Will we ever return to the glory days (08/09)
Will we ever return to the glory days of banking? It seems as though this is impossible for bulge bracket firms considering all the regulation. But what about independent advisory shops?
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09…?
The world was literally melting down in the second half of 08 and into 09
Seems like people are pretty well compensated these days, market is on fire, what else are you looking for?
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Rx ones did haha
What did he say
you're as close as it's going to get right now and don't expect it to last.
my bonus number as A1 was 150% base. and i concur. to me it seems like the final act before everything goes to shit.
You're senior enough now to live by the 'spend your base, bank your bonus' mantra. I mean, sure, if you want to spend $5k of your bonus on some stuff for yourself / partner / family but I tend to live by the 'expect the worst, hope for the best' when it comes to banking. While I hope it doesn't happen, the stock market can lose 20% and STILL not look crazily undervalued but that would for sure kill momentum in banking.
I think this is what is making the job not so fun. Other mania times ppl were expecting a new normal and bonuses would be sky high and growing forever so they were ok splurging. Now everyone seems to think comp will stagnate or revert in the near term
The best hope for wage growth is structural changes in the labor markets
It's never going to happen again.
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