So I just got an offer from PFM Group. For those who don't know PFM is the leading Public Finance Investment Banking Advisory company. I have been out of school for 1.5 years, been working in a BB Ops/Middle Office. I always wanted to break into IBD and here is my chance I guess. The only problem is that PFM starts off their starting analyst at a pretty low pay compared to industry, a 5K drop from my current role.
Should I take the PFM gig? and will it help me develop better IBD opportunities in 5 years, considering I stay with them for 2-3 years?
Also, internal movement to FO from BO is limited needless to say and chances are slim.
Thanks in advance for the advice
From my perspective, I'd take the front office gig. You already have a namebrand on your resume (even if it was middle-back office), and now you can move front office at a less prestigious bank, but be in IBD. If you did well in undergrad, than you can get into a solid MBA, then move to "real" front office as an associate afterwords...
That's just my view - I tend to place extremely low value on how much money one makes early on in their career though... if you actually NEED money for any reason (you have student loans, etc), then it may be a different story.
All my student loans are paid...money is not an issue, I want a solid career path. I graduated with honors in my undergrad in a top university.
go front office then, for sure.
Any other advices from others on the board? Anyone went trhoguh the same path as I did and currently working in IBD?
Yes, take the new gig. Your earnings potential in IBD (even if you take a $5k pay cut now) will far outweigh any perceived negatives. Plus, you'll learn a new skill set which will make you more marketable for jobs in the future.
New gig, no question.
Take it, work hard, and don't look back...there are a lot of people out there right now who would give one of their testicles to be in your shoes
Take the new job. You've already got whatever benefit you'll get from the BB name because BO position won't drastically change over the next 1-2 (or many) years.
With the new role it helps illustrate: A) You're interested in more analytical work, and you've made an aggressive effort to branch out and get it B) Greater variety of skill sets and responsibility
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