Investment Banking

Rebel junior dealmakers stick with banking despite burnout: ‘The job market is a shock to many’

'There’s definitely a feeling of being safe at a big and stable bank if you are performing well'

A declining economic outlook has forced many juniors to rethink quitting banking
A declining economic outlook has forced many juniors to rethink quitting banking Photo: Getty Images

Junior bankers are no longer revolting. More than a year after an uprising from a group of Goldman Sachs analysts, which prompted widespread pay hikes and an exodus of burnt out rookie dealmakers, many are deciding it’s better to stay put.

Banks have struggled to stem an exodus of junior bankers, with highly-qualified young dealmakers quitting brutal 100-hour weeks in the sector for everything from technology, fintech, crypto and private equity.

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