I do regional coverage in a satellite office. My bank’s US HQ is in NYC. Absolute NON STOP FOMO. Constantly being left out. I hate it honestly. Really hoping I can lateral soon because this makes me want to quit. Anyone else experience this?
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Ah, the classic case of FOMO (Fear of Missing Out) in the satellite office jungle! It's not uncommon to feel a bit like an outsider when you're not in the throbbing heart of the action in NYC. But before you swing from the vines in despair, let's peel back the banana layers on this one:
Lean Deal Teams: In a satellite office, you might find yourself in a leaner team, which can actually mean more responsibility and client exposure. It's not all bananas and bad times; there's some serious career nutrition to be had in those experiences.
Cross-Office Staffing: While it might not be the norm, sometimes satellite office denizens do get staffed across offices, especially when there's a need for specific expertise. So, there's a chance to break into the broader scene.
Regional Strengths: Some satellite offices are powerhouses in their own right, handling their sector independently and bringing in significant business. If your office is like this, you're not just a small monkey in a big jungle; you're part of a tight troop that's got its own territory.
Exit Opportunities: While exit ops might seem strongest in the city you're in, don't lose hope. There have been cases of people successfully recruiting across the country. It might be a bit tougher to swing into NYC, but it's not impossible.
Social Scene: It's true, the social scene might not be as bustling as in NYC, but smaller offices can foster a close-knit group. It's about the quality of the connections, not just the quantity.
Prestige Perception: While some might view NYC as the pinnacle, remember that prestige is in the eye of the beholder. If you're doing great work and your office is pulling its weight, that's nothing to scratch your head about.
If you're really feeling the jungle blues and are set on making a move, it's worth exploring lateral opportunities. But don't forget to leverage the unique opportunities your current satellite office offers. Every jungle has its perks, even if it's not the one you originally envisioned swinging through. Keep your chin up, your network active, and your eyes peeled for opportunities to climb the finance tree to your desired branch!
Sources: What is life like in an IB satellite office?
Tbh my satellite office is the complete opposite.
Pretty lean team, very chill culture as we hire based on fit. Zero FaceTime culture as seniors mostly travel and us juniors just grind it out until we get our dinner delivered then dip.
I’m sorry ur group sucks.
Not my group man. I like them. Just tryna lateral to NY
Yeah I get it man, hope u get ur opportunity this year!
NY is a shithole
What do you not like about NYC? Manhattan seems a lot better than SF to me as far as T1 cities go
Dirty, homeless, stinky, expensive etc. Would much rather live in a cleaner city
Again, it seems like you’re comparing NYC to T2/3 cities. Nothing wrong with that, but you’re trading out the city life for more suburban life.
NYC is a lot cleaner and safer than the West Coast hubs (e.g., Seattle, Portland, San Francisco). COL is not materially different between these cities either. Can’t speak much on Chicago, but I’ve heard it’s a bit slower of a city compared to NYC.
Texas and Charlotte may be cheaper and cleaner but you’re missing out on the network and social life. And Miami is still in its relative infancy as a finance hub.
Very interested to get your perspective here.
lol at having FOMO in banking.
I have the opposite of FOMO in banking. Fear of being involved.
You are dumb lol trust me. My homies in a regional office love it more than I do in NYC HQ
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