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Congrats on your offer - have worked at BNP Paribas and can shed some light on the firm.
BNP Paribas has a Graduate Program that you need to convert so technically you are not an Analyst and more like a "1-year intern", the salary is 60k, 5k relocation and 0 bonus. The bonus part is outrageous in my opinion.
At BNP Paribas you don't have titles (Analyst, Associate, VPs etc) which explains that they "have been working same position for 5+ years".
Compensation is slow in the first years but increases more after 5+ years.
If you are in Global Markets you cannot exit to PE, even tho DCM is part of Global Markets. Hedge Fund is limited from what I have seen.
The only thing that sucks besides their HR, is that the firm almost have a "non-networking policy", meaning if you reach out to people no one will respond.
Happy to answer any specific question you have.
Basically OP you're going to want to leverage your spring week offer into a better SA offer if you can.
Yeah I was thinking that. But let’s say I accept a summer offer at BNP Paribas after my spring, is it okay to still apply to other banks for summer and then reneg my BNP offer? And should I mention that I did a spring at BNP Paribas on my resume because I don’t want another company to cross-check with them if I accepted a summer?
you'd mention you did the spring on your CV. No firm is gonna check to see if you have an offer and as long as they're not the ones being reneged, they won't care. Its standard practice to recruit for summers better than your spring converted offer.
Thank you so much, this really helps. What would the compensation look like in the 5th year at the bank, so to speak? Also, I was wondering if you could give me some insight into the culture at the London office?
I am extremely biased but culture is dogshit (although team dependent) unless you are French.
In my opinion, it's crap because it is super French and people speak French on their desks, in lunches and so forth. There are however some advantages with the firm like they are expanding (acquired DB prime brokerage and in process of CS in the future, bought of EXANE) and very relaxed culture (not as cut-throat as American banks).
The location is also Marylebone, not close to any other bank. If you are working for 5 years you are Associate 2 equivalent, Global Markets is huge (you have Primary which is DCM, Sales, Structuring, Quant, Research - which is not ER) so compensation vary a significant amount. The base I would estimate is around 80k, bonus is entirely desked dependent but take this figure with a grain of salt.
Oh damn. The compensation seems quite low, considering associates 2/3 at BBs make around £120k + a decent bonus.
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