So currently it is 60k+10K signing bonus.
For the Class of 2008, I know Lehman is maintaining the above compensation. However, does anyone believe that it will be increased for Class of 2009 due to rent continuously skyrocketing in NYC?
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How much has it changed within the past few years?
If I were you I'd be happy that it doesn't go down. You're just taking good times for granted.
Be happy you're in the class of 2008 mate. Fully agree with trampledmonkey.
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you might be looking at the peak of the bell curve, the market was ridiculous and now it is ridiculous in a whole different way...bad way
agreed... the good time are def over
Would hate to start as a first year in sponsors or lev fin, those kids are f'd.
Oh sorry I suppose I should clarify.
I am graduating in May 2009, but I worked as a IBD SA at a BB firm this summer following my sophomore year, and I am returning next summer as well.
Yeah I hear that things will not be pretty in the coming years; however, haven't firms learned from over-hiring mistakes in 2000-2001?
What I am trying to say is do you think layoffs will be that drastic?
Guess I should look into a Restructuring group...
Why do you say so? Deal flow isn't going to stay like this forever...it's just going to take a little while for things to shake out. Either that, or something big happens and we go into a recession, in which case we are all f'd...
Yeah but my thinking is that when the shit hits the fan many companies that are levered up with need to seek restructuring and that would provide some deal flow.
I don't know just a brief thought.
Gotta hate this cyclical bs
If you assume thatbonuses for juniors are going to be consistent for analysts in all groups, maybe now is a GREAT time to be getting into lf...not doing a whole lot right now.
No, they haven't learned. When business is good, firms hire the staff they need to manage the large dealflow. You certainly don't curtail hiring and turn away business to other, better-staffed firms.
When business turns bad, you fire extra staff as soon as possible. This is not a "mistake," it is simply maintaining necessary staffing levels in good times and in bad.
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