Do Commercial Bankers make as much as IB?
I recently accepted a job at a bulge bracket commercial banking division, and was wondering if commercial banking side of these firms make as much money on a per-employee level. One of the guys that hired me said that we do similar work to them and get a better learning experience, so I'm wondering if this translates to equal pay. I know investment bankers work similar/slightly more hours, so I could see that being a reason for a pay disparity. Any comments appreciated.
No. Do at least ATTEMPT to research on your own before you ask something for all of us to answer for you. In my experience, the hierarchy of pay for common entry-level finance jobs at a bank are as follows: 1. Investment Banking (salary & bonus are high) 2. Corporate Banking (salary & bonus are somewhat high) 3. Equity Research (salary is high and bonus is low) 4. Sales & Trading (unless you are a rockstar, which is less than 1% at the entry-level) 5. Commercial Banking (salary and bonus are low)
Hope that helps :)
thanks for the candid response, and sorry for the lack of awareness. Are exit opportunities at least similar from commercial banking?
You clearly aren't sorry, because that's another stupid question.
It is all about how you network and if you interview well, however, I have yet to meet many commercial bankers to exit well (except for the odd direct lending shop). The best path is to lateral to a different part of the bank (whether the same bank or different) once you have gained experience in the commercial role. Or pass your CFAs and go get an MBA. Up to you!
Not all of his lies are bad.
You do not do similar work (I mean both are technically finance, but still). You will likely not gain a better learning experience. You will likely be paid significantly less.
BUT you will work WAAAYYY less hours :). So that lie is good I guess.
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