DB Lays Off 1/3 of Analyst Class
Heard this rumor from multiple sources. Any confirm? Heard 20-25k in severance
Heard this rumor from multiple sources. Any confirm? Heard 20-25k in severance
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I havent heard about that, but if its true that would be crazy! A few months ago, I ran into someone who was working at Morgan Stanley and his derivatives trading class got laid off.
No one has been laid off at DB. They still hired a huge incoming class. The only people who have left went off on their own after getting their nice fat bonuses.
20-25K in severance for an analyst? I'd gladly take that
It was only Lev. Fin. that got sent packing, not the entire analyst class.
I don't know who is starting these rumors but no investment banking analysts have had anything done to them at DB. Except normal analyst life which has made over a third of the class quit for greener pastures.
Not sure why people feel DB was hit exceptionally harder than any other investment bank... but I can't see them firing any of the analysts when they took in the same amount of summer analysts.
It would seem to be pretty irrational to lay off any analysts right now, even if they are sitting around doing nothing. Nobody knows whether deal flow will pick up 3-6-9 months from now (it could even return to "normal" before the year is up), so banks don't want to risk being understaffed based on a bad bet about future market conditions. Plus, analyst bonuses don't come around until next summer, so analysts are costing banks a mere $5000/month each. Unless they wipe an entire department out (like MBS), I don't see why any bank would lay off analysts right now.
Not sure either, just keep hearing this rumor about DB's entering analyst class
Anyone here in DBs entering class?
Ok, DB's entering first year ibanking class has only ~75 in NY. There is no reason to cut relatively cheap analysts so early and from such a small class to begin with. I'm positive these rumors are just that and completely unsubstantiated. Are you guys just making up news to feel out their possible truth or what?
I heard GS filed for Chapter 11 from Lloyd Blankfein personally. BAM
entering class or exit class. It's clear the OP is talking about 08 analyst classes.
The class in NY isn't big enough to justify cuts, there is a huge firm to support and analysts are the cheapest way to do it. Every group got less analysts than they would have liked but thats just because last year (07 class) was such a bumper hiring year and this year (08) they stepped it back a bit. So the overall class is about a third smaller than last year, but thats because last year was DBs largest analyst class ever.
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