What is the Finance division in a BB?
I would just like some insight into whether the Finance division of a BB is FO, MO or BO?
I know that some banks call the M&A stuff 'corporate finance', that's not that one I'm referring to. I'm interested in the division which deals with monitoring market risk and manages the liquidity. Correct me if I'm wrong but I think that's like Corporate Treasury?
Anyway as you can probably tell I'm quite confused and would really appreciate if someone can clear that up for me.
Secondly I'd like to know what the typical hours are like and the relative prestige?
Finally, what is the typical salary like (at a BB)? I'm sure as it's not a money-making division the bonuses won't be particularly noteworthy.
I'd like to be making around $150k in all after 4-5 years of working, is this achievable in this division?
Thanks.
It's back office. To my knowledge it's like financial controls and whatnot.
I don't know that much about the salaries, but my guess is you'll be making less than $150k there after 5 years. It's not comparable to banking in any way shape or form
I thought finance was MO not BO
is this $150K in NYC or elsewhere jabroni?
Most people probably consider the Finance team at a bank to be MO. Some groups within Finance do make the firm money (treasury, corp dev, etc), but they're not really considered front office since the function isn't the core purpose of the firm, ie investment banking at an investment bank. Most firms put their internal audit/tax groups within "Finance" too which is probably more back office accounting work.
Hours are dependent on the group, but on average, probably 55-60ish. The accounting guys were more on the 45-50 end, though.
At my firm, base salaries are pretty close at most levels...but yeah, bonuses will be far away from the FO. I think your all-in comp could be close to $150K 5 years in, but I also work at a PE firm as opposed to a bank, and our "Finance team" spans across a bunch of different roles including valuation...
Not sure what you're looking for in terms of your prestige question.
He's looking to troll..
DUHHHHH!!!
Who gives a shit if it's "MO" or "BO"? If you're not first, you're last.
That doesn't make any sense at all, you can be second, third, fourth... hell you can even be fifth.
At my firm, almost every person is finance and/or accounting.
Quick question.
What set of skills would you need to be in the Finance divisions in BBs? Are people in that division typically traditional Finance majors or are the majors diverse?
Non et ut nobis error quos et voluptatem. Aut debitis magnam qui inventore ut ut. Est ut voluptatem voluptas. Laudantium nulla rerum ratione. Incidunt libero omnis officiis cum quis.
Rerum in et incidunt sed eum voluptatem culpa non. Architecto voluptatem repudiandae quasi in veniam recusandae nobis. Alias animi eos voluptate soluta.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...