What Happens When PE Becomes a Nightmare, The Great Resignation Is Now the Big Stay, Don’t Believe the (M&A) Hype - Weekly IB Recruiting Brief

Don't believe the hype, its a sequel / As an equal, can I get this through to you / My 98's boomin' with a trunk of funk / All the jealous punks can't stop the dunk – Public Enemy

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• At this point roughly 900+ 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. This is your last chance to participate in the survey.
• Fed Chair Jerome Powell said inflation is “not far” from where it needs to be for the central bank to start cutting interest rates. Powell also told a House panel "there will be bank failures" due to losses from commercial real estate loans, but they don't pose a risk to the entire system and it won't be the big banks. (CNBC)
• M&A activity has picked up in 2024?with several acquisition deals being announced among total global M&A deals being valued at $425 billion so far this year. Additional Dealogic data has found the volume of M&A activity to have increased by 130% year-over-year this quarter. (Dealogic)
• Mergers and acquisitions are seeing a resurgence so far in 2024, but some of the top bankers on Wall Street are being careful not to overhype the dealmaking revival. Goldman Sachs (GS) CEO David Solomon said Tuesday at a UBS financial services conference that "it's gotten better" compared with "super anemic" activity during parts of 2022 and 2023. However, Solomon does not expect investment banking to climb back to historical averages over the last decade.

• One year after SVB's implosion, the venture debt market has yet to crown a new king. When the bank, which held accounts for almost 50% of VC-backed tech and life science companies in 2022, collapsed on March 10, 2023, the impact saw widespread financial panic among startups and in related markets. (Pitchbook)
• Layoffs rise to highest for any February since 2009. With a series of high-profile layoff waves, tech leads the way this year in cuts with 28,218, though that number has fallen 55% from the same period a year ago. (CNBC)
• The Great Resignation Is now the Big Stay. US workers are changing jobs less frequently, easing pressure on the hot labor market and giving the Fed scope to lower interest rates. (Bloomberg)

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1-On-1 Career Coaching

Reflecting on my own 15-year career journey working at top-tier bulge bracket investment banks and global financial institutions, I understand the complexities and challenges people face when recruiting for a job in investment banking or private equity.

I recognize that not everyone enters the investment banking recruitment process with the same experience and resources. My personalized coaching service levels the playing field by providing you with the tools and guidance tailored to your unique background and career aspirations.

Drawing from over a decade in leadership roles at top-tier global investment banks, I have an insider’s perspective on what it takes to launch and maintain a successful career. My individualized support focuses on professional resume and deal sheet reviews, narrative and story preparation, networking strategies, firm targeting, strategic technical and non-technical interview preparation, case study guidance, offer negotiation and real-world best practices to get a leg up on the competition.

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The Grass Wasn’t Greener: What Happens When Private Equity Becomes a Nightmare

You sacrificed years of your life grinding away in investment banking, all in pursuit of that coveted private equity (PE) associate role. The prestige, the impressive compensation, the ability to work on high-stakes deals – it seemed like the ultimate career destination. But now that you’ve made it, something feels off. The reality of life in PE isn’t quite living up to your expectations.

Despite the hype surrounding the industry, people leave private equity roles all the time, whether voluntarily or due to forces beyond their control. Even at the uppermost rungs of the ladder, a significant portion of professionals find themselves yearning for something different. The reasons can vary widely, from disillusionment with the day-to-day grind to lifestyle considerations or a simple change of heart.

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No Job After Graduation? Top Tips to Manage the Stress

The job hunt is brutal for pretty much everyone. It’s a mind-numbingly hard slog that every grad has to push through. But you’re far from alone in finding it tough. Literally everyone deals with burnout, anxiety and feeling defeated at times during this process.

So don’t buy into the lie that you’re the only one having a rough go of it. Your friends might seem to have it all figured out on social media, but trust me, plenty of them are also panicking, sending out apps into black holes and racking up rejections left and right. They just don’t advertise it!

READ MOREDon't Believe the Hype

HOT JOBS 3/12

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.

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Investment Banking Analyst 1/2, Healthcare Services M&A

New York, NY, United States

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Vice President 1 Fintech Investment Banking (Boutique)

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Investment Banking Analyst 2/3 Fintech M&A (Boutique)

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Analyst 2/3 Technology M&A Private Companies (Remote)

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Investment Banking Restructuring Associate 1/2 (Elite Boutique) (NYC)

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Investment Banking, Associate 2, Tech M&A (Prestigious Boutique) (NYC)

New York, NY, United States

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Investment Banking, Associate 2, Tech M&A (Prestigious Boutique) (SF)

San Francisco, CA, United States

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

Washington, DC, United States

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Investment Banking Analyst 3/Associate, Renewable Energy M&A (Boutique)

New York, NY, United States

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Investment Banking, Associate 1/2, Technology M&A (Middle-Market)

San Francisco, CA, United States

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Investment Banking Associate 3, Restructuring (Elite Boutique)

New York, NY, United States

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

Boston, MA, United States

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