Corporate Finance at a Major Bank

This is the first interview I have for a full-time position after I graduate college this year. I have passed CFA Level 1, and major in econ. I was hoping to get involved in Asset Management, but I have heard that Corp. Finance is another great area to get into. The description of the position is below (sorry it is so long). My questions are: What is a general starting salary for a position like this? and, Would this be a good way to start my career? Are there good growth opportunities, if I eventually wanted to do asset management would this be good experience for that? “The Finance Analyst (FA) Program involves a two-year commitment to a specific finance function within one of the company’s sectors. During the two-year program, which commences every July, Analysts receive valuable work experience to help them achieve their career goals. Analysts work closely with finance management teams across numerous sectors and add value to the company through reliable and efficient transaction processing, accurate record keeping, development of financial auditing and controls, drafting of policies and procedures, strategic planning and analysis, and effective management of balance sheets and liquidity. Empowered by employees that share common professional attributes, Finance acts as a strategic partner across all business lines. The program begins with five weeks of group training in New York City on finance, accounting and computer training, before being placed into a specific finance group. The training is delivered by a combination of practitioners in the industry: university professors, finance professionals and resident experts in Markets & Banking, the Global Consumer Group, Alternative Investments, Global Wealth Management and the Corporate Center. The curriculum includes orientation and topics such as Financial Accounting, Finance, Balance Sheet Analysis, Strategy & Planning, Tax, Accounting Policies and technical training. The Finance Analyst program provides the unique perspective that comes with being cross-sector. After training, Analysts have the opportunity to join a finance team in any one of the company’s sectors, including Markets & Banking, the Global Consumer Group, Alternative Investments, Global Wealth Management and the Corporate Center. Upon successful completion of the two years, it is anticipated that Analysts who have excelled in the program will be invited to rotate within Finance, across various sectors, to help broaden their finance skills and knowledge of the organization. Included in this third year rotation are opportunities for potential international assignments. These opportunities may in turn allow for the possibility of promotion to the Management Associate level program and beyond. Success in the Analyst program will likely pave the road for a career at the company as a Finance professional.”

I’ve heard of a program like this at JP Morgan for recent college grad’s. I think pay was somewhere between $50-60k in NY (closer to $60k).

That is the big C’s program (thanks google!) I doesn’t sound like it is corporate finance in the way that it was probably used when telling you about the great opportunities (they were probably referring to investment banking). This sounds different than C’s investment banking program, which is also a two year program, but is not rotational. Base pay should be $60k + bonus +$10 signing bonus. My guess as to the bonus is probably somewhere in the $20k ballpark this past year…but that is strictly an uninformed guess.

Appreciated. do you think this would be a good position to go for?

L1, I’m doing the same program at a BB in Global Investment Management. It’s a good starting point because you learn a ton but in my opinion, it’s very limited in terms of exit opportunities. If you want to end up in Asset/Investment Management, this is a great program. My 2-year analyst program ends next june but I’m already making a switch to another bank on their derivatives desk. In terms of salary, FIAnalyst is spot on.

Hey guys, I really appreciate the feedback. this is a huge help.

This sound like a back office role.

It is back office. Do you think this would create opportunities in the future or would it lock me into that type of a role?

Usually there is a slim to none chance to go from BO to FO. But you might just be one of the chosen ones to break this jinx