For much of the last two decades, bankers advising big companies have watched ruefully as they lost their once-dominant position on Wall Street to powerful traders.
The New York Times reports that now, the pendulum is swinging back toward the deal makers.
The bankers working on mergers and acquisitions are expecting a nice bump in their bonuses this year, while traders are bracing for their paychecks to shrink. Even beyond the short term, many people in the industry are betting that the conditions that have recently favored bankers are not likely to go away soon.
The changes in the market have also benefited bankers further down the totem pole, where there has been fierce competition for young analysts and less interest in young traders.
'There’s a huge oversupply of quality traders and not very much demand', said Adam Zoia, the founder of the recruiting firm Glocap.
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