FT Analyst at MM IB vs Corporate Banking

Trying to decide between a FT IB Analyst (generalist) role at a small MM boutique or an energy corporate banking role at WF. Both in Texas. 
 

Boutique would pay $50k salary + up to a 100% bonus making total potential salary $100k  

Haven't received the official offer letter for the CB role although based on data out there the total salary would be $75k + 20-40% bonus.

Not sure what the hours would look like for the IB role but assuming 75-100 hr work weeks the salary seems kind of low. Whereas the corporate banking role would likely be 45-60.

Any insight would be helpful!

Comments (6)

Nov 29, 2021 - 10:15pm

Corporate banking in this situation. No knock on boutiques, but if they're only paying 50k salary in 2021 they must suck. I saw plenty of boutiques that paid 70-75k base when 85k was market which is still respectable but 50 is crazy. You'll find a way to break in to IB from CB if that's what you really want don't worry

Array

  • 1
Nov 29, 2021 - 11:02pm

Tend to agree with the post above. Usually people recommend IB if your goal is IB but the comp is exceptionally low for the hours you are putting in. You will make the same and maybe even make more at WF with half the hours.

CB -> IB is also not an uncommon jump. Plus with all the people lateraling out of Houston energy IB, you will no doubt have a chance to apply and interview for roles. You just have to take it

Nov 30, 2021 - 12:28pm

I'll also add that my corporate/commercial bank is having retention issues with juniors specifically because more analysts are leaving for IB roles than they have in the past

Array

Nov 29, 2021 - 11:08pm

Whatever offer you take, do not have it be based on how much you'll make next year or the year after. Think about what doors that job will open and what your long term plans are

  • VP in IB - CB
Nov 30, 2021 - 1:46pm

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