Is the PM Side of Corporate Banking a Path to Nowhere?
Hi All,
Currently in Canada, working in a top top corporate banking group as a senior analyst/junior associate (expected promo) and basically am stuck/pigeonholed on the PM side of the team, running annual reviews/high-risk shadowing, ancillary credit. I've been verbally told by management that it would be very difficult for me to transition to the RM side internally, which is where the team is actually doing the fun work like seeing clients, financial modelling, credit memos that are more interesting.
The question is, would you move to a different corporate banking group if it meant being on the origination side, but the consideration being that it's not a top group on the street (e.g. more participant in syndicates rather than MLA/JBR on all deals) and as a result less site visits/modelling/credit structuring?
I know I don't want to do annual reviews forever - I'm the kind of person who's driven by sales and pitching and want to be in that type of role, but if I'm going to a lesser bank where they mainly just participate in RCFs and don't do much structuring.. would it be a mistake to make that move to an "official" origination position instead of sticking it out where I am and hoping for the best that an opportunity comes up here and that they'll change their minds about letting me move into that type of role?
also side note - anyone know what comp looks like at junior levels for global BBs corporate banking in Canada?
Bump.
I think only TD and maybe RBC split the origination and PM roles.
At TD, most of the people that I have seen go from PM to origination are at the VP or above level after having been on the team for a while. So maybe, with more time you could make the switch? Or if you go to one of the banks that doesn’t split origination and PM you would get exposure to both.
However, as an associate you are doing most of the PM work and get exposure to origination over time. It is really at the VP level where you start spending most of your time on origination.
Thanks for the response.
Any chance I could PM you? Would be great to hear more about your experience and ask you a few questions when you’re free to chat.
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