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Ask for it, the worst they can say is no. What's the geography? Do you have other offers?
NYC. No other offers but have an interview with a F500 for a FLDP.
Is there one you want to do more than another? Why?
I'm asking because I'm in the same dilemma (have to choose from an audit at Big 4 vs. commercial credit at BB vs. FLDP at GE) internship and don't really know what I want to do.
I would ask for more if you're in an expensive city. I'm entering commercial banking at a MM and took an offer quite a bit lower, but will be in a much cheaper city than NYC. I asked for more just to see if there was any wiggle room (there wasn't).
60k base + 5k signing bonus is fairly standard for BB credit analyst from what I've heard.
It is.
You can't really negotiate these, I would try to see if you can get a higher sign on but doubt the base will change as all of these BB programs are very standard. Unless you have another offer you are excited about and willing to take, I would not do it.
If you wan't to do finance definitely do not go with Big 4 Accounting.
I would pick credit at a BB vs. GE Capital if you are interested in corp banking, commercial banking, IBD, etc. Credit is not really discussed a lot on these forums but the pay, culture, and exit opps are much better than people here give credit for.
I would be happy to answer some more of your questions via pm.
I agree about that credit is very underrated here. What exit opps have you seen? A Silver Banana for you.
I have seen people make moves into different groups within bank or same type of roles at other large banks...roles that are a part of credit umbrella: corporate banking, risk type roles, hedging , capital alloc/pricing type roles, compliance/credit review/portfolio management). Other roles: investment banking (BB/mm/boutique)...bb is definitely a lot easier if say you are moving from TMT or energy on credit side to same group at BB IBD. Also have seen people leave to do equity research, corp. fin, top MBA, or leave for very significant pay bump at smaller regional banks.
The only thing credit does not place super well into is really the PE/HF/VC world but you can still get into those roles after making a move into iBD first it will just take longer. This is a great site and the content is really top notch but one thing I have encountered are people looking down on all jobs outside of IBD, m/b/b, and pe/hf sure there are a lot of top 1% people here but pretending that other finance jobs which pay 70k out of school are not good when in fact most people in the world would kill for such a job is a joke. Its fine to say something along the lines of "my passion is with IBD, these other jobs do not appeal to me" but to imply that other jobs are some how so subpar and unworthy...well those people need a reality check. With that said obviously top IBD groups are going to have a higher concentration of very intelligent people from top schools in comparison to other industries but that is not to say smart people are not found in other places.
Firstly, let me start by saying thank you for that awesome comment. Yes, 60k+ straight out of school is really good for most.
Secondly, hows the org structure for CB? what do most entry guys do after 2-3 yrs ? (Or rather what have you seen?).
im really interested in CB since it revolves around the MM, but I have been under the impression that theres not much out there in terms of exits.
I personally dont like plannin a career based on exit opps, seems a little ungrateful at times, but being in a business undergrad, esp a target one, wires you that way.
Lastly, have you seen people go to business ownership after a stint in CB? since a lot of the role deals with working closely with small to midsize businesses.
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