Layoffs hitting Wall Street?
Mass layoffs in tech happening (Tesla, Coinbase, etc). Will Analysts and SAs (and return offers) get the axe next? What about more senior staff? Scary time to be a new grad right now.
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Junior talent is still scarce. Any impact would be on the more senior side (and doubt action will be taken anytime soon).
Is junior talent really scarce? I'm still an undergrad but there's like hundreds, if not thousands of applications for each BB front office position. Juniors often don't directly contribute to revenue generation, instead supporting the seniors, who source revenue through their relationships and dealmaking. Wouldn't juniors be the first to feel the axe?
Junior talent is still very scarce and are the last to go in tough times. It would take too long to rebuild the pipeline if they cut junior talent. Much easier to fire bottom bucket VPs, directors, and MDs.
But there's a crap ton of people applying for the junior roles though - I understand cutting junior talent will hurt the bank's pipeline but there's no shortage of people willing to apply for any role.
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