- Cuts would be across regions and take place in next two weeks
- Bank's fixed-income trading revenue dropped 42% last quarter
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GOLDMAN SACHS CFO: We're cutting back in trading too ― we're just doing it quietly http://www.businessinsider.com/goldman-is-making-fixed-income-cuts-too-…
What does it mean for MS FI SA next year?
worked in MS but in another part of the firm as an SA. They over-hire like crazy for Fixed Income summers. It's an absolute bloodbath when giving out offers. Less than 50% would be my guess.
Is that over hiring? Did they ever say that an internship means full time offer? If they gave everyone an offer then would there be any incentive to try?
Be in the top half of your class. Don't give them any reason not to give you an offer.
Compared to other groups within financial services that is pretty low. And over-hiring interns for a shrinking groups screws over a bunch of people considering finance recruiting in the fall for full-time is much tougher as far as spots available.
Thanks for the unsolicited advice though, I guess.
Analysts and summer analysts should be fine given they are cheapest for the bank.
What do you expect? When rates are this low, spreads collapse. The sell side can't make money with the 10 year at 2.23.
just a heads up: ms fi also includes fx
Have couple buddies at MS FI and myself worked in their IB. They had some weird conversations on the floors conference room last few weeks. The firing will be focused on high earning Associates and under performing VPs. Most MDs should be safe but we will see how deep the cuts will be. I switched to buy side right on time last year but I hope my buddies get some offers soon because FI doesn't look as pretty anymore.
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