If the market keeps tanking..
If the market keeps tanking. Will all the banks that overhired because they were expecting more deals to start firing some first year analysts?
If the market keeps tanking. Will all the banks that overhired because they were expecting more deals to start firing some first year analysts?
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I'd worry more about government regulation on M&A deals, that's been the silent killer that no one is talking about but is looming in the background and may UAL deal
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From a technical standpoint, this is supposed to be a correction, not a bear market.
From and IBanking stand point regulation is more bothersome to the size of the Investment team than is the market.
Say Obama steps in and says UAL and Continental can't merge. Such precedent would impact IBanking more than the DOW correcting its self would, imo.
UAL and Continental can't merge with out Washington's approval. Think about the other large companies that may be seeking M&A work, will they waste the MM's of dollars in fees to be shut down by the government? I don't know.
I'm not saying were looking at the end of the world hear by any means, I just think that there is worse things going on in the economy than the stock market. And they have a much larger impact on the size of BBs analyst pools for Investment Banking.
Does that make sense? I just am sayng the market isn't a litmus test for hiring on the pure IBanking side (not S&T).
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If the lawyers are suing the government in defense of the constitution then I hope so too.
hypothetically, if the market (for m&a, or the dow for that matter) were to tank after hiring season, would the bank pull the plug on any new hires they make... say they recruit an analyst in the fall, and the market tanks next january... would they 'fire' this person? if so... that would blow
This is why its important to understand your contract, especially if you have 2 offers from 2 banks.
Many of them have clauses about firing an employee for no reason, or firing an employee with-in x amount of months prior to signing.
Unfortunately profit generation is a legal reason to fire anyone, i.e. the bank isn't making enough money they can lay-off anyone they want to.
Just be better than 50% of your analyst class and your fine
you're fine, offers won't get reneged unless things degrade to a much worse state than today
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