FT Structured Finance Offer vs Professional Services (THINK BNP PARIBAS VS KPMG)

Hi all,

I'll get straight to it:

  1. Currently working- lets say within the professional services domain, professional qualification provided (ACA/ACCA), good pay, great perks (lots of gadgets, subsidised canteen, great pension, great insurance), very good team, easy hours (out by 5) etc.

  2. Have been given an offer for a front office role at a Middle Market bank (previously considered Bulge Bracket). This is in particular a Asset Backed Finance role. This falls under debt capital markets for the specific bank. Anyways, the pay difference in gross terms is £7,000 (the bank paying higher) which actually does not translate into much when looked at in net terms. Regardless, the bank does not provide many perks, but this specific role is something I'm actually interested in. My background is an internship in Risk at a BB bank and a 2.1 degree from a Russel Group Uni.

My question- apart from if I should take the offer, is as someone who has not worked in the "front office" before, and hearing/reading various stories, what do I expect? There is no specific training like certain grad programmes, but during my interview, the MD had stated they provided on the job training etc. Most of the team that I interview with seemed quite reassuring etc.

I guess my main point is, will I be taught all different aspects of the role? How will I get to grips with the modelling etc? I have been told and also from research, that the modelling is different- its cash flow modelling based on the underlying assets etc which can be a range of things. The generic financial modelling from what I've seen onine seems to be aspects covered by my corporate finance classes at uni. However, the modelling that this team speak of, seem to be unheard/unseen off, with very few information/tutorials online. What hours do I expect? I assume it's something along the lines of 8am to 8pm? Maybe a few times finishing at 10pm? Rarely ever midnight? I don't mind the hours as long as the team are good. But what if it comes to the point I'm being shouted or sworn at? Is this something that analysts experience?

I know of a few people working in M&A, Asset Management and Sales and Trading. They all say I'm overthinking it, and much of the work is fine, but the most important skill is attention to detail? They said modelling (of the people that do it) is perfectly fine, seeing as their companies re-use templates etc.

Apologies for the long message guys and girls, but could I please receive any insight to this? Also what are the exit opps? Thank you in advance.

1 Comments
 

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