Is it weird to aspire to work in middle/back-office banking?

So I go to a good uni but I'm not really interested in working in a front-office role like IBD, unlike all my friends who do. I'm more interested in market risk.

Is it weird/unusual/stupid to want to work in middle office? Am i being not aspirational enough?

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Reply 1

username738914

Original post by serions871

No, it's not. In fact more people should because I'm certain those gunning for FO just for the sake of it being FO, are the ones that will probably not have much success in the recruitment process.

Do what you enjoy mate.

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Reply 2

Hamo2509

Original post by serions871

Risk is also a massively growing part of banking with a lot of new jobs being created. You like what you like, don't worry about what others want to do.

Reply 3

username1177050

Not really no. There is loads of legal and compliance/regulatory type work which has seen an increase in hiring and the salaries are decent

Reply 4

faston2k16

No it's fine, OP. Lots of people apply for middle office roles and not all of them are front office rejects.

Anyone know what comp is like for analysts in market risk or middle office in general?

Reply 5

Trapz99

Original post by faston2k16

No it's fine, OP. Lots of people apply for middle office roles and not all of them are front office rejects.

Anyone know what comp is like for analysts in market risk or middle office in general?

It's around £42000 for an analyst (not sure whether that's for analyst 1,2 or 3) and £64000 for an associate and £100000 for a VP

Reply 6

username738914

Original post by Trapz99

It's around £42000 for an analyst (not sure whether that's for analyst 1,2 or 3) and £64000 for an associate and £100000 for a VP

Deffo An 1

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Reply 7

username738914

Original post by faston2k16

No it's fine, OP. Lots of people apply for middle office roles and not all of them are front office rejects.

Anyone know what comp is like for analysts in market risk or middle office in general?

Middle office should be a noticeable discount from FO in terms of bonuses, back office even more of a discount.

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Reply 8

jxh499

I'm with you OP, I have no interest in FO, I'd prefer a slightly higher level of job security, and the roles that really stimulate me lie in compliance and risk.

Reply 9

Trapz99

Original post by jxh499

I'm with you OP, I have no interest in FO, I'd prefer a slightly higher level of job security, and the roles that really stimulate me lie in compliance and risk.

Risk/compliance isn't a secure job either lol

Reply 10

jxh499

I didn't say it was. But it's certainly more secure than an M&A analyst

Reply 11

gr8wizard10

good to hace direction, whatever that may be

Reply 12

Trapz99

Original post by jxh499

I didn't say it was. But it's certainly more secure than an M&A analyst

Sorry to bang up an old thread but it's not more secure, risk jobs are some of the first to go

Reply 13

username738914

Original post by Trapz99

Sorry to bang up an old thread but it's not more secure, risk jobs are some of the first to go

Since when?

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Reply 14

Foji

What does a risk job entail? Ik what FO M&A is about but what about risk? Is that like business performance?

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Reply 15

username738914

Original post by Foji

What does a risk job entail? Ik what FO M&A is about but what about risk? Is that like business performance?

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Depends on the type of risk: credit, market or operational.

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Reply 16

Foji

Original post by Princepieman

Depends on the type of risk: credit, market or operational.

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Okay market?

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Reply 17

username738914

Original post by Foji

Okay market?

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They basically make sure the traders aren't exposing the bank to too much risk. All of it is centred around calculating VaR throughout the day for a specific desk using models and then keeping an eye on how the traders are trading with respect to their individual VaR limits.

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