Corporate vs Investment Banking
Hello, I am currently a junior trying to finalize on what I want to do and I have found myself ping ponging back and forth from Investment banking to Corporate banking. I have an upcoming internship in Corporate banking and don't know if I want to stay with that or transition to Investment banking. I have done a ton of prep for both as well as decide which group I am interested in and all that. I came here seeking some advice from professionals in both, the pro's and con's of one or the other. Really my biggest questions are : How big of a difference are the hours between the two, How big is the pay difference, Is it worth it and How much happier are you guys in Corporate Banking than the guys in IB dying at 3am everyday.
Can't speak to IB but will weigh in on corporate banking under the IB arm of a top firm:
Hours: 60-70 a week, I doubt I have ever worked more than 80
Pay: 100k base, 10k sign on, 30-50% bonus -- pretty sweet and enough to live a nice NYC lifestyle especially with roommates
Happiness: It's still a lot of work but it makes a difference to be able to (sometimes) have weeknight plans that you don't have to cancel. Work is the primary focus of my life for sure but I find it appropriately challenging without being physically or mentally detrimental like some IB gigs can be. Probably worked one Saturday ever and only about 30% of Sundays which is not bad, so you will generally have pretty free weekends.
CB is pretty variable bank to bank because some banks have it under the CIB umbrella and others don’t. But essentially the closer you are to IB, usually the closer your hours and total comp are
Big 5 CB banker here, never work > 60 hours per week and earn 90 base + 10 signing + 30% bonus in my first year. I find it so funny when I hear the IB analysts talk in their pens about how they can never leave before 11pm or they'll get crucified by their dickhead MDs
Thanks for sharing, Do you enjoy the work?
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