William Blair Update
I see that William Blair has a ton of jobs posted. I’m guessing teams are busy again but how it the morale?
Would you apply after the layoffs and bad comp in recent years? Is Blair hiring back any of the stronger performers they laid off?
Based on the most helpful WSO content, William Blair has been through a turbulent period recently, marked by significant layoffs and dissatisfaction with compensation. The layoffs were reportedly ruthless, with 10-20% cuts across the board, and up to 30% in tech, healthcare, and ECM groups. These cuts disproportionately affected associates, analysts, and VPs, with very few senior-level employees impacted. The layoffs blindsided many, including respected performers, and left remaining teams overwhelmed with additional workloads.
Morale appears to have taken a hit, as the layoffs contradicted the firm's long-standing emphasis on its strong culture and private ownership, which were supposed to shield it from such drastic measures. Employees and observers have expressed frustration, particularly as the firm had previously expanded aggressively during a market boom, only to scale back when conditions worsened.
As for rehiring laid-off strong performers, there’s no specific mention in the WSO threads about Blair actively bringing them back. However, the fact that they are posting numerous job openings could indicate an attempt to rebuild or address current workload pressures.
If you're considering applying, weigh the potential opportunities against the recent instability and morale concerns. While the firm has historically been known for its strong culture, recent events may have altered that perception. It might be worth reaching out to current employees or alumni to get a clearer picture of the current environment before making a decision.
Sources: William Blair Layoffs?!, William Blair Layoffs?!, https://www.wallstreetoasis.com/forum/investment-banking/william-blair-is-paradise?customgpt=1, Your thoughts on William Blair & Company?
Heard there’s a lot of openings at the ASO level because of turnover. Not a great sign
heard chicago culture is shit
Morale very low but bank is performing well
Why is morale so low then?
Long hours, bad pay, longer hours
I would think long and hard about how poorly managed their firm is, you can do everything right and have your career ended by their wildly incompetent senior management team. Would prefer to work elsewhere that has a modicum of foresight haha
Former insider here - morale really varies by group and so does culture. HC & Tech are so massive that there are dedicated subverticals hence the morale question becomes even tougher to answer.
On the whole, the Chicago office gets grinded and has had 3 years of below market comp esp. at the ASO level. If you’re thinking of lateraling to WB as an ASO, I would say please reconsider unless you’re dead set on Chicago. Also, be very cognizant about groups - Consumer is for example notoriously sweaty, Tech more serious than others (still great people tho imo), AGDS are absolute chillers although they don’t sit in Chicago, I haven’t interacted much with the Industrials guys but from what I hear people are dropping like flies and morale is nonexistent.
Agree w/ all this. And mgmt is completely detached from the situation at the analyst and associate level that continues to get worse as more people leave mid year
Know some of the people that left the consumer team, it is extremely toxic and sweaty. Average tenure is less than a year at that group, just check LinkedIn.
William Blair has turned itself into a joke. Would never work there
How did the firm go from being the best to absolute dogshit??
Recently left, my view is partners got greedy and needed to get paid back for especially bad last couple years at the expense of the junior team as they viewed us as replaceable. Issue is lot of people left, remaining analysts and associates not happy and not paid for staying, we have not had good success lateral recruiting or even hiring interns given our reputation across the street as a result so it is a negative feedback loop. Depressing so got out. Didn’t see it getting better
I left a few months ago as an associate. Honestly, it was one of the toughest environments I’ve worked in. The pay is average, but the hours and expectations are extreme — think 9am to 3am, and if you’re not constantly online, it’s held against you. Even taking PTO was frowned upon unless you were still working. It wasn’t about quality, just how much you could crank out.
The culture was easily the worst I’ve seen. I’ve worked in very tough places before, but never anything this toxic. Upper management doesn’t hesitate to cut people right before bonuses or promotions either. I’d think long and hard before taking a role here at the associate level.
Lateral associates across various groups often cycle out within six months, largely due to a lack of support and protection for junior team members. Confidential feedback shared with HR and talent manager will go straight to senior bankers. The environment is highly political, and it ruins a lot of people's careers. Associate and analyst would quit with nothing line up.
Think this was pretty consistent throughout most groups. I was there for a few years. You will learn a lot, but it's definitely a rough place to be. I personally worked well with the people there, but just want to provide a honest feedback for anyone considering WB. There was a big shift in terms of culture when I was there. Still recommend it for an analyst to do their 2 years and out, would be a little reluctant if you're joining as an associate.
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