Got two job offers, both are for Credit Analyst. One is a smaller bank, $60b in assets, another from a large bank (SBA) with over 1.5 trillion . They pay the same, the smaller is bonused, the larger obviously has its name, very thorough training and more volume. The smaller bank has a close nit team where i would get lots of exposure and probably make more in bonuses.
Money isn't a huge negotiator, I'm more worried about building my career in considering my resume for future growth and an MBA. My current boss, at a boutique non bank group, immediately said to go big bank. Looking for some advice on what you folks may think the pros/cons of the two are??
Thanks,
What groups in either bank would you be in?
They're both SBA Credit Analyst roles. I've been working as an assistant underwriter for a small non bank lender for about a year part time and am making a transition full time. Smaller bank focuses more on 504 and CDC lending, larger bank mostly all 7a and is one of the top lenders in the program
In SBA lending, you typically won't be working with large loan facilities, so the size of the bank doesn't really matter.
Having saving said that, for this type of lending, a $60 billion bank isn't really considered "small." In that space you'll be competing against large, regional, and perhaps mostly community banks.
I'd choose based on which group you liked more, or if you thought one had a higher career progression, etc...
Thanks for the reply. You're right, they aren't small but they're a regional bank I suppose, and I'm comparing them to a bank like JPM, WF, Citi. The larger is primarily 7a and the smaller primarily 504 and there would be exposure to lending partners. special partners, etc as opposed to stricly 7a lending at the larger
I really got along well with the smaller, and I think I would like the smaller office. the biggest hesitation is the potential of better exit opportunities from a larger institution
The key here is how truely involved the small bank is in the Sba program. Many both large and small banks only do Sba lending as a "hobby" and not something they really focus on so the loan volume and range of deals would be a lot less than at a real player in the space. If the small bank is a true player in the program than it would be likely better overall than the large bank position for the reasons you mentioned.
Thanks for the reply. The larger bank like I mentioned above is primarily 7a loans and the regional bank is more locally focused and depends primarily on CDC 504 lending. So a little different, but I think the standout potential for growth and impact would be more available at the regional, which just based on the interviews I am leaning toward.
The name brand and formal training program behind a large top lender is enticing though, and is really the only hang up I have
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