2024 banking gig? Praying for a coworker’s goodbye.

The banking job market in 2024 is not looking optimistic, with low hiring levels and a focus on cost management. The return on equity at US banks’ investment banking and markets divisions has fallen significantly, leading to the need for more cost-cutting measures. Bank of America recently announced job cuts, and headhunters speculate that 2024 could be even quieter than the previous year. However, there will still be some hiring to replace people who leave, and the hope is that the second half of the year will see increased hiring activity. Ultimately, the job market will depend on factors like interest rates, geopolitical tensions, and private equity investment.