Long day at work. Having been received a ton of cold emails, primarily from people from all kinds of background wanting to get in IB. I'll leave the industry in June for good and firmly believe a sharp decline is underway. We may see massive layoffs in coming quarters with stagnant deal flows.
Strangely, many people with a ton of good experience in other sectors want to join the party just now. What are your thoughts?
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Maybe, just maybe, your expectation of massive layoffs and stagnant deal flow are unfounded?
I agree, nothing compellingly evidential. But most quarters following recession events will yield hyper number of deals and what’s next in turn is logical.
I don’t think the industry will struggle in long term though like some other people ( due to automation or else)
BB's with the onset of AI in the coming years will naturally cull a majority of the weaker performing analysts, so yes.
I think you seriously overestimate the pace and the ability of large scale institutions (that are not FAANG et al.) when it comes to AI. It and machine learning have become buzz words that people with very little knowledge about either employ to sound as though they are using the latest and greatest technology. Standard automation is a far more fearsome opponent for the banking industry and headcounts in general, though this should have less of an impact on FO positions.
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