From my in person conversation it truly seems like there's a mass exodus from the main functions of the financial industry in banking / private equity / hedge funds and the like.
What are people seeing these days? Are the shifts overdramatic or a serious wake up call that groups are getting left stranded.
Personally I've seen more people leave the HF / PM side in the past year than any year in the last couple -- whether it was hitting a financial goal, making time for family, or just getting burnt out.
Curious to hear what the apes have to say.
Haven’t seen this at all on the buyside. Quite a few friends and colleagues (PE/HF) have moved firms over the past year, but I don’t know any who’ve left the industry altogether recently. Interestingly, maybe selection bias, but I’ve known a lot of HF guys moving to PE recently (or trying to), less the other way around.
Banking’s a different story - I’ve heard firsthand stories of analyst classes where almost the entire class is out before 2 years, though I think it’s less pronounced at more senior levels
Fair enough, I'm not as connected on the PE side. PMs at macro shops have been leaving pretty consistently.
Banking it makes sense I guess, older guys don't want to leave because they can't really move elsewhere, younger guys want to leave because it sucks.
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