Business development at growing software company or commercial banking financial analyst program?
What's up WSO,
Wanted to get some advice on picking the right job out of college. I am currently a senior at a non-target studying finance with a minor in comp sci. Last summer I did a BAML/WF/JPM summer analyst internship in an ABL division of the commercial bank and received a return offer to join their 3 year analyst program (I signed the employee-at-will offer). However, about 5 months ago I found a part time internship at a local software company who was looking to have market research conducted in the rather new and fragmented industry they are in, so I thought it would be a good way to keep money on the table. I have been blessed to have had tremendous success over these past 5 months and upper management has decided to make me an offer competitive with the Bank one.
My question is obviously what is the better opportunity, and specifically, which one would be more valuable for my career goals (grad school and consulting stint)? This software company is growing rapidly (400% rev growth in the past year), and has a high likelihood of getting bought out by an F100 in the next 12-18 months, Starting here in a business development role would give me good communication and critical thinking skills and I could probably walk away with some cash in the event that we sell (as well as a likely pink slip from our buyer). I would gain the typical commercial banking skillset if I went the Bank route. Additionally, I have already signed a contract and would therefore be burning a serious bridge f I abandoned the Bank now.
Thus, my two questions to you:
1) In your experience in startups/growth software companies where the exit strategy is a strategic acquisition, do the perks of being part of the target company (stock options, etc.) outweigh the possibility of being let go post-acquisition? (purchase price probably +$100 million)
2) Would participating in this rapidly growing company straight out of college be a better career bet then a structured analyst program?
Curious to hear your thoughts. Thanks.
Props to you for doing well at the software firm.
I think this is a classic risk vs. reward situation. There are obvious pros and cons with each opportunity.
In my opinion, I think working for the software company offers a better, more interesting, more unique experience than working for a commercial bank. I'm not sure its going to help you get into management consulting pre-mba but I think it has more utility for your b-school application down the road.
One other thing to consider, and I think it isn't considered enough on this forum, is where are you going to succeed? You have done well at this software company and already developed a track record for success. Management has rewarded you with a competitive offer and stock options. They clearly trust you and value your service and have created an environment in which you can excel. After the founders harvest their company, they will certainly look to do something else and will look to surround themselves with trusted proven employees. I think this is more valuable than the skill set you will get at the bank.
My 2 cents--I'd be interested to hear some other experienced professionals opinions.
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