FP&A at a Commercial Bank vs. REPE
I currently have 1.5 years of experience in FP&A at a local branch of an international bank. Along with traditional FP&A responsibilities, I also monitor and manage liquidity and interest rate risk.
I’ve recently received an offer for a role at a $30 billion AUM Real Estate Private Equity (REPE) firm, also in FP&A. The responsibilities are quite similar, but the pay is 20% higher. While I realize that work-life balance may not be as favorable in this new role, that’s not my primary concern at the moment.
I’m contemplating whether this would be a wise career move. Some colleagues have advised me to wait and aim for a position at a larger U.S. bank focused on liquidity or interest rate risk. However, I’m intrigued by the prospect of more learning opportunities at the smaller firm. With its size, I would likely gain broader exposure, and there may even be a chance to transition into asset management, which sounds appealing.
I appreciate any insights or advice you can share! Thank you!
One response
It sounds like you’re at an important crossroads in your career, and it’s great that you’re considering your options carefully. Here are some points to reflect on that could help you decide:
Learning Opportunities: As you’ve mentioned, moving to a smaller REPE firm can offer you broader exposure and a steeper learning curve. Working in a smaller environment often means you’ll have more responsibilities and the chance to take on diverse projects, which can be invaluable for your professional growth.
Compensation: A 20% pay increase is significant. While compensation shouldn’t be your only decision factor, it can improve your financial situation and provide more stability, especially if you’re considering future opportunities.
Career Path: Transitioning to an REPE could open doors for you in asset management, as you mentioned. If you’re interested in exploring different avenues of finance, this move could be a strategic way to position yourself for future roles in the industry.
Work-Life Balance (WLB): While WLB isn’t your top priority right now, it’s worth considering how the demands of a smaller firm might affect you long-term, especially if you foresee wanting a better balance at some point.
Long-Term Goals: Think about where you want to be in the next 3-5 years. Does the experience at the REPE align with your career aspirations? If asset management or private equity are your goals, this move could be a step in the right direction.
Networking: The REPE space may provide you with new contacts and a different network, which can be beneficial for future opportunities. The relationships you build might lead to even more lucrative or fulfilling positions down the line.
Feedback from Others: Although you’ve gotten some advice to wait and target larger banks, consider discussing your ambitions with mentors or industry contacts. They may provide additional insights on the pros and cons of making the switch now versus later.
Ultimately, the decision should align with your career goals and personal values. If the new role excites you and aligns with your aspirations, it could be worth taking the leap!