Am I getting screwed? Offer Advice
I have fortunately secured two offers. One in IB and the other at a data supplier (FactSet/Bloomberg type place). I prefer the IB job role and will certainly learn more useful skills in the long run but for some obscure reason the comp and benefits for the IB is significantly worse, so much so that I am now having to choose between a job I have no interest in (and won't give me skills/future ops) or between a job with terrible pay and benefits (holiday days etc). What would you do?
Just an intern but ask yourself whether the pay is worth doing a job you don’t like or can’t see yourself in. We are young, so if you can invest in your human capital in IB even if you take a pay cut now, then you should consider that.
After all, you could still lateral to another bank later on with a more relevant prior experience and skill set if you start in IB.
It’s a bit strange that the IB job has terrible pay, etc. Can you elaborate on that? All reputable banks that I know of have relatively standard pay (slight deviations in base and bonus with a few outliers), so something seems off. Usually a firm that significantly underpays like that has other issues and you may not be getting a good experience there. The upside is that it is relevant to what you want to do, so it will keep doors open for laterals, but I would be pretty concerned.
Thanks for response. Yes so basically its an 18 month programme on this pay/benefits before they have the option to promote you to an actual analyst level. It's not a gurantee though that they will progress you. I'll be the analyst on the team and all the responsibilities/tasks will be of a typical analyst, which is why I feel I'm being played a little.
look at that old thread with all the scam ib's check it's not there
Link? It's with a big name bank so don't think its a scam as such!
Oh if it's a big bank I doubt its a scam but for reference: look up on WSO - Scam Internship List: Be Aware
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