How many investment bankers stand to lose or have already lost their jobs?
Posted by admin on Aug 31st, 2008
Maci asked:
I almost went into investment banking but opted to go to school for a more traditional profession instead. With the current downturn, I’m wondering about what might have been.
I almost went into investment banking but opted to go to school for a more traditional profession instead. With the current downturn, I’m wondering about what might have been.
What is the employment outlook for I-bankers?
I don’t know how many have lost their jobs or stand to do so, but I’d say the overall outlook isn’t great for the next year or so. However, it really depends on a few criteria like how well the individual bank is faring in the current climate, and which area the bankers are working in (e.g. mergers and acquisitions aren’t doing a lot of business at the moment). It also would depend on how good you are – if you clearly stand out from your peers they more likely would have taken you on even if it’s not the best timing now, as it’s about making a longer term investment in the bank and you. After all, the long term outlook for banking jobs is still excellent, as they still make the economy run, and make a lot of money for their banks.