Help Choosing Offers!
Hi,
I have been reading WSO for a while now and I am very thankful for all the advice that people have provided. Normally I do not post, but I have a question regarding an offer that I received. I got an offer to join a BB investment bank (think Citi, Barclays, BAML) for an internship in investment banking. I am a non-target and had to do a lot of networking to get in. I received a call from one of my interviewers (an MD) who works in Debt Capital Markets. He said that he was very impressed with me and that he would very much like for me to join his team (Debt Capital Markets) instead of going into IBD. I have worked in Debt Capital Markets before in a non-paid internship and, so, I am familiar with the work but I know nothing about the compensation structure. I really liked the work in DCM and I was hoping to know, after this summer, whether or not I would like to pursue one versus the other. I am well aware of the fact that each career leads in different directions (exit opportunities etc.). The only thing I am unaware of is compensation structure. I have tried searching on this website regarding capital markets compensation, but I have been unable to get a clear answer. I posted this question in this forum b/c I was unsure where else to do it. I know that base salary is standard across the board, but how do bonuses work (providing number ranges would be great if possible for analysts and above)? People have given really rough estimates, but I am not sure how reliable the information is. If someone could help, I would really appreciate it!!!
I would like to emphasize, again, that I did search WSO already and I couldn't find the info I was looking for. Thank you in advance!!
why don't you just ask the MD b/c as good as our guess is, no one knows for certain for your specific situation
I know that base salary is the same and I know the signing bonus will be the same too. I am unsure about year end bonuses for analysts (and eventually associates/vp/md). I have heard it is about the same as in IBD, but I was wondering if anyone could confirm that? I am not sure it is a good idea to ask him about compensation. If I do join his group, I don't want him to think it is because I realized I could make the same amount of money working fewer hours.
I do appreciate the advice though. I could always reach out to analysts in the industry if I need to. That will be my last resort if I can help it.
A better question might be, what are your other options for the summer? It sounds like this is your only BB offer - might be better to take.... but what else are you choosing among?
This is probably not much of good advice, but... Bonuses depend on revenue - if you could figure out the revenue differential between DCM and other IB groups - you'd have more or less an idea of what the comp will be.
nyg92,
I have a choice between investment banking and DCM within the same BB bank. Both offers are on the table at this point.
tandaradei,
I am not sure how to do that. I could perhaps speak to some people in industry and get their opinions.
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