Hi,
If you guys had a choice to pick between joining DCM or Corporate Banking (under IB umbrella) Full time, which is best and why? I'd like to know which has
-Better earning potential
-Work Hours on average
-Which area has a better range of exit opps
Thank you :)
Providing the link to a different thread that you might find helpful
https://www.wallstreetoasis.com/forums/bofa-corporate-banking#comment-2…
Corporate banking is a great group to start off in if you can't find an IB offer. Once you prove your worth in corp banking, it's easy to switch into a different group.
As someone who worked with Corp Banking a lot, it's very much relationship focused and debt financing focused (since most deals Companies do are debt financed/much more of a need for debt than equity financing)
Any Corp Banking job at a BB, from a prestige standpoint, will be looked at the same. Citi/BAML/JPM/GS/etc.
Comp will be slightly less than true IB. Salaries are the same, but you'll most likely only receive 50% salary bonus (vs 75%+). You'll work a similar amount (definitely 100+ hour weeks) but it'll be slightly less than IB.
With Corporate Banking, you are the face to Public/Private companies with any produce that you can offer to the client. If the client wants ratings advisory, equity financing, M&A ideas, debt financing, etc, they'll let you know so that you can pull in the right produce/industry team to give their special expertise.
The models for acquisition financing occurs when the M&A specific team is too slammed or if the deal is too small to make big splashes in the bank. You won't need to know how to do a full merger model, but a cash flow debt paydown anaylsis, which well help set you up very well for either the leveraged finance group or a PE exit.
A lot of great things are learned in corporate banking and shouhld be treated with just as much respect as IB.
Thank you for the insight- mind if i drop you a PM?
Yea of course, feel free
Bruh what in the world CB bankers work 100+ hours weeks, I was in BAML/JP/Citi CB and now in IB and have never worked any 100+ weeks in either; at CB it’s closer to ~65 and IB ~85.
I do feel bad though if you consistently work 100+ as a CB banker, don’t think the work and salary is justified, just move to IB at this point
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