Is this a good time to join IB?
Going through a few processes at the moment. Given the downsizing in banks, does it make sense to enter IB at this stage?
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Why does it matter if banks are downsizing or not? Basically every firm out there in most industries is downsizing - does that mean you shouldn't join any firm because of it? You're basically asking a question like if you are a programmer/software engineer, should you not join a tech firm because of all the layoffs. Question doesn't make sense.
What you should be asking is what's your long term goal? Where do you want to be in 3-5 years? If investment banking sets you up to help get you to where you want to be, then that answers your question. Markets go through cycles - same with your career. There will be ups and downs, you'll get laid off unexpectedly or your firm/fund will go under at some point in your career. Just accept that it will happen at some point.
IB gives you so many exit opps (check out 7 Best Investment Banking Exit Opportunities). It's the #1 industry to start a finance career in my opinion cause you gives you flexibility to figure out what you want to do.
Is this an ad?
I mean, Investment banking is one of the 8 best finance careers, according to buysideinsider.com!
Thanks. I currently work in a family office doing investments. I am pretty much guaranteed job security in my role as many people have left the firm. So while I don't disagree with you that moving over makes sense if that's what I want to do long term, I have doubts about the timing of the move.
That's helpful context. But it is always a good idea to look at what is out there and interview for an IB gig. Most banks haven't really done any major layoffs relative to tech. Sure, some banks have come out and are cutting ~5% of their workforce like GS for the first time in years, but that's mainly because everyone paused layoffs post COVID and have some fat to trim. The banks are still doing pretty well overall - especially the large bulge brackets like JPM/BAC/GS/MS that have different lines of businesses.
Even some of the smaller "elite" boutiques have said that they have no plans to scale back and continue to invest in talent. You can check out the full list of layoffs by bank, most backs aren't really cutting that many people. So doesn't hurt to keep interviewing at shops and see what opportunity lands at your feet.
yeah if you're interested in it and want to do it long-term
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