Everyone always talks about how bankers can move on to PEs and HFs, but what about the unsuccessful ones, the associates who either are fired after a year or two or leave on their own accord...where do they go? I mean, not everyone's getting PE or HF.
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Used to work at a BB and so have been many incapable associates getting laid off... Most of them actually somehow managed to stay in IB... (quite amazing actually..) They just move from BB to middle markets or no name boutiques. A few others move back to corporates or go back to MBA.
But in this market, I think many more will be out of a job for a much longer time...
You mean incapable like Harvard professor, the bankers who failed the economy?
^this guy...
...is a twat
lol are you referring to the poster or larry summers....because i guess you could make a case for both, lol
Associates are always the first to go in a tough environment.
From my observations it's actually VP's first. They are making the most without a direct tie to revenue. Probably depends on the structure of the group though (whether heavy on one or the other).
You're right. I was actually going to put Associates & VP's but for the OP's sake, I left it at associates.
To the glue factory.
What corporates do they go to?
They go into corporate development or some random corp finance function.
They go Chez Madame Tusseau or down the toilet.
Some stay in the field, some move to F500 or other start-ups. Some go back to live with their parents and start up websites like WSO, GMATPhit, BIWS, etc etc
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