Corporate Treasury at BB Thoughts

I've been in Treasury my entire career, from a small O&G midstream to a multinational corporate and now BB (JPM/GS/C/MS) for the past 4 years. The smaller you go the more operational the work is, but also more directly tied to the key decision makers of the firm, especially since you develop a view of the company from a cash flow point of view and not purely P&L. It's a great setup to learn how to start your own company or manage a subsidiary. At the BB there are several options to specialize in that don't exist elsewhere (Risk, Liq Mgmt, FX / Rate portfolio mgmt, etc) but you have limited "broader" experience of the firm unless you move around within the department, and that kind of development takes time. From my experience it's a bit of a trade off. The money and structure is better at a BB, but the hands-on applicable experience you get by working directly for key C-suite guys at a smaller group is much more transferable to mid/small companies. The workload is longer at a BB. I work 8am - 6pm with longer hours preparing ALCO decks and topics to present to the board, as well as, other things like immediate regulatory requests. The ops functions include setting the daily cash position, building and strategizing rolling cash flow forecasts, booking FX/Commodity/Rate hedges, figuring out the best investment options for excess cash. But the pay is less. BB Treasury is not IB, but is full of ex-traders and business heads looking for a better work/life balance before retirement that would gladly connect you if you gain their trust. Remember the first job out of college is certainly not your last, so enjoy what you can get, learn a couple things and keep connecting with people in the next place you want to move into and then crush it.