The New York Times DealBook column has reported that the bun fight for analyst talent has started even earlier this year, with private equity firms like Blackstone and KKR going head-to-head with the likes of Goldman and Morgan Stanley to bag top talent.
The column quotes an unnamed senior partners in a private equity firm, who said: Five years ago, it (the fight for analysts) happened in September, then July, then May, then April. This year, it's March'. And some of those signed-up on campus won't actually start their Wall Street careers for a full 18 months, until after they have completed their studies.
'It's a land grab', the senior partner continues, 'And it's a land grab for completely undeveloped talent.
Finally, The Wall Street Journal provides some insight into the attitude of HSBC in Asia on what motivates staff to join the firm. The newspaper quotes the bank's Asia business head, Peter Wong, who said: 'Staff are motivated by growth. Second thing is what is their part in growth ? Money is important, but what is their career path ? You must differentiate and make sure you reward your good performers. If you don't, your good performers will leave. You also need to have passion - if you don't, staff will see right through you'.