I have been working at the same bank for 5 years now.
The only reason why I’m in IB is money.
Do you guys recommend I switch bank if I want to make more money? Do people who switch bank actually make more money? If so, why is that, is it because you get a sign in bonus? How much is the signing bonus?
PS: I am based in London
thanks all
| +28 | Whats the point in even trying to get into this industry | 6 | 1d |
| +17 | Am I cooked? | 5 | 3d |
| +15 | Frustrations with Lateraling? | 1 | 4d |
| +14 | Feeling Lost | 5 | 3h |
| +10 | finally made the transition Corporate Strategy (10+ YRS) to IB | 4 | 1d |
| Choosing between | 8 | 1d | |
| +9 | Senior Summer vibes | 1 | 6d |
| +9 | Georgia Tech EE / Semiconductor Background. How realistic is IB? | 0 | 5h |
| +9 | What Services Do Animation Outsourcing Companies Typically Offer? | 0 | 4d |
| +9 | Final-Year with no offers | 4 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Based on previous WSO threads, here are some insights regarding switching banks to make more money, particularly in the context of Investment Banking (IB):
Switching Banks for Higher Pay:
Reasons for Higher Pay:
General Trends:
For more detailed discussions and personal experiences, you can refer to the following threads on Wall Street Oasis: - https://www.wallstreetoasis.com/forum/job-search/signing-bonus-relocati…</a">Signing bonus, relocation fees (London) - https://www.wallstreetoasis.com/forum/investment-banking/why-do-people-…</a">Why do people in banking change firms so much?
These threads provide valuable insights and real-life examples from professionals in the industry.
Sources: A Guide for Switching From Commercial Banking to Investment Banking, Signing bonus, relocation fees (London), A Guide for Switching From Commercial Banking to Investment Banking, Is it a mistake to be Loyal? Should I lateral?, Why do people in banking change firms so much?
Depends. If you do see yourself in this industry long-term (even if that reason is just the money), then the long term needs to be your main goal here, and you want to position yourself somewhere where you can grow.You want to be at a team which has good dealflow, a support mentor / senior group in your team specifically, and where there is room for you to learn / develop. The big bucks are a long game. It's difficult to really understand any of this for a team you haven't worked for, but you should have a good sense for it in your current team. Team is as important as bank - if even a low "tier" bank is commited to IB at all, and has 2 outstanding teams and 5 below average teams, it pays VERY well to be in one of those 2 teams. That said, yes, some banks do pay more, and outside of being a partner at a small boutique, the BBs / EBs (especially American ones) tend to pay more - but this is quite marginal versus the effect of your own performance.
In the short term, my view is that it usually doesn't pay. (1) Yes you can negotiate a sign-on bonus ("how much?" is a bit of a naive question - it depends how much they want you and there's not much of a benchmark - as an Associate though, and in this market, I doubt you'll have a lot of leverage). (2) Understand that as the new guy, you will probably get shafted on your year-end bonus for the stub year (and maybe even the following year); sorry but daddy has other mouths to feed in the team, and as the new guy you're low on the "flight risk" list. (3) You're going to be on probation for 6 months immediately and you know what that means.
Velit et earum error natus qui sit cum. Perspiciatis nam excepturi doloremque minima unde ipsa. Eos laborum odio porro aspernatur officia. Quibusdam aut assumenda recusandae eos laudantium in. Quasi consequatur voluptas iste eaque nobis minus reiciendis.
Qui aut recusandae qui voluptatibus omnis quis. Atque corrupti ex voluptatibus quod dolorem. Voluptate ducimus et enim excepturi. Tempora est doloribus itaque ut.
Quibusdam expedita et dolorem vero rerum ea beatae. Repellat laudantium et voluptatem perspiciatis omnis. Animi minus blanditiis ut laboriosam incidunt voluptatum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...