Anyone else noticing that senior bankers are kind of stupid?
Or is it just me?
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Senior bankers were once junior bankers, analyst 1.
You have to back it up with some substance if you're going to make a statement like that lol
Username checks out.
Maybe some are but most likely you're just reviewing their competence from a different lens than them
As analyst I used to get so annoyed at VPs and above who didn't understand the detailed minutia that went into each model/analysis, etc. and mistook their lack of focus on it as a lack of competence/understanding. In reality, as you go up to the mid/senior levels of banking you realize how much you have to focus on other things around project/client management at the mid-levels and bringing in business at the senior levels vs. minute details.
As others eluded to, your seniors were once analysts/associates too and if they dug in would probably understand it (being in banking 10, 20, 30 years you will see an unbelievable amount of reps) but if they spent significant time on complexities then they would not be able to do their actual role properly. They need to rely on their teams to filter the exact right amount of info for them to understand the situation and reflect that back to the client when asked (some are better at this than others...).
By and large the MD role is about bringing in new business and providing their clients the right amount of exposure so that they feel the love while also leaning on their team to do the nitty-gritty execution. Your detailed analysis of beta or PF adjustments to EBITDA to a certain extent are not something they need to concern themselves with in more depth than necessary.
I get what your saying through the light of, some MDs might just be smart enough to figure out how to not get fired. While maybe more "intelligent" ones went off to pursue something else thats a passion, or create their own shop, or find something thats less hours.
Also, as said above, they might have so much on their mind that stuff that seems important to you is little use to them. It would be like you as a kid getting excited that you can "take a penny" from one of those dishes, and your father is trying to figure out how to pay the mortgage.
No one asked you to join Tobin. Stop whining.
Not just you. One of my MDs gets himself into deals that he doesn’t really understand. Makes the process much more painful for everyone else involved.
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