Whats the deal with Middle-Office Finance at an investment bank?
I've heard mixed reactions from a lot of people about middle office finance at BBs. Some people tell me that its completely legit, mainly because you work so closely with traders etc. and get exposed to all areas of the investment bank whether it be IBD or S&T. Others have told me that once you are in a back or middle office role, its extremely hard to lateral into a front office position because you're "back office branded for life". I tend to think the former is more correct although when it comes down to it, its definitely not IBD.
For someone that wants to go into the front office (IBD, S&T) full time, will having a solid middle office finance internship at a quality BB make you a qualified candidate for full time? I would be more than happy to work in a finance department and will likely do so this summer, but I want to make sure that I have options for FT.
Thanks
"Middle office" is a euphemism for "back office". Anybody who says "I want to work in either S&T or IBD" isn't qualified for either.
i was making a general comment about front office. i am extremely interested in IB and know thats what I want to do. i only put both in parenthesis because i'm sure there are prospective traders that have the EXACT same question.
i was just asking a question man.
dont worry man, classic example of analysts/prospective analysts blowing off steam thinking theyre hot shit
My opinion: you may still be ok for FT.
I think the "branding" process come in once you're started working in the back office fulltime. It's extremely difficult to move to the front office from back office once you're working full time. Companies want to "mold" new analysts, not transfer paper pushers (being blunt here, but you get the idea).
Shouldnt be a problem.. I did an internship in middle office (credit risk) and landed an FT job in S&T... so relax.
verdelium or anyone who has had an internship/FT in middle office, can you elaborate on your experiences? did you wish you were doing bigger and better things the whole time? or were you learning a great deal/exposing yourself to areas of the bank that may be of interest to you in the future?
I know someone who did a back/middle office gig at MS and got an FT offer at WestLB.
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