Currently in a corp banking role focused on leveraged lending across a few industries.
Comp / hours is solid, but can’t help to feel 70% of the work being done is mindless, check the box admin activities.
Hoping to get into something a little more thought provoking. Does this exist anywhere at the junior level?
Same spot as you - I had a similar post, and the conclusion is that it doesn't get better / admin portion doesn't change even as roles change unless you're lower into the capital stack / hairier situations.
Seems like you're a year ahead of me though so maybe the work lost its luster already, but what I've found is automating that admin/grunt work to be quite fun or even running processes 0 > 1.
Just read your thread. Great stuff in there.
Admin/process work is inevitable, just hoping for a better ratio. IMO, there is nothing worse than having spending hours on unnecessary analysis for the sake of making regulators happy. That said, have learned a ton in the senior secured space and still do daily.
Intuitively, it makes sense that moving down the capital stack would involve less administrative work. I think that’s the next move.
It would be great to hear from someone in this thread who has made that transition.
Based on the most helpful WSO content, it's not uncommon for junior roles in corporate banking to feel administrative or "check-the-box" heavy, especially in areas like leveraged lending. However, there are paths within or adjacent to corporate banking that can offer more intellectually stimulating work:
Investment Banking (IB): Transitioning to IB could provide more challenging and thought-provoking tasks, such as valuation work, deal structuring, and client advisory. Many corporate banking analysts successfully make this move, leveraging their experience in financial analysis and deal processes.
Capital Markets or Syndications: These roles often involve more dynamic work, such as structuring and executing deals, interacting with markets, and managing investor relationships.
Corporate Development: If you're interested in working directly for a company, corporate development roles involve M&A, strategic planning, and internal investment decisions, which can be more engaging.
Private Equity (PE): While a tougher jump from corporate banking, some analysts have transitioned to PE, especially if they have strong modeling and deal experience.
Specialized Groups: Within corporate banking, moving to a group like Asset-Based Lending (ABL) or industry-specific teams (e.g., healthcare, tech) can provide more niche expertise and interesting challenges.
Risk Management or Credit Strategy: If you're interested in understanding businesses fundamentally and managing risk, these roles can offer a more analytical and strategic focus.
If you're looking for something more thought-provoking, consider networking internally or externally to explore these options. Additionally, enhancing your technical skills (e.g., advanced modeling, certifications like CFA) can help position you for a transition.
Sources: Corporate Banking?, 2017 Commercial/Corporate Banking Bonuses, Interesting (Post-MBA) Exits from Banking, Why corporate banking instead of investment banking?, https://www.wallstreetoasis.com/forum/other/commercial-banking-relationship-manager?customgpt=1
Went from CB to private credit, can confirm there’s less admin and it’s more interesting
Was ur CB experience modeling heavy?
kind of. Def modeled but it was pretty basic stuff
Corporate Banking seems great for the 50+ year old cohort that doesn't do much other than "maintain relationships". No clue what the comp is but I assume it's pretty nice for the work/life balance?
Of course I'm not sure how you get there other than just dealing with the mundane for 15-20 years.
Dream job for 50+ cohort.
Hours aren’t bad, I’ve had slow weeks that only required 30 hours and busy weeks where 75 was necessary. I’d say it averages about 50-55 a week.
Comp is 100-110 base + 25-40 bonus as AN2. Trying to decide whether to stay for ASO promotion or not. Almost certain I will get one this cycle. Would be leaving immediately after promo/bonus.
I've never gotten a great answer as to "how much money does the 50+ year old WF/JPM/C/BOA relationship manager make?"
Gatekeeping smh
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