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Retail banking experience doesn't translate to investment banking. If you want IB best bet is to go to a top MBA and do on-campus recruiting
120K as a relationship banker? That is very good salary. IB will give the same salary with terrible hours
Comp in true IB is more like $140k with a 50%-100% bonus to get an all in of $210-$280k (assuming you started out of college and are an analyst III or Associate I and depending on bucket). Corporate Banking (Lev Fin, Sponsors, Capital Markets) will get you closer to $130 base with 30-60% bonus depending on shop with slightly less exciting exit ops (harder to break into PE, more geared toward PC).
If you want to make the switch and have money to burn, go get a top MBA (see if JPM will pay for it). If you don’t wanna burn that much cash or don’t get accepted to a top MBA, start your CFA journey. CFA is not always directly related to CIB roles, but the cert speaks to your discipline and intellect. People in the industry understand it’s not easy to get and it will set you apart. Especially at the junior level.
I know first year analysts who started at 27 coming from marketing/media backgrounds so it’s not impossible.
The pressure in IB may be more intense and equally unrelenting. If you think the work is going to be more rewarding then go for it.
You make 120k as a relationship banker? You’re a killer
Treasury Associate or Consultant
It maybe better to try and leverage your experience in Retail and move up to Private Banking at Chase.
However, the will always be goals. Relationship Management / Sale, is hard. That is why it pays well.
What metro area do you work in?
New York
Investment Banking is BRUTAL. You could look at being a Premier Banker for Wells Fargo, their sales pressure isn’t like Chase, and you only need 6&63. That or go the FA route. But that’ll be a lot of pressure too
I am ready for the pressure. Upside in IB compared to retail banking is night and day
Im trying to get a job as a relationship banker, I just graduated college with a degree in finance with about 6mo experience in sales but getting selected for roles as such seems daunting.
Any changes you makes in obtaining new positions, will affect the pay you make being in the new position. I, too, understand what you mean. I was a Consumer Loan Manager, and was pressured to make a certain number of loans, or I won't get a day off as a reward. Which also meant I would've had to put on bad loans to inflate the numbers. I had higher ethics and integrity than my co workers, so I never did get the day off. But when a company-wide audit happened, only my dept. and a dept. elsewhere in the state were the only ones that did it right. All such dept's had to close because it was all so very few that couldn't sustain operations. As long as you are in any bank, finance co., or any place that can do loans, the pressure will be there. Even if it wasn't, they may have you on as commissions-only, so you would be paid nothing if you didn't push something on people no matter what. A fiduciary company does better when customers do well, so that might be an avenue you want to pursue.