My entire class wants to stay in banking?
Title poses my curiosity. Is banking as a final destination a trend in other groups classes firms?
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A2As or even third year analyst offers weren’t common. In down times, firms still want to recruit MBAs and there are just fewer spots given the pyramid structure. I think the culture shifted back a bit over the past several years to using common sense - i.e. a trained monkey is better than an untrained ape Day 1. Really supply and demand, and how much is the floor volume of MBA recruiting.
Post GFC years - nobody used to dole out A2A promotions like showering a stripper with dollar bills.
In 2021, ~30-40% of our analysts firm-wide went a2a. By far a record number in the firm
It's because a few years prior to that, IB analysts had to work 5 days a week from 9 am till their work was done at most firms. There was no wfh past 8 p.m. The job has gotten a lot more manageable when certain banks are 3 days in-office, and most banks allow analysts to wfh past 8 pm or even earlier.
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