Best Response

Having worked at a Moody's/S&P as a summer intern before I can speak to this.

Positives:

-It looks great on a resume -opens up a lot of research roles in a number of places (banks/AM firms/F500 more specifically) -learn the general ratings process and your group specific ratings process (again this helps make you look very attractive for credit analysis roles) -you get to sit in on the credit committee meetings where they actually assign the ratings. This is awesome because you get to hear different points of view, both affirming and dissenting for each rating -A lot of rating agency people end up moving after a couple years, so your network at expands

Negatives:

-One of the most mind numbingly boring positions out there -Couldn't even imagine myself working there full time as I would have died of boredom -People there tend to be a considerable notch or two down from what you're used to in finance, especially those who are older and not looking to move -High turnover of employees since most don't want to be at a rating agency for the rest of their lives -You won't get exposure to bankers as an intern -Compensation for FT is uncompetitive -No company perks at all at rating agencies

Conclusion:

A great intern position, but do whatever you can to not work there FT. Having that fundamental credit background whether you learned much or not that summer opens up a lot of doors.

 
blackjack21:

Having worked at a Moody's/S&P as a summer intern before I can speak to this.

Positives:

-It looks great on a resume
-opens up a lot of research roles in a number of places (banks/AM firms/F500 more specifically)
-learn the general ratings process and your group specific ratings process (again this helps make you look very attractive for credit analysis roles)
-you get to sit in on the credit committee meetings where they actually assign the ratings. This is awesome because you get to hear different points of view, both affirming and dissenting for each rating
-A lot of rating agency people end up moving after a couple years, so your network at expands

Negatives:

-One of the most mind numbingly boring positions out there
-Couldn't even imagine myself working there full time as I would have died of boredom
-People there tend to be a considerable notch or two down from what you're used to in finance, especially those who are older and not looking to move
-High turnover of employees since most don't want to be at a rating agency for the rest of their lives
-You won't get exposure to bankers as an intern
-Compensation for FT is uncompetitive
-No company perks at all at rating agencies

Conclusion:

A great intern position, but do whatever you can to not work there FT. Having that fundamental credit background whether you learned much or not that summer opens up a lot of doors.

Thanks for such a long response!

 

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