I'm currently in a BO ops role for S&T and have been so for about 2 years since graduating. I have received 2 offers that I am trying to compare transferable skills for movement within or outside banking.
Role 1: Treasury Services Associate @ JPM (CB)
Role 2: Commercial Associate @ BofA (Middle Market Banking)
I do understand both do the offers are better from a BO/MO/FO perspective compared to the one I am in. However, looking at these roles from strictly a skill set/reputation standpoint, which do you guys think would provide the best opportunity going forward?
Depends on what you want to do.
Treasury is interesting, payment products are constantly evolving and there is competition from Fintechs which makes for a dynamic sector. Sharing that sector with them also makes fintechs an exit opp. If you want to staying finance however, you risk being pigeon-holed out of other FO roles. I have seen some people move from treasury to corporate banking for example, but it usually isn't a lateral and most moves out of treasury sales tend to be towards product and other stakeholder engagement roles within the bank.
Commercial banking will give you the core skills for corporate banking and beyond. Credit experience is bread and butter for a lot of neat areas, so even if you find that the pace of commercial banking is a little pedestrian and the exposure to interesting deals minimal it is worth sticking it out for 2 years, networking, etc... Definitely easier to lateral into other areas of the bank given the skills learned on the job.
So from networking, shadowing and coffee chats, I do have an interest in hopefully getting into more of a DCM/LevFin/Acquisition Finance role. But, that interest grew after I graduated and seemingly too late for now. I do intend on pursuing a MBA after a few more years of solid experience and will be sitting for CFA level 1 this November.
From your comment then, it seems like the commercial associate role + above would be more relevant than the treasury role? Given that both firms are large, do you think there’s a significant difference in the weight the name will carry building a career in banking?
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