Is Citi S&T being affected?
Are traders at Citi getting payed off as well? I haven’t heard much about this division being affected, but should I be concerned as a 2024 incoming analyst?
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Yes Citi markets is absolutely being affected, and if you are not impacted by layoffs expect flat -> declining comp, and decreased headcount. When I joined the markets programs my analyst class was ~120, the incoming classes have declined to about half that number - as is the case for many other S&T platforms at BBs (source: work at a BB, have colleagues across the banks as well - we all discuss comp). I'm fully looking to exit in an MBA, or lateral capacity in other divisions.
Do you think the incoming analyst class that has signed for next year could lose there offers?
I do not think that the incoming analysts will be impacted in CCB, CB, or IB, but It appears that Citi is planning on closing its Business Banking operations.
Nah it’ll be fine - we’re cheap labor
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