Wall Street Bids Up Junior Banker Salaries in Battle for Talent - Bloomberg
Article mentions how banks are struggling to replace bodies at the analyst level and even loosening up their recruitment processes. Surprised given how many people in my semi target undergrad are still recruiting for 2022 FT and SA positions.
Is there really a struggle to find analysts to support dealflow in M&A?
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Feel like the article speaks more towards mitigating the junior burnout and turnover rather than attracting new talent. Obviously, increasing pay and other forms of compensation help banks stay competitive from a hiring standpoint. But there are costs from training and ramping up a new analyst every 6 months. I’d rather keep first and second years satisfied than have to hold the hands of new hires until they are up to speed (which can potentially slow down a deal). That’s what the past year has been about, since Covid and especially since the GS survey. Retaining the analysts that are effective at their jobs now, but don’t know how much longer they can stand the stress of WFH + record deal flow.
Unfortunate how they are not matching London/Paris comp to New York. I will be at a bank whose US offices are weaker than their Euro ones (you can probably guess) yet the US offices have higher comp
Probably because we’ve managed to defend against socialism (for now).
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