PE Comp Structure Changing, J-Pow Goes Off Script, Vaping in an Interview - Weekly IB Brief
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PE Comp Structure Changing, J-Pow Goes Off Script, Vaping in an Interview - Weekly IB Brief

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  • At this point roughly 475+ investment bankers have completed PRP's 2023 investment banking compensation survey.? Similar to last year's report, I'm hoping to pull together a detailed analysis which?will ?ONLY?BE AVAILABLE to those who participate in the survey. Once again, I'll be looking at compensation trends by firm, title, group, geography, and percentage of deferred comp. If you have not received your numbers yet, DO NOT PANIC. You will have a chance to participate in the survey at a later date. I understand that several key players have yet to announce.?
  • Private equity firm Ares Management is shifting its compensation strategy for top executives, increasing stock-based compensation in exchange for a reduction in fund incentive fees (the “20” portion of the “2 and 20” fee structure). Ares also plans future compensation adjustments, retaining the option to reduce incentive fees for additional stock awards. (Bloomberg)
  • For months, jobs data have pointed to a gradually cooling labor market across the US, which along with receding inflation helped fuel bets that the Federal Reserve would start cutting interest rates early in 2024. Strong hiring is now likely to delay Federal Reserve rate cuts. (Bloomberg)
  • Fed Chair Jerome Powell crushed investors’ dreams of a March rate cut last week, a point he seemed to reiterate on “60 Minutes.” The chance of a March rate cut went from 50% last week to about 16% on Monday, according to the CME FedWatch Tool.
  • Even though the US unemployment rate is near the lowest level in decades and overall layoffs remain modest, employers are, on average, taking longer to hire, and some are posting fewer jobs than not long ago. That's making some job hunts harder.
  • Deutsche Bank?to cut 3,500 jobs and reward shareholders.?The news came as Germany's biggest bank, seeking to put years of turmoil behind it and focus on steadier retail banking, reported a 30% drop in fourth-quarter profit that still beat analyst expectations.
  • Nomura cut 60 staff as the Japanese bank looks to strip out costs amid an ongoing dearth of deals. The bank will trim headcount within its investment bank, with the US and Europe included in cuts that?will affect all levels of seniority, according to a person familiar with the matter. (FN)

Bonus Vibes

  • I?recently had the opportunity to speak with Justin Baer, Senior Special Writer at The Wall Street Journal – reflecting on the 2023 Bonus Cycle. This year's bonus season on Wall Street is proving to be disappointing, continuing the trend from the previous year. Due to a decrease in deal activity, investment-banking bonuses have dropped by up to 25%. Looking ahead, senior bank leaders are cautiously optimistic about 2024, noting some improvement in capital-markets activity, but not expecting a return to the highs of previous years. (WSJ)

PRP Comp Survey Sneak Peek VP1s

PRP Comp Survey

PRP Comp Survey Sneak Peek VP1s All-in-Comp

PRP Comp Survey

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Hot Jobs 2/6

Please PM me on linkedin or shoot me an email if you want to learn more about a specific role. Must have at least 1-year prior IB M&A experience. Visas (H1Bs, Stem, L1s, TNs) are tough in this market. No Recent Grads. Lateral hires only.

Can't find the job you're looking for? Please submit your resume to be added to our database to be considered for future opportunities.

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??New Mandates??

Investment Banking Tech M&A (Sr. Analys/Jr. Associate)

Washington, DC, United States

Investment Banking, Associate 2, M&A (Tech)

New York, NY, United States

Investment Banking, Associate 2, M&A (Tech)

San Francisco, CA, United States

Investment Banking Analyst 2/3, Renewable Energy M&A

New York, NY, United States

Investment Banking Analyst 1/2, Technology M&A

San Francisco, CA, United States

Investment Banking, Associate 1/2, Technology M&A

San Francisco, CA, United States

Investment Banking Associate 3, Restructuring (Elite Boutique)

New York, NY, United States

Vice President, FIG M&A Investment Banking (Middle-Market)

New York, NY, United States

Investment Banking Tech M&A (Associate 2/3) (Prestigious Boutique)

Boston, MA, United States

Investment Banking Tech M&A (VP 1/2) (Prestigious Boutique)

Boston, MA, United States

Investment Banking Healthcare M&A Associate 2/3 (Middle-Market)

Miami, FL, United States

Investment Banking Recruiter (Executive Search Firm)

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Absolutely engaging initiative, Meridith! ?? Remember what Albert Einstein once said, "Strive not to be a success, but rather to be of value." Your insights on compensation and the job market are undoubtedly providing immense value. Subscribing now! ??? #ValueOverSuccess

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CHESTER SWANSON SR.

Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer

1 年

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