To keep it short, I am currently in Corporate Banking and have been afforded the opportunity to either accept an early promotion in the Tier 2 City I currently reside in (think Chicago/Toronto/Boston), or an equal position in NYC.
Is being in NYC truly going to make that big of a difference when it comes to exit opportunities and/or business school aspirations? Or does a better title hold more weight?
Thank you for any input.
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Well you left out a pretty important detail: Is the new bank better, equal or worse than your current bank?
Is it the same bank?
Yes, same bank.
take the promotion. the world is global now
Take the promotion then move to NYC...
Chicago and Toronto are not Tier 2 cities?
Whatever ranking you’d like to give it. They’re not New York.
Chicago vs NYC.....no...NYC is not better...its the same
Chicago is a Tier 1 city. Pay is the same regardless of location (within the states) in banking. Your money goes a lot farther outside of NYC. Now, in regards to the actual number of opportunities in banking, Chicago is probably a tier 2. But, I'd make the argument that the only city that is Tier 1 (strictly for banking) in the states is New York.
I guess it comes down to what do you really want? CB pay in a Tier 2 city might be awesome compared to IB in a Tier 1 city but what do I know?
Curious on your thoughts of transitioning from CB to IB as I landed CB at a BB and wondered if other than exit opps, you had some reasons as to why it would be better.
I'm not moving to IB, nor have I been offered that. I have spoken about an internal lateral to that division, but I was told I would have to start over and lose my work experience. So I decided against it.
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