Can Snoop Dogg Save the Olympics? Analyst Bonus Watch 2024 - Weekly IB Recruiting Brief
Key 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 performers receiving higher payouts
- Advice: maintain professional discretion regarding bonus discussions
- Future Outlook:
- Another round of layoffs anticipated in October
- Gradual increase in mid-level hiring (Associate 2 to VP2) expected after Labor Day
- Hiring trend dependent on continued positive M&A activity
