Citi’s junior bankers know their place

If you want to get ahead in investment banking it is time to hit the beach.

Differentiation is certainly alive and well among Wall Street banks. Recent commentary suggests that you would be forgiven for thinking that the investment banking analyst class these days is faced with just two options: get fired from Goldman Sachs or get tanned at Citi.

The Goldman chat has been sparked by the bank’s revival of its usual programme of cutting its lowest-performing 5% of staff each year – something that it had suspended in the pandemic.

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