Career in banking

Citibank / Finance
limitl3ss

Go to company page Citibank Finance

PRE
Wells Fargo, JPMorgan Chase & Co.
limitl3ss
Feb 8, 2019 22 Comments

Hi guys!

I work for a major bank and have a decent career in banking! I work with high net worth individuals who are still on the retail side (not private bank) however as much as I love my job, I feel like it is not right for me.

I excel in my position, and exceed all goals, however I find my self wanting to get out of retail banking. Any advice? I’d appreciate all feedback.

My current position has me dealing with high net worth families with over 200k liquid. Average client is about 1.5m liquid. I deal with their wealth management, depository relationships, and lending. It’s all Relationship management.

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TOP 22 Comments
  • Google
    youngturd

    Go to company page Google

    youngturd
    You told us everything except the important stuff.

    Why do you feel the job isn't right for you?

    Where do you want your career to take you?

    First piece of advice: work on concise and clear communication.
    Feb 8, 2019 4
    • Citibank / Finance
      limitl3ss

      Go to company page Citibank Finance

      PRE
      Wells Fargo, JPMorgan Chase & Co.
      limitl3ss
      OP
      I was approached by a “fintech” bank (really just an online only bank) and their offer was 50k base, some commission and stock in the company.

      I just didn’t feel comfortable taking that with no guarantee of the company doing well.

      Comparatively speaking, I have a pretty high base for most people in banking (in retail) so it’s hard for me to transition out. I do think I need to move into fintech though as that definitely is the future.
      Feb 8, 2019
    • Affirm
      avfi

      Go to company page Affirm

      avfi
      Come to Affirm. It’s not boring.
      Mar 1, 2019
  • What do you enjoy doing and what's your tc?
    Feb 8, 2019 4
    • Citibank / Finance
      limitl3ss

      Go to company page Citibank Finance

      PRE
      Wells Fargo, JPMorgan Chase & Co.
      limitl3ss
      OP
      TC IS 125-165 depending on performance.

      I am interested in commercial banking, or IB/PE. I am good at making deals happen, I’m just tired of referent them to the “big guys” and having them take credit
      Feb 8, 2019
    • Avant / Product
      Fu11_Tilt

      Go to company page Avant Product

      Fu11_Tilt
      If you want PE, you have to go back to get an MBA at an M7 school first and then do IB for a couple years
      Feb 9, 2019
  • IBM
    👅👅✊🏼✊🏼👅

    Go to company page IBM

    👅👅✊🏼✊🏼👅
    TC or GTFO
    Feb 8, 2019 1
  • Hey citibank, thanks for sharing but looks like you yourself are pretty confused about what you want, bro. You are in wealth mgmt right now and want to get into Commercial or i banking ? Then why do you need or are interested in tech ? Trust me Ive worked around the block to know our dear commercial and i bankers shun tech like a vampire shuns sunlight. Most of the big banks’ bankers’ jobs are bland, involve a lot of paperwork/documentation and excel plugin worksheets. To be very honest Ive heard many of them talk about how easily their jobs can be automated if not for the “personal touch” they need with their clients on their jobs. Now coming back to your case, I would suggest do your research as to how a fintech or a finance product based company is structured, the teams in there and their daily job duties. There is a huge diff between the jobs in a typical bank and a tech related firm. Circling back to your point of what ‘kind ‘ of tech jobs you can look at, given you have absolutely no tech background, have you ever considered sales types of roles in fintech firms ? Also management consulting for digital venture firms for the big three is pretty neat too and doesn’t require heavy tech skills. Now you should be looking at consult roles in these firms. Meanwhile, you’ll need to sit your ass down and learn coding on your own bro. No other way around this. Github, kaggle do whatever you can to get that skill. Know that tech is much more hands on than the usual bs-ing we see in banking. Again, the compensation. The C word. Well let me break it to you buddy. There is a reason people still kill each other gladiator style for banking (and also wealth mgmt analyst/associate) roles. The big moolah in there. There is always a pay cut when you try to move to tech, but the potential is much better. Better wlb, better work and working conditions and most importantly, better people. Now the alternative benefit would be to look for the rsu type compensation for tech firms. Their potential is great compared to your quarterly performance based bonuses. Also, there are tonnes of job listings in google and amazon, who are looking for a banking background (on the finance side). Sit down and research. You sound like you haven’t looked around at all. But its good you are asking around. I know how miserable these jobs can be and hope this info helps you make a better decision. Good luck !
    Feb 8, 2019 1
    • Citibank / Finance
      limitl3ss

      Go to company page Citibank Finance

      PRE
      Wells Fargo, JPMorgan Chase & Co.
      limitl3ss
      OP
      Thanks bro I appreciate this info! Ya I haven’t looked around a lot because I am extremely confused! I know
      Some coding on my own but have no certification because I never pursued it.

      I’m doing very well in sales and exceeding all of my goals so I know consulting and sales is something I would be good at.

      I also like commercial and IB because they essentially still have sales
      And it’s all about using your brain to make the deals work and make sense.

      Now if I can get into a consulting or sales side position in fintech I’d really be open to that
      Feb 8, 2019
  • Citibank / Finance
    limitl3ss

    Go to company page Citibank Finance

    PRE
    Wells Fargo, JPMorgan Chase & Co.
    limitl3ss
    OP
    TC is about 85k base, with commissions of about 10-20k per quarter

    So I clear about 125-165k a year

    I am completing my undergrad in finance and am trying to figure out my passion. I love finance, and I love tech. I don’t have any tech training but I will go get it if that’s where I ultimately see my self headed.
    Feb 8, 2019 1