I am in the final round of Bank of America Corporate Debt Product Analyst and Wells Fargo Commercial Banking and Corporate Banking. Which one would you take if you got offered both? Thanks.
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definitely take neither
haha... well what if they're my only choices?
I'd go by where the offer is geographically. If both the same, I'd go to BoA.
grad school
Man go with Wells Fargo. Bank of America is getting beat down left and right at this moment. They laid off 5% of their Global Markets and Investment Banking division, and laid off about 30 prop traders. I think they will have more layoffs with this foreclosure crisis that Bove estimates BAC will have to repurchase up to $74 Billion worth of packaged mortgages. I know this doesn't affect CDP, but its the company as a whole.
I was offered a CDP job last year and the pay was 60K +3 sign-on. What bank pays a 3K sign-on.man that is some weak sauce.
PM me if you'd like. I saw your around the Dallas area, so I'm sure its for the Dallas office. I know about 3 or 4 guys that are working there.
P.S They had some idiot industry coverage SVP that knew absolutely nothing about the current macro-environment. I asked him questions about the treasury debt purchases and its effect on corporate credit and yields and he just looked at me(the guy worked in Corporate Debt Products!!), also had no idea about the acquisition of Countrywide..
BAML hands down if you are in a front office role.
The CDP is not really a front-office role. Very little exit opps, beyond credit risk and loan servicing. The WFC is a front-office role
Wells, for whatever reason, is still thought of as more of a commercial bank. That said, the Wells position sounds more like banking. If you provided more color on the jobs or decision-making criteria, we could be more helpful.
Great comments, thanks. The positions that are available with Wells Fargo are:
Commercial Banking Group, Corporate Banking Group, Diversified Energy Group, & Credit Resolutions Group. Which of these groups are front office? How would you rank them? How would the salaries compare between these and BOA?
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