I just signed a 2022 SA offer for Credit Suisse. With Archegos, Greensill and other big losses, how concerned should I be about job stability? I know they’re still better than UBS and DB but is there a good chance management cuts down IBD and don’t offer many full time jobs? I’m just scared that the whole ship falls apart...
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The end is near
Are you generalist or a group specific offer?
Bump. Same situation here. My offer is generalist
accepted offer for generalist, wondering this as well
Morale will be very low there now (have multiple friends there) but probably wouldn’t sweat it as an analyst. Firm isn’t going anywhere, there will be battlefield promotions, etc
Multiple people are leaving firm wide - from what I’ve heard from friends. MD from tier 1 BB mentioned that the word on the street is that they might just sell the entire IB business in the US.
Oh shit. That’s not good unless they sell it to a IB platform that is a good fit with room for growth. Curious to know how that plays out or if it comes to fruition.
No idea if this is true, but it sounds like it could potentially check out. They tout themselves as an “asset manager with strong investment banking capabilities” or something. They’ve been focusing less on IB and more on AM over the past 3-5 years because they believe that that’s the key to the future.
Also interested in CS’s stability and the effect on return offer rates. I have NYC generalist offers for CS and RBC. Thought CS was a no brainer, but now I’m not so sure. Any advice on which I should take?
are you aware of if cs is still recruiting for non target and non diversity?
Not 100% sure but I’d say there’s some possibility...
I have a feeling that CS is struggling to get top candidates (top targets are probably turning them down for citi, BofA, etc) cus they’re such a basket case. My guess is that management is trying to do everything they can to retain talent or else the whole bank falls apart from a domino effect.
You're probably fine as an analyst but morale is still gonna be pretty low across the firm
Just wanted to add - I would still pick CS despite the recent circumstances. The risk as an analyst is relatively lower (as people have mentioned) and worst case scenario, let’s say something were to happen (which would take a couple months at least) - you would still be able to get picked up by another reputed bank given it’s brand presence in the states.
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