Out of the blue I got a call from a bank in my city for a credit analyst position. They found out about me through some people I knew at the bank. This is a commercial banking position. I never gave much thought regarding working for a bank, as I always have wanted to do commercial real estate. I think this position can lead to a lot of different opportunities.
I searched these forums for a couple topics regarding a credit analyst position, and got some decent info but I was wondering if anyone had any more insight. The bank wants to meet with me, so what kind of questions should I prepare for? It seems like a credit analyst is paid roughly 50K first year, is that correct? What kind of exit ops could I look forward to after 2 or 3 years doing this? And could this help for a commercial real estate career?
Is anyone on here a credit analyst at a bank? How do you like the work? What is your day like?
Thanks
I have a couple friends who are credit analyst. It is pretty solid work. Your going to be getting some messy financials and will be spreading them, seeing if they can repay, looking at collateral, seeing what kind of relation they have with the bank, etc. Nothing like IB modeling, but you will be doing some fundamental analysis, making sure it is worth loaning to them.
Typical career path would be more senior analyst or if you like sales/relationship management you would become a RM for a portfolio of loans.
You can spin it and try and go to a debt shop or something. I think it is a decent gig.
How good is the bank? The top 6 commercial banks are Citi, Chase, BOA, PNC, TD Bank, Wells Fargo.
As far as the job goes, it is a solid 9-5 that offers good experience. Also I feel like you could still get into a top B school with a good GMAT with rative ease.
I'm a Credit Analyst. PM me if you want to hear about it.
awesome work/life balance. i think starting pay at the top banks were boosted... i know for one of the aforementioned 6 banks, the offer was $65k base.
definitely a lot of fundamental / macro analysis, but because you're not an equity investor or issuing high yield stuff, the analysis is not as in depth as in banking and is more superficial
Wow, 65k base is higher than I would've expected for commercial banking. I have an interview coming up with one of those banks...Any idea what the bonus would be?
I just wrapped up two years as a credit analyst at a bank in Chicago and just transitioned into a MM investment bank. PM if you want more details..
agree w OPP
San Ford, can you post more info publicly?
Seems like a cool position in light of the credit crisis. Lots of the financial crisis problems started at the commercial bank credit analyst level. If you do it well, it's like having a noble position in finance.
Actually, who am I kidding...
I started/currently working as a CB credit analyst for one of the top 6 mentioned. Base pay starts 55k to 65k depending on where it's based. Bonuses are pretty rough though. 2k-5k. I can only comment on my current employer, but assuming its standard across the board for top CBs.
70 k NYC commercial banking with 10k bonus (think bofa, jpm , wfc)
A quia corporis ratione autem id repellendus soluta. Delectus cum dignissimos omnis qui consequatur. Nostrum qui sint eveniet et recusandae recusandae et rerum. Quia alias tempore et fuga ut et eos nam. Nesciunt quia id explicabo nostrum soluta itaque voluptatum. Aperiam blanditiis ad odit asperiores saepe sed similique. Commodi facilis eveniet maiores autem molestiae.
Inventore voluptate ex suscipit. Occaecati libero perferendis aliquid iste rerum dolor. Quis sed maiores voluptatem qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...