One City for a Long Career in Banking
Hi everyone, I am curious as to whether its best for someone who has the desire to be a career banker, to work within a single city (or at least a single country) as opposed to having stints of work in different places around the world?
The reason I think this is because surely the connections and your reputation will be quickly solidified if you’ve been in the one city for so long. I’d assume as you become senior, being well known like this will make it much easier to bring in business?
Personally, I would love to move to a large city for IB for a few years before returning back home. However, with a long term lens, would it be best to just stay where I live now and build long term relationships with clients here? Given I would return someday anyway?
Any comments are appreciated. Thanks.
Based on previous WSO threads, here are some insights on whether to stay in one city or move around for a long career in banking:
Staying in One City:
Moving Around:
Considerations:
Example from WSO:
Ultimately, the decision depends on your personal and professional goals. Both staying in one city and moving around have their own sets of advantages and challenges.
Sources: Employment Dilemma, Question for Those Who Moved Cities, Are you experienced? Thoughts on growing older, Best cities to start your CRE career, Associate Moving to Bali
T1:Chicago
T1.5:Houston
T2:ATL,CLT,Denver
Hi,
It is much, much easier to build and solidify relationships in one city exactly as you say, and for those reasons. There can be some advantages (particularly if you stay within the same firm) in building a trusted internal network, but that won't outweigh the loss of relationships and local knowledge.
If you stay within the same sector though, it isn't so bad, particularly if you're the subject matter expert on a specific niche sub-vertical.
Now:
1) This type of relocation is much easier to do at the junior level than the senior level - I did exactly what you describe in my AN / AS years and I'm more than happy with how things turned out
2) Life is to short not to - I mean this very seriously
NYC
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