Macquarie ER (maybe) vs Citi ER in Buffalo
So before I had an offer from both firms for ER. Now i have found out I will have to have Macquarie put on the backburner and reapply for positions in 3-6 months (internal movement conflict) but no guarantee of a spot or a spot even being open.
So do I take the Citi ER job in Buffalo and hope I can get out in a year back to NYC
or
do I take a gamble, stay put, and hope there will be positions in the 3-6 month time frame or hope I can have some luck at another firm in NYC (ive been applying for a while with little luck)
There was obviously interest for me at Mac, but is it worth hoping they will have spots in the future to stay away from Buffalo?
A bird in hand...
It might be different if this was a bigger name than Macquarie, but just take the Citi job. You can always lateral out, if they won't promote you to NYC. At least it's a decent firm and real experience.
Thanks, as an FYI I currently am at Mac (hence internal conflict talk) in MO
Have you told Mac that you are leaving, if they don't give you the ER offer? That might help sway them, if they like you enough. Otherwise, just go with Citi.
Yea, they are aware but it appears the waiting 3-6 months is still firm. Meanwhile im sure they will be interviewing other candidates so its really if new roles open up. Mac is growing but again, lots of execution risk
Macquarie ER or Citi ER in Buffalo (Originally Posted: 10/17/2012)
Have an offer for Macquarie Research in NY (where i live) or Citi Research in Buffalo (they send associates there for 2 years before moving them to the city now for cost cutting measures). Same sector. Citi analyst is highly ranked, Macquarie analyst is not so much...
What should I do?
Pay at Macquarie will be substantially higher (due to Citi reducing pay for lower cost of living) but is it worth sucking up the lower pay to have the BB on the resume?
Citi is one of the lower ranked BB's for ER, does having that on my resume over Macquarie set me up better for long term exit opps?
No to the Citi post. You will get stuck there. Why? There is an initiative to migrate jobs from the city not to the city.
stay in NYC
Thank you for the comments guys, its been a tough decision.
The say that its a two year stint then they send you to NYC or SF depending on sector. The guy I would be replacing did 14 months in Buffalo then was moved to NYC.
Is having Citi vs Macquarie on the resume that much of a boost if I wanted to move to another BB (if i got sick of buffalo or just wanted a better firm on my resume than macquarie) ?
Lets just say I am familiar with the Buffalo office. The thing is all the talented heads are in NYC. So when it comes to networking where would you want to be? in your earlier years its about your contacts and what you can pick up in your current role. Most of those guys are vying for a spot in nyc while networking long distance.
Absolutely take the Macquarie offer in NYC. Despite what the Citi recruiter may tell you on the phone, they try to keep you in Buffalo for as long as possible and you only are even considered for a move if there is an opening (i.e. someone on your team in NYC leaves the firm). Also you will learn a ton more sitting next to your analyst in NYC due to hearing him on phone calls all day, meeting clients, going over models with him in his office rather than teleconferencing, etc.
Also consider your LT goal, unless if you want to be a sell-side analyst forever. If you're in NYC, you might have more opportunities to meet management teams and sit in on client meetings. This will help you broaden your network if you want to move to the buyside or into the industry.
Also a non-BB might provide an opportunity for you to prove yourself and start covering your own industry/sub-industry/companies in 2-3 years. At BBs, you could end up being a professional senior associate for 5+ years.
Thanks again all,
This has been very helpful, before this I was leaning towards Citi due to the brand name and the opinion Macquarie may not provide an opportunity to meet too many clients either since they arent as often read on the street.. but this is definitely helping a lot
Maq is growing. Take it.
This should be easy. Think about where you'l be living. If you pay any attention to the great philosopher Marshawn Lynch, it seems that there's not much more in Buffalo besides an Applebees.
Screw Buffalo, don't let them fool you.
Oh the sense of entitlement is strong here...
Anyone in industry knows 1 thing, jobs are flowing out of NYC like crazy. GS is investing heavily in SLC and moving FO roles out there, hell DB has FO roles in JAX and many trading desks are moving down with the new investment and the list goes on. This idea that you must be in NYC to get where you want to be is downright crazy. I can't tell you how many of my friends have moved to London of Hong Kong in the past 1-2 years.
If you really want "it", take the job that will best position you for your career. If Citi ER is better based on your research, take it. Most importantly, have a better understanding of the relationship between ER and clients within Citi, if you're getting "facetime", it doesn't matter where you are. If you perform, you will get noticed. Also, Buffalo is a hour away from Toronto, which is a "mini" NYC and COL will put more money in your pocket.
Basically, if you kick ass ANYWHERE, you will get what you want out of your career. The flexible people who will go to the ends of the earth are the people who make it.
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