i am scared sitting in my shower covered in Sh1t and p1ss while Coldplay - Adventure Of A Lifetime music video plays on loop through the stained glass so I can still barely see it.
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Try to think with a glass half-full mentality. I remember back in the summer of 2020, we were starting to emerge out of a recession (although arguably still in one)
My group had 11 interns, and we gave out 6 offers
Yup, our group had 14 interns and we gave out 8 FT return offers
Both of these numbers seem low for BBs. My BB hasn't dipped below 95% return offers in years, and other groups I have friends in have had offers in high 80% range.
Also interns are talking about this recession like it will be 2008 again. It's important to remember the difference between a Coinbase/crypto firms and a BB. One of those is in a highly speculative asset class with limited revenue streams and zero record of turning a profit (not shitting on y'all crypto monkeys, but you had to have seen this was a possibility). The other is a diversified, cash-hoarding firm that has been through a million recessions just fine. Banks have been regulated to death since 2008 occurred, and for better or worse, are so well-capitalized now that they will do just fine in any market environment.
Record bonuses again? Unlikely. But this was a huge discussion topic in 2020, will return offers fall, and they didn't - because those summer analysts were VERY needed as FTs in 2021 and banks saw that coming. Your average summer analyst is not going to be impacted... low-ranked VPs may get axed, but SA22s who will be the ones doing the work from 2023-2025 are still very much needed.
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