Need advice between CB or PC
I’m in a LCOL city making probably 95k-100k all in at large commercial bank as an An1. WLB is fantastic considering I can’t remember the last time I left after 5pm and can essentially wfh whenever I want. Clear path up is established going to the sales (RM) side however that would take years and there’s no bypassing the strict analyst timelines at my bank despite being a high performer.
Slated to possibly receive an offer from a PE/PC firm where total comp would be around $130k per my best estimates. Would also be for a LCOL city, but the WLB isn’t as solid from what I can tell (not sure on exact hours, but I know there’s no wfh on Fridays for example). Not really sure how/what the career progression would be from here.
My question is - is this raise substantial enough to give up the elite WLB I have? Is it “easy” to get back to commercial banking assuming I do a year or two in PE/PC? Is there anything else that I’m missing that you could fill me in on?
I think the choice here is whether u enjoy underwriting or RM work more in the long term? If you don't think you like the salesly aspect go to PC, if you don't like the underwriting work you're doing as an AN then thug it out and become an RM
If I were you I'd make the jump unless the WLB trade off makes hourly pay the same or worse, but then again, I am not you
As you get more sentry in PC, will your role become more originating instead of underwriting?
It does, but your job in PC is ultimately to create a book of good credits (that involves originating those credits but large part of the skillset is in identifying the right ones)
Your primary job in CB is to build relationships for the bank
Historically, it has been easy to return to commercial/corporate banking. The expansion of AI may make that somewhat more difficult as the technology matures.
If you are a successful RM, however, you can always find a home at a bank anywhere.
I'd concur with the other post about following your enjoyment - not chasing comp. If you like the WLB and underwriting work, then you can ask more specific questions about progression at the bank over time and compare that to the PC gig.
If you like the potential to do sales and be an RM, the choice is clear. Over the long run you can make a lot more cash building a book of business than chasing base pay bumps around.
Easy to switch back if you do it after a year or two (not say, 5 years). Trade off may be worth it to get the brand name / experience on CV early on
congrats! curious to hear how you pivoted from commercial banking to PE/PC
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