Hello all, appreciate your help in advance.
Coming from unique background - do not want to get more specific than that, but all else equal, would like to hear pros and cons of Analyst track (let's say 2nd year analyst base) at established BB in S&T but on rotational program so no desk assurances vs Grad program entry- (I know most firms aren't hiring out of MBA but work with me for the sake of argument) initially in sales at MM but possible move to trading after proving myself - growing player probably under equities umbrella writ large - could still be derivs/futures and even vol/delta one inside that.
Concerned less about short-term comp than about career trajectory, which admittedly is difficult to predict in the S&T space.
Have been mulling this over last few days, and have signing deadline soon.
After asking about my current comp, BB came back to me with a higher offer - slightly higher than original offer and a relocation kicker, and HR stated that Total comp would be taken into consideration come bonus time, which implied that I would be at higher band of bonus spectrum next year for analysts all else equal. Also said guaranteed base increase year 2. Also still get stub in Dec. Contract is in hand. It is higher possibility of both Sales & Trading exposure.
MM also had phone call with MD who interviewed me but was not HR. He was waiting for HR green light, finally got it to put me in graduate program and said documents should be shortly forthcoming but knew I had a tight deadline and I asked him for a ballpark sense of salary. He said the "normal out of college kid" gets what we know is commonly analyst base around these parts with about a 30% of base bonus in the Spring. He said, however, given your work experience I want to push you to get the post MBA level of comp, what MM is calling graduate program. But I would definitely start on sales desk (no guarantees on trading) - he said 90% of it is getting here.
Offer was BB Offer +20K as a base - but no relo...so total 10k delta for year 1 but from position standpoint at different starting threshold. Also said would mean a graduate level bonus. No implied stub no implied future salary increase but he was the one who interviewed me and is much less formal guy than the HR folks at BB. Still awaiting paperwork. Very few data points out there on the web for them.
Thoughts? I'm torn between the following:
BB - established, great training pipeline, known various metrics in comp, deep products and global, higher initial possibility of Sales AND Trading, lots of people who were once in my situation who shepharded me through process who also have anecdotally established reputation for quick advancement (as in I know who they are and it definitely happened) - from their experiences, many made associate in year 2 as high performers
MM - less of a grinder culturally (and I don't mind a grinder at all personally), possibly higher upside potential with growth phase, large untapped balance sheet, uncertain future, more conservative culturally (good and bad simultaneously), relatively shallow product offering, and more domestically focused than BB, I would start on Sales desk and possibly move to trading, not necessarily NY focused
Many thanks
BB - unparalleled training program, awesome on the resume, plentiful exit opps
You can always lateral to a MM firm. It will be much harder to lateral into a jr S&T position at a BB, unless you start as a first year.
How far into your career are you? Aka how old are you? Would starting at an Analyst position and working your way back up to the chain be too long/tedious for you versus starting at an Associate and moving up from there?
PM coming your way.
Then it's really up to you if you want to start out from the Associate level and 'skip' the analyst years, or if you're fine shooting the shit with analysts who will generally be 22-24. I would say that if you know the people at the BB are gunning for you and can mentor you, then go with the BB. It's what you want to do, it's a better brand name, and you have mentors all around you. Do you start at a lower rank? Yep. Does it really matter in the long run if you want to be there for a while doing what you love? Absolutely not.
Bump
I would take the BB as the MM is Sales and no actual guarantees for trading.
Appreciate that - is there a salary differential that would make you change your mind, regardless of the already mentioned factors?
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