How many analysts do you hire each year?

Our analysts generally stay about two years and then go on to graduate school, so every year we replace almost half of our analyst staff, which means that every year we hire, firmwide, about thirty analysts. Few analysts leave PHB to work for other companies; since we are looking for a specific set of skills and attributes, the analysts we hire are almost always a good fit with us, and we for them. Our turnover rate, therefore, is fairly predictable.