PNC Corporate and Institutional Banking

So the superday will be in Pittsburgh and the positions will be Corporate Banking (Cleveland, Philly, Pittsburgh, Chicago and Charlotte) and Business Credit (Philly, New York/Northern New Jersey, Charlotte, Dallas)

superday is this upcoming Friday, and Turnaround was pretty fast had the 1st round on a friday and was notified on monday about the superday

Sorry to hear it! Keep moving on. Focus on other interviews.

Out of curiosity, did you apply via OCR? I tried applying online, but I can't find a way to apply online for the positions like OP mentioned.

With corporate banking at PNC, it seems that there are several different lines. If you do product support / sales, probably not as much. If you're working with some of the big clients in underwriting and do intensive financial statement analysis, analyzing capital structure, it can potentially transition to DCM type of banking. My interviewer told me that there is mobility for corp banking development program people to transition to PNC's capital markets, which is definitely useful for DCM banking later on.

I know of ex-PNC workers in MM IBD.

bpenn1:

I will also be at this super day next Friday so good luck Corp. ER, you've provided great insight into CB and BC and I was wondering if you could speak on the Treasury Management Sales, Product and Healthcare segment within C&IB program.

EDIT: I just realized they are not currently recruiting for this position based on the recruitment paperwork only focusing on CB and BC but am still interested in your take to better understand opportunities down the road.

Yeah, sure. So TM is a huge growth opportunity for PNC. The name of the game for PNC right now is cross-selling. Because rates are so low, it's hard to make any money on credit only deals (deals in which a line of credit or loan is the only product). So to supplement that, we try and cross sell different business lines to our existing clients to form a deeper, stickier relationship. This can come in the form of TM products or other things like capital markets products.

TM itself is all about managing cash, receivables, and payables for client. It has a pretty diverse product set depending on what the client needs which is why it's always pretty easy to find at least something to sell to every client.

Good luck to you also, hopefully we may run into each other at the dinner.

It's the lending business, not related to I banking.... Should you go to the interview? Well, do you have any I banking offers? If not, you should be willing to take any job. If you do have something better, than perhaps you shouldn't go.

well its for the summer. I assume that I will hopefully get some offers and interviews once recruiting really kicks off. aside from that, if they do not deal with anything financial markets related, then it does not interest me. would it be good practice or will the interview really not compare to a banking one.

I just think it will be hard to sound enthusiastic about a job i really wont care about and prolly not accept. worth the practice?

Sure, go practice. Some questions they ask will be the same as Ibanking..... But if you're really busy starting a business, studying for CFA/CPA/CMAT or something like that, then don't go. But if you got some free time, go practice.

So their Corporate Banking also includes an investment banking piece, i.e. their loan syndications and asset backed groups. These aren't your traditional M&A ibanking units, but they still fall under the DCM portion. I have a friend who interned in loan syndication and enjoyed it. It's definitely worth your time if you don't have an offer yet. Their acceptance rate if you make it to the second round is also pretty high.

did you apply online?

no, i posted my resume on my schools recruiting site.

it doesnt say where the position is, does anyone know where they do their business?

Phili, Pitts or NY

They are headquartered out of Pittsburgh, but they also have offices that have open positions in Philly, NY, Chicago, Cleveland (Legacy National City Bank)...might be a few more.

It is not real banking, I would stay away if IBD is your goal.

Pay is pretty good, especially for Pittsburgh (if you're OK with working there). If not, I'm pretty sure you can easily be placed in Philly. PM me if you have questions. I am very familiar with the program (from the area) and have a few friends that are in it on a full-time basis now.

Definitely more on the Capital Markets side, but they have loan syndication and abs groups that seem like they'd offer a good experience.

I've got the same question. On their website, they also have M&A listed, but that's related to HW, so I'm guessing we aren't going to be able to interview for that...

How would this position look for a sophomore? Better or worse than something in PWM or Asset Management?

I did a corporate banking gig over the summer. For me, it was what I made of it. There was no formal training program. I had to make an effort to learn as much as I could and to get as much deal exposure/underwriting experience as I could in my 10 weeks.

Actually, the group at the BB that I have a FT IBD offer from liked the fact that I at least knew the fundamentals of debt. In the interview, we talked a bit about the entire underwriting process, covenants, and the transaction that I worked on.

If you cannot get an investment banking internship, corporate banking experience would be a better experience than PWM (you can always do that during the year part time).

what kind of knowledge do you need going into an interview for it? Is it mostly fit?

For my group, it was not as intense as IBD. But I still got some technical questions but all had to pertain with the job. Questions focused on metrics to analyze and things to look out for when determining whether a loan should be given out.

There were, of course, all of the fit questions (where you see yourself in 5 years, why corporate banking, strengths/weaknesses, etc.).