QUESTION: I am aware there are threads on this, but my post pertains to my personal situation. I am currently a first year associate analyst at a Rating Agency and I want to make my way to the buy side. I don't care too much for working at a hedge fund, I am thinking more along the lines of a mutual fund, SMA, or another type of long-only asset manager. What would be the best route for me? Before answering the question, here is my background:
BACKGROUND: I could care less about comp., I like to exercise and watch the occasional Netflix - I don't need money for my lifestyle. I am just super intrigued by investing, modeling, fundamental analysis, etc. It's just fun and competitive. Why not have a career in something you enjoy, right? My education/internship background - 3.9 Economics/Political Science double major at a small non-target and internship experience at a rating agency (full-time now), PWM shop and boutique investment bank (I fetched coffee and had angel investors reject me when I asked for funding for our clients). I played baseball for four years and held the same extracurricular positions that every other person applying for real finance jobs held (president of investing club, participated in blah blah blah, etc.).
To be honest, I would rather not work 70+ hours a week because I have a girlfriend of 4 years, and as I said earlier, I like to exercise. That's why I am pretty turned off by IB. I figured the reasonable options are: studying for the CFA or an MBA and jumping straight into my desired position, applying for jobs on the sell side (equity research, etc.) or being a slave a.k.a. IB (unfortunately). Any suggestions? Thanks WSO.
Go to buyside credit shops, very doable. Get cfa to show you're serious.
Straight from the rating agency?
Yes
CFA is a good start, asset management firms want to see you have an interest in the markets. where i work, they love to see progress towards CFA and some kind of investment mangagement role where you have some kind of influence on the decision making process. if you cant get into front office off the bat, a middle office role would be a great start as well, Back office you will have a much harder time trying to get to front office.
A bunch of the credit analysts on my team came from ratings agencies.
What's your take on fixed income AM? Do you enjoy the day-to-day?
For those of you at buyside credit shops, also curious to hear how doable you think it is to enter from purely equity investing?
What should I do to develop fundamental credit investing skills?
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