What a difference a year makes. Just 12 months after many banks were drawing up lists of people to fire, now those lists are more likely to identify the star staff they want to lavish bonuses on.
Here is the City reports that many investment banking firms are being proactive about retaining their best employees this season. They’re carefully picking out the stars they can’t afford to lose, and increasing their salaries, bonuses and perks to make sure they don’t walk in 2010. They’re also taking steps to make their stars feel emotionally attached to the firm, such as more communication and sharing of information about the firm’s future plans.
If you’re not a part of that top group, however, don’t expect much coddling. Many firms would rather let a journeymen move on to another organization in order to make room for fresh investment banking talent.