Corporate banking at bulge bracket
Hey. So I'm aware that most BB banks have IB and corporate banking departments merged together. What exactly do CB folks supposed to do in such cases apart from loans and credit? Also, is competition for CB roles in BB's as fierce as for IB?
Not as fierce. Corp banking is mostly for the day to day banking large corporations. A lot of syndications and partnering with IB product partners. Your MD is also a RM. A LOT of bullshit account servicing and administrative work. Same base, smaller bonus, and better hours
Thank you! I'm also curious about the effects of automation and IA on this sector of finance in the most recent years. I've read some of the responses from IB peeps, and they seem not to care much given how important human contact is for this part of finance. Is CB relatively similar in that regard?
I would say the same. Very relationship focused. What analysts do could be automated but I don’t think that means analysts will be obsolete, just dedicating time to more important tasks
Have you seen people switch from IB into CB? If so, from which groups?
I think corporate banking is a great career hack. Not only is it less volume of work, it’s also lower stress work. In other words, instead of working 80+ hours under high intensity and high pressure, you’re working ~60 hours with very little pressure and generally with chiller MDs and lower stakes all around while still making great money. You’re not gonna be as stimulated or learn nearly as much, but as a finance pathway where you can actually have a whole life and career, it really is a hidden gem.
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