If I expect to be graduating into a recession, how should I adjust my career path starting out?
Sophomore / Rising junior here, going to be an SA at a highly ranked BB in the coming month.
Not an expert by any means but I've read a lot of material and done the math wrt how long this cycle's been, and I would like to prepare myself for the possibility I will be graduating into recession territory, given I have 2 years in school left to go.
I'm not terribly concerned about being unemployed, as I have a decent profile, or at least I can do an MSF to lay low for a while. What I am trying to do is to do my best to prepare for what may be a down season for some industries/products and a good time for others.
So I know restructuring / special sits will be big. But apart from that, which areas in finance will be good to jump into at the outset of a financial meltdown, or at least won't be affected significantly by one?
You're going to have two BB summers under your belt and you're seriously worried about this?
You are incredibly shortsighted if you don't think this is a legitimate question. It's ridiculous how short our memories are.
If this turns out to be a good discussion it could be very fruitful. I started work right during the M&A boom so I had it lucky, but those who started in 2008 faced a fundamentally different market/recruiting mentality. Kudos to OP for being one of few Sophomores who must be thinking about this. You are a step ahead, man.