Bank of America Q3 Weakness Signals Softer Hiring and Bonus Outlook Across Major Banks

NewsData.io · United States · Sep 15, 2026

Bank of America CEO Brian Moynihan warned that Q3 performance is tracking below the first two quarters, with investment banking fees industrywide down 10% and BofA's own fee revenue likely to miss analyst expectations. Citigroup's CFO signaled further severance increases and job cuts through year-end, while BofA's cautious outlook dragged shares of Goldman Sachs, Morgan Stanley, and Citi lower — a bearish signal for hiring and bonus pools across the sector. On a brighter note, Deutsche Bank's investment bank is actively expanding, adding 60 bankers globally with particular focus on London. Entry-level tech job postings in New York City have fallen 49% since 2022, a trend with downstream implications for financial and professional services recruiting.