“They Would Never Replace a Citi Banker with One from Wachovia”: Bankers on Why They Will Keep Their Jobs (And Why You Will Not Get One)

by Dan Haley | October 3, 2008 at 11:30 am
Amid all the hoopla about the vice presidential debate, you may have noticed that the Dow tanked again yesterday. Wait, you didn't notice? You were too busy picturing Sarah Palin running naked through the Alaskan wilderness? Well, the Dow dropped around 350 points--in other words, we're back to Monday. Things are looking bleak. But believe it or not, not everyone on Wall Street is going to be fired. Ron, a pseudonymous Ivy grad working at Citibank as an analyst explains why he's confident:
No stop it. I'm not the least bit afraid. They would never replace a citi banker with one from WB (Wachovia Bank). Today, during interviews, when they rejected a kid, they joked that he was "a BofA kind of guy." And BofA (Bank of America) is better than WB.
Bank of America is for losers? Tell us something we don't know. But you know who's really going to be losing out? You, if you're applying for a banking job this year. According to Nathan, another pseudonymous Ivy banker working for a boutique i-bank:
The class of 09' is done. They can kiss their banking/trading careers goodbye. Let's just say [unnamed bulge bracket i-bank] analyst class this yr was around 70 kids. In 07, it was around 130 kids. This yr (09') I predict around 30-40 kids at most.
After the jump, Nathan tells us why he will also keep his job. Read the rest of this entry »

Comments 2 Comments | | Print This Post Print This Post
Tags Read more: , , , ,