Was hoping I can get some insight. Does anyone have an experience or know of anyone who worked for an insurance firm and did equity research/credit research for them? Are exit ops to a credit hedge fund/equity fund realistic after some time? Have an interview for a credit research role at an insurance firm this week and want to know if it would be worth it if given the opportunity.
Trending Content - Asset Management Forum
Career Resources
Hi Logisticjoe, no, I never sleep and so I can respond to any lonely threads (like this one) at all hours of the night. Impressive, I know ;-)
You're welcome.
I can't speak for equity research but on the credit side an HF exit op is certainly possible. It's admittedly a little more difficult compared to coming from other institutional types but I've seen several analysts transition to distressed debt and even one person go to long/short (I personally wouldn't say L/S is common though). Obviously the longer you stay the tougher it is to break the mold, so after 2sh years you'd want to start taking calls from head hunters (assuming you're just getting your feet wet in research for the first time). If you can interview with a convincing story and build some deep knowledge on the trends that HFs are chasing at the time, then I think it's doable. There's always the b school rip cord too if you see that as a future option.
Thank you, I appreciate it. I was given the option to interview for their Investment grade and high yield teams. 2 seperate, will go with high yield then if given the opportunity.
.
Perfect. Still have to go through the interview process and see what happens but will try my best to get on the right projects and stick with non investment grade. Thanks for the response.
.
Can anyone provide some tips/material someone should know for a high yield credit research interview? Types of technical questions that can be asked?
Made it through a few rounds and now will be interviewing in person next week and will be taking a writing assessment. I think the assessment will be writing a summary of an earnings report.. They mentioned something along those lines during one of our phone conversation but not sure. 45 min time slot for the assessment so we'll see. Anyone have anything I should know for a credit analyst position interview? Any good study materials?
Are they total return or buy and hold (general account)? If it is the latter then it should not be very focused on recent earnings unless they were significant enough to move spreads. You should focus more on long-term fundamentals of the company and the industry they are in and what the key drivers are. There is no real standard format to a credit write up but something along the lines of thesis/ outlook, strengths/ weaknesses, merits/ risks to your thesis, commentary on financials/ leverage/ capital structure, etc.
Total return would entail some comp/ peer analysis with spreads and where on the curve you would want to be positioned and why --> relative value.
good luck!
Laudantium quia eum ad rem non ut maiores. Quisquam quas odit ea esse veritatis. Maiores molestiae illum mollitia nihil voluptate explicabo.
Accusamus officiis quia laboriosam eveniet vero architecto. Ipsa et inventore quo quia quia. Enim dolor et illum minima non. Cupiditate architecto maiores sint nam. Officia aut aut iusto et animi ut et.
Inventore ut sed voluptatem fuga veniam. Distinctio voluptatem facere delectus impedit magni voluptatum. Eum tenetur quo voluptas facere minima.
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...