I just started as an analyst at an mm bank. So far after speaking with the first year analysts, it seems that a good amount of them are leaving after they get their bonus. How common will this be across other mm, eb, and bb? Seems like majority of the analysts don't even want to stay past their first year and if they do they're trying to lateral to bbs and ebs.
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As far as I know - All of our analysts are quitting after bonus.
are you at a mm, eb, or bb?
First years included. Or just second?
Likely. Cannot confirm 100% though. I know 100% 2Y and 3Y. MM.
Pretty much a rule of thumb you quit when the bonus fully clears the account
Yeah but for second years not first right?
I'm for sure leaving after bonus
To do what?
Corp strat
Well if 1st and 2nd years along with associate are leaving, I feel like the remaining analysts/associates will be crushed with more work.
snowball effect. remaining analysts will probably also quit unless they get fat retention bonuses
I’m at a BB and the amount of analysts that have left in the last 2 months is crazy. I expect the vast majority to be gone after bonuses this summer. I’m also at a bank that didn’t do any raises which really pissed a lot of us off
Barclays?
You’re anonymous btw if you felt uncomfortable saying the banj
which BB? you're anon already so hopefully you can share the name of BB
i'm guessing citi since no pay raise
Looks like banking will forever be a shit show
Once August hits and my bonus clears, I'm in coast mode until I get fired. Literally half assing shit until they lay me off.
funny thing is you can be coast mode and still get promoted since they just need heads
not an hour above 40!
All of them. Every single person below VP on Wall Street.
I have been coasting and spending half my day networking and looking for other non M&A jobs.
This job SUCKS
What types of roles are you looking at?
at least you have the motivation to network and job search haha
i'm trying to get myself to network but damn i'm lazy
Lol I feel like I made a terrible mistake taking this job
Literally everyone
At sweatshop group in mid-tier BB, every an1 is planning to leave
And do what? Seriously. If you work your ass off to get a job in IB to do PE or something else that doesn't open without two years of experience, doesn't quitting feel like a waste? I understand its a sunk cost but where is everyone headed to after year 1?
Mix of corp dev, MBB, mm HFs, startups
is it Citi or nah?
You literally could exit to any job after 1 year BB IBD (outside of perhaps the structured MF PE / HF which recruiters handle).
even 1st years can quit and get into corp strat / corp dev / corp fin
literally no incentive to stay unless dead set on PE/HF imo
Hearing Razzle La’Croch holding up well with only 1 of 16 analysts in Baltimore office leaving
ideally after bonuses clear on aug, but if shit happens might consider earlier
To do what?
ASAP as soon as bonus clears. Bitter towards useless Associates and lack of communication by VPs. Sick of doing the work of an Analyst, Associate, and VP while getting paid at Analyst levels while being told lateraling to another group in the bank would be “detrimental” to my group. Something is structurally wrong with the team when losing an Analyst in the group will screw it up.
Got my network, learned a ton. Nothing more for me in this job anymore except becoming comfortable with the idea it will literally and metaphorically kill me over time.
are you at a bb, eb, or mm?
Was at MM, now at BB. As much as I dealt with typical IB bs at MM and a variety of skillset levels, there was a great culture. Having the previous experience has made it easy to recognize how weak my current team is - technically and professionally
Was at MM, now at BB. As much as I dealt with typical IB bs at MM and a variety of skillset levels, there was a great culture. Having the previous experience has made it easy to recognize how weak my current team is - technically and professionally
Was at MM, now at BB. As much as I dealt with typical IB bs at MM and a variety of skillset levels, there was a great culture. Having the previous experience has made it easy to recognize how weak my current team is - technically and professionally
Well hopefully this will be a wake-up call for the mds. If this won't change anything idk what will.
As soon as bonuses hit, maybe before since that may not be until late August. Hopefully can find something that will even partially make me whole. Know at least half of my class is looking to exit post bonus.
are you An1 or An2?
Money isn't worth it anymore
All of them
Anyone have an idea about how this could affect incoming analysts? More work to do?
For sure lol
It's been getting worse with time. Banks don't realize they are fighting against negative momentum.
It's gotten a lot worse with Covid as WFH SA training is not the same at all as SA training in person.
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