Do big banks ever do this for lateral analyst hires?
Recently got a lateral analyst offer for a coverage team at a big bank; however, I noticed that they had also posted another analyst position for the same coverage team. When I asked HR about this, he mentioned that the bank is continuing to expand and grow its US IB platform and, as such, they are looking to bring on an additional analyst to the team.
Given the waves of layoffs at many big banks right now as well as the fact that deal flow is still relatively muted generally speaking, I do worry partially about over hiring and then having to do layoffs later on when I join.
Generally speaking, do big banks hire multiple lateral analysts with the intention of seeing who's the best performer among the new hires and then terminating the other new hire lateral analysts?
Deal flow is predicted to pick up in the second half of this year. It's likely based on that prediction more so than overhiring and firing lower performers.
Even still with only 1 expected rate cut?
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