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.

 

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.

 

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...

 

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.
 

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?
 

Yes. BB (EB) group did less than $1mm in trading rev, less than $1mm in IB rev during the peak last year. Moving to another BB in another vertical that did $8mm in trading rev last year, and ~that for IB revs. Feels much safer. Verticals at some of the energy ER shops have been laid off in the last 2 months. Signal.

Whenever you're on the right path, the universe will shovel you shit, and you must turn it into compost
 

Careful comparing IB revenues b/t shops - I'd risk ECM IB fees more than M&A and structured deal revenue in this market. You want a shop with solid deal flow and working on complex transaction supporting ER, not a shop that leans on the Balance Sheet. A banking good team always gets a piece of the ECM business when its there, but not vice versa....

 

Ask yourself "am I adding value to the firm?" and "am I irreplaceable?"

If your answer is no, then you should always have the thought in the back of your head and use it as motivation to work hard so that the answer becomes yes.

 

Hey guys, so I’ve purchased the Invest Like The Street Analyst Program, but haven’t started it yet because I was busy with school and work. I’ve decided that I do not want to pursue a career with anything that the course teaches.

Because of this, I’m offering to sell this course to someone that could benefit from completing it, which would increase their chances of landing their dream internship/dream job.

The course has not been started yet. I’ve erased my name from all things associated with the course, so you can input your name under the user of the course.

It has great reviews, and goes over essential topics for anyone looking to get a job in financial services. Heavy financial modeling, which is great. It counts as experience too, so you can put it on your resume, and will make you stand out from other candidates that don’t have this experience.

The original price of this course is $1,000. But I’m offering $600. Would anyone like to buy this off me?

 

MM ER Associate: no, but just because the sector I cover happens to be one that my firm has a lot of banking relationships in... plus it’s a consumer cyclical sector which attracts hedgie interest, especially late in the cycle.

- $billy
 

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