Thoughts on Middle Markets
Hi All,
What are your thoughts regarding the middle market business at a big 6 Canadian Bank. The team sits in Leveraged Finance and sometimes bid and win again the Capital Markets team for deals. However, it is part of the Commercial platform and pay is subpar and probably 30-40% lower, but experience has been great so far.
Should I try to switch to the CM business at another bank or ride it out for the time being given that I’ve only completed 1 year on the team so far.
Based on the most helpful WSO content, it seems like there are a few factors to consider here.
Firstly, the middle market business can provide valuable experience, especially in a Leveraged Finance team. You're likely getting hands-on experience with deals and gaining a deep understanding of the industry. This experience can be a strong foundation for your career in finance.
However, the pay discrepancy you mentioned is a significant factor. If compensation is a major concern for you, it might be worth exploring opportunities in Capital Markets at another bank.
Another point to consider is the potential for growth and advancement in your current position. If there are opportunities for upward mobility in your current role and you're gaining valuable experience, it might be worth staying for a bit longer.
Ultimately, the decision should align with your long-term career goals. If you see yourself in Capital Markets in the future, gaining experience there sooner could be beneficial. But if you're still exploring your options, the experience you're gaining in your current role could open up different paths for you in the future.
Remember, there's no one-size-fits-all answer here. It's about what feels right for your career and personal growth.
Sources: A Discussion on Interest Rates/Macro Fundamentals (Long OP), Hardo Hot Take: Middle-Market Investment Banking is Not Prestigious or "High-Finance", Mid-Market PE Valuations: Where Up is Down, Middle Market Growth Equity Shops - any clarity?
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