Looking to get some solid and definitive answers on headcount in 2021 and internship conversion rates this summer.
It seems like everyone thinks significant cuts are coming and that IB revenue is getting slammed but I'm not sure either is true.
Anecdotally I've heard of many groups getting slammed right now(Not just Rx but coverage,, convertibles, even M&A).
After taking a look at the facts (per WSJ IB Scorecard), current Q2 IB revenue (global) is $12.6bn, which is on pace to match Q2 2019's IB revenue of $19.8bn. (Note: Q2 2019 was the best quarter of the year)
The slack from M&A is being picked up by DCM and .
Do any current bankers have any insight on 2021 headcount and Summer 2020 retention rates for US BBs and EBs?