Hedge Funds And Private Equity Firms Are Poaching Young Bankers Earlier This Year
Flickr
Hedge funds and private equity firms have long lured Wall Street's best and brightest junior analysts, but poaching season has come early this year, according to a new report from Bloomberg's Zeke Faux.
Apollo Global Management began interviewing analysts last month, spurring other shops on the Street to do the same, Faux reports.
Faux writes that the "prestige gap has widened" ever since the financial crisis. It makes sense. With bank bonuses down (often placed in "deferred stock" instead of cash) and compliance up, moving to a hedge fund with higher pay and slightly better hours is more attractive than waiting around a bank to get a promotion.
Wall Street is definitely taking note of increased attrition, with top banks like Goldman Sachs and JP Morgan easing back hours on junior bankers.
- Average housing prices up 10% in Jan-Mar across the top eight cities
- Top visa-on-arrival picks for Indian explorers
- 451 million voters! First four phases of Lok Sabha elections witness 66.95% voter turnout so far
- Best hill stations near Delhi to escape May's heatwave
- India to surpass Japan, become world's fourth largest economy worth USD 4 trillion, in FY25: EAC-PM member