Are restructuring division jobs recession-proof? Do they work more during recessions? Does this impact on their bonuses?
We all know that lack of job security is one of the main downsides in Investment Banking. Banks don't have any problem laying off people when things go wrong. It is a fact that in recession periods there is a big uncertainty and companies hesitate to make big deals. But, shouldn't restructuring divisions have more workload and more clients than ever during recessions? Do restructuring bankers get bigger bonuses during economic meltdowns as they work more? Do IB boutiques hire new people for their restructuring divisions during economic recessions or they just move people from M&A to restructuring?
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