cowen/Stifel considered "better"/more prestigious than SocGen/BNP?
Will the issue expand to associates come bonus time?
I think it depends just how big these Associate+ bonuses end up being. No one knows but going off the major increase on the junior side, these year-end bonuses may be big enough to get people to stay on.
Sucks to be a stub associate this year :/
My team had a bunch of analyst leave for various reasons (preferred group opportunities/ better pay/ etc.). I find it strange though that banks feel it is that "tough" to fill the shoes. With all the thousands of applicants who would like the opportunity, and the countless we turn down. I've seen groups turn down candidates just because its too competitive. Is it really that hard to replace and find a good candidate?
Yes to your last question. Ofc every bank could fill seats with warm bodies, but finding good analysts is really damn hard. And the fact is that a shit/lazy analyst os actually worse than having no analyst at all, so it’s a tough situation.
Yeah I'm sure it must be real fucking hard to find people able to punch some numbers into an Excel model and align logos on PowerPoint
When you say "good analyst" do you mean just someone with a good work ethic who is responsive or what? Or someone with a storng understanding of modeling, technical ability, and managing workstreams like an ASO.
I definitely agree, and a crap analyst is worse than no analyst at all. But I respectfully disagree its that hard to find good talent. Purely gentleman's argument, but I feel the issue stems from banks being too closed minded. I mean in this post we are discussing internal transfers, and that IS still very difficult. The BB I work with is Very siloed off making most groups uninterested in any "outside talent." For example, LBO is not necessarily a smoot transition to M&A unless you actually know the team your looking to join. Same with Credit risk to LBO, etc. Most are very transferrable and if its all under the same house, the training is the same, but managers just want something ready to "hit the ground running" even though that almost always means some oxbridge/harvard kid with 0 experience lol.
This gives me hope that I may actually have a chance of breaking into IB from credit risk if banks cant keep analysts longer than a year.
I was hoping that would ease up mobility too. Lol not so much. I cant even lateral through the same LOB to a different city.
If your bank is willing to sponsor H1B visa, I can show you 4 recs from an ex-employer: 1 Partner, 1 investment banking group head, 1 MD, 1 Manager to prove I'm a capable analyst lol...
Are you working rn or quit? You can try asking for a transfer to London and be brought back on L1?
Will never come back. Never. Was a part of the mass exodus from my firm/office/group. Great decision.
Where did you go?
your moms house
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