FTI Rx NYC or Middle Market IB NYC
I currently go to a non target state school and grinded the past 3 years to try to get an internship in banking. I got an offer at FTI Rx and accepted, but am still receiving interviews from MM IBs (RJ / TD / BMO). Is it still worth taking these?
I am concerned about FTIs low pay at a junior level because I worked really hard for this. I don't want to be griding there while receiving lower pay if I start their FT. Does anyone have insights into their entry level comp (Base & Bonus structure)? Is it worth taking these interviews and hopefully the offers? Or should i try to re-recruit after the internship is over?
Congrats on BMO!
Depends on your long term goals. Regardless do the interviews while your figuring it out for maximum optionality.
Long-Term I want to switch over to Private Credit or a strategy / corp dev role at a tech firm
What are you referring to when you say private credit? Direct lending, opportunistic/distressed, etc..
Direct lending is chill, requires a levfin/dcm/rx background, opportunistic/ss/distressed is more intensive - requires rx background, higher upside, 70-90 hrs a week aka not a chill exit. You should pinpoint exactly the path you want to head towards.
It's easy to lateral to a top rx ib platform from a "big 3" rx consulting role after 1-2 years. Rx DOES give you more optionality in terms of exits but there's no need to burn yourself out in rx and worry about lateraling multiple times if you just want to do direct lending/corp dev. Just coast in a coverage group.
That makes sense. Thanks!
Lateraling to a top rx IB is not as “easy” as this dude makes it sound…. But it’s been done before from FTI rx (certainly relatively easier to get into rx IB from there vs a BDO).
OP, wouldn’t worry about comp for an entry level role either. Figure out the skill set you want to develop and go that way.
if you want to do PC rx co is probably easier, very applicable sell and you will get inbounds from DL firms constantly. strategy/corpdev at tech you would want to go to IB especially if you can get into the tech team.
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