Advice needed: Is this a dumb lateral move?
Hi all, really need some insight here. Currently a Corp banking sr. Analyst at a T1 WC city working at a non-BB euro balance sheet bank. WLB is great. Have been wanting to move to NY for a couple years now and finally landed an offer to join as an analyst on the Corp banking team of a lower tier Canadian bank in NYC. Is this a dumb move on my part? I enjoy CB, and would eventually like to pivot to PC. Some ppl are telling me not to make the move and be patient and keep recruiting, however I finally have an offer and don’t know when I’ll get another one.
Thanks all
Anyone ?
I’m not huge on CB but I’d look at the public syndications the Canadian bank participates in, whether it be LL, JLA, or simply a participant. You can also check the league tables on a terminal. Here’s a link that came up in a search that you can use as an example to work off of:
https://ionanalytics.com/insights/debtwire/us-middle-market-syndicated-…
I think overall, if you enjoy your WLB and have been thinking of moving to NY, your personal life is weighing heavier on your decision as compared to the bank / position you will have. Working out of NY will be a bonus on the resume, but also, would hate to hear you pigeonholed your career going to a “no name” bank that has no traction in market / cannot lead a deal.
If you network while you’re up there, could parlay into a different role or bank, or even PC. Just food for thought.
Really appreciate your feedback. It’s definitely not a “no name” however it’s a major CAD bank.
Additionally, does recruiting in NY become exponentially easier if you’re physically in NY?
Have you been recruiting with no success at BBs/upper MMs?
It's easier to recruit from NY, but upgrading from that bank once you're in NY + doing CB at 3 separate banks is going to be a red flag to most recruiters when you're looking to exit. Hard to say if you could exit to PC directly without knowing the bank, but even if you can it'll likely be very LMM
If you have had zero bites for months at reputable brands, that's one thing, but if this is just the first offer you got and you haven't been trying that hard/long for a better brand, I'd be surprised if you couldn't land one
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