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Originally Posted by Unregistered
Fair point. Would just like to point out that there is actually a slight distinction not just in terms of title, but also salary and prospects for MO via-a-vis BO. Think about roles like risk, client services and trade support as opposed to settlements/clearing, technology, compliance and HR.
Not a great difference in pay (pretty minimal), but still noticeable. It is also more likely (although still low) for MO folks to lateral to FO as they are closer to the revenue generating side of the business as compared to those in BO (which are typically situated outside the country or CBD).
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Unfortunately, not necessarily true on both counts as well (at least in the context of BB investment banks, can't say for commercial or local banks). The lateral to FO happens in all BO/MO, as long as you can show the FO interviewers within the group you know what they are about. It's "easier" only if you're exposed to what they are doing: A clearing, client onboarding or technology person can just as well go into FO (Have seen a lot of cases), because they knew how desk pnl worked, how trades would be cleared (a very important point for high frequency trading/prime brokerage clients) etc. You can build connections with the desk to increase your chances; and as per mentioned, some BO like technology / client onboarding talk to FO a lot more than your vanilla trade support roles.
Salary wise, again, I didn't see any noticeable difference on both sides. Neither did my colleagues. I was sometimes lower in your "MO", sometimes higher in "BO". Can't say I know fully how compensation is attributed across teams, but pretty sure they don't give a bigger pie to MO over BO, simply because in these BBs, the bosses do not really care.