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Investment Banking Apprenticeship Choice Struggle

Hello, this will be a long post so please bare with me. I've got until Monday (basically 2 days or 3 if I drag it out to the end of Monday) to come to a choice and accept the FO offer, I've got until 12th June (7 days from today) to SIGN THE CONTRACT with the BO offer. I was given the FO offer today and I'm just using all sources to make a well-informed conclusion in this short space of time. Of note - both are degree apprenticeships and the unis where I'll study are pretty low-ranked for both options so this isn't really a factor for me.

I'll quickly put why I applied to both as well.

BO:Work experience at a different 1st tier bank and I generally was more drawn to the tech roles (however the reason why there's a bit more of a debate is because I'm thinking that it may be because my knowledge of an IB in general at the time was limited, so I din't understand the FO and MO roles that much at the time of the placement, but where I study Computer Science at A-Level there was the general relation and understanding of the tech work). Therefore a division that I liked and understood, at a top tier bank was a no-brainer at that time.

FO:Made a general application to 4 divisions within the bank, and this divison (outlined below) scooped me up and I went through the process with them. Limited working knowledge of the general FO of banks at the time but (as I am now) was still learning more and more, and through the rounds I really do like the sounds of the role. Also I know how hard the FO can be to break into sometimes, and even from my aforementioned work experience, they said to me (MULTIPLE TIMES) as a Junior entrant into Investment Banking, target the front office as your main goal.

If it gets to a point where I sign both contacts (or even just accept the FO offer and sign the BO contract), how difficult will it be to pull out of one of the apprenticeships?

Here's an outline of both opportunities (without saying firm names):

BO:
- Within a 1st tier bank's (def one of the most recognised globally) technology division
- 4 years, 1st year salary of 21K with potential to go up each year
- Study towards degree in Digital and Technology Solutions over the 4 years

Advantages:
- Job security with it being in the tech divison, learning to code will be vital
- More reputable bank- Flexibility within the programme (4 years, 12 months per team so 4 teams in total)
- Easier to manage time better with BOwithDegree than FOwithDegree

FO:
- Within one team of a 2nd tier bank's (relatively known) CM Division
- 3-3.5years with salaries of 19K, 22K then 25K, respectively as the years progress
- Study towards a HND in Business for the first 1.5 years then topped up to a full Business degree for the next 1.5-2 years.
Advantages:
- DEFINITE Salary progression
- The FO (which most people, like myself, wish to target)
- Can move laterally to other firms if opportunities arise and if I'm successful (of course duh)
- FO to BO is much easier than BO to FO especially via an apprenticeship

The Debate:
I'm just going to outline each general factor and which option I consider to be the 'winner' of that factor:

- Reputation: BO
- Salary: BO initially, FO long term (I'm looking into the long term so therefore FO)
- Work-Life Balance: BO
- Degree intensity: unsure (Longer working hours in the FO but Business degree may be easier than Dig and Tech Sol, especially with things like final year projects)
- Job Security: BO
- Parent's opinion: (A bit more unusual but it's a factor nonetheless, plus I'll be living at home for at least 1st year so I can't let them down lmao) BO (reputation for them is the most important factor plus generally work I did to get BO role was much more than FO role).

If anyone wants to give their opinion, on the factors listed and other ones to consider, it'll be much appreciated!

(edited 3 years ago)

Reply 1

HoldThisL

jesus christ never mind paragraphs, at least use a sensible number of full stops to begin with

Reply 2

RhysSharp

Original post by HoldThisL

jesus christ never mind paragraphs, at least use a sensible number of full stops to begin with

soz pls refresh I have no idea why it turned out like that I just edited it

Reply 3

Sxndhu

Currently applying for IB Apprenticeships. If you dont mind can you let me know if you what option you went ahead with and if you would recommend it. Also could you hint towards what company gave you the offers.

Investment Banking Apprenticeship Choice Struggle

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