When to time your move into M&A
Assuming you want to work in M&A and are able to exert full control over the moment of entry, you may wish to make a push for it in mid-2010. A new report from Bernstein Research suggests European deals and global fees will both start rising next year and remain comparatively strong until at least 2013.
Needless to say, if you mistime your M&A move, you will probably live to regret it. A weak market means depleted teams, long hours spent pitching, no real deals, and measly pay - as the analyst class of 2008 will amply testify.

Source: Bernstein Research