Corporate Banking?

I searched the forum and didn't see any recent info on Corporate Banking.

Anyone work in CIB at a BB? From what I gather comp is below on the bonuses but work/life is significantly better then IB. However, exit opps are significantly lower.

Anyone have any updated opinions / thoughts? specifically at the associate level.

thanks

 

Yes sadly Corp/Commercial banking doesnt have a thread here. From what I know, good RM's (relationship managers) in CB can make 6 figures pretty easily. Especially as you move up you can get into $200k+ and even further. Bonus plays a large part in this. Work/Life balance is usually great, but it really depends on the company culture. At my bank (top 10) work hours are usually something like 45-55 hours/week (excluding networking and events) depending on your deal flow.

 

I just want to clarify that there is a distinction between Commercial vs. Corporate (though some banks treat them similarly, true corporate should be in the Investment Bank). Corporate Banking (under the CIB umbrella) is in a different pay-scale from Commercial Banking.

As an analyst in a true CIB role, you should easily clear 6 figures as a first year analyst. Also, hours can easily be in the 60-70 range.

 

As an analyst in a CIB role in a MM firm, I can confirm. Hours are significantly better than my previous role in a small boutique IBD but I am worried that exit opps aren't in my favor so I am also looking to lateral back to IBD soon.

Contra omnes dissident
 

As to the comment above, Corp/Commercial banking are very different. Primarily in prestige/pay/exit opps, however, the work is very similar. This is due to Commercial being more relationship driven and Corporate requiring more financial analysis (since Commercial primarily deals with small private clients and Corporate often deals with large public clients).

I myself work in Corporate, and have seen numerous quality exits. However, all of them have been credit related. For ex, Mezzanine, LevFin, Financial Sponsors, Direct Lending, FI trading desk, Credit Research at an institutional asset management shop, even a MM PE shop (although this is very rare). Laterals within the bank to IB are also quite common (although your work experience is often discounted when this occurs).

Pay and hours worked are not that far off from IB if you are at an FI that has the CB and IB divisions under the same umbrella. If they are separate, then you are often paid considerably less and work considerably less.

Long story short, try to get in CB at a bank where it is under the same umbrella as IB (Citi for example), and you will be fine. Pay will be good, hours will be decent, and exits will be decent.

Hope that helps!

There is more than one way to get there. I'd rather have 30 chapters than 3000 pages.
 

Citi, BNP, DB, BMO, (RBC sort of at the VP level and up), Scotiabank, JP! There is a lot more! Simple google searches will help you here.

As to your DB comment, DB is no longer a BB ;)

Jokes aside, if you are offered Corp at DB vs Commercial somewhere else, take Corp at DB.

There is more than one way to get there. I'd rather have 30 chapters than 3000 pages.
 

I'm also interested in corporate banking and I've had trouble finding info as well. One thing I've been struggling with is finding the exact title for this role at certain firms since some do not use the exact phrase "corporate banking" and may have it as something like "loan syndication" or something similar. That being said, can anyone comment on some of the players in the industry and what the specific name of the role is by firm? Also does anyone have any good resources about corporate banking interview questions?

I’m a fun guy. Obviously I love the game of basketball. I mean there’s more questions you have to ask me in order for me to tell you about myself. I'm not just gonna give you a whole spill... I mean, I don't even know where you're sitting at
 
Most Helpful

Where CB and IB are under same umbrella, base salary can be the same with lower bonus in CB, all depends how the bank structures it.

No corporate or commercial banking job is really the same, structures, hours, comp vary widely across banks. In some banks the hours while better than IB are by no means cushy (i.e. 60-70 hours and pay is a modest discount to IB) whereas in other shops could be closer to 50 hours and analysts are making 80-100k between A1-A3.

Good experience comes when your bank is actively leading transactions and structured similar to IBD (A1-3/As1-3)

In a good group corporate banking analysts/associates will develop solid skills in modeling, financial analysis, running a process, and structuring deals.

There are also two sides to corporate banking:supporting coverage bankers in generating business (via pitch books and marketing materials) or credit underwriting. Depending on the bank, corporate banking can either run the relationship and utilize investment bankers as product partners, can serve as a product partner to IB, or be the only coverage arm if the bank does not have a built IBD and just does loan syndications/gets co-manager roles in capital markets transactions.

As far as exits go, the broadest tend to be at the junior banker level. Its not uncommon for high performing analysts to move to roles in investment banking, capital markets, syndications, etc. The exposure they gain to functioning as part of a structured process, analytical skills, and attention to detail are very applicable and transferrable. Once you hit the VP level, exits tend to narrow (same thing at other banks, debt fund, work for a client, corporate finance in related roles)

Pay varies widely as well, I know people with 10 years of work experience making 150k all in, 6 years making 180k, 10 years making 250k, 4 years making 80k, 3 years 120k. All depends on the bank you work at and its structure.

 

Hello! Could you please provide some advice on a career decision? I recently got two offers. One for Corporate Banking (generalist) at a BB in NYC, and the other for Investment Banking at a MM (in a decent group/industry) in the Midwest. I networked hard at both firms. Struggling to make a decision because I like the band name, location, and the work-life balance of the BB job, but I also like the more interesting work, the higher pay, and a possibly more relaxed culture at the MM bank. No interest in jumping to PE or pursuing an MBA in the future. Any suggestions on how to navigate through this situation? Thanks for your inputs in advance!

 

It is possible but relatively rare. The majority of analyst hires will be done through the summer analyst process, and most FT analysts will come from the intern pool. As an off-cycle hire, you would be reliant on a FT analyst leaving and creating an opening.

Keep you eyes open for job postings, but it probably makes sense to be targeted in your search and network with specific banks/groups you have an interest in. See if you have any alumni out there.

 

I would like to see a Corporate Banking thread on here as well.

I agree that titles can be confusing on CB. When I look on LinkedIn I don't have much of an idea which jobs are considered "Associate I" or "Associate II" for example. Does anyone have insight into which jobs titles I could search for if I am looking for an Associate role in Corporate Banking?

 

Yeah, I know it is cumbersome to put together.. but if anyone is willing to give it the ol' college try, it would be very helpful to have an update list of different positions in Corporate and Commercial, at varying bank sizes, and the associated pay/work hours of each.

 

Bonuses are smaller than IB but salary is about the same. Corporate banking's work/life balance is sustainable so if it is something you enjoy doing, you could make a decent career out of it and live a happy life.

As for ex ops, traditional PE firms usually prefer IB analysts as they have more modeling experience typically than a CB analyst. While CB to traditional PE is few and far between, its not unheard of. Most people who do exit from CB traditionally go to credit funds or transfer to other credit related jobs. Haven't really heard of associates leaving but also haven't been around here that long.

Personally, I enjoy the pay and the work/life balance and I could see myself here for quite a while

 

Edarti, thanks for the input.

Would you care to speculate on average hours worked and average comp for banks of varying sizes (I am assuming the larger banks require more hours and more pay, but maybe this isn't case). Also, do you know what type of role in a corporate bank would be a good fit for someone with 5 years of credit underwriting experience at a small community bank?

Much appreciated,

 

Ex recusandae rem aut qui saepe fugit. Similique sunt nostrum dolores distinctio dolor animi necessitatibus. Quo corporis et sint blanditiis voluptate. Eius iure est quo. Incidunt repellat rerum quo eveniet aut ut enim non.

Quas fuga dolores perspiciatis voluptatem impedit libero. Inventore sit eum et rem rerum et. Repellendus numquam sapiente aspernatur qui cupiditate. Aut dolorem voluptatem magnam incidunt. Pariatur nesciunt tempora enim consequatur itaque. Sunt est delectus cupiditate ratione sit velit.

Velit architecto est deleniti quibusdam. Animi voluptatem et ratione consequuntur eligendi dignissimos. Cumque labore assumenda facere ducimus perspiciatis. Quo ab alias asperiores exercitationem a reprehenderit non magni. Sed placeat laudantium vitae.

Architecto ipsum ut non aperiam natus dolores iure. Repudiandae et numquam mollitia sapiente enim autem quo. Reiciendis ipsam eos inventore sunt. Ex sint est non eveniet similique architecto rem.

 

Et animi ut qui aut. Eligendi rerum est aspernatur et earum nisi.

Nihil debitis dolorum minus ex quis. Ipsum corrupti vel provident. Autem magni ea officia iure autem sed et. Molestiae officia autem vel numquam. Quia perspiciatis alias iusto. Quia aut eius officiis consequuntur. Possimus doloremque odio non et vitae illo.

Saepe sit nihil ab et ipsa. Aut quod voluptatum explicabo illum laudantium. Qui deleniti ut accusamus totam minus. Eius aut quis quam dolor maxime optio est.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”