If my ultimate goal is to get into Portfolio Management or Investment Banking, is it a really bad idea to start off in Commercial Banking? Basically I need to figure out what to do right now… Currently I have a job with the federal government (Canadian) but I have been offered an entry level job as a Commercial Banking Associate. Would it be wiser to stay in the government for now where the pay is a lot better and wait until I can get an entry level position in the fields I mentioned or will starting off in commercial banking provide me with opportunities later on to move into those fields. The job I have right now is more accounting/budgeting than actual finance and almost all the “finance” jobs in the gov are structured that way. Any advice would be greatly appreciated
I guess I should mentioned that I’m graduating this month with a finance degree and I passed level 1 CFA and will be writing level 2 in June.
Mind sharing what bank that would be?
It’s one of the big 5
BTW: I’d be very surprised if your Government job pay is alot better than what you’d be getting as a commercial banking associate.
I don’t think its a really bad idea but just don’t expect it to help you out all that much. It won’t pay great either.
The commercial banking gig should count as acceptable work experience for the charter so that’s at least a step in the right direction. I think it will be what you make of it. If you can really excel at it then it may open doors to other things.
One of my University profs would always lecture us on how you don’t want to start out in Commercial banking so I just wanted to make sure that down the road if I were applying to Investment Banking they wouldn’t frown on me since I worked in Commercial… that’s basically what I want to know. Thanks for the replies so far.
I think you should stick with the government job
you should probably figure out if you want to be in portfolio management or investment banking. if you want to do the latter, go to business school. in which case, you should figure out which position (govt or commercial banking) would let you stand out, give you the most responsibility, give you the chance to have the greatest impact, etc.
Jesus, what exactly is commercial banking to you guys? Like, retail banking? I came accros some Commercial Banking opps in my Bank, as Associate ni fact, and the requirements are higher than IB analysts.
Alayle Wrote: ------------------------------------------------------- > Jesus, what exactly is commercial banking to you > guys? Like, retail banking? > > I came accros some Commercial Banking opps in my > Bank, as Associate ni fact, and the requirements > are higher than IB analysts. I was gonna ask the same question.
If you like credit, sure. You will end up managing book of loans either way.
What level commercial banking (what size deals)? Small business, mid-market, debt capital markets? Larger type deals Should be good experience for M&A type IB work, but maybe not port mgmt or the institutional investing side of IB. you in ottawa w the feds?
if it’s more small business loans then not good experience for what you want — the financials you would look at and the analysis you would need are far less. but for big deals it is a very detailed fin’l analysis.
Is the job in Toronto floor_filler? The salary part surprises me alot
Alayle Wrote: ------------------------------------------------------- > BTW: I’d be very surprised if your Government job > pay is alot better than what you’d be getting as a > commercial banking associate. Federal Goverment jobs tend to pay very well relative to entry level accounting and finance jobs, particularly when considering the hours and working condtions
i know dudes that did commersh then b school, u may need MBA though to make that final tranny
daj224 Wrote: ------------------------------------------------------- > i know dudes that did commersh then b school, u > may need MBA though to make that final tranny I thought you needed a doctorate in comestic surgery to make trannys
SeanC Wrote: ------------------------------------------------------- > daj224 Wrote: > -------------------------------------------------- > ----- > > i know dudes that did commersh then b school, > u > > may need MBA though to make that final tranny > > > I thought you needed a doctorate in comestic > surgery to make trannys cosmetic hot, MNT went for a double