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The Harrison Rush/Fire Drill Weekly Wrap-Up

A Brief, Reliable, Rundown of the Investment Banking Recruiting Market.

MARKET UPDATE

There is a moderate flow of hiring at the investment banks. Much of the hiring is a result of natural turnover, such as people leaving after they get their bonus. Global investment banking fees fell 4.8% in the past twelve months, and the deal total has fallen 25% in 2025, which is a 20-year low (Dealogic, Reuters). A few megadeals were announced last week, giving a renewed sense of optimism as we head into Q2. Associates and junior VPs are in demand in TMT, M&A, Power and Utilities, and Healthcare. Managing Directors in Infrastructure Software and B2B software are also needed. Strategic and Financial Sponsors have cash and want to do deals, but uncertain federal policies and geopolitical concerns are causing anxiety in the markets. We expect things to become clearer in the next couple of months, which will result in an increase in sell-side & buy-side M&A.

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