Poaching junior analysts / hot job market?
Full disclosure: I'm a reporter for Bloomberg News, the one who has been writing about banks raising junior-banker pay to $100,000 as of late.
I've been talking to recruiters and they say the job market for junior analysts is busier than ever. One told me it's the busiest he's seen in 10 years. Another told me that PE firms are now swooping in to lock in job contracts with junior analysts during their first month of work - before they have any experience - whereas those firms usually waited until analysts had at least completed their first year. But because the demand for analyst skills is so high, competition is getting worse.
Poaching is rife and junior analyst skills are high in demand. Bidding wars are real.
And junior analysts (or at least the new generation of them) have undergone a cultural shift - no longer are the days of working long careers in investment banking. Instead, I'm told junior analysts come to the banks to get the experience/name recognition from the IB but get out ASAP the second a PE firm, hedge fund, or more increasingly, a tech firm, swoops in offering bigger salaries and better perks including better work life balance.
SO I'M WONDERING - what are your experiences with this? Is it true? Is the job market better than ever for junior analysts right now?
And are analysts looking for higher paychecks elsewhere? What's the general sentiment? Is there any loyalty to your employer anymore? And just how worried are banks about losing their junior analysts?
Have any of you been engaging in bidding wars? Are you being approached by different firms with job offers? Are head hunters contacting you?
Have any you left IB for a job in tech or another financial firm after two or less years at the bank? why?