Commercial Banking or Trade Support?
I’m graduating in June and I have two full time offers lined up both in HCOL as a fresh grad from non-target:
MM Credit Analyst:
Comps: Base $65K + Bonus (Friend who works there showed me it was $20K his first year) plus overtime of 1.5x after 40 hours
Pros:
-I could see my unique bilingual skillset being useful for career progression (MM bank is international where I speak the same language)
-work life balance
-Kind of FO and have opportunities to meet clients
Cons:
-Seems like upper management is usually from head office
-job seems boring
-2 days in person
BB Trade Support:
Comps: $80K + Bonus
Pros:
-its a bulge bracket with name recognition
-will be assisting a trader and sitting next to one trader, with networking, hustle, could possibly? become a trader/sales
-more interesting
-3 days in person
Cons:
-Its a MO/BO office role
-no guarantee of FO opportunity
I’m really torn between the two. I think I would enjoy being a sales person at a trading desk long term or even a trader more, but I’m not sure. My understanding of credit analysts is that they don’t exactly have any great “exit ops” either. During the interview process, the company talked a lot about how they need more local hires who are bilingual so long term I could see more opportunities there.
I also say in person is a pro for me being early in my career and want to establish long term relationships.
Ultimately, I don’t care about compensation now and more focused on making more in the long run in an interesting seat. I was wondering if anyone can speak knowledgeably about either or both of these jobs. Or even people have more pros and cons of either decision, I would appreciate that a lot.
This one is an interesting call. One thing you really need to clear up before accepting the trade support offer is whether or not FO progression is at all possible. Do not ask HR this as they will probably lie to you. Check LinkedIn and look at some of the traders that you will be working for. Did any of them come from a similar seat as you? If not then avoid like the plague. Either way I would lean towards to credit analyst position if I was you. I work in MO currently and it’s basically like having a criminal record on your resume. Unemployed>BO.
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