Do we all get sacked during recessions?
Title says it all. I was 12 when shit hit the fan in '08/'09 so please enlighten me. Is there any activity going on during a recession? If not, is anyone getting nervous/ looking to jump ship?
No. If you were 12 you're an analyst or associate now, you are the absolute last to go since you do all the work. There is plenty of work in a recession - struggling companies need strategic advice/debt issuances, and strong companies start looking for cheap deals. I would budget for a lower bonus, try to save a bit more of your base wherever possible, but IB is not likely to see mass layoffs of juniors.
VPs are first to go, since they neither do the work nor have the relationships. 08/09 was also an unusual recession since the banks caused it.
Do bank still hire new analysts? Graduating in 2023 and with the threat of an imminent recession I would appreciate some input
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