Is Corporate Banking boring or is it only the case at my shop? Currently at a BB, but the work is super dry and heavy on the admin side. The deal process is interesting but it's very repetitive. What are your experiences?
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curious as well
I worked for a year at a BB in their corporate arm before switching to IB. Found the work incredibly dull, repetitive on the credit side and not too intellectually stimulating. May be different for others but that’s what my experience was like and why I changed
Hi- would love to hear how you approached the internal move and how your CB team reacted?
Wasn't an internal move - moved to a top mm firm as an A1. Team wasn't bothered at all about me leaving as was quite common for analysts in CB to transfer, whether internal or external.
OP here - What do you like more in IB compared to CB? Thinking of making the switch down the road.
Been working in CB at a BB. I’ve come to find the work incredibly boring. Most of my job is just an advanced form of copy/paste and updating bloated credit memos that we send to the credit committee to get deals “approved” (in quotes because there is almost no situation where the bank will say no to generating fee revenue and willingly lose to competitors).
It’s still a great opportunity nonetheless but I can’t see myself staying long term.
How much time do you spend modeling in CB at a BB?
We spend a good chunk of time modeling during the deal process. Our models are basically watered down LBO's. Each group does it differently but modeling isn't the sole focus in CB as your model results are just one piece of the credit report.
How much modeling is there in CB?
Extremely bank and vertical dependent. Energy CBanker here and we model quite a bit
To contrast I’m in TMT corporate banking at a huge balance sheet bank and we don’t do any modeling at all. Unless you count modeling returns…which I don’t
Just curious, what do you guys do then? Credit memos mostly?
Bump
Boring af. Skill set actually isn’t half bad to have but after a year you are just collecting a paycheck and bored to death while not learning anything new for the most part.
I left after two years but wish I would’ve left after a year
What does your role in corp fin entail now?
IB
Did strategy after then MBA then IB. Didn’t want to do IB but didn’t get transaction Exp in strategy. Money wasn’t a driver - all about expanding skill set
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