I have dedicated my 4 years concentrating on clearing in these exams. After reading this, I think that’s the very-optimistic view of looking at things…and I’m completely bummed. However, via connections I might pull off an MO analyst position with a bulge bracket (Credit Risk)..would this be a good move? We are revenue generators, no doubt but that makes us more ignorant than anything else. Would it be worthwhile to take a position like this or should I continue networking to get into IB or S&T? https://www.mergersandinquisitions.com/tales-from-the-back-office/ maybe helpful to you. I work in the back office in SA all the above are so true; they gave me a very good and well deserved laugh but the big Corporations do give us generous bonuses. Please note that our banks/markets (Philippines) isn’t sophisticated yet so I’m concerned that as is, my current experience gained in BO would eventually go nowhere. I don’t know if they will be any help down the line so I cannot count on that. Leave those questions when the positions are limiting up and you will even get invited for drinks afterwork. Maybe I can leverage my graduate degree and a CFA level 1 to show my commitment. Given that I have no significant finance experience yet, do you think that this might help me eventually land a job in the field that really interests me or is it not worth the effort? Many thanks again! Back office pay – base salary about the same but bonuses much lower / nonexistent. Most people told me big 4 audit would better because it is a client facing role. They offered me a return offer that is actually very competitve, but I’m nervous to take it because of articles like this….My goal is to work for three years and then get an MBA at a top 15 school. Especially if you accept a support role in an early internship or a role that has significant overlap with trading, you can get out. I’ve actually seen quite a few TAS guys break into banking/finance so it’s definitely possible. If you haven’t had a lot of success with other firms yet, I still think LGIM is the best option for now (and then continue networking once you’re there). Yes, some back and middle-office roles are quite repetitive. It depends on where you see yourself going in the future, and if you like the team members there or not. I have a quick question about risk management. I’m an undergraduate at a target school going into my junior-year summer and am facing two options: (1) Back-office at a bulge bracket (i.e. But there’s no guarantee you’ll make it, even in an IT role, and front-office roles give you more options if you drop out in the early-to-mid stages and want to do something else. 3. I hope someone will be willing to help me out, thanks! BO is full of shit whether its large IB or some shitty HF. I am deciding whether to apply and study for a masters in banking/finance at a top UK university. "But, what I aspire to become is middle/middle.". Could you please advise if I should accept this role and try to get into DCM or IB? Would you accept the offer and try to keep looking for a FO position or you wouldn´t accept the offer. Left for a night-shift Call-center job (back office) in Barcap that paid twice the amount. Do you think doing courses like WallStreet Prep, CFA level 1, series 79/63 would be helpful to advance a career from back-end to front-end within a year? Mache jetzt den nächsten Schritt in deiner Karriere, mit Jobs auf Monster. I have no problems with the reasons listed here except 2 and 3. Before that I worked as a banking and finance attorney for about two years in a reputable law firm. Unfortunately, I come from a non target undergrad and I graduated in May. What are your thoughts on this? I have a job working in Margins. I get a sumer internship in operation services in one of the top banks ( back office). I already have front office experience from last summer and this is my final junior internship. Thanks for this article, I’ve got a question regarding a gray area–Administrative Assistant to a Managing Director or Senior Managing Director. Yes, potentially. Pay and bonuses depend on the firm and you may want to check out http://hudson.com/knowledgecenter/salary-guides for details Sure. It’s close to 2 years now, and I have been doing some serious thinking of my career. It is very difficult, but the best options are to aim for boutique firms, go back for a Master’s degree and use that to get in, or aim for front-office roles in an area like sales & trading where it’s easier to move over. It’s not a matter of whether the fella has good EQ or not, but rather HR covering their own asses by stating that “Hey, we interviewed the guy with the most paper, the most ‘smarts'”. It’s not the end of the world, search for the middle office to sales & trading interview here. The majority of UK exports — over £300bn-worth — now go to non-EU countries. If it’s just an internship and your best option I would take it. (I’m wondering because initially you said accountancy wasn’t finance per se.). Could you please suggest me: Does staying in KPO/offshore units help me in my goal? I turned down a front office internship working for a smaller firm and interned at one of the Big Banks (JPM) in NY in the back office (Operations). Perhaps risk management and maybe trading roles (this is stretching it a bit). Submit. So do you think if I accepted the summer position now and applied for a front office job after graduation, they would hold it against me? Yes, I would recommend Big 4 TAS/Corp Fin over BO. After 7-8 painful months of job searching I now have two offers to choose between. In simplistic terms, FO = divisions that generate revenue i.e. Talk about how you helped them generate revenue, save money/time, or something to that effect, and how your skills might apply to real trading at a bank or even to deals (think leadership, teamwork, solving problems, etc.). I’d say it is back office because you maybe pulling up data for the IB team. If you can find a FO role in the next few months I’d go for that. An MBA is out of the question. 2. Opportunity for ACCA, CIMA, CFA support. Hi, I am in need of your suggestion for my situation. Want to hear your thoughts. You’ll need to fight hard to avoid being roped into the back office. Can only do so many accounts in a day. Hello everyone I have an internship as a investment banking operations intern. If you want a role in FO for a FT role, this internship will help you (vs the compliance internship). Now it feels like I have waster my career and I don’t know what to do. Sorry, don’t know anything about this industry. I’ve been cold calling quite a few firms currently – probably 3/4 a day. That’s fine but you wanted to reduce wasted time. Nothing personal, but this is a business and the focus is on supporting customers – unfortunately I would do nothing but answer emails for 12 hours per day if I let everyone ask detailed questions. I don’t think it will be impossible to get into Facebook, Google, etc. The fund just finished the first-phase of its fund raising process. It took a little while to get calls/interviews, but in May earlier this year I finally got a new job at a mid sized firm working in municipal finance. I had the impression that being in IT and just working your butt off (impressing FO ppl for B School recs, or simply moving up) would have given you a good shot at B School. I’ve realized quickly though, that I have a better educational background than 99% of my group. From a HR perspective though – Looking for candidates with a CFA was probably the most efficient way to decide who to hire. Hopefully in a few years I’ll have an interesting story for you to discuss with you and your readers. I notice that “unstable” traders are the ones who abuse people in general and are the ones who get booted first. 5. Thanks a lot! It will not be easy but it’s doable (see response on the other thread). What does it mean to you? I graduated in Economics from an average university from London, England having obtained a 2:1 equivalent to a 3.5 GPA. What do you think about someone with this role wanting to switch to a finance research related job such as Equity Research, Credit Rating? As well, I’m writing the CFA level 1 exam in December. Any thoughts on that? Currently working as part of the DD1 BM role doing exactly that, have 2 predecessors that have gone into trading roles before me, but not sure if just luck or you actually gain relevant skills for the move? TS is client facing, not the corporate treasury role. I’m sure it would still be impossible to move into a banking role but what about moving from a HF administrator to a HF trading desk or equity analysis? Unfortunately for you, though, back office people are not part of the investment process. Also, how do top B-schools look at “boutique IB wrk ex + BB captive kpo work ex”. Having prepared anything for front roles, but still I didn’t break into it. Well, what else are you going to do? Yes, you can earn a lot at the top levels. https://www.mergersandinquisitions.com/startup-investment-banks-india/ https://www.mergersandinquisitions.com/investment-banking-india/. This bank is a custody bank and they have a big Ops division. What is the soonest possible period for me to quit without looking like an idiot for taking the job. club t-shirt (the acronym stands for “Back Office Beefcake” – Brian and I are still ironing out intellectual property details, so for now, just write your name and B.O.B. I’m not sure I understand your question, but trading is in a different category from Big 4 work… in trading you generate revenue whereas with Big 4 work you are just servicing clients. Is corporate banking/client coverage considered front/middle/back office, and are there opp to move into IBD? I want to transition to a front office role from my current position. is it more relevant in valuation? If you want to make it to the front office, you need to prove that you can do the job. Join 307,012+ Monthly Readers. It’s tough for IB but easier for S&T. Thanks. I did work in back office right out of college (energy trading) for 2 years and left to get my masters. Hi, I have been working in deutsche bank banglaore (india) for three years in back office without any promotion or hike in my salary. Due to my previous experience in sales. Anyway, if you can help, great, if not, that’s cool too. Sadly one of them was let go, so the risks in the Front Office can be higher, so be careful what you wish for, and if stability and work life balance is important, don’t even think about it. The back office is comprised of the areas that don’t directly generate revenue for the business, but provide vital support and administration. Das Back Office ist in einer Praxis der richtige Platz und bietet mit einem kleinen Umbau passende Diskretion. See: https://www.mergersandinquisitions.com/investment-banking-india/. I’m wondering if it’s possible for me to make use of my knowledge gained as a derivative settlements intern to perform better during my interview for a trading position next year, or will it be of almost no advantage at all? 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