are there even enough open jobs for all these laid off investment bankers to fill
There are not many open roles in corporate dev, PE, corp strategy etc. same with IB roles.
where will all these people go?
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While things haven’t gone completely to shit they’ll probably go to the other normal outcomes - pretty good corp fin roles like FP&A or a financial analyst role with some elements of M&A work, could try certain types of consulting, might go down market at smaller banks, accounting, or they might try building their own startup if it’s super hard to find a role for a bit. In that I think there’s enough roles for most people here that got the boot, it’ll just be with a lot less money but that’s just how this sort of thing goes
If it gets really bad, judging from what some of the older folks have said about 2008 (which I should stress I have seen no one say this go around will be as bad as) you basically just took whatever you were lucky enough to get
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