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Barbarians Here Again as Buyout Firms Poach Junior Bankers; ‘Perfect Workhorses’

Bloomberg – Wall Street’s Class of 2013 is being poached earlier than usual by private-equity and hedge funds, showing it’s going to take more than Saturdays off for the biggest banks to keep their most ambitious employees.

The rookies, who typically graduated less than a year ago and already earn at least $100,000 annually, are being lured by offers that can double their salaries, bankers and headhunters said. Apollo Global Management LLC, which finished raising an $18 billion fund in December, began interviewing investment-bank analysts in February, helping kick off investment firms’ recruitment about a month earlier than in past years.

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