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Which job would you take?
A front-end job with a boutique investment bank or a back-end job at JP Morgan/GS?
One of the biggest mistakes I see students make incessantly is taking a back-end job at a bulge-bracket investment bank.
I remember one of my student's parents calling me up to tell me how wrong I was.
"How dare you advise my son to take an analyst role at a hedge fund ($10bn AUM) - which I have never heard of over a middle office role at Bank of America?"😡🤬
I mean common!!
Helping students get the right job in banking is what I do for breakfast, lunch and dinner everyday. (I have a 90% success rate)
The least you could do is word your sentence correctly. 😜
After a 15 mins phone call 📞, he was convinced.
He apologized and thanked me in the same sentence. 😲
His son has now moved to San Francisco on a $150k salary first year out of university.
Not bad ha?
Coming from University of Nottingham, he was willing to put in the effort to not only learn financial modelling and valuations but also follow our job strategy.
He was also making a few mistakes in our mock interviews which we ironed out for him.
The problem with working in the back-end is once you start off there and God forbid you garner a years experience - that's pretty much the end of a career.
I haven't seen anyone from the back-end move into front-office jobs.
Back end jobs are..
❌ Monotonous
❌ Repetitive
❌ Low paid
❌ Will get automated in 3 years time
Front end-jobs are...
✅ Intellectually stimulating
✅ Well Paid
✅ Client facing
✅ Affords and opportunity to work with extremely bright people
In two to three years time if candidates are willing to work hard in the front-end of banking, no matter how small the brand, eventually they can always join a bigger - more prestigious bank.
If you start at the back-end you will stay at the back-end.
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