Resistant Finance Jobs
What jobs in finance do you all think would be the most/least resistant to effects felt by a recession?
(include coding/non-coding jobs)
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I don’t think there are any jobs in finance that is resistant. It doesn’t matter if you’re a coder. If your job is to be developer but the trading desk can’t make money, they get let go and you’re gone. Same with quants. If you’re in sales and you can’t bring in comm, you’re gone. The reason why I say this is because the bank I’m at had a meeting this past week of possible layoffs across the firm. Definitely going to be layoffs in UK, not sure how the US will be effected. Traders, tech, ops, risk, legal... wherever. Of course, I’m talking about the structure of S&T. In terms of investment banking, private equity, etc. someone else can be in their two cents.
Jobs that are not based on commission or bringing in business. For instance operations at a firm or accounting or something similar. Producers who will not be able to produce will be let go I would suspect for instance IB would fall into that category if there is not as many deals because of a recession
Jobs in academia or research institutions tend to be pretty stable, especially if one has tenure. Stability is high even for lecturers in large institutions.
Depends on where the recession comes from, whichever group loses the most and should’ve seen it coming, there gone. Also any nonperformers don’t think anyone is excluded.
People that get fired lateral to somewhere right tho ? Where do they lateral to ? (Like what happened to the employees after Lehman collapsed )?
I heard not everyone in Lehman was able to find their feet in finance and some went into teaching, bankruptcy, startups, retirement etc . I am a junior employee and was literally a child then so did not have first hand experience this is just stuff I asked my seniors when I was interning recently.
If you think about it though it would be impossible for a major collapse like Lehmans to not have left some employees done and dusted for life.
Depending on the scale of recession I would say most Distressed and Special Situations Hedge Fund and Private Equity jobs are relatively recession proof.
If anything I would go further and say they perform better in recessions due to the fact they have more investing opportunities.
I have never worked in these fields but have friends in them so I am open to being corrected.
I might add Restructuring Investment Banking but not sure how well that applies since it falls under the investment banking umbrella and they seldom do "well" in recessions.
PWM, arguably counter cyclical
Low to mid-level PE acq. jobs at firms with lots of money they need to put out.
What do you mean by "low to mid-level PE jobs" ?
M&A
I know where the bodies are buried. Between that and being the nimble odd-project guy, I think I'm pretty safe.
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