Rothschild return offer bloodbath
Return offers being given right now and it’s looking like 40%… what does this mean for other BB/EBs?
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lol i dont think this means anything for EBs or BBs
Rothschild was a massacre today
Is 40% true?
Hearing 30%
any commonalities between people who got shafted? was this a complete surprise or could it have been a weaker intern class in general?
Which location?
This was for nyc, spoke with a friend starting fulltime there this fall and he's already worried about his bonus as they were shit this year. Firm has tried growing too fast, intern class before was around ~30, his class ~50 and this summer was ~65 while base also increased from 85, to 105, to now 120 over the same time period and obviously fee generation has not grown in line with that. Sucks for analysts who got shafted on their bonuses as well as interns who wont get a return
55% return rate in Rothschild nyc (summer 23)
delete
group dependent ?
Bonuses also not good. 30k mid-bucket in NYC. M&A. Firm is suffering
Where did you hear that? I have a friend there and his was not nearly that bad, for mid bucket. Think at least 50k, but he didn't say an exact number.
Had another friend at a different bank who got 40k midbucket, and my Rothschild friend said that his was not nearly that bad, even as midbucket.
I don't think the company is doing bad financially per se, but they have trying to grow to fast from what it looks like.
30k mid-bucket for An1 is correct
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Can confirm, total bloodbath. 35% for analysts and 15% for summer associates, (if you were a guy you were way worse off). Internally the firm is suffering really bad, Rx co-head left, M&A teams have barley closed any deals this year. In addition, they dissolved the M&A group and the sponsors group during the summer, M&A group didn't have enough to do, they decided after 2 years that investing in sponsor coverage wasn't worth it.
Both RX coheads left according to Bloomberg. The other one is staying at the bank, but Bloomberg says as a “senior advisor.” Bbg saying they’re looking for external replacements.
Having a dedicated M&A group also seemed like a strange idea considering they typically do M&A in coverage.
Can you elaborate on the M&A team that was disbanded? Are you referring to the fairly newly formed M&A team that works across verticals?
Based on what I’m seeing & hearing (several of my friends are VP/Dir/MD at banks and we’re working with an EB right now on a process), return offers sounding bad everywhere and it’s not a good year to be pale & male.
RBC gave out a high number, pretty much the same as last year. Know of at least one group at GS that did the same.
Work there and can provide some insight. Combination of bad quality interns, market conditions and group needs since there is a large 2023 class
Can you elaborate on bad interns? What was the rate?
What were bonuses #’s as interns aren’t right
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