Understaffed negative feedback loop?
Has anyone else noticed this problem where analysts and associates are leaving for other opportunities and so hours jump temporarily which leads more juniors to leave – including new hires that are thrown into the mess?
Our group was significantly better staffed just a few months ago but lost half the team for various reasons and have struggled to recruit since. We brought on a couple juniors but they both left as they were tossed into brutal hours as our volume doubled.
Anybody else seeing this happen?
I honestly feel bad for the seniors as they make an extra effort to maintain a good culture, but it’s almost impossible for them when they can’t find new juniors. Attrition rate increases are spiraling up and throwing money at the problem does not seem to fix it.
This happens quite frequently in organizations.
A senior manager leaves and the work gets shoved down tho junior. Junior staff gets overworked and boomers looks the other way
Not to sound like a bitch ass hardo or anything, but this is technically a positive feedback loop
It’s bullshit, it’s not hard to recruit 1st years. There are thousands of graduates looking for the move who don’t have a job or are willing to upgrade.
Not sympathetic to the seniors bc am sure that 70-80% of the work they are assigning is zero value add and could be cut down
Honestly, I’d be less sympathetic if it wasn’t live deal work. Probably 75-80% of the work was direct requests from clients to juniors on live transactions.
Wont dealflow slow at some point next year and maybe banks will need to trim juniors?
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