incoming analyst class, jobless?
So now its just getting worse and worse. Should i start worrying about my equity derivs analyst gig starting this summer at a BB?
How much worse does it have to get for banks to start firing?
i think you should be ok. first yr analysts are cheap labor and eq derivs will be fine
Equity Derivs revenue should be kicking ass and taking names with all this market volatility. And I imagine the traders would be long vega as well
"And I imagine the traders would be long vega as well"
what makes you say this?
I believe that banks are smart. They made fewer fewer offers across the board in anticipation of a down turn. I am in the same position as you juliustuz and this is what I tell myself so I can sleep easier at night.
Not trying to be an asshole here, but do you mean that "banks are smart" and made hiring decisions "in anticipation of a down turn" the same way that they "anticipated" writing down billions of dollars worth of asset-backed debt?
For your sake, I sure hope not.
The traders I worked with last summer were long vega in their Dow and S&P books, and the VIX is higher now than it was then, so I would think that a long position would make sense.
I know you aren't in the equity world Jimbo, but what type of position would you take?
Banks have known shit was going to be bad, I agree that they did not anticipate the extent but they did slow down hiring. For example, at my school last year ML hired over 20 kids and this year they took 9. Why could that be? It is possible for some of those kids to have offers revoked if things get worse and that would suck.
Banks have known shit was going to be bad, I agree that they did not anticipate the extent but they did slow down hiring. For example, at my school last year ML hired over 20 kids and this year they took 9. Why could that be? It is possible for some of those kids to have offers revoked if things get worse and that would suck.
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