Wall Street is Poaching Bankers in a Red-Hot Job Market

Dealmaking is picking up, and big firms are hunting for more bankers, even as hiring slows in many industries.

Big banks had been adding staff over the past year in strategic expansions, but now sudden jumps in activity have them seeking to hire even more and slowing layoffs they might have otherwise executed.

“The arrow is pointing upwards—they’re thinking of increased head count and taking advantage of the boom that is coming,” said Alan Johnson of compensation-consulting firm Johnson Associates.

The hiring is focused on senior bankers who bring with them connections to make deals happen, he said. The big five investment banks are poaching high-profile bankers from each other and competing against private-equity firms, too.

Wall Street Journal / September 23, 2025