BB investment bank FPA gig vs. commercial bank FPA gig
I want brutal honesty here.
Currently an Analyst at relatively large commercial bank (upward of 50B in assets) performing corp dev/fpa role. did a rotational program. Heavy modeling and exposure to senior management.
I just got an offer at a bulge bracket IB doing solely FP&A. New role is more accounting driven. Doesn't seem to touch a lot of the previous areas I have performed but will teach me a ton of accounting topics and will let me learn a new business (wealth management.)
Current comp is okay at 75K + 5% bonus. New comp would be around 110k w 10-15% bonus.
What do you all think? What should I take? 2 years of experience. Looking to go to M7 business school and potentially do a rebrand. Open to IB but not really targeting it
This is an absolute no brainer. Take the offer. You are probably worried about doing less modeling and more accounting but since you already have the modeling skills, you can always spin your story for your next role in the future. For FP&A opps, its really more about telling the story and you can pick up the necessary skills as needed. And to your point, having a sound accounting knowledge is crucial for upper management roles. Having BB + FP&A on your resume will set your career for life pretty much in the corporate world, if you stay on that path. Large picture - this is not Top 50 IB vs Top 5 FP&A. This is simply just Top 50 FP&A vs Top 5 FP&A.
By the way, that's a great fucking comp for 2 yoe, even for HCOL and this crazy market. Congrats, and you will be dumb for not taking it! If you end up targeting MBA admissions in the future, then even more of a no brainer, like the two options are not even close.
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