We need a corporate banking forum

I've noticed a lot of increased interest in corporate banking on this site in the last year or so-- anyone else think a dedicated forum page could be a good idea to foster some more discussion on the subject and keep other pages on topic? As a CB analyst myself I can attest its a significant part of the street and a lot of people are working in this industry, obviously IB and PE are the focus of WSO but I'd argue CB is just as relevant as a lot of other pages (corp dev, ER, AM, etc). Just a thought-- also while I have you CB guys, any bonus numbers for analysts at the BBs that just paid??

Comments (45)

  • Intern in IB - CB
Feb 11, 2022 - 4:30pm

I would appreciate this.  I'm going to be new in the space and would love to hear about current CB analysts/associates' experiences, and see different questions and things answered, etc. 

Feb 11, 2022 - 4:36pm
Kirosene, what's your opinion? Comment below:

Up! Incoming BB CB analyst here! Would also be interested.

Feb 11, 2022 - 4:38pm
FunkieMunkie1234, what's your opinion? Comment below:

Agreed. Although it wouldn't be as necessary if WSO's search function worked.

Feb 11, 2022 - 6:52pm
theLCdiplomat, what's your opinion? Comment below:

I would also appreciate this. Just started in corporate banking at WF working with ABSs and definitely confused about the dynamic of these subindustries, especially because WF uses 'Corporate & Investment Banking' to describe the division.

  • Analyst 1 in IB - CB
Feb 13, 2022 - 3:06pm

From a technical perspective I doubt it will be anything you haven't learned in IB, modeling for credit analysis doesn't go far beyond basic projections, sources and uses, repayment/cash sweep modeling. The other thing about credit analysis is reading and understanding the CAs but you're probably fine with legal stuff from IB, can be tricky at first but just needs reps so I guess you could check out a couple examples on EDGAR. Helps to understand the capIQ plugin/advanced excel since you will have to make a crapload of trackers and stuff for clients, sure its the same in IB again. Also at a large bank that is leading a lot of deals there is a light cap markets aspect to the job (but you're mostly just inviting other big banks that have the same clients already to join your syndicate, a lot of the time they already know about the deal when we call them) so you should have an understanding of the state of the IG loan market...where things are pricing, covenants, etc. However I will say the pricing aspect is something we are still figuring out right now after the switch to SOFR...pesky credit spread adjustments. I would expect your interview would also have a lot of questions about their specific industry-- most corporate banking teams are coverage.

Feb 12, 2022 - 2:46pm
Mviz1, what's your opinion? Comment below:

Agreed, I think corporate banking has enough of a following and interest to deserve its own forum here.

Could also add corporate banking, commercial banking, and maybe direct lending/private debt into one separate forum as well. Having been both in corporate banking and commercial banking, I can honestly say the work is pretty much identical.

  • Prospect in RE - Comm
Feb 12, 2022 - 3:40pm

ive been saying this for fucking ages. Also, this isnt the first time a thread like this has come up- I remember a thread exactly like this a few months ago, and everyone agreed that we need a CB forum, but nothing ever happened. Please, AndyLouis , do something

  • Analyst 1 in IB - Gen
Feb 12, 2022 - 4:49pm

Forum defo needs: corp / comm banking, quant finance, physical commods, PWM / PB, VC, GE, PD, Infra, Secondaries, Structured Fin / ABS, fund allocator / investment consulting, TAS and insurance sub-forums.

These are all v significant financial careers that aren't being catered to at all currently. 

  • Analyst 1 in IB - Gen
Feb 14, 2022 - 6:54am

There's more than enough interest in all of those to sustain their own subs. 

If this place wants to be an actual destination for finance careers then they may as well include the full range of career paths. It's not like any of these are niche industries either. 

Feb 13, 2022 - 7:59pm
whatsapitchbook, what's your opinion? Comment below:

I've been saying - either add this CB/Lending forum or just add flair features so that people can tag their posts as CB within the IB forum since corporate banking is typically grouped in house with IB at most large banks anyways. 

STONKS
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Most Helpful
Feb 14, 2022 - 8:06am
ZetaMale, what's your opinion? Comment below:

This is probably my ignorance as I've never worked in CB, but wanted to play devil's advocate a bit this morning...

- How is CB so differentiated from the content in IB and CF that it warrants a forum? Could you argue CB is adjacent to IB as most of the time CB is under the larger IB umbrella?

- If CB is differentiated (and I can see the supporting arguments for it), then should it be a CB/Fixed Income or Debt or Lending as--IMO--they kinda go hand-in-hand

- When does the granularity end? Should there be a Credit forum? Macro Research? Middle-Office? Venture Capital? Family Office? Financial Advisors/Brokers? At some point, you drill in too far and dilute the forums/cause confusion. Not saying this is right/fair, but something to consider 

- Could it be possible to just add a tag for CB topics instead of making a new forum?

  • Associate 1 in VC
Feb 14, 2022 - 12:01pm

2 of my friends do CB at SMBC and the job sounds like a more fun version of IB. I still don't know exactly what they do so let's get some spotlight on that!

Mar 1, 2022 - 8:55pm
Letsgetit32, what's your opinion? Comment below:

Similar to the comment above, would love to hear more about what you know about the shop. Please let me know if you are available to chat. 

Mar 1, 2022 - 8:54pm
Letsgetit32, what's your opinion? Comment below:

Hey, I actually just signed on for their FT program as CB analyst. Anyway we could talk more? Im trying to really know what to expect when I graduate. Theres not a lot of info about SMBC around outside of their M&A division. 

Apr 11, 2022 - 5:45pm
Jared__Vennett, what's your opinion? Comment below:

Incoming CIB SA with SMBC here, would be interested to hear more about peoples experience there, comps, hours, etc.. Would defintely be intrested in a forum.

Feb 14, 2022 - 8:37pm
sheldonxp, what's your opinion? Comment below:

Is there an MBA recruiting pipeline for Corporate Banking? I would love to do CB instead of having to slog through IB hours.

  • Analyst 1 in IB - CB
Feb 15, 2022 - 2:24pm

Its not as robust as IB because the attrition rate from analyst to associate is low enough that they don't really need as many people stepping in at the associate level. You will definitely see opportunities at the biggest CB players though, the type of "corporate banking" you probably are looking for is under the IB umbrella so it would be part of that recruiting process for Wells, JPM, anywhere that calls it "CIB" just make sure you end up in some sort of coverage or debt product group, that's what I would call corporate banking (as opposed to cap markets and M&A). However something that I think is interesting is the associate to VP promotion rate is a lot lower and a common path is IB associate to corporate banking VP, I see a lot of guys with this resume at my shop and this is a pretty sweet move considering VP is where you start to enjoy the relationship management focus of corporate banking (if that's your thing). I think you could potentially swing this materially earlier than you would be getting the IB VP promotion. So if you can grind it out you will be a good candidate for a more senior position-- but also at a top MBA I am sure you can get into a BB as associate, it just might not be as clear cut as the IB pipeline.

Feb 15, 2022 - 7:39pm
sheldonxp, what's your opinion? Comment below:

Thanks for the insights! Does me being international close any doors? Not sure if CB sponsors visas like IB does.

Feb 28, 2022 - 2:05pm
HarrisonWells, what's your opinion? Comment below:

Incoming CB analyst and I saw that you said that the associate to vp promotion is much lower. So where do most of those associates go? And why is it so low?

Feb 27, 2022 - 8:17pm
CB SVP, what's your opinion? Comment below:

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