Would love to get an updated take on corporate banking at Citi. Citi gets a ton of heat but presumably believe the heat falls more on the IB side. Could be wrong since CB is housed under CIB.
Heard pay is pretty strong but not sure how many more hours are being put in. Also would love to hear thoughts about the different groups. Thanks!
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Ah, the jungle drums are beating about Citi's Corporate Banking in 2024, huh? Let's swing through what the WSO vines have to say:
Pay: Based on the WSO content, corporate banking roles at Citi, especially under the CIB umbrella, tend to offer competitive compensation. As an analyst in a true CIB role, you could be swinging into the six-figure range even in your first year. That's not monkey chump change!
Hours: The hours in corporate banking can be a bit of a beast, often ranging from 60-70 hours a week. So, you might be spending a few extra hours in the office compared to some other roles, but hey, that's the jungle for you.
Groups: Corporate banking at Citi has a variety of groups, and they often use an industry coverage model. This means you could be working with sectors like TMT, Healthcare, Consumer & Retail, Industrial, Energy, etc. Some groups might even be organized by geography rather than sector.
Culture and Workload: While the heat might be more intense on the IB side, don't be fooled into thinking corporate banking is a walk in the park. It's still housed under CIB, so the pressure can be on. However, the nature of the work might involve less transaction-driven frenzy and more continuous relationship management and financial analysis.
Remember, the jungle is always changing, so it's best to network and chat with current Citi corporate bankers to get the most updated lay of the land. Swing high, future corporate banking star!
Sources: Corporate Banking?, What is corporate banking?, An Overview of Corporate Banking, An Overview of Corporate Banking, Investment Banking vs. Capital Markets - How different are they?
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