Offer deciding and Career path?
Hello senior bankers and fellows, first time sending a post. Thanks for the time reading first!
BG: Finalist (3rd Year) Economics student at Uni of Warwick, Chinese (Shanghai), male, will do one more year in postgrad (Imperial pure Finance confirmed, pending LBS MFA on 14th March)
Internship: MS IB SA in Beijing last year; together with a couple of other financial exp (financial derivatives in CN, VC in UK) and some less related consulting exp
Offer this year: NatWest Financing Solutions (seems like corporate banking and some commercial banking to me, pls correct me if not) vs. FTI Consulting EFC (economic and financial consulting, mainly covering valuation of trademarks and patents + economic regulatory advice on merger/competition in tribunal cases so very econ work, which better fits with my uni background). Unfortunately no ibanking offer this year
More details: Both have similar return rates varying each year and take 2~3 years to promote to the next level; Both firms performed well in FY23 (revenue, income, EBITDA all on the rise); NatWest offers higher compensation (summer salary ≈ FTI ft)
Long-term goal: kickstart in the UK and work for 3-5 years, then shift back to Asia (HK or SH strongly preferred)
Main concern: 1) concern about resuming IB. Talked to many UK bankers and 80% said the industry is still worth joining, while feedback from APAC seemed more diversified. In this market, should I continue pursuing IB in the UK? 2) If I join NatWest CB this summer, would it be easier if I recruit again for IB Grad/summer roles or engage in lateral recruiting after 1-2 years? 3) Also considering if econ consulting is a good industry to enter at this moment. Ppl already in all said highly of it so would like to leverage a second thought.
Many thanks for your time again and would really appreciate any cmts/thoughts on which firm to join and future career paths! Cheers!
Ahoy there! Max the Monkey swinging in with some insights. First off, kudos on navigating the high seas of finance and consulting to land yourself some solid offers. Let's peel this banana layer by layer, shall we?
NatWest Financing Solutions vs. FTI Consulting EFC
NatWest Financing Solutions seems to offer a blend of corporate and commercial banking. This path could provide you with a robust understanding of financing solutions across various industries, which is invaluable. However, if your heart's set on investment banking, this might feel a bit off the beaten path.
FTI Consulting EFC, on the other hand, aligns closely with your academic background in Economics. The focus on valuation, trademarks, patents, and economic regulatory advice offers a unique niche. This could be a golden ticket if you're looking to specialize in an area that's both challenging and rewarding.
Long-term Goals and Main Concerns
Shifting Back to Asia: Both paths have potential, but consider which skill set might be more in demand or valuable in the Asian markets you're eyeing. Consulting, especially with a focus on economic and financial consulting, is highly regarded globally and could offer more flexibility in terms of location.
Resuming IB: The feedback you've received is a mixed bag, but the allure of investment banking remains strong for many. If IB is your ultimate goal, remember that the journey there can be non-linear. Many have transitioned from related fields like corporate banking or consulting into IB with the right networking and lateral moves.
Recruiting for IB Grad/Summer Roles or Lateral Recruiting: Starting at NatWest and then aiming for IB through grad/summer roles or lateral moves is feasible. It might require additional effort to network and showcase your relevant experience, but it's a well-trodden path. The key is to maintain and build connections within the IB industry while you're working.
Econ Consulting as an Industry: Given the high regard you've noted from insiders, econ consulting could indeed be a wise choice. It's a field that offers deep intellectual challenges and the opportunity to work on high-profile cases. Plus, the skills you develop here—analytical thinking, complex problem-solving, and economic modeling—are highly transferable and sought after.
Final Thoughts
Both offers have their merits, and your decision should align with where you see yourself in the long run. If you're leaning towards investment banking but are intrigued by the unique opportunities in economic consulting, consider which role might offer the best stepping stone towards your ultimate goal. Remember, the path to success in finance isn't always linear, and each experience you gather will add to your toolkit.
Cheers and best of luck, mate! Remember, in the world of finance and consulting, being adaptable and open to learning is your greatest asset.
Sources: , FT Recruitment Coming Off An PE Internship, 2018 FT Consulting Recruiting Timeline, Asset finance - exits and career path, Accounting vs Finance: Part 1 – Career Paths
Bro please dont dox yourself with your username
Cheers mate, thanks for the tip, just changed :)
FTI if that's your long term goal.
Seems equally difficult for corporate banking/consulting -> IB lateral, but consulting has more exit opps to other industries vs corporate banking.
Thanks mate good to know that! Also will see how LBS goes before making the final decision
Lots of identifying information, would probably delete this soon if i were you
Non omnis magnam facilis placeat non deserunt. Aut non sunt excepturi eos consequatur ab ducimus. Beatae eum minima porro quis culpa. Dicta voluptates ut in aut provident. Impedit itaque a aut sunt sit illo ipsum sed.
Pariatur vero sit facilis dicta sed. Quas accusantium aut adipisci quia tempore.
Voluptatum neque beatae dolor est at culpa sed placeat. Culpa soluta laboriosam sunt excepturi. Dicta non quaerat similique et. Fugit quae distinctio deleniti minus.
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...