Whos getting laid off first? Consultants or bankers

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Bankers by a million lol

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Our business is leveraged to uncertainty

At first I thought it said who’s getting laid first. That would be consultants. Laid off? Bankers. Deal flow dries up. Consultants still needed to help with restructuring.

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Bottom 5% at wherever

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I’m thinking bottom 10-15% at a lot of places. This is the correct answer though

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Usually bankers go first. Revenue is much more variable than consulting

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Bankers

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Bankers at the higher levels.
Low producing MD’s (for obvious reasons) and Directors/VP (don’t need execution experts if there are no deals) get chopped.
Associates and Analysts relatively unscathed as you need someone to fill out pitchbooks and pull comps.

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Consultants. Bankers aren’t convinced the recession is going to happen and they’re so well diversified, they’re prepared for a downturn. Layoffs will be small and sharp

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Good firms will still retain their employees by implementing hiring freeze.

We’re hit harder bc of our fee structure

Doinkers bcuz deal flow is shite

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