Operations at a BB firm
I was just offered a summer internship in operations at a large BB firm. I’ve heard bad things about operations, and the salary if I get the operations analyst job afterwards seems a bit low, so I was wondering what the career trajectory and total pay look like, and how easy it is to move to different divisions. I go to a state school and I’d like to avoid working 80+ hours a week so I didn’t apply to IB roles. What other divisions pay well while also maintaining a decent work/life balance? Any advice is much appreciated!
Which bb and what type of ops
GS in global markets
I was at GS and know multiple people who started in Ops and did internal mobility to a front office trading role on the desk they covered after 1-2 years. Also know someone who lateraled to a sales trader role at a different bank. Not saying it’s easy or likely, but definitely possible. You have to be good and network well to make it happen. As a second caveat, these people were in the NY office. If you're in SLC or something, it would be significantly harder to make that kind of move. Outside of that, I don’t know what other desirable exit opps there would be, and from what I was told the Ops job itself is pretty brutal + underpaid and not a place you want to stay long term.
Corporate banking
I’ve heard that corporate banking pays the least is that true
In terms of front office roles I believe wealth management pays the lowest. At most firms corporate banking has the same base salary as IB. Corporate banking bonuses are smaller.
Nothing material to add except that my group recently hired someone with an operations background and it was a huge mistake. Absolutely zero ability to problem solve because they are so used to just blindly doing X,Y,Z.
Lol great to hear. I actually started studying supply chains and ops because I’m good at problem solving and I like it so hopefully this reputation doesn’t hold me back
Yah supply chain ops could be interesting. In this particular example the persons background is in something very mundane where if X happened you do Y. No analytical skill set. I’m sure there are ops roles that are more interesting but I would be careful.
A lot of the top traders came from ops. Not all are idiots. Your experience is just anecdotal.
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