BB Corporate Banking prospects?
I recently accepted a summer analyst offer in the corporate banking division of a BB. This bank is one that has its CB in the same overall division as IB/markets. The work seems really interesting and I loved the culture, but the comp base did seem a good amount lower than for the other two CIB divisions (75K vs 85k prorated, though CB interns do get hourly and overtime while the others are pure salary). More importantly, I'm curious as to the long term prospects in CB/what exit opps are available, either from a full time CB position or even in FT recruiting. Thanks in advance!
CB definitely has different/more limited exits than IB. Would try to overlook salary for the SA roles as it is only 10 weeks...
Thanks! Do you know what exactly those opps are? I'm not really interested in MF PE or anything of the sort, but moreso corp/startup strategy or a top MBA to consulting. I already accepted the offer so I'm not going to get hung up over a few K for the summer, just something I noted should I return full time.
I know of CB BB analysts who have exited to IB (internal transfer in the same bank), to small PE funds (in the same industry that the analysts covered in their CB role), to boutique real estate sales, to an offbeat strategy position within the same BB, and to an M7 MBA program (which could provide a springboard for transitioning into consulting, corporate development, or corporate strategy).
Conventional wisdom holds that corporate finance (often with client companies) and corp development / strategy are also common exits, though IBers have a relative advantage over CB in recruiting for corp development., while consultants have an advantage in recruiting for corp strategy. Debt funds and private lenders are also often cited as possible exits from CB. However, I don't personally know of any CB BB analysts who have taken these routes.
Note that your experience in CB will be highly bank dependent. In some offices, the CB analysts can work almost as many hours as the IB analysts. In others, by contrast, the pace is more relaxed. Good luck!
Is this by any chance Wells or Deutsche?
It's at one of GS/JPM/MS.
Unless something’s changed, GS and MS don’t have CB...so it’s JPM then.
What is Wells Fargo's Corporate Banking unit like?
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