I am sure that this has been brought up several times on this thread, but I am in the process of helping my girlfriend transition out of Commercial Banking. She's a Credit Analyst within Corporate Banking at a mid-tier, yet large regional bank. Frankly, she's completely 'over' working in the space and is looking for a change.
Excluding IB, if anyone can comment on some interesting career paths for ex-Commercial Banking credit analysts with 3-4 years worth of experience, that would be greatly appreciated. Additionally, anything in the FinTech/Start Up world would be welcomed.
Thanks,
Phil
Exit ops are generally other commercial/corporate banking roles in a more senior capacity, investment banking, direct lending, credit funds, business school, etc. Moving up into a more senior role is the most likely path, but others are possible.
In the fintech/startup space, she could look into peer-to-peer lending. That space continues to develop and often looks towards people with lending backgrounds.
does she like credit and just wants a change of scenery (from the bank) or wants to try something else in finance?
Commercial banking at a credit union exit opps (Originally Posted: 04/07/2018)
I have an interview for a role at a credit union's commercial banking arm. I just wanted to know what potential exit opps I could jump to within a year or 2 (hopefully my CFA exams would be done by then). I was hoping for corporate banking or leveraged finance. Let me know what you guys think.
s96ahmed, bummer your thread hasn't had a response yet. Sometimes bots are smarter than humans anyways:
No promises, but sometimes if we mention a user, they will share their wisdom: @Mrodrigues1991" Eric-Hanek Aditya-Bansal
If those topics were completely useless, don't blame me, blame my programmers...
Do you know how big the credit union is in terms of asset size? What position would you be filling at the firm?
Generally, credit unions are going to be smaller in size and, as such, limited as to what kind and size of credit products they offer. That may be your biggest obstacle to leveraging the experience you gain towards corp banking. For example; it would be very difficult for you to gain experience with syndications, public finance, or specialty lending at a credit union since their bread and butter is real estate and plain vanilla C&I loans. Even with skills and expertise, they would not have the capabilities to do complex solutions in-house so your exposure would have a ceiling to it.
^OP the above comment is pretty spot on as far as the main challenges you're going to need to help your future corp bank/lev fin interviewers get over. The bigger the dollar amount and the more complex the transactional experience you can gain, the better (again the CFA will definitely help with that as well). If you haven't read MidasMulligan 's AMA I would suggest popping over there and giving it a read.
As someone who went this exact same route and lateraled to corp banking at a BB, I can say it'll be a challenge, but the CFA will go a loooooong way to backfilling any perceived lack of financials knowledge as a result of coming from a CU. Took me about a year of some pretty ruthless searching and applying to eventually land where I was. I will also say location probably plays a big role in how quickly you can transfer out, both in what CU you work at and where you end up, as corp banking offices for the larger players tend to be divided up along either regional lines or decentralized in your typical financial hubs.
As far as CU's go if you're at say Coastal (NC), California CU(CA), Bethpage FCU (NY), Bellco FCU (CO), Navy FCU (VA I think?), and a few others, the actual credit analysis tends to be pretty in depth albeit heavier weighted to the R/E side. As long as your place has over $1Bn in assets you should be fine. Feel free to PM me if you want.
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