Hey guys, I have a little bit of free time - hence I though it'd be a good idea for a quick Q&A.
Some background:
- Immigrant from Latin America, moved to U.S. ~10 yrs ago
- Went to a non-target in the Pacific Southwest w/ a finance major (okay business school)
- Sophomore internship: non-paid gig @Merchant Bank in NYC
- Junior internship: IB @BB in NYC (secured FT and came back)
- Spent the last 3 years in a heavy execution / M&A group and very recently moved to a coverage team; I needed a change of pace / better life / wanted to focus on a specific industry I enjoyed
Happy to answer any questions you may have about my analyst years: the work, hours, comp, culture, the good & the bad & the very bad etc.
Regards,
What does the FT recruiting process look like for your bank? Is it:
Group specific?
Network heavy?
Currently at a BB exploring options at other groups / banks
Only group specific is LatAm and FIG I believe, rest is plan vainilla rankings like other banks. You'd just have to network "heavily" with groups, which means talking to at least 5-7 people per group - which in reality is not that much.
What's your salary progression like?
Yawnnnnnnnn
N1: 85k, N2: 90k, N3: 95k.
The bank recently bumped A1 salaries to 175k but it used to be 150k.
Why did you decide to stay in IB instead of moving to buy side? Curious as I too want to consider climbing the IB ladder long term
Already, so many redundant boring questions
Feel free to ask a question you deem absolutely exciting and ground-breaking.
What do you miss the most from leaving Latin America? Any plans to travel back (for leisure or residence) after accumulate enough wealth?
I mainly miss the extended family and food. And I love going for leisure as I feel in my element, but my family made a big effort to make a living here, so I'd like to continue to pursue success and wealth in the states.
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