Career ruined by CS
I was in IB, 5th year, until my whole team was let go few weeks ago.
I now joined a corporate, took a massive 50% pay cut. That’s the best job I can find.
Expect much slower career progression (title, salary increase etc) at the corporate. Money wise, 1 year at IB was like 2 years at my new corp now, if you factor in future promotion that I could’ve had at IB, 2 years in IB are now like 5-6 years at corp.
Feeling I’ve fallen from heaven money wise. Also I lost what the IB platform used to be able to provide me. Now my career at a corp seems much more restricted and slow. WLB great though but I’m 29 only and don’t want to give up my career and aim for WLB only. If my corp pays me 50% more, I would stay long term. Obviously this is impossible. What is the next move for me
Was in a similar situation (ignore A2 title). The simplest advice I can give is to continue recruiting for IB roles while at your new Corp position. If you care about pay/progression, banks would be willing to take you back assuming you are half competent, but it’s not the best market right now. By taking a corporate job, banks will see that you likely got laid off, but will see the motivation to come back once the market gets hot again. Keep your head up, dust off your resume and continue recruiting. You’ll get back on your feet soon enough, if you try hard enough!!!!
You’re a finger pointing crybaby (arguably a dummy too) for sitting at CS for 5 years, especially through the merger…and thinking you’d be totally ok.
people have been pointing to severe and rampant issues with CS for almost 10 years. And they’ve had 3 CEO scandals? I’ve lost count
A bit harsh since everything more or less seemed like it’ll work out till mid to late 22 and even then the situation only became dire once the ubs stuff came out at which point the banking market was long dead
Similar situation here, the only difference is I’m still unemployed. Happy to take your job if you don’t like it
What’s up with the over moderation on WSO. Why is everything getting moved into JOB or OFF from IB even when clearly relevant?
If you want similar pay to IB then you need to get into PE
Hey, how about B School?
You are still 29, you have IB experience, and together with corporate experience, which will help you to differentiate yourself from the host of other IB folks.
Assuming you can get a good GMAT, guessing you can break into M7, T10. You can ride out the job market slump, get a network, and a supposed qualification, and come back to the market strong.
Good luck!
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