Man things are terrible out there from what I hear. I read that WS plans to shave off current job numbers by 18-20% at my morning meeting. Also, I’ve heard that many firms such as MS, GS, JP Morg have canceled their analyst programs. Many college students who originally got an offer, no longer have one… Just FYI…
As long as the markets doesn’t get crushed toooo badly, I think I’m relatively safe at my 7 person RIA wealth management firm. Probably won’t get the assistant I want/need, though.
CFABLACKBELT Wrote: ------------------------------------------------------- > Also, I’ve heard that many firms such as MS, GS, > JP Morg have canceled their analyst programs. > Many college students who originally got an offer, > no longer have one… That is crap. There certainly have been young people let go, but no major shop has called off its analyst program. Scaled them back, but they knew about that during hiring. Classes this year are much smaller than last year. Not saying that analysts couldn’t get let go before they even start, but I am not aware of any bank with at least a decent capital markets presence that has altogether cancelled its analyst program. Nor do I foresee it.
agree with FIAnalyst. haven’t heard any of that either. in fact, i helped place a couple of guys at the firms CFABLACKBELT mentioned over the last few weeks, so i know it’s not true.
…that being said, make no mistake, the employment situation on wall street is not currently a good one
I work at a bank that kind of in the center of all this and will concur with numi and FI.
I lost 9 buddies in one day at my BB firm. It is terrible.
Numi, that’s certainly good news. Like I said I’m just passing on what I heard in my meeting this morning.
i understand. it’s definitely an anxious time for things on the street and i don’t expect things to materially improve for a while. but one thing for sure is that banks are still hiring interns - though at lesser rates - but at least some hiring still has to happen because banks need new analysts in order to fill the shoes of the outbound second-year analysts.
pimp Wrote: ------------------------------------------------------- > I lost 9 buddies in one day at my BB firm. It is > terrible. Hahaha, I can just picture this line being used in a movie 20 years from now. “Damn man, I lost 9 good buddies down on the Street back in spring '08…it was hell in there…I barely made it out alive.” Conjures up images of some Vietnam vet talking about the Mekong Delta.
> Conjures up images of some Vietnam vet talking > about the Mekong Delta. My whole department was wiped out by morning
zimzim78 Wrote: ------------------------------------------------------- > pimp Wrote: > -------------------------------------------------- > ----- > > I lost 9 buddies in one day at my BB firm. It > is > > terrible. > > > Hahaha, I can just picture this line being used in > a movie 20 years from now. “Damn man, I lost 9 > good buddies down on the Street back in spring > '08…it was hell in there…I barely made it out > alive.” > > Conjures up images of some Vietnam vet talking > about the Mekong Delta. LOL! nice to see you around here again zim. what have you been up to lately?
btw pimp, sorry to hear about all the craziness that’s been going on at your firm. i think some of us are trying to make some light of the situation on wall street only because constantly thinking about it often makes matters worse. any idea when the firm will be done with cuts? i talked to some of my friends there who said that everyone’s pretty much in pins and needles right now, but their sense was that the layoffs might be finished fairly soon at least on the research side. like everyone else, i hope the restructuring doesn’t become a big protracted process because that doesn’t do the firm or its people any good.
numi Wrote: ------------------------------------------------------- > zimzim78 Wrote: > -------------------------------------------------- > ----- > > pimp Wrote: > > > -------------------------------------------------- > > > ----- > > > I lost 9 buddies in one day at my BB firm. > It > > is > > > terrible. > > > > > > Hahaha, I can just picture this line being used > in > > a movie 20 years from now. “Damn man, I lost 9 > > good buddies down on the Street back in spring > > '08…it was hell in there…I barely made it > out > > alive.” > > > > Conjures up images of some Vietnam vet talking > > about the Mekong Delta. > > LOL! nice to see you around here again zim. what > have you been up to lately? Numi Hey bruv…been meaning to wish you congrats on the new gig. I’ve actually been around…been lurkin’ in the shadows. Been so busy at work and taking another kick at the cat with level 2, so studying like a mofo. Other than that, just trying to get back in shape and take it easy on the weekends - social life has suffered, but def been saving money and brain cells. I still absolutely would like to have that chat offline sometime about ER and get your thoughts, especially in light of your recent posts and activity on WS. Has your girl picked up anything new and exciting from Lulu Lemon? Perhaps an AF boys weekend in TO is in order this summer…get 3L and Turkish in the mix as well like we talked about before?! All the best!
hey zim, thanks a bunch for the well wishes and good to hear from you. good luck with level 2 – i think i’m sitting out the cfa exams indefinitely but i’m sure you’ll kick ass. i like the new job a lot - good people to work with, far less bureaucracy, and more interesting work. i find the private side pretty interesting as i think i’m much more of a project- and transaction-oriented guy than a markets guy. but i learned a lot of stuff in equity research that’s pretty applicable and we can definitely talk about that sometime. i’m at the same # so give me a buzz whenever. everything else has been pretty good too – moving into a new apartment, spending time with friends, telling people not to buy BSC shares, and so forth. girlfriend hasn’t picked up anything exciting from lululemon lately so i’m thinking about lobbing a few ideas. haha. a weekend in TO sounds like a good idea…maybe around august or labor day timeframe? what does turkish and 3L think? are any of the AF (or AFOT) ladies going to join us?