This piece explores the fast expanding world for junior investment bankers, the hottest commodity in the finance world. Recruited barely out of undergrad, young investment bankers are commanding high salaries as private equity firms like the Blackstone Group and Bain Capital are tripping over themselves to hire the newest talent first. At the same time, Silicon Valley has an equal hold on young entrepreneurs, but equity firms remain the most lucrative in terms of compensation, hitting 6 figures with ease.
Read an excerpt of the article written by WILLIAM ALDEN AND SYDNEY EMBER:
They are only in their early to mid-20s, but some young bankers on Wall Street are the most sought-after financiers around, with lucrative pay packages dangling before them. Junior investment bankers who graduated from college only last year are being madly courted by private equity firms like Apollo Global Management, the Blackstone Group, Bain Capital and the Carlyle Group in a scramble that kicked off last weekend. After back-to-back interviews, many are now fielding offers for jobs that won’t start until the summer of 2016. This process has become an annual rite by private equity firms, which raise money from investors (like pension funds) to buy entire companies. ...read more