What's up WSO?
I am a 2nd year credit analyst at a rating agency (S&P, Moody's, Fitch). A few of my friends on both the corporate and municipal sides of the business have been able to get offers from bond/credit funds after about 3-5 years at a rating agency. Given that I am on the municipal side of the business, my best bet would be to stay a few more years, and then, take my chances at the municipal AM industry.
The caveat is that for quite some time I have been trying to break into Equity Research. Given the increasing regulatory constraints on the sell-side ER industry, I have applied and interviewed at only BBs and independent ER shops (with some sort of specialization). I was able to land a position at a specialized boutique that, in my opinion, is shielded against the changing dynamic of the industry.
In my brief time in the work world, I have learned a lot about myself and the direction in which I would be happy going with my career. I love finance, I want to stay in the game long-term, and I want to eventually make my way to the buy-side. My interests have always been slanted towards equity research (environment, technical skills, exit ops) and that is where I think I would be happiest. However, sticking to the muni bond route is a more direct route to the buy-side, less competitive, and a better work-life balance. I'm torn.
** If you were me, what would you do? **
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