Like all the bubbles that eventually become unsustainable and burst, I-banking as a profession has also become a bubble. As they say, when everyone recommends buying a stock, one can be pretty certain that the stock is going to tank. Similarly when everyone thinks the best and most sought after job is being I-banker, it is likely that it  is going to suck/ disappear soon.  A whole host of people have lined up to become i-bankers in the recent decade. My guess is, it is the glamour and money that has made the profession attractive. A question like “Would you do , what you are doing, if no one paid you ?” would be totally meaningless question  for most of the people working in this profession.

Cohan’s article on Bloomberg gives an indication of the bubble burst.

Link : We are witnessing the decline and fall of the investment-banking profession as we have known it for the past 40 years.