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Career Resources
I\'d say all depends how badly you want to be in an FO role right now. That\'s quite a pay cut for a risky move like you describe.
Well I\'m turning 24 in the spring, so need to make a move sooner rather than later. It will definitely look better on the resume, but if I can\'t lateral to another bank at some point, I\'m wondering if it will be worth it.
unless you have a pipeline of potential offers, I\'d really consider taking this. The market sucks right now, and transitioning from BO to IB is no easy leap. If you don\'t like the culture of the firm, do 1 year while networking heavily to see if you can get a similar role at a MM firm.
do a little research as to why the firm has been sued so many times before.
it you take the offer, it would probably be a good idea to figure out why the previous analyst was fired...was he a lazy and incompetent individual, or are the directors of the firm super hard assess that place ridiculous demands.
Definitely don't have a pipeline of offers and making the leap from BO has been especially difficult.
Not sure why the other analyst was fired exactly but I got the impression it was a combination of him being lazy and a bad culture fit with the firm (another one of my concerns).
You shouldn\'t worry about lateraling to a BB if you are planning on an MBA. I also think the whole taking a paycut thing for a new and exciting challenge at a small, struggling company might play well in your MBA apps. You can tell a good story about taking a risk to achieve your goals and you can probably get some unusual work experience to differentiate yourself from the monkey who spend two years in an analyst stint at a BB just like every other applicant. In short - I say go for it.
I was thinking more along the lines of lateraling to a reasonably respected MM firm if I found the culture didn\'t fit/I couldn\'t live off that comp anymore.
I appreciate the perspective about the B-school apps. Makes me feel a bit more optimistic about the opportunity.
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Honestly wouldn't do it for many reasons you mentioned regardless if it's FO or not. Too many red flags for my taste.
Yea man, I don't know how hard you've worked to get this or the amount of obstacles you've faced but from an extremely objective viewpoint I would ask for an increase in salary (even if it just goes to 50k +5k guaranteed bonus). Or at least make them guarantee a larger bonus, if they can't do either of those they are just trying to Sandusky you.
If that doesn't work fuck it, you can't live in NYC and pay health insurance off of a ~40k salary anyway. They seem to be a firm with little moral fiber when you take into considerations lawsuits, pay and all. I would never make an employee work 100 hr weeks and not get them some sort of insurance that would cover any sort of mental health or physical ailments that may come from such stress on the body.
Did this and got them up to high 40s. Plan on accepting. Thanks everyone for the input- hopefully it all works out.
30-40k ? the fuck
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