Is there a hiring freeze at I-banks right now?

CFA General
#1

If so, ususally how long that will last?

#2

Yes, pretty much all the major banks are on freeze. Not sure how long it will last.

#3

I know every situation is unique, but is there a usual duration for these kind of things? 1-2 months? 7-8 months?

#4

Not sure…a number of banks have been/will be undergoing headcount reductions and usually the window for hiring doesn’t improve materially till that is done, at least

#5

Hard to say how long this will last. That being said, a hiring freeze is just a blanket statement. Most banks, even those that are reducing headcount, have certain positions they need filled. However, these are more likely than not going to be more experienced positions. They have analyst and associate classes coming in this summer to fill openings at those levels (not to say there are none that need to be filled, just very few).

#6

Thanks numi and FIAnalyst

#7

The usual duration is as long as we’re not making money. So yes, it’s 1-2 months, 7-8 months, 15-40 months, whatever. Nobody knows.