I’m Associate 1 in ER that really doesn’t like ER at all. I’ve been recruiting heavily for the last several months and haven’t had a ton of offers.
My degree is engineering not finance and fits very well with my current ER coverage but doesn’t translate as well to banking rolls. I have very little transaction modeling experience in ER, mostly just earnings models with the occasional transaction announced for one of our companies.
Trying to break into banking and I’ve gotten an offer to join CIR corporate banking at my current firm (CAN big 5).
Problem is… they’ve offered me a position as Analyst 3. Going from Associate 1 in ER to Analyst 3 in CB means a significant pay cut ($40k).
Wondering what the realistic exit ops and career path is for CB? Could I make up this difference in the long run in CB while ER flattens out over time.
p.s. another option is to just keep recruiting elsewhere - I can’t stay in ER I hate this hit hahah.
How is CB a hit vs. ER?
it’s a bump at most places. Expand on base vs. bonus expectations
at minimum better to be in role you like and easier to trade up brands that way
My 2 assocs broke into banking from ER. Don’t go to cb my guy it’s just as hard to get IB from it
Dont settle for CB. I was also in ER previously but made the jump to IB in the same sector that I covered. Keep networking and recruiting for that IB spot!
Corporate Banking is a long term, lifestyle kind of career and a lot of people don’t leave. The corporate bankers I know do very well.
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