Shows
Weekly IB Recruiting BriefMBA Applications Surge, Private Credit Is Overvalued, What is Recruiting Season (and did I just miss it)?In this week's IB Recruiting Brief, hosted by Meridith Dennes, key topics include the substantial increase in MBA applications for 2024, with notable growth at top institutions due to economic uncertainties affecting the white-collar employment sector. Pimco's CIO highlights concerns in private credit markets, and Wells Fargo's CEO discusses potential losses in commercial real estate. The recruiting landscape is dynamic, with a surge in demand for specialized roles in Energy Transition, Healthcare M&A, and Financial Institutions. Observations on compensation trends and technical modeling capabilities underscore the selective nature of today's market. Customized coaching sessions by Prospect Rock Partners are...2024-10-2705 min
Weekly IB Recruiting BriefInvestment Banking Bonuses: What to Expect in 2024Meridith Dennes discusses the current economic climate and its impact on investment banking recruiting. The episode covers potential bonuses for 2024 influenced by JP Morgan's positive economic performance, despite macroeconomic risks highlighted by Jamie Dimon. There is a surge in corporate M&A for VC-backed enterprise software firms. Hiring in healthcare, M&A, and elite boutiques is increasing, with a focus on candidates with strong technical skills and closed M&A deal experience. Although Wall Street bonuses are projected to rise, disparities may exist, with high-level executives receiving larger shares. Listeners are encouraged to connect with Prospect Rock Partners for...2024-10-1204 min
Weekly IB Recruiting BriefJobs, Jamie and Jumbo Credit MarketsIn this week's IB Recruiting Brief, Meridith Dennes discusses the impact of the current economic climate on investment banking recruitment, focusing on the resurgence of leveraged buyouts as interest rates stabilize due to recent Fed policy changes. The video covers positive employment data affecting future interest rate adjustments, Blackstone's growth forecast for the private credit market to $30 trillion, and JP Morgan's leadership concerns. Additionally, the video highlights gender parity challenges in investment banking and anticipates that the upcoming earnings reports from major banks will be key indicators of the sector's health. With private equity's substantial capital available and private...2024-10-0604 min
Weekly IB Recruiting BriefSeptember's Hiring Plot Twist, Understanding On-Cycle vs Off-Cycle PE RecruitingIn this week's IB recruiting brief, Meridith Dennes discusses the impact of the current economic climate on investment banking recruitment. With a quote from Ben Franklin emphasizing the importance of actions over words, she delves into how the volatile job market, marked by a rising U.S. unemployment rate, is affecting hiring practices. There are notable changes in managing junior bankers at top firms like JP Morgan and Lazard, shifts in senior lateral hiring, and the high demand for candidates with quantitative skills and deal experience. Challenges persist for laid-off industry professionals, and sector-specific expertise remains critical. The recent...2024-09-2103 min
Weekly IB Recruiting BriefThe First Cut is the Deepest? Nepo Babies & ESG Greenwashing, Celebrating 80-Hours Work WeeksIn this week's IB recruiting brief, Meridith Dennes discusses the impact of the current economic climate on investment banking recruitment. The conversation covers mixed economic indicators, such as potential interest rate cuts and market dichotomies, and their effects on hiring trends. There's a focus on 'quiet layoffs' impacting mid-level bankers, promotion bottlenecks and senior originator hirings. The episode also highlights new policies by major banks to combat junior banker burnout and sector-specific activity levels, emphasizing the importance of recognizing talent at all levels.
00:00 Introduction and Economic Overview
00:29 Market Trends and Developments
00:56 Impact of...2024-09-1603 min
Weekly IB Recruiting BriefBuckle up! Fed Moves, Hiring Sprees, Networking FailsIn this episode of the Weekly IB Recruiting Brief, Meridith Dennes discusses the effects of the current economic climate on investment banking recruitment. Key topics include the U.S. inflation report, the Fed's upcoming rate decision, and their implications for the sector. She highlights a notable uptick in recruitment, especially for Junior Analyst and Associate positions, emphasizing the importance of preparation, brand name experience, and closed deal records. The episode concludes with advice for job seekers and a promotion for new courses on Prospect Rock Academy. 00:00 Introduction and Economic Climate Overview 00:30 Key Economic Updates 01:09 Recruiting Update 02:00 Recruitment Strategies and...2024-09-0803 min
Weekly IB Recruiting BriefGoldman Slashes Jobs, VCs on the Struggle Bus, PE Slowly ReboundsGoldman Slashes Jobs, VCs on the Struggle Bus, PE Slowly Rebounds
In this episode of the Weekly IB Recruiting Brief, host Meridith Dennes discusses the impact of the current economic climate on investment banking recruiting. Highlights include post-Labor Day activity on Wall Street, uncertainty in job markets, and significant job cuts at Goldman Sachs. The venture capital industry is expected to see a steep decline in fundraising, while the U.S. private equity market shows some signs of life. The episode also explores the phenomenon of 'ghost jobs' and resilient M&A activity, with emphasis on strategic...2024-09-0204 min
Weekly IB Recruiting BriefJPM Tightens Policy on Analyst Retention, Return Offers are Out, Early Bonus IntelWeekly IB Recruiting Brief: Bonus Predictions and Career Advice In this week's IB recruiting brief, Meredith Dennis discusses the impact of the current economic climate on investment banking recruiting, including substantial bonus increases predicted by Johnson Associates for 2024 and the Fed's potential rate cuts. Additionally, the episode covers JP Morgan's steps to curb aggressive recruitment by private equity firms and provides valuable advice from Andrea Benson on handling a no-offer situation after an internship. Meredith also announces new courses at Prospect Rock Academy targeting undergrads, MBAs, recent grads, and laterals, offering insider networking tips and tricks with a special...2024-08-1103 min
Weekly IB Recruiting BriefNavigating the Aftermath: A Comprehensive Guide to Handling a No-Offer Situation After Your Investment Banking InternshipIn this episode, Meridith Dennes, Managing Partner of Prospect Rock Partners, and Andrea Benson, Managing Director at the firm, discuss critical strategies for investment banking interns who did not receive a full-time offer post-internship. Andrea shares insights from her 15 years on Wall Street, including 11 years in campus recruiting, on how to professionally handle the disappointment, utilize reflection and feedback, and develop a plan to reenter the industry. The discussion includes practical tips on networking, securing recommendations, skill development, and crafting a narrative for future job applications. The session concludes with the importance of staying positive and casting a wide...2024-08-0613 min
Weekly IB Recruiting BriefBack on the Olympic Throne, Bill and the Terrible, Horrible, No Good, Very Bad Day - Weekly IB Recruiting BriefKey Points: US rowing team wins gold in men's four event at 2024 Paris Olympics, ending 64-year drought Economy and Federal Reserve: Fed signals potential interest rate cut in 7 weeks Chair Powell hints at September cut Possible end to 2-year inflation battle Timing before election season could impact economic sentiments and recruiting strategies July Employment Report: Shows cooling job market Slowing growth and rising unemployment Contradicts previous robust employment narratives Potential impact on hiring across sectors Market Reactions: Investors betting on September rate cut Some pushing for half-point reduction Markets pricing in up to 70 basis points of Fed easing by...2024-08-0302 min
Weekly IB Recruiting BriefCan Snoop Dogg Save the Olympics? Analyst Bonus Watch 2024 - Weekly IB Recruiting BriefKey Points:
Economic Climate:
Stocks gained on Friday after a volatile week
New U.S. inflation data evaluated by investors
Fed funds futures market anticipating rate cuts for September, November, and December
Notable Events:
Bill Ackman's Pershing Square closed-end fund IPO postponed
Deal size reduced to $2.5-$4 billion range
Pricing expected next week
IB Recruiting Update:
25% of analysts received bonus figures (Japanese and Canadian banks, select independent advisors)
43% of bonus announcements expected in August (including Barclays, Goldman Sachs, Citi, Morgan Stanley)
Initial reports: analyst bonuses flat to down 10-15% compared to last year
Wider compensation bands, with top...2024-07-2802 min
Weekly IB Recruiting BriefGreen Shoots Again? Why this Time is RealGreen Shoots Again? Why this Time is Real
IB Sector Performance:
Q2 2024 was the strongest quarter since early 2022
Top five bulge bracket firms generated $8.2 billion in investment banking fees
40% increase year-over-year, potentially signaling an inflection point
Industry Perspective:
Characterized as "early innings" of a potential sustained recovery
Caution due to previous false starts
Ted Peck (CEO of MS) insights: Delayed recovery materializing, tempering inflation, normalizing rates
Current Recruitment Landscape:
Outlook: Cautiously optimistic
Firms focusing on integrating recent hires rather than aggressive new recruitment
PRP filled several roles in past 2 weeks, some urgent mandates remain
Anticipation of g...2024-07-2002 min
Weekly IB Recruiting BriefIB is 'Sort of' Back, Recruiting is Slow (Unless You're an MD)IB is 'Sort of' Back, Recruiting is Slow (Unless You're an MD) – Weekly IB Recruiting Minute
Economic climate impact on IB recruiting
Q1 2024 revenue increases: JPMorgan Chase (46%), Citigroup (60%), Wells Fargo (38%)
Growth across advisory fees, equity underwriting, and debt underwriting
Recruitment scene remains subdued despite revenue surge
Market uncertainty persists
Banks integrating recent hires
Seasonal factors (summer vacations)
Compensation issues (reluctance to offer full-year bonuses for partial-year work)
Economic factors affecting recruitment:
EY Parthenon forecasts 20% increase in US corporate M&A activity for 2024
Potential headwinds: high interest rates, debt refinancing focus, IPO market concerns, geopolitical instability, reduced pri...2024-07-1604 min
Shop The MovementAK Stout and Deb Evans are excited to have Kim Oksenberg, Co-founder Project Eve return as their guest. Kim will share why Project Eve joined forces with Accion to support "Shop the Movement - Support Women Owned Business."
"Today, women-owned business is one of the fastest-growing segments in our economy. Women in business have long played a vital role in shaping America's economy, proving that women have been and continue to be highly successful and competitive entrepreneurs." - Project Eve
"Project Eve is proud to join with Accioin, our retail partners and community members in a team effort to celebrate an...2013-10-3100 min