AFTER A DISMAL decade, bankers of all stripes had reasons to be cheerful last year. Eighteen months of soaring corporate dealmaking generated blockbuster fees for mergers and acquisitions desks. Their counterparts in debt advisory played midwife to a deluge of newly-minted bonds. Bouts of high volatility buoyed traders’ revenues. The dealmaking frenzy may have cooled a little in 2022, but lenders are licking their lips at the prospect of sharply rising interest rates.
One popular line of argument holds that banking is the victim of a generational shift. Everyone from hiring managers to university careers services reports that young workers care less about salary and more about work-life balance. Most of all, they want to work for a company with a clear social purpose. All of that puts the recruitment model for traditional financial firms—high pay in return for gruelling hours, and work with a social value that is not immediately obvious—at risk.
All that equates to an avalanche of work for investment bankers. The industry’s staffing model, meanwhile, is ill-suited to spikes in demand. “If the large banks aren’t able to pay their best people well, they lose them all,” explains one headhunter. The only way to do that and remain profitable is to be ruthless about headcount, running teams with “very little fat” in normal times.
That works in banks’ favour for recruiting junior staff: their graduate schemes are still seen as excellent preparation for a career. But it also puts pressure on attrition rates in an industry already known for the mercenary outlook of its employees.
Why is this pic full of skinny mens butts? One looks like he’s sitting on the post! Terrible shot!
Does Reese-Mogg really think the EU's patience is limitless by kicking the legally-required Food Checks down the road for yet a fourth time?
Horses 'wink' with their vaginas when they are horny.
Meanwhile:
The multi industry labor shortages are baffling. Where did all the workers and professionals go that were competitively vying for these jobs in previously saturated candidacy pools? Did covid kill them off? Are they just in mom's basement or couch surfing? Where are they?
Smart people are leaving the banks and going to work in the crypto world.
Sound like my club - Manchester United
Must be the tight pants required to be worn at the office...can't imagine why else you would run the article with that accompanying image.
Too many stories of how they exploit workers to the maximum
Horses 'wink' with their vaginas when they are horny.
Talent is fleeing to Blockchain
Like decoding to increase interest rates on individual accounts? Any fool can do that .
Not even close to cybersecurity.
Wonder if it has anything to do with college being unaffordable for countless Americans. A trip to a college bookstore is all it takes to understand how much of a racket it truly is.
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No one volunteers to work in the center of chaos! No matter what the pay! Making sense of chaos is not possible. Momentary views may be possible; but are usually late viewings after the fact and not actionable due to lateness!
remember the subway in the 60's+70's? If you forget history you're doomed to repeat.The only people willing to work at the office are kept in the background.If you can afford to get out,leave.Take a statute that has no meaning with ya.
The time is fulfilled and God's Kingdom is at hand. convert and believe in the gospel. - Jesus Christ I give you a new commandment, that you love one another as I have loved you; that you also love one another - Jesus Christ
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Their work hours are brutal. Pay has declined.
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US banks: Main Street may trump Wall Street this earnings season\n\t\t\tLet our global subject matter experts broaden your perspective with timely insights and opinions you\n\t\t\tcan’t find anywhere else.\n\t\t Depends on which mainstreet they are talking about Weren't they on Dirty Money?
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