I’ve been made an offer by Goldman Sachs in compliance. I have an internship in Trade Clearing and Execution for a large custody bank in NYC (i.e. Am I deluding myself and if so why, and what are your thoughts? Is a market risk background a disadvantage when applying to b-school, even as a learning experience? Hi Brian, I am a computer science student in a target school. There also seems to be a large amount of modeling, analysis and presentation work involved which could help futher an individual’s case. I have worked 5 years at the Big 4 (Audit – but in the Asset Management space – hedge funds, private equity funds, investment advisors etc.). I am now a final year student in HK and I am struggling to choose between offers, Transaction Service in Big4 ac firm and Operations Analyst in Top BB. In essence the back office people get very little to no respect at all. Most frequently closer to 5pc than 10! I have always wanted to join mid market front-end IB (KPMG, Deloitte Duff & Phelps etc) . samｅ topis diѕcussed in this article? While there is some innovation, overall you will not be treated well in IT. The pay is very similar to that of a back office job but the hours and exposure is much better. I would stay there for awhile and see what develops…. Thanks! I’m sure you’d agree, right? Nothing personal, but this is a business and the focus is on supporting customers – unfortunately I would do nothing but answer emails for 12 hours per day if I let everyone ask detailed questions. 1. If there is a financial crisis or things like COVID happen, will BB lay off BO people first? Should I go back to BS sooner or should I try to navigate my way over to the front office in these next two years? Spend 6 months looking for a role elsewhere and if that doesn’t work apply to b-school. There’s nothing wrong with back office support staff. Any insight/suggestions/tips would help. i am thinking in the long range, what can my salary be a few years after starting or even later, say after 10 years on the job. Any good exit opportunities for internal auditors after a couple years too? And accepting the BO offer doesn’t mean you will kill your future in IB. I dont want to be in operations but nothing else has been happening. Hi Brian, very interesting piece, thanks! Have basics of valuation/financial modelling before working in an IB. Internship is 5 month of length that could be extended to fulfill my one year OPT period. what I found funny is that NONE of my friend bankers pursue the CFA. I don’t know, law experience is usually not perceived as “back office.” The objections usually tend to be around do you know finance, can you do the math, etc. While Thomson Reuters has stronger brand recognition than either the hedge fund or M&A firm, I am scared to take a role that might be seen as back office. Yes, and the first people they enquire about this is “back office”. It really depends on you – hard for me to comment cause I don’t know how you perform and what the structure of your team is like. I recently completed a masters in Finance from a top UK Uni and have been offered a place in Market Risk. Was wondering which is a wiser career path to take. Hi Phoebe, thanks for your question. Mache jetzt den nächsten Schritt in deiner Karriere, mit Jobs auf Monster. I’d say front but I’m actually not quite sure. For equity trading it might be better to do middle-office trade settlement. I could really relate to the articles on being an IB analyst (endless revisions from clients, associates and MDs on models, powerpoint presentations and legal documents, many times of which the final output is totally disregarded), although the pace here is much more slowly paced relative to your experiences considering the small and largely underdeveloped market here. 3. I worked for an Bulge Bracket bank in an quant/analytic positions where our main role is to develop financial models to price complex securities. The usual path is to complete a Master’s or MBA program in one of those countries. Unternehmen suchen jetzt Kandidaten für Back Office Jobs in Wien. Instead I’m in a new outside new York office and not getting a ton of exposure. this is a cool website with tons of advice. Also, what about an internship at a top Corporate law firm? I recently got an offer for a Product Development Analyst position in Prime Brokerage at a BB Ibank. It’s easier because internships are for testing out what you like at a bank rather than committing to something for years. It would be great if someone can share their thoughts, thanks! I successfully made the transition between back office work to front office work, albeit my experience was a little bit different than most. Exit Opportunities – are they really that grim as you portray them to be? Delaying my graduation would be well worth it for me not to end up in audit. let us say it counts completely to backoffice and hours are good, near to 9-17h. You should take a look at the resume templates on the site under “Recruiting” at the top – definitely emphasize the VC one and pitch everything you worked on as a potential deal / transaction, the commercial banking internship doesn’t matter as much. Should I just sit at home and just study for my CFA maybe?? Hi, I am currently performing an internship in the back-office of a major pension funds administrator (one of the world’s 10 biggest ones). Hi there. Do you know anything about this program and ability to leverage into IB full time offer? I have been having no luck getting interviews or even internships. You may also want to explore tech companies too because your skills may also be valued there and pay is also competitive. (thought I should add that I only left Front office due to redundencys x2!). 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