will my team still be there in 12 months?
For people who have completed internships and received FT offers for the following year, did you worry that the bulk of your team could have changed in the intervening 12 months?
In an industry where people at all levels at all firms seems to be able to change jobs pretty easily, is it really feasible to pick your place of employment for the next year based on a summer's experience, when the people you worked with could all have been replaced?
There's a ton of turnover in the industry, especially at analyst levels. Keep that in mind when deciding to accept FT offers. Don't accept w/ a group b/c you like the analysts, as most could be gone by the time you arrive nearly a year later.
.
Is an M&A advisory firm more or less likely to have this high turnover of people than a BB or is it not really possible to make this distinction??
I haven't, but I have a friend has gone back to an advisory firm full-time after an internship - lots of his team had changed, so he left because he did not like the new atmosphere.
higher level staff are less likely to change than analysts. in general i don't think people should be your biggest priority when picking groups. the turnover is too high, as has been mentioned already. i think the most important thing is the job nature - whether you'll like what you're doing on the job. if that doesn't go i don't think it matters how much you love the people around you...
Just wrote about how people get fired in finance today, but even without all the recent layoffs, turnover is incredibly high.
Just to give some indication of this - when I started 2 years ago the atmosphere in my office was almost completely different. Sure, some people are still here but most of the Analysts I started with are gone, either voluntarily or involuntarily and there are a lot fewer people in general.
Sure, more senior people will be more likely to stick around longer... but you know what, MDs, VPs and Associates who were here when I started are also gone now.
As far as M&A advisory firms vs. BBs - smaller firms will tend to have less turnover, but that's really hard to say in absolute terms... everywhere has high turnover.
The turnover at analyst level is unavoidable. But that doesn't mean you shouldn't let how much you like the analysts in a group be some factor, because chances are that the people who hired those analysts will still be around, and hopefully will continue to hire good analysts.
I think that is a reasonable assumption in terms of group continuity. Maybe others experiences have been different.
Excepturi fugiat quas ea consequatur. Necessitatibus neque cum molestias expedita iure libero nobis. Sit saepe sunt nisi beatae quia aspernatur voluptates. Aut dolor rerum culpa perferendis quia praesentium.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...