Less Glamorous Exit Opps
For a lot of people, one of the major perks of banking is the lucrative exit opportunities. I know that IBD analysts get calls from recruiters and headhunters about jobs at PE / HF / Consulting positions. But from what I’ve heard, a lot of these jobs offer only moderately better hours (you’re still having dinner at the office most nights or traveling a lot – please correct me if I’m wrong).
I’m curious about the opportunities for those whom are willing to sacrifice the large salary hikes accompanying PE and HF offers in order to take a job with only a marginally greater salary but with great hours (8am-7pm or better… this might mean a financial job with a corporation – could be Coke, GE, anything…).
With this in mind, are there any other less glamorous industries that actively recruit from the 1st-year and 2nd-year IBD analyst pool? If so, what kinds? If not, how easy is it to land a job with more traditional (8-6pm) hours?
Thanks all.
going to corp dev will give you a 9-6 lifestyle.. you will however need to sacrifice compensation.
e.g. you will go from making 170k as a 2nd year analyst to making ~100k as a 1st year corp dev associate.
but the lifestyle is much, much better.
Well, if you work at a HF, aren't the hours usually much better ? Or is that entirely dependant on what kind of HF it is i.e. Event-driven, Long-short etc ?
Hours are generally better at HF regardless of strategy. Mine are much better.
so hours at HF are "usually" better than PE but with slightly less pay?
I see. So to reiterate my question, are 1st and 2nd year IBD analysts actively recruited from non-PE and non-HF firms? Interested in knowing what kinds of companies this less glamorous group might include (if this less glamorous pool even exists).
VPs/Client Managers can pull $200-400K working 60 hour work weeks. And the best part is you can continue to pitch capital markets transactions and M&A. Great place to be IF you don't want to commit to a pure i-banking lifestyle.
client managers = relationship managers. basically in CB, you can be a VP/D/SD/MD and still be a Relationship Manager. it is a field, not a designation.
i personally know a RM/SD in a BB who took home a $1.8MM bonus on his $380K base. Is probably in his late 30s. not bad huh?
Their hours are at least 80/wk
they dont pitch CM transactions. At points where the IB and CB are both dealing with the same client, the Relationship managers facilitate as a one point contact for the client.
CB aren't supposed to deal with capital markets at all by definition. Their business model is based on corporate credit.
Also, corporate bankers are the top choice in any firm for executive positions in management (such as EVP or CCOs); their definition of the work is the bank itself.
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