Feeling more political toxicity in my new firm
Ignore my title.
Worked there for 2y, was at another bank for 4y. My current firm has hired some useless seniors from another bank 1.5y ago and the head basically brought in 20+ of his MD friends across the whole IB.
It just feels so toxic that these so called heavy hitters have generated 0 deal after joining. We are in the EFL Championship to begin with but you cannot imagine how these external hires were making millions talking how baller they are while generating 0 revenue.
Internally we are having weekly, biweekly and monthly meetings to discuss across teams, geographies, products, sectors on why we are not getting this deal that deal, why is our fee so low, etc. What is the sector or product strategy, etc.
Everyone is busy on pretending they are doing something. These lateral MDs were just whipping people daily in internal calls instead of originating.
Is this common at other IB? I don't know if this is the industry I want to spend my life and develop my career.
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