Mm offer

Based on the most helpful WSO content, here's what you need to know about S&T at super-regional banks like Fifth Third, PNC, and Truist:

1. Compensation Ceiling and Progression

• Full-Time Analyst Compensation: At super-regional banks, the base salary for S&T analysts typically ranges from $70k to $90k, with bonuses adding another $10k to $30k depending on desk performance and market conditions. This is generally lower than bulge bracket banks but competitive for the regional level.
• Comp Progression: Over 5-7 years, comp progression at super-regionals tends to be slower compared to bulge brackets. By VP level, total comp might range between $200k and $300k, whereas bulge brackets can exceed this significantly. However, top performers on profitable desks may see faster growth.

2. Work-Life Balance (WLB)

• Super-regional banks like Fifth Third are known for offering better WLB compared to bulge brackets. Expect 50-60 hours per week on average, with less pressure and fewer late nights. This makes them attractive for those prioritizing a balanced lifestyle.

3. Desk Culture and Training

• Desk culture at super-regionals is often described as collegial and less cutthroat than at larger banks. Teams are smaller, fostering closer relationships and more direct mentorship.
• Training programs may not be as robust as those at bulge brackets, but you’ll likely receive on-the-job training and exposure to multiple asset classes, especially in FICC (Fixed Income, Currencies, and Commodities).

4. Exit Opportunities

• Exit opportunities from super-regional S&T platforms can be more limited compared to bulge brackets. Common exits include:
  • Corporate Treasury roles at regional or Fortune 500 companies.
  • Risk management or portfolio management roles at asset managers or hedge funds.
  • Moving to larger banks is possible but may require strong performance and networking.
• If you’re aiming for top-tier hedge funds or private equity, a bulge bracket background is generally preferred.

5. Long-Term Suitability

• Super-regional banks like Fifth Third can be a good fit for those seeking a long-term career in S&T with a focus on stability and WLB. However, if your goal is to maximize comp or access elite exit opportunities, it may serve better as a stepping stone to larger platforms.

6. Comparison to PNC, Truist, and Others

• Compensation and culture at PNC, Truist, and Fifth Third are fairly similar, with slight variations depending on the desk and location.
• PNC and Truist may have slightly larger trading operations, offering marginally better exit opportunities, but the differences are not significant.

Final Thoughts:

If you value WLB and a supportive culture, Fifth Third could be a great fit. However, if you’re aiming for top-tier exit opportunities or rapid comp growth, you might consider transitioning to a bulge bracket or larger platform after gaining experience.

Sources: Sales and Trading - A Comprehensive Guide, 2021 S&T Bonus, Sales and Trading - A Comprehensive Guide, 2021 S&T Bonus, BB S&T Bonus Progession