As an incoming 1st year associate, I've got to say that I'm getting fairly concerned regarding my future with Barclays. Just wondering how others are feeling, and if they're taking any steps to protect themselves.
I am unclear regarding rescinded offers. Does this happen often in IBD? If we've already received initial training instructions and are in process of finalizing background checks, does this convey a sense of security?
Thanks
| +294 | Looking to raise a Billion Dollar Fund - College Junior | 41 | 1d | |
| +265 | What to expect during your IB summer internship and how to secure the full-time offer | 16 | 8h | |
| +239 | It doesn’t need to be this way | 34 | 2h | |
| +152 | Career Bankers, Was It Worth It? | 51 | 2h | |
| +143 | Biggest gripe in IB: people with no balls | 39 | 17h | |
| +109 | MD Can’t Unplug | 32 | 4h | |
| +89 | RBC M&A vs PJT RSSG | 14 | 3d | |
| +81 | I FINALLY DID IT, I GOT A FT OFFER! | 16 | 3h | |
| +65 | Did I mess up by correcting my VP Publicly? | 20 | 2d | |
| +60 | BofA Assoc who died had sought to leave, citing long hours | 15 | 21h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Incoming analyst here. Definitely a big blow learning about Skip McGee's resignation today. However I haven't heard anything about Barclays scaling back the advisory part of its investment bank. Barclays' US operations make up nearly half of the entire company's profit, so I doubt any large-scale layoffs will be occurring at the junior level for us. Anyone else have thoughts?
I think analysts would be completely fine, wouldn't worry about it too much. Also, I think your concern would be warranted to contact HR and ask how this could impact the analyst class if any way at all.
Look as long as you are in advisory or equities you should be fine. The only people who should be worried are your peers in the FICC division (capital intensive with low returns). You have to realize the financial news/journalism category is similar with any other news category and profits off fears and sensationalism. When Paul J Taubman left Morgan Stanley in 2012, all my MS friends were quite fearful about the IBD's future. There was a big whoopla in the news (check Dealbook) about Colm Kelleher as a Sales and Trading guy taking over as Head of Investment Banking. Paul of course has done very well for himself since then while at the same time Morgan Stanley is performing consistently placing at the top of the league tables in 2013 and placing at #1 this year.
My point is just because a top officer leaves it is not spell automatic catastrophe. Many of the core relationships between company executives and bankers are vested within the Director or Managing Director level (as you know IBD is first and foremast relationships driven). I would say right now that Skip McGee has been an hero to many in IBD and has helped brokered many deals but the news media like to ignore that he had a detailed transition plan. When Skip was promoted as CEO of Americas in 2013 it was understood that he was stepping back from deal making role to one that was management related. John Miller, Joe McGrath, and Paul G. Parker are currently the ones that are responsible largely for large scale deal making and McGee did not spend 5 years building the Investment Bank to 'suddenly leave' as the media makes it sound like. My advice is relax - as incoming Analysts and Associates in IBD you have nothing to worry about.
Cupiditate dicta sit beatae sint et. Asperiores nobis autem inventore voluptatem alias quisquam. Illum eos omnis eum vero modi.
Quibusdam asperiores error cum delectus eligendi dolor. Cumque eos est sequi voluptatem perspiciatis blanditiis. Tempora fugiat qui sunt officia. Ut quia sed possimus maiores. Odit quo sint aut aut molestiae dolores.
Sit dolor nihil doloribus debitis maxime veniam velit ab. Ut aut totam similique autem consequatur inventore eos quia. Laboriosam deleniti dolorem autem error voluptates.
Magni iure mollitia similique et. Et qui rerum omnis. Sint deleniti et nesciunt quia asperiores.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...