CLT vs NYC Help
So I’m considering two offers. I’m interested in Sales and Trading and markets - fairly sure that’s the route I want to go down.
I have two offers - one in NYC but it’s in structured finance and at a smaller international bank, while the other is on a trading floor in Charlotte that would let me rotate desks. I most definitely think the role and bank in Charlotte is a million times better but I’ve always been near New York and I really can’t imagine living anywhere else.
Which should I take? I believe role>>location but I’m worried about how long it would take to get back to the city I love.
I'm gonna guess you are debating Japanese bank NYC (SMBC/MUFG/Nomura) vs BB Charlotte (BofA/WF). I would take BB rotation, allows you to learn products and figure out what you're interested in. Keeps the door open to seek internal mobility if you kill it, and worst case a MM would definitely look at your resume when it comes to lateral just due to experience and brand at BB
What would the path back to NYC look like in that case and how difficult would it be to get back? And what would the timeline look like.
Would another BB not look at my resume?
As a student from CLT who is pursuing a career in S&T, I relate to this. Go look on linkedin / reach out to some guys in S&T that have been in Charlotte / ATL their whole career at the same desks here (BofA, WF, Truist, Stifel, Baird). Ask them if they regret not going up to NYC to start there career. Close connection of mine has been southeast MM FI sales his whole career (close to family) and does great for himself and has plenty of clients in NYC. However, he has mentioned the downsides to it. Figure out if it's a deal breaker for you or not. Feel free to PM with any questions as I have also thought about this alot haha.
Easier to get to NYC at a lower tier shop when you have a BB experience and brand behind you. Not that other BBs wouldn't look at your resume but why would JPM hire a WF guy out of CLT when they can interview and hire a guy right across the street who is ex-MS?
Time line probably resembles 1-4 years, after you've developed enough relationships to add value to an RBC/Mizuho type, or after you have solidly learned a product that the smaller desks can plug and play without needing to spend a ton of effort teaching to a new hire.
Got it yeah makes sense - once at a lower tier shop is it possible to move to a BB though? Or is that it after that
Also, what would the timeline be to transfer internally? I don’t have a problem staying within the bank I have an offer for
Possible but definitely need to be top of your class
Internal usually depends on headcount or business need. Would guess 2 years or more
If your offer is at wells the rumor is that they are trying to grow NYC and are open to people transferring to NYC after a couple of years. US Bank and Truist are the other 2 firms with bigger operations in CLT and I'm not sure how open they are to people moving to NYC.
It is Wells
So should NYC be pretty doable to internally transfer? Also wondering about lateraling out and how long that would take potentially
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