Is it just me or has there been a noticeable brain drain in banking in the past few years? Analysts are not what they used to be.

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What did you expect? The allure of tech and consulting far exceeds banking- and it's purely a preventable culture problem. Senior bankers are solely to blame. Why slave away for such a long time for assholes, when you can make pretty good money elsewhere and proudly declare "I work for McKinsey/Facebook/etc" Of course the smart people are going elsewhere. And contrary to popular belief, it isn't because the money is less nowadays.

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^🤣🤣🤣

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Moelis at it again

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It's cause all the talent went to the boutiques

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Given I got a job... yeah.

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Looks like OP might have to do some more work

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It's solely driven by tech. Why work for a bank when you can get catered meals and go to work in jeans/hoodie everyday?

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Yeah

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^missing the point. There will always be a Facebook/Google

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Treat analysts better or smart people leave.

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Catered meals and jeans 😂😂😂 you think the pay/bonus is better in tech? Fuck no. It goes towards 💰 for your superfood organic meals and fancy office massages. It's called overhead. Google/FB still own your ass. The grass isn't greener kidos

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Agree

Grass is greener on the other side eh? I've worked with McKinsey guys on multiple deals with clients. Horrible work as an engagement manager. Client treat EM as their analysts. My associate and I were laughing our heads off

Yeah. Sure corporate is always an option. Today is FB / Google. Yesterday was someone else and tomorrow there will be more. Analysts are treated way better today than when I was one. Yet attrition is same level. Attrition goes up and down with the economy, not with how analysts are treated. BB banks in 1999 instituted casual dressing to counter attrition. Everything went back in 2001. It's the economy stupid.

There is something fundamentally different about this attrition cycle. Part of that is pay- its common knowledge that bonuses are lacklustre. Analysts are still treated like crap (I shudder to think how you were treated!) so for smart people, there really is no reason to join.

More like a brain clog and redirect to the pipes with better flow

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