Low Tier IB Offer vs MM Corporate Banking Offer
I have offers from TD Securities investment banking and BMO Capital Markets corporate banking and would like some advice on which would yield a better outcome all considered?
I know TD will have better exit ops for PE and will pay a lot more (~130k), however, I don't know if I can handle the investment banking hours and know that I will be pretty miserable during those two years.
BMO CB pays around 85k for analysts total comp, and the hours should be around 9-6pm.
If my goal is to go into corporate strategy after a few years, and not necessarily do PE, would I be crazy to take BMO corporate banking? I am also fine with the BMO salary, given that 85k for a college grad is pretty good in the south.
And even if I want to do PE, I don't know if TD Securities is good enough to land any decent PE shops in the energy sector since it's in the southern office.
As a recommendation: I would make the city you referenced in your post to just "the south" since you never know who may come across the post given the details you have mentioned.
Given my experience, I am a bit biased towards IB, but if you want a role that is more balanced between work and personal life, the MM Corporate Banking role seems solid for the first post-grad role.
As for your concern about the lower-tier IB firm, you could always lateral to a different firm as the rule of thumb for IB recruiting: it is always much harder to break in than to move around (also true for PE as well).
If I stay at TD securities, do you think that I can still break into PE? What do you think my exit ops would be like there?
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