So How Should an Investment Banker Spend Their Recession?
There was a time when investment banking was a career path representing prestige and respect. After the effects of 2001 with the tech bubble bursting and the tragic impact of 9/11 we believed the worst had happened for the industry. In the years that followed we continued to build careers with the expectation of continued prosperity until this current credit crisis, after which we are now questioning what’s next. The immediate thought is to just get another job, easy enough. Another option would be to take some time off and ride out the storm. Although that sounds ideal, is it really a viable option? With the demise of the most highly respected investment banks in 2008, what can we expect for 2009? The media has prepared us for the worst predicting no jobs in investment banking for the foreseeable future. With all the negative press and talk of a severe recession what lies ahead for most bankers? The good news is that you have options.