Retail Banking?
Hey everyone,
So I know everyone here looks down upon retail banking. I understand why as well, but it seems as if it's my only opportunity as of now. I'm currently a senior at a non-target and have had multiple ib interviews but no offers. I've interned at two boutique IB but they could not extend an offer because they simply couldn't afford too. I still have a few months before I graduate and I will continue to network and apply for jobs but my chances are looking pretty slim. Any advice on this?
Also, I think I'm going to go ahead and accept my only offer, which is a position as a Relationship Banker since I have so much anxiety about graduating without a job. I'm super broke and in desperate need of an income right now. What are my chances of being successful enough in this role and eventually being able to lateral to a different position within this bank?
Also what is the career progression like if I were to stick it out in retail? Right now they're offering me 50-60k, what would my salary look like in 3-5 years? And would I receive any commission on the CC's/ accounts I've opened?
Thanks
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nothing guys?
no problem. I'm getting rich off of bitcoin haha
Have you tried to break into Private Wealth Management? It's not too hard to break into and it looks much better on your resume than Retail. If you join Retail banking as a relationship banker, you will be pigeonholed and you can say goodbye to Investment Banking or any other high-profile jobs in Finance.
What positions in PWM do you suggest I apply too?
bump
Junior positions as an Investment Advisor. Make sure the role is Front-Office at a Bulge-Bracket bank if possible. If you pursue an MBA in the future, you can break into Investment Banking.
I'm sorry but I'm not really understanding. Could you please give me an example of some of these positions?
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