Big4 to Sell side structuring at BB Bank
I’m a manager at one of the Big4 firms and due for a promo in July next year (which I think I have a good chance to get). I’m currently making about 175k with 15-20k in bonus (Promo would put me at about 200k and maybe 5-10k more in bonus). I interviewed at one of the bulge bracket banks and received an offer from their sell side desk in securitized products group. However the position they offered is for a more junior role than I was expecting (Associate 1 - I was expecting a VP or atleast Associate 3). I’m not sure what the compensation offered would be but debating whether it is worth making a shift. I’ve always wanted to be on the deal making side because of the ownership and structuring work however now that I have an opportunity, I’m kinda scared taking the leap because of the hours (I wouldn’t have thought twice about joining had I been any younger but I’m 28 now so don’t know if it will be worth it).
Hence I need some advice on:
1) Hours and compensation - like the jump in compensation and hours YoY if I choose to accept the offer
2. Exit opportunities for a structuring desk
3. Experience from people who might have made the jump from an accounting firm to a bank or vice versa
Idk ur function that would be important context. But I mean a discount in title is fair and standard practice I'd be surprised if u did not. You'd probably be making more as a Asso 1 than people like 2-3 levels above you right now which is funny to think. I'd just take it. Anecdotally - hours r slightly lighter depending on your shop in line w capital markets. I was doing some securitized work before and I hated it because I'm not a pure numbers guy but if you like it then more power to u and I'm sure super lucrative/exclusive given the niche skillset and the massive ocean of capital being thrown to that universe of products. What some people do is they put you on a promotion fast track in order to hedge a bit instead of fully committing you to an expensive title right away, maybe you can negotiate that and hit like Asso 2 in like a few months at least.
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