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May 31, 2024
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Expect layoffs
actually, while not in banking or trading, there were layoffs today in BSC's subprime group, Encore
from what I'm hearing/have read, banks likely won't shutdown because as an analyst you're cheap and they need to have SOME number of incoming analysts since an analyst's lifespan is only 2-3 years, otherwise they'll have an empty class which throws things off. unfortunately that number will likely get smaller...
Firm will take less percentange of summers than previous years,associates hit hardest. S&T hit harder than IBD.
FT recruiting will be scaled back quite a bit. Summer 2008 intern numbers-who knows yet. Target is possible same number as this year.
UBS announced a slowing down in their hiring. Its going to be a tough FT recruiting session. Overall I would guess associates will be hit harder than analysts because analysts are cheap.
Great. As a 09 SA intern, I hope much of this distress and risk evaluation is resolved by that time.
hiring freezes at some places as well
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