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a derisive phrase in investment banking — a "boom hire" — to refer to bankers who were added during the overwhelming rush to satisfy the needs of this period but whose credentials would never have otherwise passed muster.

Author and Columbia Business School professor Jonathan A. Knee mentioned boom hires in his memoir The Accidental Investment Banker.

This use of this phrase has also been extended to refer to unqualified people within the financial services industry.
David: John is a fucking idiot. Why did HR hire him?
Alex: He was a boom hire. Dont worry. The colors all come out in the wash.
David: Good. His work product is fucking garbage.
by danny foshizzle4 April 07, 2010
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