MM Commercial Banking at BB or Big4 Accounting?
East coast uni student, already accepted big 4 accounting internship, but got a middle market commercial banking fellowship at a bulge bracket bank. Wondering about career path, exit opportunity, earning potential etc
curious about comp
Big4 internships 34, BB fellowship 26 w 2500 bonus so over six weeks is a little better. HCOL.
Depends what your financial situation is and your end goal is.
Financial situation: (Assuming you convert upon graduation) A full-time CB role is going to pay you a living wage; an audit/accounting role at big4 will pay you barely enough for food. If you can tough out the latter (or come from money) then I feel like you can evaluate the two on a level playing field.
End Goal: If you see yourself moving into corporate banking, direct lending, levfin, restructuring consulting, etc. then CB makes more sense. If you see yourself being an accounting controller/cpa in industry, staying in accounting (audit/tax/etc) at big4, or moving into an advisory group at big4, then the accounting role makes more sense.
So just depends on what exit opportunity you want, but earning potential is better in cb earlier?
Without a doubt the earning potential in the short-term is higher. With that being said, making it to Partner within a Big4 group pays significantly more than the ceiling for a CB role; however, most people don't spend their entire careers within CB or Big4 so that may not be worth taking into consideration.
I think it is more important to consider if you truly enjoy accounting-related work and what exit opportunities you are considering, because taking Big4 out of the gate begins to steer you into a career of accounting-focused work. Nothing wrong with that! I just hope you enjoy accounting if that is the choice you ultimately make.
If it’s JPM MMSBI? Definitely take that over accounting. The comp is way better.
It is. Any other reason you favor JPM MMBSI over both big4 or other BB mid market CB?
JPM is the top dog in CB
Do you know what total comp progression is at JPM MMBSI and what the exit ops are like
Bump
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