Is IB no longer worth the grind? WTF are these comp numbers?
After a really good year fee wise, banks seem to be paying significantly lower than expected across the board. WTF is going on?
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If there are hundreds trying to get a job for every seat then economics says you are overpaying. People would do it for substantially less
Hundreds or thousands?
Think there has been a shift post ‘21 and it will not go back. Not the first time it has happened either obviously (‘01 comp, ‘08 comp relative)
Pay for juniors will continue declining. Banks are realizing they can pay peanuts and thousands of people are happy to lap up these roles.
Boutiques still pay reasonably well because they’re smaller and the bank’s success is more contingent on the talent of their people.
This has been the case for like 50 years...there are always people lined up
Market is figuring it out. Pay will decline until enough people keep asking this question and avoiding the industry. Not happening yet because people drawn to IB are pea-brained psychopaths.
Seems like banks are figuring out that paying people absurd amounts of money for doing the job a monkey could do wasn't a smart decision....
Nothing is worth the grind anymore, the only way to make a lot of money without a massive time sink is to take a lot of risk, most people are pussies tho.
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