Joining an office build-out?
Interested in hearing others' advice.
Current 2nd year IB Analyst looking for advice on whether I should accept an offer to join an office buildout in a new geography. I am currently in a major city and large office at my firm. Recently, there has been some discussion within the office on expanding and building a new office in another major city in the US. A senior banker I have worked with has indicated that they are interested in heading the build-out and asked if I would be interested in joining the build-out team in the spring. The new team will have a few people from current offices and a few new hires. I am not sure about this opportunity. I am almost entirely agnostic to where I am living and like both cities equally. I have liked working with the senior banker and he is a pretty big deal in the firm. I am pretty torn on this move.
In terms of pros, I will get some entrepreneurial experience in building a new office and entering geography. I will have a lot more access to senior exposure within my team and will still be staffed cross-office. I will have the opportunity to show initiative and will definitely be considered for expedited promotions. The firm would support the entire relocation. I think joining the buildout team will be taken well by the senior banker and the firm. I am viewing the opportunity as a pretty high-risk high-reward decision.
In terms of cons, I am worried about the risks of being at a regional office and being a part of a much smaller team. Obviously, the goal of the build-out is to create a major office but it'll start off relatively small to start. There will be far fewer analysts so I am worried how compensation buckets may be impacted. Would it be fair to expect that my compensation would be similar to or higher than my compensation now? I am sure I'll manage but I don't too many people in the new city, though it is definitely closer to home (my parents). I am not sure of other cons that I am missing.
Appreciate the advice!
My biggest fear would be the cultural risk attendant in hiring a bunch of outside hires. Is this new city equivalent from a finance scene standpoint?
Similar fear in regards to culture. Both cities are pretty much equivalent in terms of the finance scene. Both are very large cities.
hmmm, is this a bb?
Bank is an EB
Based off what you’ve written seems like pros outweigh the cons. Not too sure how your compensation would be impacted.
The opportunity to work closely with a senior you like in opening a new office sounds exciting. Not to mention, it’ll look great on your resume. Is the new city tier 1? Or 2? I think you should consider the exit options if you were to move to the new city but decide you want to leave your current firm, and where you would be from a recruiting standpoint.
All in all, making the move is a risk, and I know IB people are typically risk averse, but it could be a net positive for you. If a senior I liked asked me to move to another tier 1 or 2 city, I think I’d do it
Makes sense, would be moving from a tier 1 to a tier 1 city. I think I'll likely take the opportunity
I would absolutely recommend going. This sounds like the kind of opportunity that makes you stand out from the crowd, be memorable and be viewed as someone that people want on their team. Great opportunity to make a notable shift in your career. Enjoy it & best of luck brother.
I would do it.
Architecto incidunt pariatur et. Maxime hic odio dolor similique accusamus natus. Labore tempora quaerat soluta alias. Id facere aut provident error quod tempore assumenda dolorem. Voluptas architecto quia voluptas qui.
Quaerat reprehenderit a aut id praesentium. Fugiat vitae libero deleniti iure recusandae. Officia tempora qui earum corporis ipsa.
Ut sunt aliquid ad sint. Unde est explicabo optio. Expedita placeat placeat ea veritatis est similique.
Qui molestiae quae aperiam laboriosam eum quis. Cum facilis ut facilis impedit. Vel ad qui soluta quis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...