What’s more respected, banking or government work?
Hey guys, I’m considering two paths. Primarily, working in the government after graduation (think 3-letter agency, a cool one). Otherwise, banking. Which of the two do you think is a better long term play? Either way I’d be looking to work for a few years before probably switching to something else. Thoughts?
Working in public service is always more "meaningful", if that is what you mean. It would be most likely less income, but it can be more interesting. Fewer hours, more red tape (yes, more than banking), more processes and principles. But serving our nation is a really good opportunity to give back.
There are at least comparable areas in gov work, ie financial crime, SEC, AML, etc
What do bankers think of people working in government?
If it's the CIA, take that 100% and do NOT look back. I would kill to have a career with them.
If it's the FBI, do banking first. You can get into the Bureau later in life.
If it's neither of those, then ignore what I said and have a good day.
There are a lot of really problematic things with the CIA
Who honestly cares what is more respected? Pick the one that interests you the most and helps you on your long-term goals. No one is going to think you are a schlub if you chose either.
Also you are going to have people on both aisles criticizing both options. You have left/right idiots who think CIA/NSA/FBI individuals are human rights abusers or the deep state. Plus other idiots who think bankers are parasites or snobby elites. Pick what is most interesting to you and screw the other stuff.
Just a heads up, these cool agencies pay next to nothing for entry level roles even if you're coming from an elite university. You really have to be driven by whatever their primary mission is. This gets better over time, and there are some very lucrative exit opps way down the road, but something to keep in mind.
A country I work in has entered into impressive market economy reforms a while ago and what they did is that they hired a lot of guys from banking in Europe and US. So a Goldman Sachs alumnus got to be a director of the local version of SEC, and we've got a CFA charterholder who worked as a VP at HSBC now as a Deputy Minister of Finance. My point? You can always transition to public office with decent banking experience, though I haven't really seen the vice versa way at a scale yet.
The current French president is a former Rothschild banker too.
Depends how you define "respected" – earnings / prestige vs. doing good.
Really in the eye of the beholder; even the above doesn't always fit as some people see gov't workers as grifters.
Echo comments above regarding transitions between banking and government work. If you are interested in politics or public administration, early experience and training in economics and finance will create a better trajectory if you enter banking first and do well.
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