NatWest Financing Solutions & Loan Markets vs. Standard Chartered Credit Analyst (Associate Level): Best Exit Opportunities?
Hi everyone, I’m in a bit of a dilemma and could use some advice.
I’ve received two offers at the Associate level in London: 1. NatWest – Financing Solutions and Loan Markets: This role is more hands-on and involves working on structured transactions (mainly mid-cap corporates) focused on cash flow lending and asset-based lending. I’d handle everything from financial modelling (pricing, sensitivities, etc.) to negotiating loan documentation, writing credit proposals, and supporting the Loan Markets team with pitches and deal-related information. 2. Standard Chartered – Credit Analyst: This is primarily a portfolio management role covering 6-10 investment-grade companies. I’d be responsible for managing credit proposals for non-structured transactions such as RCFs, term loans, and limit increases, but it wouldn’t involve legal documentation or much modelling/structuring. It’s more focused on financial spreading, covenant testing, and reviewing models. Their deal teams (e.g., LevFin, Infra, Project Finance) handle more complex structuring and modelling.
Current Situation: I’m already at NatWest in a corporate coverage role, and the salary for both offers is similar.
Career Goals: My ultimate goal is to move into a deal team role, such as Leveraged Finance, Infrastructure Finance, or Project Finance.
Questions: • Which role offers better exit opportunities into these deal-focused teams? • Does having Standard Chartered on my CV provide a stronger brand compared to NatWest, especially for international roles? • At Standard Chartered, there’s also a chance to eventually work in Asia or the Middle East, which I find appealing. Should I weigh this heavily in my decision?
Would love to hear your thoughts or experiences—thanks in advance!
Based on the most helpful WSO content, here are some insights to help you with your decision:
Exit Opportunities into Deal-Focused Teams
NatWest – Financing Solutions and Loan Markets:
Standard Chartered – Credit Analyst:
Brand Strength and International Roles
Standard Chartered:
NatWest:
Considerations for International Opportunities
Summary
Given your ultimate goal to move into a deal team role, the NatWest position might be more beneficial in terms of relevant experience. However, if international mobility and brand recognition are significant factors for you, Standard Chartered could be the better choice. Consider weighing these aspects based on your long-term career aspirations.
Sources: Why the focus on exit opps?, Interesting (Post-MBA) Exits from Banking, Why the focus on exit opps?, Opportunity to move from NY to Europe in Structuring/Origination, Tier 3 IB (HSBC, BNP, etc.) to Corp Strat / Dev Exits?
Used to be at NatWest in a previous incarnation of that team. Great training ground, you should have decent exit opportunities into buy side as - at least when I was there - people did real credit work. I ended up at a decent PC house, mix of luck/right place right time but think my NWB early days placed me well.
SC is an odd shop. They are trying to be more than what they’ve been historically which is a below average CIB which covers developing markets very well. Have hired a few senior folks from CS, a little statement of intent but haven’t hired as aggressively as eg Santander in recent times.
I would probably make this about geography. If you want to work in weird geographies and go into something EM then that is the place to be, albeit not sure on the team you’d be joining. PM role will not open doors and could be a backward step as sounds like it’s IG PM which will be dull AF - NWB team much much better.
If you want to stick to developed markets, suspect NWB better.
Thanks a lot for the answer - may I ask what skills were mostly relevant when you moved into PC from NatWest?
Today culture is probably #1 at junior level, closely followed by ability to learn/look at new structures & sectors etc. Modelling / math ability is a given at associate level on the deal team. Having a broader view of the world is important - it's a great training ground but you are only seeing a very small part of the market in that NatWest team.-
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