Barclays Public Finance vs Morgan Stanley Corporate Treasury SA
Recently got 2 offers: one from Morgan Stanley Corporate Treasury and one from Barclays Public Finance. I'm really conflicted as to which I should accept. Here are the pros and cons of each I'm seeing right now.
MS:
Pros
1. Better name/reputation
2. Corporate Treasury full-time has a 2 year rotational program so it'd be nice to move around a little and network and learn a lot more in different groups
3. Better exit opps/more transferrable skills?
4. Don't know if this is dumb but the interview process was a lot more legit. Pre-interview info session on campus, then on-campus interview, then pre-superday networking session, then superday. Was a lot more organized and structured than Barclays. Barclays I went straight through to the superday, had no networking/info session, just the superday interviews and got the offer. Don't know if this is indicative of the difficulty/legitimacy of the job at all.
Cons
1. It's more middle office
2. It pays less than public finance
3. it's not in their nyc hq, but in a satellite office about a block away
Barclays:
Pros
1. Arguably better job
2. It's front office
3. It pays more
4. Better on resume maybe?
Cons
1. From what I've gathered, it's pretty niche without many exit opps so it's hard to get out once you're in. But then again this is an internship so even if I accepted a full-time at the end maybe it'd be easier to transfer out after a few years?
2. Not as good a name as MS
3. The group you get assigned to for the internship is the same group for a full-time position. It's hard to transfer between groups and you need to wait at least a few years if you decide to do it.
4. I think it's a pretty small division in Barclays, so I don't know if that means it'd be harder to advance up the ranks.
Is this last about right? Is there anything I misclassified? I know it's just for a summer internship, but I'd like it to turn into a full-time so I don't have to go through the long months of applications/interviews process again.
So I guess in the end, what would you consider the best opportunity? Which would benefit me most in the future and provide me with better exit opportunities? Although Barclays does pay more, I don't really want that to be a deciding factor.
Any advice is greatly, greatly appreciated.
EDIT:
Engineer major, don't know what career path I want to go down.
Did you forgot to mention anything about your interests, goals and desired career path...?
Yea sorry, I really don't know what path I want to go down. I'm an engineering major so I don't know too much about what work these jobs actually entail. Both sound like they could be cool but in the end I have no idea which I'd like more, which is one of the reasons why mobility is pretty important to me.
Barclays is better. Treasury deals more with regulation and MS's balance sheet liquidity, which at the end has fewer transferable skills to really any front-office positions. I've known people who've transferred from Treasury to GCM but that's about it.
don't do either of these = pigeonholed
well they're my only 2 options haha but I'm still happy with them
Barclays. The majority of people would definitely pick any front office job over any back office job. Yes, the hours will be tougher in pubfin than in corporate treasury but the job will be a bit more challenging, and you'll make a lot more money down the road. The seniors I know in pubfin, albeit at a different bank, have pretty relaxed lives with good pay.
On a side note, comparing the brand names of MS and Barclays is only appropriate when keeping the divisions constant or if you don't plan on sticking around in finance. If you're gonna move to a different industry, then the MS name might be more valuable even though it's just borrowed from IBD's prestige.
Congrats. have a PF super day at a BB this week. If you have an opportunity, could you PM me what your super day was like?
Thanks a lot everyone! Decided to go with Barclays at this point. Your advice has been great.
Bump for curiousity
I would go with PubFin 10/10 times
Morgan Stanley Corporate Treasury or Barclays Public Finance SA (Originally Posted: 02/16/2014)
Recently got 2 offers: one from Morgan Stanley Corporate Treasury and one from Barclays Public Finance. I'm really conflicted as to which I should accept. Here are the pros and cons of each I'm seeing right now.
MS: Pros 1. Better name/reputation 2. Corporate Treasury full-time has a 2 year rotational program so it'd be nice to move around a little and network and learn a lot more in different groups 3. Better exit opps/more transferrable skills? 4. Don't know if this is dumb but the interview process was a lot more legit. Pre-interview info session on campus, then on-campus interview, then pre-superday networking session, then superday. Was a lot more organized and structured than Barclays. Barclays I went straight through to the superday, had no networking/info session, just the superday interviews and got the offer. Don't know if this is indicative of the difficulty/legitimacy of the job at all.
Cons 1. It's more middle office 2. It pays less than public finance 3. it's not in their nyc hq, but in a satellite office about a block away
Barclays: Pros 1. Arguably better job 2. It's front office 3. It pays more 4. Better on resume maybe?
Cons 1. From what I've gathered, it's pretty niche without many exit opps so it's hard to get out once you're in. But then again this is an internship so even if I accepted a full-time at the end maybe it'd be easier to transfer out after a few years? 2. Not as good a name as MS 3. The group you get assigned to for the internship is the same group for a full-time position. It's hard to transfer between groups and you need to wait at least a few years if you decide to do it. 4. I think it's a pretty small division in Barclays, so I don't know if that means it'd be harder to advance up the ranks.
Is this last about right? Is there anything I misclassified? I know it's just for a summer internship, but I'd like it to turn into a full-time so I don't have to go through the long months of applications/interviews process again.
So I guess in the end, what would you consider the best opportunity? Which would benefit me most in the future and provide me with better exit opportunities? Although Barclays does pay more, I don't really want that to be a deciding factor.
Any advice is greatly, greatly appreciated.
I don't have any advice for you. Sorry! But I have an internship with a F200 in Corporate Treasury this summer. How are you preparing for the position?
Take the Corp Treasury job -- no question. Public Finance can be a dead end job. Not easy to pivot away even when you are an intern. There are a few amazing analysts that manage to do it -- but not all do.
Barclays' muni business is respectable, speaking as someone who buys bonds.
Also, yeah muni's can be a dead-end, but I've seen plenty of people on the S&T side switch products and move around. I'm happy where I am just from a FO vs. BO perspective. I honestly like the product now that I'm knowledgeable.
First off.. I do not know enough about public finance or corp treasury but as someone with ~8 years of exp across multiple popular (read: competitive to get in & do good) industries here are my 2 cents.. Seems like u are in undergrad right now.. my personal opinion is to not make money the #1 factor at this point.. get your hands dirty with something that has better exit opps because unless you are like steve jobs or bill gates you will want to do something else later in your life (like in a few years).. and believe it or not this is the best case scenario, i.e. when you love the job.. do not pigeonhole yourself right now.. good luck!
Morgan Stanley Corporate Treasury vs Barclays Public Finance SA (Originally Posted: 02/15/2014)
Recently got 2 offers: one from Morgan Stanley Corporate Treasury and one from Barclays Public Finance. I'm really conflicted as to which I should accept. Here are the pros and cons of each I'm seeing right now.
MS: Pros 1. Better name/reputation 2. Corporate Treasury full-time has a 2 year rotational program so it'd be nice to move around a little and network and learn a lot more in different groups 3. Better exit opps/more transferrable skills? 4. Don't know if this is dumb but the interview process was a lot more legit. Pre-interview info session on campus, then on-campus interview, then pre-superday networking session, then superday. Was a lot more organized and structured than Barclays. Barclays I went straight through to the superday, had no networking/info session, just the superday interviews and got the offer. Don't know if this is indicative of the difficulty/legitimacy of the job at all.
Cons 1. It's more middle office 2. It pays less than public finance 3. it's not in their nyc hq, but in a satellite office about a block away
Barclays: Pros 1. Arguably better job 2. It's front office 3. It pays more 4. Better on resume maybe?
Cons 1. From what I've gathered, it's pretty niche without many exit opps so it's hard to get out once you're in. But then again this is an internship so even if I accepted a full-time at the end maybe it'd be easier to transfer out after a few years? 2. Not as good a name as MS 3. The group you get assigned to for the internship is the same group for a full-time position. It's hard to transfer between groups and you need to wait at least a few years if you decide to do it. 4. I think it's a pretty small division in Barclays, so I don't know if that means it'd be harder to advance up the ranks.
Is this last about right? Is there anything I misclassified? I know it's just for a summer internship, but I'd like it to turn into a full-time so I don't have to go through the long months of applications/interviews process again.
So I guess in the end, what would you consider the best opportunity? Which would benefit me most in the future and provide me with better exit opportunities? Although Barclays does pay more, I don't really want that to be a deciding factor.
Any advice is greatly, greatly appreciated.
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