Criteria used to layoff Associates?
During the downturn, ive noticed that many associates got let go after a couple years
What criteria do you think people use to layoff associates? (perception....prior analyst experience....prior relevant experience....potential to climb the ladder and bring in deals....type a personality...looks...etc?)
i want to know too ..
because everyone is probably from a good school, smart, hard working, etc....and most sr bankers dont really get to know associates too well, which makes me wonder what criteria is used
I would assume that the persons communicating the actual "performance" of the associates to the ones making the decission should know the associates pretty well.
From those I've spoken with, it is personality. Many nerds can break into banking as analysts and even associates, but to progress you have to be a salesman, a glad-hander, someone people want to be around. Often, those personality traits are mutually exclusive and, while many can be taught/learn the technical aspect, you can't teach social skills (and if you try it will be noticeable).
i think banking is good as an analyst cuz u can leverage that to do other stuff
banking is bad as an associate unless u got the personality. if u dont have the personality, you are just setting urself up for failure and a layoff
with personality, i dont think its just pure being 'type a'
u need more than just a "type a" personality......u can be nerdy and be a good banker if are good with networking, trustworthy, thick-skinned, building relationships, mature, ability to hold a conversation, professionalism, aggressive, ambitious, etc.
A friend of friend managed to land a gig in energy trading at Citi in 2008, only to be laid off at the end of the year because he was "last in, first out".
I guess they didn't see him as a LIFOr.
http://instantrimshot.com/
Ipsa et libero qui molestiae similique et porro. Animi quia et sint. Recusandae voluptatum sit vel odio numquam non quo.
Reiciendis et possimus voluptatem qui beatae esse. Quo in accusantium exercitationem consequatur deleniti magnam. Veniam est magnam qui praesentium libero. Nulla quod ut odio aliquid impedit fugiat veniam. Similique dolores provident esse reprehenderit consectetur. Molestias totam provident aliquid quam dolor.
Mollitia totam vel nihil quis maxime perferendis et. Et in repudiandae totam corrupti sit tempora. Explicabo deleniti ut veniam architecto pariatur. Aspernatur nesciunt fugiat ad aut rerum in.
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...