I am recruiting for the associate role and have upcoming interviews, does anyone have thoughts? Previous IBD experience at a BB in London. Heard there's been many exits in the last month, is that a red flag?
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Based on the most helpful WSO content, it's not uncommon for there to be a wave of exits in certain periods, especially in high-pressure environments like Goldman Sachs or any other Bulge Bracket (BB) firm. This could be due to a variety of reasons, including the pursuit of different opportunities, personal reasons, or changes within the firm's structure or strategy. Here are a few points to consider:
Normal Cycle of Finance Careers: In the finance industry, especially within roles that serve as stepping stones to higher positions or different sectors (like Private Equity, Hedge Funds, etc.), exits are quite normal. Many professionals plan their career moves strategically around the experience they gain in roles like IBD.
Market Conditions: Sometimes, exits can be influenced by market conditions. For example, if the market is bullish, opportunities in Private Equity or Hedge Funds might become more attractive, leading to more exits.
Internal Changes: Any significant changes within the firm, such as shifts in leadership, strategy, or even compensation structures, can lead to higher turnover. It's important to understand the context of these exits during your interviews.
Opportunity for Growth: A high turnover rate can sometimes indicate opportunities for rapid advancement for those who stay. With others leaving, there might be a chance to take on more responsibility quicker than in a more stable environment.
Due Diligence: During your interviews, it might be beneficial to subtly inquire about team dynamics, culture, and the reasons behind recent exits. This can provide you with a clearer picture of what to expect and whether the role aligns with your career goals.
Given your previous IBD experience at a BB in London, you're likely well-equipped to handle the demanding environment at Goldman Sachs Private Credit. It's also an excellent opportunity to leverage your skills and experience in a new role. Remember, every career move comes with its set of challenges and opportunities. It's all about finding the right fit for your career aspirations and personal growth.
Sources: London Ranking Exit opps PE and HF, IB Good Exits - Not so much, A Few Observations on Investment Banking Exit Opportunities, Goldman Sachs non-TMT/FIG exits and culture,
a friend worked there and heard 5 people left within a month all ana and asso. red flag or not you can tell lol
Where did these people go?
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