Just a quick observation, but have anyone noticed the talent of the people in IB is diluting?
Traditionally, the "best and bright" flock to Wall Street because nothing else compensate better than them. Obviously this is no longer the case.
Now you generally get hard working and hustler who made it from non target. Of course, with another large chunk from minority groups (I.e female). You also get people with nothing to show on the resume but got in through nepotism. Nothing against them but it's obviously a different crowd. I think WSO/M&I really changed the finance landscape.
I've been monitoring people who are 2-5 years above me, who all made it to BB/EB/MC and generally I don't think they end up in good exit opps. At least not as 'prestigious' as what this forums hype. I see a large number from consultant flocking to tech and startups within 2 years in large numbers.
For IB people, they generally exit to a mm/ small pe fund with the occasional MF. From knowing the people, I think an average consultant at MBB is more talented than an average IB at a BB.
Anyone with the same/different view?