Goldman Sachs & JPMorgan are on a hiring spree for experienced junior bankers

Junior banker hiring is making a comeback. JPMorgan was spied hiring junior bankers last month. It's not alone, and the hiring comeback isn't simply in New York.

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Goldman Sachs' EMEA banking recruiter, Mike Ivory, has been broadcasting on social media that the bank is looking for "junior M&A analysts" with one or two years' experience in London. Goldman is currently also looking for a restructuring associate in the City and is hiring three technology media and telecoms (TMT) associates, among others, in the US. 

JPMorgan's junior banker recruitment is even more enthusiastic. The US bank currently has 14 vacancies for associate level investment bankers in London alone, with some of those roles also open to "experienced analysts" with "relevant full-time prior experience" in particular sectors. 

Citi is also looking for nine investment banking associates in London. Among the big US investment banks, only BofA and Morgan Stanley aren't (yet) participating in the hiring spree. 

Investment banking recruiters in London tell us they've noticed the warmer hiring climate and say it bodes well for 2025. "Hiring paused for between 6-12 months in the US and UK, but now we have the situation that often arises at this point in the cycle whereby as soon as business picks up a bit, banks find they're short-staffed," says Logan Naidu, group CEO at Kernel Global, which includes front office recruiters Dartmouth Partners.

Laza Cetnik at London investment banking recruitment firm Pretraga Partners, said hiring seems to have picked up in the past six weeks. "It's been busier ever since the end of September," he says. "Getting the US election out of the way, and this week's rate cut should fuel this further."

Andy Pringle at banking recruitment firm Circle Square said the recovery in demand for junior bankers risks creating skills shortages as family offices, private equity and private credit firms all chase the same experienced junior staff. "2025 is going to be a record year for hiring," Pringle predicts. "And then there will absolutely be a shortage of talent all over again. Banks have let go of loads of people, a lot of people have left the market, and some of the people trained at home during the pandemic aren't seen as very good. That will leave a small pool of strong talent in the junior and mid-ranks." 

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