Comments (35)

Dec 21, 2018

Nope, but no firm had a good year

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Dec 21, 2018

I work in restructuring, so no.

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Dec 23, 2018

Nah, just worry about getting laid.

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Dec 24, 2018

And paid.

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Dec 28, 2018

Read this title as "Anyone Worried About Getting Laid Often"...

My soul is highly leveraged

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Dec 24, 2018

Would probably be more worried if I were a VP or something more mid-level than a mere associate.

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Dec 26, 2018
sl55amg:

Would probably be more worried if I were a VP or something more mid-level than a mere associate.

this.

Dec 27, 2018

Agreed. If a recession is somewhere in the next 1 -3 years then an expensive VP or low revenue generating Director would be a bad spot to be in. Analysts / associates are generally protected and can ride up the wave post-contraction once they hit VP when business expands again.

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Dec 28, 2018

From someone who has been through a couple of downturns.
That comment is absolutely bull shit - it's a numbers game not a money game.
Analysts and associates are at high risk of getting let go. VPs who have been with the firm for a few years even if underperforming are in a much better position.
Truth.

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Jan 9, 2019

1-3 years? I'm guessing you've never worked in a down market...

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Dec 27, 2018

What is driving the worry?

Funniest
Dec 27, 2018

Username checks out.

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Dec 28, 2018

I'll add my $0.02...

The experience in my firm (MM) has very much been a safe one for associates/senior associates and not a very safe one for senior analysts. If you are an analyst who is not performing well and not a go-to guy in the space you should be pretty damn afraid of getting laid off eventually in this environment. Obvious exceptions are: 1) mediocre analysts who are tied to a lot of banking revenue so the coverage is necessary, and 2) newly minted associate-analysts/analysts who are still ramping up.

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Dec 28, 2018

I'd be worried about getting laid off as a junior associate working under a weak / low-rev director, VP, etc.

If a lead analyst leaves or gets laid off, what happens to the junior associate below them?

I would guess in a rough economy, you might give the junior guy the boot too.

Dec 28, 2018

I can only speak for what I've seen at my bank, but when this happens, the associate (assuming they don't suck) is given the opportunity to switch to another team. Turnover is generally high enough that there will always be at least one associate spot open to move to. That's current environment though. If things get worse like in a recession, companies may not be as nice about it...

Dec 28, 2018

What kind of severance would be typical if somebody at the associate were to be cut for something non performance related, like an analyst leaving or a firm making cuts? Anything at all?

Dec 28, 2018

Two weeks pay? Maybe four.

Jan 18, 2019

If it is the first round of cuts folks tend to get more 4-8 weeks in a BB and 2-4 weeks in smaller banks. If the bank does subsequent rounds, it gets much shorter. Saw this happen in '08 & '11.

Jan 9, 2019

Your in the world of high performance finance. That's the worst thing that could happen. But then it again it is a bare minimum of the level of existence you should be maintaining.

Don't feel bad if you as well. Every other sector is literally a step down - so enjoy the ups and downs and if it goes bad - at least you would have given it your best shot.

Caution to the wind - don't even think about this again please!!!!!!!!

Corp. Fin. Analyst currently working two finance jobs (and a teaching gig and trying to save my music production solo career). I love avocado's. And yes Cape Town is the most beautiful place in the world. Don't believe me, come thru and find out.

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Jan 10, 2019

[Double post]

Jan 10, 2019
Njabulo Vincent-Hadebe:

Caution to the wind - don't even think about this again please!!!!!!!!

Damn this is a 2019 shmood

Jan 9, 2019

Nah

Jan 10, 2019

Not really. My review is due for this month and I have already been told how my workload will increase throughout 2019. Unless they're slow rolling me, I think I should be fine. Also my team has been solid this year compared to others at the firm.

Dayman?

Jan 13, 2019

My impression though was that BBs already started shrinking their summer intern class, so in terms of any upcoming lay-off, if there is one, mid-level ppl would be more at risk since at the junior level it has already taken place effectively.

Jan 18, 2019

I'd actually welcome it at this point.

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