Weekly IB Recruiting Brief

"I’ll Tell You What, I’m Never Eating At Benihana Again. I Don’t Care Whose Birthday It Is." Donnie, Wolf of Wall Street

M&A Bankers?Still Can’t Catch a Break

Senior M&A bankers are feeling optimistic about 2022. Jr. Bankers are still getting crushed. Vito Sperduto, co-head of M&A at RBC Capital Markets, pointed out that even if M&A is down 20% in 2022 versus 2021, it will still be the second-best year for M&A bankers ever. Yay, more money. Sad, more time in the office.

Big Bucks, Some Whammies

GS, JPM and BofA are contemplating ?increasing their bonus pools by 40% to 50% ?compared to 2020. Unfortunately given the increase in work hours, on a per hour basis comp will probably go down. Top European banks like Deutsche and Barclays are thinking of more like?20-25%. Some banks, like?Credit Suisse ?are expected to cut bonuses. Others, like HSBC are in danger of disappointing once?again.?

CS has announced plans to reduce the capital it allocates to its investment bank. UBS's banking analysts are predicting that Credit Suisse's equities revenues will fall by 45% in the coming years, due - in part - to its withdrawal from prime services. They suggest that "attracting and retaining talent" could be an issue.?

In Banks, Rising Costs will Squeeze Unproductive MDs

With revenues expected to drop (albeit slightly) and banks promoting some of their biggest MD classes ever at the end of 2022, 2022 will be a bad?year to be an established MD who's not producing. Most banks have cost reduction plans in 2022 - If you're expensive, watch yourself.?

Don't be a Bull Market Hire

Tom Ragland, founder of Harrison-Rush, recently shared that his new favorite term is “a bull market hire". It means someone who is hired into a bank and paid well for one year and as soon as the market slows down, they will be made redundant or paid no bonus. Getting hired in a bull market can be great for Managing Directors who will get a 2–3-year guarantee but Associates and VPs need to make the move with eyes wide open and with a longer-term view. Slow and steady wins the race.

Open Roles 1/11/22 - Please PM me or shoot me an email at?[email protected] ?and let me know which role you might be interested in. No H1Bs, TNs or recent grads. No career switchers at this time. If you are interested in breaking into banking please check out https://gettingtheoffer.com .

MM Analyst 1/2 Healthcare M&A (NYC)

MM Analyst M&A 1/2 (NYC)

MM Analyst 2 Consumer (NYC)

MM Analyst 2/3 Healthcare Service (Miami)

BB Associate 1/2 Tech (NYC/SF)

BB Associate 1/2 ECM (NYC)

EB Associate 1/2 Healthcare (NYC)

EB Associate 2/3 M&A (NYC)

EB Associate 2/3 Tech M&A (SF)

Specialty Healthcare Associate 2/3 (NYC)

MM Associate 2 Healthcare - Life Sciences (NYC)

MM ECM Associate 1/2 SPACs (NYC)

MM FIG Associate 1/2 (NYC)

EB FIG Associate 1/2 (NYC)

Associate III – Sponsor Finance (Technology) – Boston (Up to 135k plus 30% bonus)

MM COO Healthcare Group (Former IBD - Associate Level)

BB VP Tech M&A (NYC)

BB BP Tech M&A (SF)

EB VP 1 Healthcare (NYC)

EB VP 1 M&A (NYC)

EB VP 1 Tech M&A (SF)

Specialty Healthcare VP 1/2 (NYC)

MM Consumer VP1/2 (NYC)

MM Healthcare - Life Sciences VP1 (NYC)

MM FIG - Asset Management VP1/2 (NYC)

MM Debt Restructuring Advisory (Analysts, Associates, VPs, Directors (Dallas)

VP I – Corporate Banking Credit Solutions – San Francisco (up to 137k plus 45% bonus)

VP I OR II – Sponsor Finance (Technology) – Boston?(140 – 190k plus 65% bonus)

VP II – Sponsor Finance (Healthcare) – NY (up to 190k plus 65% bonus)

MD Tech Corporate Banking Late-Stage Venture Lending (NYC)

MD FinTech Top 10 Global Bank (NYC/SF)

MD Internet Top 10 Global Bank (NYC/SF)

MD M&A Top 10 Global Bank (NYC/SF)

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