Since we are moving into a recession (99% certain) and I am currently pursuing a career in finance. What happens in IB? Surely all banks still run their IB but what roles are being cut? Do they stop recruiting entirely?

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They won’t stop recruiting juniors. Normally the underperforming VPs and directors get cut. Certain groups will get cut more than others - think ECM, tech, maybe lev fin. It also depends on bank - m&a only banks will get hit harder than balance sheet banks that can make money on other products. Just remember that recessions are normal and only last ~18 months. I think as juniors were pretty safe. This isn’t 2008.

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Thank you so much for taking the time to answer. I.e aiming for balance sheet banks as a analyst in corporate finance is still very viable despite the market conditions?

Can’t say anything for sure at this moment.

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