Seeking Advice: First job in finance.
Hello all,
I am currently deciding between two offers, one from a top 50 bank (50B in total loan assets) and the other from a much much smaller bank (about 300M loan assets).
Top 50 Bank: Credit support position, 60K, no formal credit training (its not a credit analyst position), promises to expose me to financial spreading, working closely with PM's and the credit group (its a small team), structured finance team.
Smaller bank: Credit Analyst / Underwriter position, formal credit training, 62.5K + sign on bonus, exposure to CRE, C&I, SBA loans, small team, exposure to VP and proposals to credit committee.
I am mostly concerned about my future prospects if I choose the smaller bank, they are not well known, and my aim in the future is to break into a larger bank as a credit analyst, the top 50 bank is making promises but I know how those go. Does it make sense to go with the larger bank and get the formal credit training after 1 year 1.5 years? Or go with the smaller and get crazy exposure?
I appreciate any and every response. Thank you guys, love WSO so much invaluable knowledge here.
Did you get the sense how fast you would be able to climb the ranks at each bank?
Hey, thanks for the response!
Top 50 Bank (1.5 - 2 years) the support position is to offload work from the PM's as well as ad-hoc work for the credit teams. This is work they dont want to do and I have the skill sets they need to make their lives easier, leaving me thinking that they won't want to let me leave this position if I am valuable to them. So im thinking 1.5 - 2 years or I will have to leave the group.
Small bank: They love me, one analyst has been there 1.5 years and is PM, close relationship with HR and VP of group. Im thinking 1.5 - 2 years to become PM as well if I work hard and learn.
Just concerned about moving up to a larger bank after accepting smaller bank offer in terms of optics.
Thanks!
Yeah, I completely get your concern. but I will say being at a bank that you like and likes you can be much more impactful on ones career than purely size of the bank. And if you can build out a book or business in a new sector for a bank you can be much more impactful/something you can speak to than being another body in a large bank.
Right, thats exactly what I was thinking. I can learn more about the business entirely than just being a cog that sends wires and does ad-hoc credit projects. Thanks a ton for this perspective PeRmAnEnTiNtErN, appreciate it!!
Going to accept the offer and work my butt off!
I mean if you are at a smaller bank you might be a few steps away from a bigger bank, but overall if you want something I think with dedication you should be able to get anywhere. (I know this sounds motivationally)
I just finished a phone screening with a recruiter for a major real estate player here in the states. It's a capital markets large debt acquisitions analyst role. The recruiter said they liked my resume and my drive, and is going to (hopefully) forward my resume to the hiring manager at the firm for an in person interview (gonna have to study my butt off). I honestly wasn't expecting anything from this interview, but it went extremely well.
The way im taking this is that I seem to be rushing to get into a role, and that if I'm patient I can land something big, with exposure and a strong brand name. I just need to be patient. Also, I am not aware of my true value (not that I'm worth a million bucks or anything, but more like my desire to work hard and continually learn).
So I'm just going to be patient here and wait for my home run to come in, no need to rush things.
Thank you guys as always!! If you guys have any advice please don't hesitate!!
Congrats!
Hey thanks!!
Will update this thread when I get an offer!
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