Morning Coffee: Bonfire of the 29 year-old bankers’ bonuses, except here....
If you’re a vice president (VP) in an investment bank today, you’re supposed to be special. In the current climate of ‘juniorization’, 29 year-old VPs are supposed to be the new managing directors...
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How to get a job at Steve Cohen’s Point72 – a conversation with their head of...
Do you want to work for Point72 Asset Management, the firm that oversees the (immense) wealth of legendary trader Steve Cohen? If you’re in London, now may be your chance. Point72, which achieved a 16%...
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This is how likely it is you’ll be a millionaire at Barclays, Deutsche Bank,...
If you go into banking now, you should be looking for a long-term career – not a quick buck. The days of earning millions and retiring at 35 are long gone, banking is now just a (well-paid) job and...
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10,000 jobs are set to disappear from Wall Street this year
The Wall Street job market has stood out as a relative beacon of solidity over the past 12-to-18 months. Bonuses may have slipped by 9%, but salaries increased and total headcount increased by 4,500...
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Morgan Stanley’s guide to surviving in an investment bank until 2018 (at least)
With most banks still not meeting their costs of capital, pruning senior staff, weeding out juniors, and looking for ways to cut infrastructure costs, it’s harder than it’s ever been before to have a...
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You have a 4% chance of getting a job at Deloitte. This is what it takes
It’s hard to get a job at Deloitte. The Big Four professional services firm gets more than 500,0000 applications every year for experienced hires, and it only takes on 4% of those. This is obviously a...
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The worst M&A sectors to work in for 2016
M&A banking is supposed to be an industry of long hours and exhaustion. If you’re not pitching for deals, you’re working on deals. If you’re not pitching or working on deals, you’re in asleep in...
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Jefferies has let go of 500 bankers over the past year
Jefferies may be a small investment bank with big bonuses that make it difficult for their staff to leave, but it’s been showing a large proportion of employees the door over the past 12 months....
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Nine ways to stay motivated in a job you hate
You may be losing your mojo. Bonuses are down and most investment banks have decided that now is a good time to roll out redundancies. Morale is low, so much so that senior bankers are sending out...
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Why you don’t want to work for a small broker-dealer now
If you’re considering a move to an independent broker-dealer, small wealth management shop or registered investment adviser firm, now may not be the best time. And if you currently work at one of...
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When one bank’s senior associate is another’s VP: the confusion of investment...
BNP Paribas is following in the footsteps of SocGen and introducing corporate titles to its investment bank in Europe. Good luck with that. Investment banks’ job titles are a nightmare and headhunters...
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BAML cuts in Hong Kong as bankers struggle in search of new work
Bank of America’s job cuts in Asia cross most front-office business areas and are targeting “under-performers” across sales, trading and investment banking across multiple asset classes. The bankers...
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Morning Coffee: Jes Staley’s special technique for cutting heads at Barclays....
Jes Staley has achieved what many other investment banking CEOs dream of: he has discovered a reliable method of slashing headcount in the front office. Barclays has been talking about vigorously...
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Six hot jobs on Wall Street that you’ve probably never thought of
There have been plenty of grumpy Wall Street executives lately, with bonuses down an average of 10% by some accounts and predictions New York is about to lose thousands financial services jobs this...
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The least employable finance professionals in London
Everyone knows the story: senior staff on giant salaries are being disproportionately dinged in contemporary banking layoffs as banks rush to replace them with juniors on smaller packages. It’s called...
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Two charts explaining why Deutsche Bank pay must fall
As we noted last week, pay at Deutsche Bank isn’t exactly evenly distributed: a very small number of people there get almost all of the pie. 93% of people in Deutsche’s investment banking arm earn less...
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12 handy hints for fitting into Goldman Sachs’ culture
Goldman Sachs has people queuing up to get a job there. It’s the most popular bank among finance professionals. It only accepts 3% of applicants and – once in – people tend to stick around (average...
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Citi’s gap year for junior bankers sounds like a bad idea
Credit Suisse is sending its junior M&A bankers on secondment to work for clients. Now, Citi seems to be offloading its juniors on charitable work gap years. The Wall Street Journal reports that...
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Morning Coffee: Q1 wasn’t just bad for banks, it was disastrous. Hedge funds...
Suddenly, a lot of banks are making job cuts. Last week, Bank of America Merrill Lynch (BAML) cut 150 people from its global markets arm. This week, Citi is said to be readying cuts across its...
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The five personalities you will always encounter in investment banking
Every year, fresh faced analysts and associates start their investment banking careers and – as unique as they believe themselves to be – most tend to fall into one of five character types once they...
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