About to receive an offer for a corporate banking analyst role at a BB. The group is very strong with lots of deal flow and sits directly next to the IB team so lots of networking opportunities. $100k base with bonus. Only issue is that I will have to move away from family and friends in my current city to move to Texas.
I only work like 35 hours a week, two days remote, and can basically do whatever I want at the office but I make $67k. The thought of leaving this cushy role in the area I grew up in and spending the rest of my 20's in a brand new city (I'm 25) is a little unsettling. Considering I went to a non-target with a low gpa, I may not get another opportunity like this.
Should I take the offer?
Is this an energy/Houston role? Would also consider if you want to do that, especially down the line transitioning into IB. Do a search on here for energy IB, but you will work a lot of hours (Houston is an extremely sweaty place) and the exits are generally into energy PE. If this is the BB I think it is, definitely do a search on here because the culture and hours are rough.
I guess the question is - do you want to do CB/IB/PE or are you happy where you are? Prestige isn't everything, I wouldn't necessarily say this move is totally worth it. Is there a middle ground where you can work 40 hours a week at a corp finance job and make more than $67k? The CBs that sit within a CB/IB umbrella can work consistent 60-70+ hour weeks, is that worth it to you?
Yes. The CB/IB is housed under the same umbrella so the hours are going to be longer. I've interviewed with other corporates in my city and the max for an analyst 2/senior analyst is like 75-80k. I'm definitely not struggling but not putting a lot of money away either. I think I've made up my mind but wondering if CB is worth moving and staying in.
CB is a decent place but in that seat, and that firm/group specifically, you will work long hours. Most people do not stay in CB longer than two or three years as the comp doesn't really justify those hours - have seen exits to credit-focused PE funds if of interest, corp dev, or IB to move elsewhere.
On the other hand, you could likely go back to your city in a year or two and get a more senior role with BB experience if you don't like it, so perhaps worth a try.
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yeah it sounds like either JPM or C and he will work ridiculous hours at either. Good for a year or two to get to something else, but would not take this with the intent of staying for a while
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Would def try for WR
WR?
Scooby doo’s way of saying Wells Fargo. Wells Rargo!
Take the role and move to the bigger city.
Your hometown will always be there, it’s not going anywhere. Can always move back if you have to.
I made a similar move 6 years ago and it was the best thing I’ve ever done. Exponential growth in all areas of my life.
Take the role
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