tech or IB? need advice.
Hi guys,
A sophomore interning at a BB here. I have a junior offer that can possibly turn into a full-time job. I actually want to do business operations/growth in tech but I come from a low-income family and money is important to me. I did not work as much as I expected this summer, mainly because I was a sophomore (left around 7.30 pm for home and was online until midnight, but only once a week did I have to work after going home). I don’t like working long hours but I feel like a career in tech will not offer me as many exit opportunities and salary advancement as IB.
I would be happy to listen to any advice you might have.
Thanks.
"I don't like working long hours" and "i come from a low income family and money is important to me" are a bit contradictory imo
Honestly I agree here. Also if you paid at least 5 minutes to the news the tech pipeline is going to be extremely risky and competitive for the next few years. Not a dice I’m willing to roll knowing I needed a full time job paying >150k guaranteed.
Lots of tech firms have pulled offers to college grads. Many working in tech right now have lost a lot of their equity effectively making their comp notably lower than that of someone who began working in tech 2 years ago.
Tech has plenty of smart people but also plenty of hardos. Plenty of people in tech are miserable but they just tout their easy work schedules and hours, but that's about it. Grass is always greener until you realize it's not.
step 1 - take return offer and try to get into the TMT group at some point before FT (assuming you're not already there)
step 2 - once you're in TMT IB, recruit for growth equity and tech startup roles. You can make your decision based on comp/WLB depending on the opportunities that come to you. Note, some GE shops have relatively good hours/lifestyle.
Always stay on the path of optionality until you figure out what it is that you actually value in life, your priorities, and things you're willing to sacrifice. You can still recruit for tech roles after your junior internship, so no need to feel locked down now. I also come from a low-income background and comp is important, so I have a limit on how much of a paycut I'm willing to take to pursue a job I'd like more. Figure out what that number is for you and don't hesitate if you come across an opportunity that meets your criteria...except in the current market might be better to be at an established bank rather than a growth startup.
Is ge mainly cold emailing and calling at entry level?
depends on the firm, but many are sourcing focused yes. This makes GE to buyout a bit more challenging, but GE is already the exit opp so doesn't matter.
I think you’re in a perfect position. Try recruiting for JS/HRT/Citadel this year. If you can somehow land one, awesome, take that offer. If you can’t, take your BB return.
Why not apply for FAANGs too?
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