In this episode of Other People's Money, host Max Wiethe sits down with High Yield Harry to examine the major trends in Wall Street compensation and careers, and why 2026 may be the year of the investment banker. Harry shares data from Buy Side Hub to detail buy-side compensation trends, career mobility bottlenecks, and why private equity professionals are resorting to non-recourse loans while waiting on delayed exits. The conversation breaks down the real threat of AI automation on financial modeling and grunt work, emphasizing why finance professionals must develop real-economy operating skills to survive. They also address the surge in private credit redemptions, retail investor panic, and whether buying small businesses is replacing the traditional mega-fund career path.
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Timestamps:
00:00 Intro
00:45 Year of the Banker
03:38 Private Credit Redemptions
07:04 Retail Flows and Gating
10:18 Comp Trends and Hiring
13:17 Career Pyramid Reality
15:13 AI Reshapes Analyst Work
17:16 Big Firms vs Small Shops
20:27 Operators and Real Economy
23:56 Agents and Human Edge
26:39 Who Gets Displaced?
31:46 Rates and Longer Holds
37:42 Software Credit Time Bomb
41:16 Choosing Your Career Track
47:22 Top Jobs and Trading
51:56 Closing Takeaways
54:03 Banking Cycles and Layoffs
57:03 Conclusion
