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Finance Industry Job Movement

February 24, 2010

LinkedIn of all places has posted a very interesting analysis of where employees from the three big collapsed investment banks (Bear, Lehman, and Merrill) went.

The really interesting thing here is how you can see the remaining firms consolidating talent. Finance is labor rather than capital intensive, and the quality of your people has a direct influence on your bottom line–hence some of the outsized compensation that is seen. This puts the surviving firms, in many cases originally less prestigious than their peers, at a real advantage as they poach top talent and expand their finance operations to a level unthinkable before the crisis. Barclay’s seems to be the real winner here, picking up by far the most number of employees from the three failed firms, and putting it in a good position to excel.

Another interesting insight–not many of these folks left finance. You’d think that with all of these firms going out of business and the market making historic declines, that many of them would have been unable to find work in finance and moved on to other fields, but that does not seem to be the case.

As with all analyses such as this, take it with a grain of salt given that the sample consists only of folks on LinkedIn that are reporting their career background, but it’s an interesting tidbit nonetheless.

See the original LinkedIn post for more.

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From → business, finance

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