I'd appreciate some help with making the following choice:
London FT offers for RBS rates structuring vs HSBC structuring & trading (rotational programme)
My thoughts currently:
Why RBS? Very strong in rates, at least in the UK. Really like the culture.
Why not RBS? Previous uncertainty over profits.
Why HSBC? As I have no previous banking experience, their rotational programme is appealing. It rotates across roles (structuring and trading) as well as desks, which is useful for me as I'm interested in both roles. Really like the culture here as well.
Why not HSBC? May end up at a desk I don't like, when I'd be happy with RBS rates.
Any help is appreciated. Feel free to rip into my thought processes as long as it's constructive.
Thanks
Anyone with experience of either?
Do RBS.
If you think you want to trade, I'd do HSBC, if not, then RBS if you like the rates side.
Definitely HSBC- if you're good and highly motivated it's unlikely you will end up on a desk you don't like...they usually let you choose. Plus HSBC Global markets is 10x better than RBS
Thanks for the feedback. People I have talked to seem to have very polarised views on this choice, which is interesting but a little confusing. Anyways here's why I'm currently leaning towards RBS:
Tbh, I can't be making a bad decision going one way or the other, I'm thankful for the offers that I have, so I'm just happy to hear some views from other people, especially if they feel any one of the above points is just plain wrong.
Thanks
Wouldn't you be a government employee at RBS?
About to ask the same thing. Doesn't being owned by the government concern you?
I think it might be more difficult to transition from structuring to trading than they might suggest, but I don't know the desk to be fair.
I don't know anything about either, but everything your saying points to the fact that you've already decided on RBS.
If you like the people and culture of the rate structuring desk, go with RBS. In this business, many times you will see the biggest jump in comp from switching firms. At the entry levels, your comp will be in-line across the board. Go where you can progress fast enough (and this is a function of how much the people on the desk like you and are willing to mentor/give you responsibility) so that you can start naming your price.
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