{ "media_type": "text", "post_content": "One of our tenured EDs left and we subsequently hired an Associate (that will be promoted to VP) to take the spot… i found it very weird how mgmt didn’t hire some equivalent in yrs of exp and hired someone with substantially lower experience. What is the rationale here? Was it to perhaps lower the budget?", "post_id": "6169ff0a318d1b002c21702f", "reply_count": 4, "vote_count": 2, "bowl_id": "553769a790f5eebe1d2a0f92", "bowl_name": "Finance" }

One of our tenured EDs left and we subsequently hired an Associate (that will be promoted to VP) to take the spot… i found it very weird how mgmt didn’t hire some equivalent in yrs of exp and hired someone with substantially lower experience. What is the rationale here? Was it to perhaps lower the budget?

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Entirely cost driven. Banks have been cutting costs anywhere they can, and juniorfication is one of the ways they’re doing it. Wonder how long they can keep trimming the fat before they cut bone.

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What’s ED?

Thanks!

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