Credit Analyst Career Path
Hey everyone - long time since my last post. Since I got my MBA I've been working as a Commercial Credit Analyst for a community bank for a couple months. It's fairly small (I think about a billion or so in assets). Before anyone asks why I'm working at a small bank it's because I stayed in a much smaller market for other, more important reasons. However there's a good chance I'll end up in the Dallas-Ft. Worth metroplex in the nearish future. I'm seeking advice on what the typical career path is for a credit analyst and what finance jobs I qualify for. It's not a bad job but I was more interested in finance/investments in grad school and I find banking to be kind of boring. It's like reliving accounting 101 everyday lol. I'm not exactly sure what I want to do and my job isn't that bad. As I said I'm merely seeking career advice. Thanks.
Hoping you would have received some responses -_- ...... I'm out of undergrad and in a hybrid commercial administrator/credit analyst/BDR assistant position at a local credit union in MA (~500MM). The commercial dept is less than a decade old, so I wear different hats and am learning at a very accelerated pace (Psych major - took one entry level econ course, no bus. mgt, accounting or finance classes). But like I said, I'm learning. I would like advice on salary progression and exit opportunities. Should I focus on credit analysis - advance to underwriting - and hopefully develop a foundation for PE and ibanking opportunities down the road, and patiently await that salary leap? Or should I keep balancing this unique hybrid job, maintain equal focus on sales and strengthening our portfolio - and perhaps gain a little more pay a little more quickly than the analyst route. But kinda be tied into community banking. And whereas the floodgates will someday open to leadership positions both in my credit union and others around the area, I will miss out on those crazy hour weeks and even crazier pay that I dream about awaiting my 9-5
I mean there are many paths depending on how analytically inclined you are. You could try and go for a larger bank within the middle market commercial credit space. You could try for corporate banking which is basically larger company credit analysis mixed with more "higher " level cross sells. You could look for a senior loan fund. Depending on what area you specialize in you could find a focused industry group. Or you could leave banking all together and go to either a small company finance/treasury department or a big company finance department. Smaller company would probably utilize your skills more since they would be seeking the type of finance that you are currently providing.
Tons of other paths, but these are the ones that quickly come to mind.
Advancement Ops for CB Credit Analyst (Originally Posted: 12/17/2013)
I just started as a CB Credit Analyst for a top regional in SoCal. The growth ops are decent and I have a lot of mentors to help me along my career. However, I'm wondering if I should move into a BB's credit training program after a year or so. These credit programs have taken the place of the "executive management training programs".
Question: By joining a training program like at Wells/Chase/Citi, I would undoubtedly take a step back by learning all the things I had been practicing, however, would there be more growth in my career by doing so?
I'd like to hear from current credit analysts or others that have gone through the programs and can shed some light. Thanks in advance
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