I'm going to try to make this as unbiased as possible, and if you can give me your opinion on which job offer you would take that would be really helpful.
Some key pointers before I begin are:
- My family currently lives in Miami, and if I worked there as well I could potentially have zero expenses for the first 2-4 years of working there.
- I love my family and get along with them very well, living at home would not be a problem.
Job 1:
corporate finance development role at large cruise ship company (won't say which just for my own sake).
2-year development program (4-5) different rotations within finance
After 2 years become senior financial analyst or possibly manager
68k starting salary with 5k bonus
In Miami, FL
Met with CFO and team, really like them all
Somewhat more friendly/relaxed environment
Opportunity for growth within the company is very big
Job 2:
Asset Management Group Development Program at PNC Financial
3.5 year program with Wealth Management (possible Hawthorne)
In Baltimore, MD
Required to get CFP or CFA within the 3.5 years
60k starting salary 5k bonus but each year salary grows ~10%
Obviously these two paths are completely different and the best answer is to follow whichever path I think I want to take in my career, so don't give me that answer. I want to know which you would choose and why. Keep in mind I do not have any friends or family in MD, and the fact that Baltimore and Miami are very different cities.
I would make (and save) a lot more money in Miami by virtue of living at home, but I feel like the opportunity for development (especially because of the CFA and the size of the bank) are just better at PNC.
Let me know what you think, I have to choose between the two soon.
I feel like money is worth a lot more at a young age (duh, discounting and all), thus Miami makes sense?
Also you could leverage your experience with the cruise ship company to become a travel industry expert and potentially move into research with this or consulting. Not sure if you interested in these options but it could be nice to live and work in Miami and save money.
I'd personally choose the Cruise Ship company. You can make decent money, save on expenses AND get discounts to travel the world. A lot of the money I make goes towards travel and vacation anyways.
Also worth mentioning is the industry itself. Cruise/Travel is growing while Asset/Wealth Management is declining.
In addition to the other people supporting the cruise ship route, progression sounds rather fast as well. If i had any interest in cruise ships thatd be my choice
I'd take the cruise co. You'll develop industry expertise, which "travels" with you for years after. The money is way better all things considered and the perks will be amazing. If you don't like it, you can always pivot: Get your CFA and go into AM/Research and/or go to grad school.
Just make sure you put in the hours. Even if facetime requirements are limited, make sure you live and breathe the co/industry for the first several months. There's nothing like a fast start. FYI, despite all this accept that you know nothing/are still learning. Best of luck!!!
If the AM role were on the institutional investment side doing fixed income or equity research then I'd say take the PNC job, but since it's wealth management, I'd take the corp fin job.
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