BAML M&A vs BlackRock PAG?
I was fortunate enough to receive offers from these two groups, both with very different opportunities. I have around 24 hours to make a decision, and would greatly appreciate any input.
BlackRock (Portfolio Analytics Group) - base is almost 2x as much as BAML, and the work is definitely more technical. Would be basically working with Aladdin in analyzing portfolios, risk, and stuff like that. More of a startup culture, dress code is business casual, super open to innovation. The name can't hurt either: it's THE biggest asset manager in the world. Ideally, I'd love to work in an investments team rather than PAG, but they thought my skills would fit PAG better and everyone says it's probably the best place to start.
BAML (LatAm M&A) - what attracted me to IB was the relationship-driven aspect of the business, and how at the end of the tunnel you get to work with clients and bring in deals. I can definitely handle the hours (I already pull back-to-back all-nighters in college, let's just say I have a very demanding course load and extracurriculars), and I'm aware that the work of an analyst is mostly crunching numbers and editing PowerPoints. I love the people, however, and probably wouldn't be looking at an exit early. In the case of an economic crisis, however, I'd be basically unemployed.
Any insights would be greatly valued! Currently it's a 50/50 for me, I don't think I can go wrong either way. I'm mostly wondering what are the exit opps like for BlackRock? And if I would be crazy to turn down either of those, and why?
How much would the BlackRock gig pay
not sure I can disclose the info, but it's a significant difference (think like pretty much 2x higher, and I know the hours aren't that different)
2x including bonus? NFW
bump
I would ask myself these questions as I know very little about each group. Very general advice, but I find it helps myself when I face a tough decision.
Look 20 years into the future. Where do you see yourself? Is this where you want to be? If not, where do I want to be? How can I get here? If I am on the right track don't change anything.
Is this the kind of life I want to live? Am I around people I want to be around? Is my significant other happy? Am I happy? If I am not, make the change today.
Is the BAML LatAm m&a role in New York / US? Does it historically have any analysts lateral to PE or other exit opps?
The PAG group sounds like it’s more risk, portfolio analytics type work. Unless theyve historically had people move internally (with relative ease / or it’s encouraged) to the investments side of the house, the skill sets seem to be quite narrow. For instance... have people coming from the PAG group (out of undergrad) been able to move to say the private equity team at BlackRock? Or some of the other investment groups?
I would focus more on what kind of skill sets and responsibilities you’ll develop and get in each role, and **which of the two roles are more relevant **to your near and long term goals. Unless you are really strapped for cash, focus more on the above and relevance as key criteria for your decision, pay should be secondary.
Assuming it is BAML M&A NY I think it is a safe bet that they pay standard IB base around 85K. OP says PAG is pushing 160k? Out of UG? Perhaps the bonus for PAG is much less which might bring the total comp closer together.
In terms of choosing I agree with Kanon's assessment on PAG being potentially less transferable to different industries / jobs.
I was in a very similar situation, with a rotational program at BlackRock and IB at a couple firms. For me, it ultimately came down to this:
a. I enjoyed the environment of banking much more, and although the exit opps are comparable, banking offered me a more clear path to management, which is what I wanted
b. Overall I feel like AM is a career that requires you to do work where you'll think critically and employ an increasingly specialized skillset, but with few direct, tangible impacts. Banking might be more number-crunching type of work, but provides a much more tangible impact as you get to work on deals.
c. Compared the teams, which was also a very important factor to me. Who would I like to work better?
d. I felt better going into a non-rotational program where I'd know from day 1 what I'd be working with, who my supervisor would be, etc. I guess that's not your situation, it seems, but might be for others.
e. BlackRock overall encourages internal mobility, and PAG is in fact the starting group for most Portfolio Managers. I'd be doing half and half, but if analytics is not what you want, then consider elsewhere.
If you still have time, pm me. I think we might have the same deadlines and going through similar decisions.
Eos in earum id ut quam. Esse et eligendi vitae commodi in veniam. Eos laboriosam consequatur qui et assumenda rerum officiis. Nostrum aut sed quo eos. Sed fugit laboriosam autem sed.
Velit minus molestias deserunt dolorem laborum dignissimos architecto quaerat. Officiis aliquam saepe sapiente a fugiat cupiditate adipisci.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...