I have only worked at the same bank my whole career. Wondering what else is out there. Has anyone here moved around from bank to bank? What differentiates your current firm from your old one in terms of culture and compensation?

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I worked for my previous bank for 4 years and recently up-tiered.
My points to move were: better compensation and new challenge. Was feeling bored and complacent at my old firm

My compensation is up 35% and feel challenged in my new role due to better quality of deals we do

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You’re an associate, your whole career is only a few years no?

Anyways, pay is typically similar between banks at the same tier if you’re directly lateraling, with the exception of possibly a few EBs that have historically paid above market.

Culture is important but again won’t be HUGELY different between banks at the same tier. But there are certain nuances/exceptions to the rule both from brand perspective and even sectors within the banks. Some are sweatier than others.

At a junior level, the biggest difference is deal flow and the experience you’re going to get (depth and breadth). You want to be somewhere where you’re actually executing on deals vs. pitching for work and idea creation/BD. That will be dictated on the brand, sector and ultimately the MDs.

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Leave whenever you can get a bump 30% plus while also developing your skillset further at the next role. The same people move around a lot so in my limited experience the people are always the same but the culture can change depending on the head of the LOB/org. Some offer better benefits as well for different stages of life like some at x executive level may provide a pension if you serve 10 years etc

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