Corporate Banking - C5 vs US BB
Hi guys,
I was fortunate enough to receive a few corporate banking offers for full time in NY/SF.
I was wondering how the programs at the C5(BMO, Scotia, RBC, CIBC) would be compared to US BB(Citi, WF, JPM), based in the US. I know the US BB programs are probably better overall(exit opps, prestige), but the pay at the C5 bank offer is surprisingly higher and I like the people I interviewed with better. They also placed me in my first industry vertical group preference. Would it be unwise though to take the C5 offer? Would the exit opps be that much different because of the prestige?
Thanks for the help.
I did an internship at a European bank this summer in Corporate Banking and I have to say I would lean more towards the C5. Corporate Banking at a US BB is basically investment banking lite and you'll be worked to the bone. Whereas companies like mine or the ones you mentioned would be a lot chiller plus you'll be making $110k+ for a job that required you to be in 8-5.
If you want prestige though and want to be a master of the universe go for the BB if not, go for the C5's. I am a part time musician thats why I am more interested in lifestyle.
That makes sense. Thanks! Would you say you can exit into the same opportunities that you would get at a US BB- i.e. if you want to go into investment banking in the future?
I am pretty sure a US BB has the better exit opps than a C5 for all career moves. A C5 Corporate Banker might find it hard to lateral to JPM IBD for example but a JPM Corporate Banker can probably get to Scotiabank M&A or JPM IBD if they want to stay at the same bank.
But lateralling within the same company is similar for all, pretty easy if you really want it.
Ahh got it. Yeah, i'm leaning towards C5 bc of culture and people i met but its hard to pass up the US bb opportunity if it leads to better opportunities afterwards. Idk... I think if its not that much worse in terms of exit opps I wanna go for the C5 opportunity...
Based on what you said, C5 has better people and culture, and pays better. And you’re making yourself disregard that because the C5 are a little smaller / less prestigious than a JP or BofA. If all of the options here land you at a big name brand bank, go to the place that gives you better culture and better pay…
Can't speak on JPM/Citi but know that BAML does higher bonuses relative to base than C5/other US banks - in return as others mentioned, it's investment banking lite, whereas C5 I work from 9-6 usually and no weekends.
I personally would go with a U.S. BB first and if you absolutely hate it you can always go to a C5.
I started my CB career at a JPM/BofA/Citi and had tons of options after a couple of years as an Analyst. I don’t think the options would be the same from a C5 although I’ve heard they pay more.
I don’t give a shit about prestige or having the best brand name on my resume at this point in my career but I still think US BB is the way to go…however, my lifestyle is much better at my non-BB bank and I still think Corporate Bankers get paid pretty well for the amount of hours they put in.
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