BB IBD SA 2021 Headcount Decreasing?
Hearing that some BBs are expected to reduce intern class size for 2021. Can anyone validate or invalidate this statement overall or provide what individual banks are doing?
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Does anyone have any info on whether EBs will be decreasing headcount too?
aren’t all the EBs (besides PJT) done anyways?
Not sure but even if they are done, I'm wondering if they took fewer than in previous years.
PJT, Centerview, Lazard
heard from a pretty reputable source that evr cut the ‘21 summer class size by a good amount
Weird, since they probably have a ton of Rx dealflow
this was for a m&a class which globally was probably supposed to be 65+, not rx
Rx bumped class from ~6 to 10
delete
is this just temporary or do you think will be long term past 2021?
..
Yeah, 2021 SAs will basically be the analysts putting in the work in 2023. The banks are way smarter than us, so they realize that and not underhire.
Jw why would 2021 be affected? Comment above is correct. SA2021 will be analysts 2022-2023, when this should be long gone and deal flow begins to pick up. Wouldn't SA2020 be more screwed?
That's the thing I'm curious about as well. Although, 2020 SA are the banks 2nd year analysts for 2022-2023 and honestly, 2nd year analysts are probably the best bang for your buck and are needed for all the dirty work, as the 1st years are still learning how to do the job and have little experience.
SA 2020 recruiting closed long before covid was a major threat so the numbers for that class are locked in. Add in the fact that there's no fair/meaningful way to distinguish between SAs in a virtual internship so a greater percentage have to be converted than a bank would typically like, they'll be left with a surplus of analysts next year so it's reasonable they'd make up for it by hiring less the following year. Purely hypothetical but it's a reasonable logic
I was thinking more along the lines of there being less deal flow between 2020-2021, in which case it would make more sense to hire less SA2020 interns. In which case, they're worse off than 2021+ interns
Any word on Houston?
Fuck. I was already picking out my Aston Martin
Cheers mate.
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