I am in the offer stage from a lead design role at a regional bank similar to something like Huntington Bank if you're familiar with it. They're investing heavily into digital and growing out the UX team and related roles. I like the hiring manager and what everyone tells me around culture. Right now I work for a large ecomm company but I've always wanted to get into Fintech. But i saw myself working somewhere more like Plaid, credit karma, mint, things like that, not a bank necessarily. But one of the things this bank wants to do is take some of those best features from these companies and integrate natively in their own banking experiences which sounds really fun to me. I think it could be a good growth role as well. But given the current climate, I do feel a little bit skittish around banking. They had a record year last year but the recruiter was talking about headwinds this year and that the purely discretionary bonus may not be as big this year. They haven't put out an offer yet but just wanted the blind community insights and thoughts. It's likely the offer with base and a middle of the road bonus could still be a 15-20% increase from my current salary. So not nothing just trying to weigh the risk vs reward 🙂 TC - 170k #interview #finance
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This is a retail bank? All things being equal that's not desirable. Retail banking is a tight margin business compared to other types of banking (IB, broker dealer, etc). Working in a high margin business is always desirable because budgets are bigger and looser.
They have a retail arm but also do commercial, private, and investment banking. They are also in commercial lending, financial advising, etc. Over 40B in managed assets. So pretty diversified and well established, not your average little retail bank. I imagine some of those segments of the business are pretty high margin.
40B is pretty peanuts. They're probably not in the top 50 banks in the US by AUM. If you're doing work for IB then that's pretty cool, but if it's work for the retail business I think that's a pass for me. This is of course assuming you have a better offer. Everything I'm saying is "all things being equal".