Would there be any banks that are known for having a low turnover rate?
I'm aware that it would "depend on your fit with the culture", but numbers wise, what would be an example of a bank where people want to stay in after 1/2 yrs?
Turnover rates for:
BB -
EB -
MM -
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| +22 | MM bottom bucket bonus | 9 | 12h |
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Look for banks with shitty exit opportunities or good hours (there is a high correlation) if you want to find banks with low turnover. Would also guess that boutiques which are highly industry-specialized would have a lower turnover as people who join tend to be very interested in that specific field while your typical kid at GS Healthcare couldn't give two fucks about healthcare.
Above is correct. BB/EB/MM are not materially different especially at junior levels... it's not like MM attracts an entirely different group of people than BB, people take the offer they get.
I'd look at boutiques/lowest of LMM IBs with decent hours. These are often run like one or two partner's business and they don't want to work until 3am and clients don't expect it - hence juniors not getting killed on hours and lower turnover
CVP probably the exception to the two other posters’ points—they seem to retain pretty well despite long hours and solid exit opps
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