Sketchy Thing on Linkedin...Banks Screwing Analysts? (DONT SKIP!)
As I browsed through investment banking analyst profiles on Linkedin, I noticed some of them do 2 years in IB and then suddenly they "transfer" within the bank to "strategy consultant" or "commercial banking portfolio management."
WHAT I DID find really strange is after the 3 years, (ex: July 2017-July 2020), their careers end. Is this a sign of banks laying off 3rd years? Bad performance?
Are Banks giving chances to them by giving them "other jobs"? Just seems weird, I dont know if I am not catching on to some "hidden"thing
Freaking out..
bump
Can you provide SS with any personal info redacted? Hard to comment...
This isn't anything new or suspicious. Bigger BBs like JPM will not fire you if you're a bottom bucket analyst, you'll usually just get re-seated in a non-IB role. So yes, it's the bank essentially laying off 3rd years.
Does this happen at the end of the 3rd year OR the beginning?
For example, if someone started in June 2017, would they be "reseated" to a non-IB role in June 2020? (assuming you are bottom bucket)
Wait I just thought everyone who voluntarily sticks it out and doesn't exit gets A2A if they want it? I'm confused is this not the case? I've never heard of laying off 3rd analysts before or moving them to non-IB role...a non-MBA associate seems like an easy win for the bank in terms of costs/training even if they are bottom bucket.
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