Over the last three years, the private equity business in New York City has consistently grown, while the rest of Wall Street has either shrunk or grown in fits and starts.
That’s according to from The Partnership for New York City’s report “At Risk: New York’s Future as the World Financial Capital.”
The report examines the sectors within the finance industry that gained and lost the most jobs over the last three years.
On average, pay on Wall Street has stagnated since the financial crisis.
And while some hedge funds and banks shed jobs in the wake of the financial crisis, no private equity firms reported staff cuts. They apparently all grew. At a time when some roles on Wall Street are vanishing forever, it should be considered a good sign for aspiring bankers.
Here’s the chart: