Hey all,
I have to choose in the next couple of days between 2 offers:
1) Lev Fin
- Leading French bank with a good track record in debt and particularly leveraged loans
- 1 year fixed term contract; salary enough to do live ok but no bonus
- No chance of extended full time offer in the same team regardless of performance
(...edited)
2) Corp Dev
- 1 year fixed term but with a solid chance of full time return thereafter; better salary at least in the beginning
- Team closes several deals yearly executing fully inhouse
- Experience should be good (lots of responsibility early on, view on strategy, exposure to leadership)
(...edited)
I feel that I have an understanding of the difference between the 2 (done extensive M&A internship in the past and I understand that Lev Fin is a debt product team with certain characteristics); can see myself doing both.
LevFin offer requires a lot of compromise as you may see, and yet seems to be the gate for "greater" things down the road. Cor Dev seems to offer a solid way to build M&A exp, but it seems to limit me e.g. industry-wise, geography-wise and what not.
I do not want to be that young kid that chooses LF because he drank the kool-aid and has irrational expectations of grandeur. But I do care about making the choice that will position me best for the future.
Would be grateful for your views! Please avoid name guessing etc to keep the page "clean"
If levFin is origination then consider it, if its Capital makets don't and go for Corp Dev.
Both can be good roles depends what you'd want to do in the future too. Ie PE, investing, M&A, Corp Dev, Corporate ladder etc.
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tough choice honestly, markets may go west within a year and your LevFin skill set will limit you to non existent levFin roles. There is no wrong decision imo, just a risk/reward ratio to consider. LevFin is obviously the higher risk choice.
To your point about lateraling industries as the firm seems to cover both tech and manufacturing you should be fine as long as you find a way to spin your story. Feel free to PM me with more details.
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At the margin I'd say lev fin. The IB experience will be valuable, look good (forever) on your resume, and position you for lots of exits.
But separately, I've never heard (even in EMEA) of a one year fixed contract with literally zero chance of a longer term role. Where does this bank get junior people? Is this their version of an analyst program, except shorter and with a no-promotions policy? Seems odd that they would constantly want to retrain brand new people every year. And it might be a red flag as to how substantive your work is actually going to be.
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