http://online.wsj.com/article/SB10001424052970203…
Not sure if that article will work as a direct link. It basically talks about bulge bracket pay taking huge hits. Do you guys see this as an end of an era of a BB being the ideal firm to work for?
I realize that this happened in 2008, but it seems like the world markets are taking hits right now, rather than a primarily domestic US market. And with that, I feel as though big firms could be hit much more drastically as everything they are exposed to seems to be failing.
I think this applies to more senior positions...you are not going to get 100+ hours per week out of an analyst for much less than 120k all in in NYC.
They are still pretty much the best place to start your career, along with elite boutiques. You get a great brand on your resume, and the decreased long term pay doesn't matter since you will be going to the buyside anyways.
I don't even think career bankers currently see BBs as ideal. If I were an associate, I would much rather work for an elite boutique or an industry-specific firm in a sector I like (e.g. Kippdesanto for Aerospace, KBW for FIG). Work culture at BBs is generally not great, which is more of a consideration if you might be with the firm for decades.
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