Losing Our Jobs - Incoming 2019 FT Analysts

Question

With the 10-year rising, the yield curve starting to flatten, and major indices starting to tumble, what are the risks of the 2019 FT analyst class losing our jobs before starting in June/July 2019? Are accepted offers legally binding? What was the situation like during the financial crisis a decade ago?

Dr. Rahma Dikhinmahas · Accepted Answer

Sure.  I'll start with a settled fact and explain how I extrapolated from there.

Settled fact: IB associate needs have been nothing short of desperate for the last 1-2 years.  I left IB a few months ago (I was a VP) to join a small PE shop, but before I did that I was 'on the circuit' talking to recruiters and banks about a lateral IB move.  Between those interactions, and talking to my friends at banks, and seeing the recruiting activity at my own bank, it was extremely clear that a trained chimpanzee could get a an Associate job right now.

Now you say, analyst isn't the same as associate.

Dr. Rahma Dikhinmahas · Answer

Yes I think at all junior levels there is a draw away from IB.  Silicon Valley is the most obvious draw, and even with recent contraction in big tech firm stock prices, there is still all the prior years of growth creating opportunity for both undergrads and MBAs.  Also consulting has become a bigger draw because it’s sold to students as a launching pad for virtually any career and the popularity of startups has a lot of people saying “I’ll do consulting while I figure out what company to start.”

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Losing Our Jobs - Incoming 2019 FT Analysts

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Losing Our Jobs - Incoming 2019 FT Analysts

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