Investment Bankers Not Hiring
A story on the pay for investment bankers in Investment Dealers' Digest may hold some interesting insights about where this city's economy may be headed, considering the financial sector helps set the tone. (Link via the Dealbook e-mail from The New York Times.)

The top 20% of investment bankers got the heftiest pay packages last year, with some rainmakers earning triple what they received in 2002.

And even though 2004 is looking better, Wall Street is still leaner and meaner than during the late '90s. Firms are unlikely to be going on a hiring spree or paying junior bankers much more this year.

"Banks can do 20% or 25% more business with the people they have," adds another recruiter. "They'll break people's backs before they hire more."

- posted by Amy @ 3/24/2004 09:33:00 AM