Pay vs reputation
Hi fellow monkeys,
I need your advice. I am in a lucky situation having two Full-Time offers. However, now I have to make my decision.
Firm A is an international mid-market bank with a good deal flow and reputation (i.e., Baird, Blair, etc.). Working hours are average, but their pay is below competitors.
Firm B is a corporate finance advisor (mostly lower MidMarket deals) who is not well known outside my country. But, the working hours are lower, and they pay way more than firm A (~10-15k difference).
Both firms seem to have a great culture. Hence, I am currently unsure which aspect I should prefer. Should I go for the reputation or payment and better work-life balance
Congrats on having two offers. I'm a junior student so take what I say with a grain of salt. With that being said, a 10k-15k difference at the junior level in a non ib role doesn't seem as worth it in the long term. Plus with the mm firm you will most likely have good structure and the ability to lateral up to something that would blow both of those offers out of the water comp wise.
At the beginning of your career, go with the most reputable and international firm which allows you to build a solid stepping stone for future opportunities.
The first 5-10 years are not to maximize comp, they’re to build the foundation for more senior roles later in your career.
A large, international MM firm like Blair or Baird will probably expose you to more situations than a small, local shop, while also keeping the doors to a lot of traditional opportunities (PE, MBA,…) wide open. That said, there are rare occasions of small firms that are run by super well-connected people that might be worth considering. Unless you’re absolutely sure your offer is from one of those, go with the “safe” choice. 10-15k are irrelevant in the long run, particularly if you lose out on opportunities you know you can access through an established platform.
In your situation I would go with Baird, etc. 10-15k difference isn't big at the start. After 1-2 years at Baird your learning experience and progression will be much better.
Here's an example where I think you should take money over prestige:
I was in a non FO role with 5 years of experience and was about to be offered an analyst role at a BB. Another much lower tier bank gave me an associate role with a 45k differential in base salary. I went with the associate role and I have lots of options available to me, and I can probably lateral to another bank as an associate. Regardless, getting that associate title was huge for me, and the 45k difference was really nice.
What sort of non FO role if you don't mind?
45k is much more material then 10-15k
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