Jump from CB to IB/PE

PNC
bandrews95

Go to company page PNC

bandrews95
Sep 2, 2020 10 Comments

Currently working in Commercial/Corporate Banking as an associate, looking to potentially make the jump to IB/PE, as an *associate. Has anyone made the jump? Was it difficult?
How does TC compare? (Chicago area)

WLB comparison? (currently work 45-50hrs per week, with a kid on the way, plenty of vacay we are encouraged to take)

If I stay where I am, I would move to a Sr. Associate in the next 1-2 years, with a 10-20% base increase, same bonus structure.

I have been told if I want a better increase to either: “leave and comeback” or “match this offer, please” any input on these strategies?

Current TC: 75k base (negotiable up to 89k in 21), 10-25k bonus

comments

Want to comment? LOG IN or SIGN UP
TOP 10 Comments
  • Investment Management Firm
    Football 🏀

    Investment Management Firm

    Football 🏀
    TC would likely be 50-100% hire (150-200k) but hours up maybe 10-20% (depending on firm)

    Haven’t seen it done though, entirely different skill set really
    Sep 2, 2020 1
    • Investment Bank / Finance
      zooooooop

      Investment Bank Finance

      zooooooop
      Hours would be up more like 30-50% IMO. Also the modeling, analysis, and document building would overlap pretty decently
      Sep 3, 2020
  • People don't usually move to IB as analyst, rather they do it as an associate. New associate TC would be somewhere around 100 base 100 bonus (or something like that) WLB is definitely different - expect to be working 80+ hours every week
    Sep 2, 2020 1
    • Investment Bank / Finance
      zooooooop

      Investment Bank Finance

      zooooooop
      Gonna be a much better base as an associate, probably like $250k all in first year
      Sep 3, 2020
  • It is not impossible, but unless you have a connection I think it will be a little hard. i think the transition will be easier if you are making the change within the bank, I have seen that happen before
    Sep 4, 2020 0
  • Investment Bank / Finance
    zooooooop

    Investment Bank Finance

    zooooooop
    Maybe easier within the same bank if they allow for internal moves like that. Smaller investment banks (ie boutiques) May be more open to you moving in if you can craft the right story because their hiring is less traditional. Hours will be worse (60-80/week) but better exits from there and much better comp
    Sep 3, 2020 0
  • Citibank / Finance
    BetterBid6

    Go to company page Citibank Finance

    BetterBid6
    I haven’t made the jump my self, but from what I’ve heard, you’re pretty spot on in your comp estimates. Doubtful you can make the jump as an associate however, may have to take a demotion to analyst
    Sep 3, 2020 0