Ok so for those who are starting at Barclays US, is there a reason to be worried about the bank not being able to mend itself and get back to where it was. I know they are releasing a strategy announcement in February but what are the monkeys saying?
will the current shitshow affect analyst development and career progression
Ideally anyone at the firm with some insight would be great
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Bump
It doesn’t look good. They have said they are trying to reduce their focus on the IB division.
Dude yeah although I read somewhere the new leadership is looking to grow US investment banking, so much contradiction of information
Bump
Alright, I am writing partly to get more clearer with my thinking and careers as well as it serving as a guide to others.
Don’t ask me which team and location, broadly Barc in the US
A few key themes are emerging as I reflect on the changes in the past year,
1/ Barc will never be the same (2/3 years back) shop as it was then, not going to waste any more time explaining the talent drain, but it’s very real at the top and the consequent domino effect on talent at VP and ASO, good ones left, period. Some groups still managed to retain a few good ones (industrials) but most groups are gutted…
if deal activity doesn pick up or Barc does win some, will lead to Bad bonus and another round of talent flight
2/ the current IB management sucks, puppets sucking up to London hq… more interested in keeping their jobs than fighting for their juniors’s interests
3/ what does this mean for juniors (A&As)
For analysts, depending on team, less deal creds to show when it comes time for PE recruiting, recruiters not giving the same respect as before
When you start, looking out for yourself, get ur skills in place, get staffed on whatever live, and get the fuck out…even if you are top bucket (just be focused on what you wanna get out of this place and nothing else, won’t reco for AtoA promote also)
For ASO, similar advice, with a twist, don’t wait for the 1st year bonus, upgrade at the earliest, before you end up like those poor CS ASO… stuck with no creds
For those who think Barc is an upgrade from your current firm (yes, am talking to you those lower MM, MM firm ppl) come here only if you have no other option, sitting at where I am (after receiving a good review) I can confidently say I wish I were somewhere else.. tick tock before I quit
Happy Holidays!
Update: I just read seniors want to delay the bonus decision and announcement to rein-in on talent flight..
A bit sad to read this as an exBarc, but the place was never that great to start with, Bonuses were always terrible, but yeah the Lehman guys did push back against London HQ
From what I hear, vibe is certainly negative,
Cut bait is the consensus
What coverage group is best to get experience and get out?
Industrials from what I head
Congrats on Barclays Atlanta!!!
Eh?
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