Decided I hate working in credit but I am a credit analyst - what can I do?
So I've had a couple of stints as a credit analyst at various places - big 3 rating agency and now a buyside pension fund.
I absolutely hate it. It is rotting my brain. I swear to god credit "analysis" is so dumb, made up to keep B-tier finance employees from rioting or to seem like they give a sh*t about risk. I feel like I'm adding no value by trying to predict and advise our PMs on future rating changes or flag risks. My salary is stagnant and not particularly high, bonus pathetic. My coworkers are all boring, socially inept and risk averse. Every day I dread going to work and I'm getting anxiety from the prospect of doing this for 30 more years.
So... what can I do? I've assessed my opportunities on LinkedIn and an exit from credit seems basically impossible at this point.
I'm honestly debating going back to school to study again. I studied economics so could do a masters (potentially at a very good school) and then go for a consultancy or government role, stomaching the certain salary hit. I feel like an MBA is a bigger risk and doesn't guarantee a different role in finance, given the high cost and that I'd be unlikely to get into a top school...
I went to a semi-target school, 3.5 GPA, 28 years old. No CFA at the moment, but I could get it.
Maybe secondaries or a fund of funds that has exposure to non-credit stuff. Know those guys don’t really rake it in either and might not be the most thrilling work either, but could be a point to pivot from.
Why not more interesting credit vs what you’re doing?
If you have some knowledge of finance, you can learn some investment knowledge and increase some passive income.
In a similar position to you, and definitely seems hard to pivot out of.
I’m currently going back to pursue a Masters at a target school in hopes to make the pivot a lot easier, because I don’t see any other way in all honesty
Good luck to you brother. What subject? Straight finance? I’m seriously considering doing one but a bit put off with all the average ages on these programs being like 22…
Could you move to DCM or Lev Fin at a BB?
It is possible, but very rare. One guy from my analyst class in my ratings agency is now at a BB in DCM, the rest are either still there or are in other roles such as ratings advisory, credit analysis at a bank, credit buyside etc. I think I’m too old to realistically to make a move like that (without doing an MBA).
Ratings is overall a pretty bad place to start IMO in retrospect. Really corners you into a very niche, pretty dull part of finance.
Don’t think credit is “very niche”. There’s Corp banking, DCM, LevFin, PC, Securitization, Credit Research, buyside, etc to choose from.
Have there not been any folks from ratings going to these roles?
If you are any good you wouldn't be working for a pension. You are at the bottom of the risk/alpha spectrum.
HF credit > pure play AM > BB AM > Insurance > Pension
I’m in a similar spot as OP. In Corporate Banking at a BS bank (not BB) and wondering what exit opps are possible from my current seat.
Don't discount yourself from an MBA. 3.5 is a good GPA. If you get an ok score on GRE/GMAT you can easily do a t30 school atleast.
Identify as a PE analyst then you’re good
U complain about B tier employees and then want to go to into government work?
IMO if I don’t have any hope of reaching the A tier in finance anymore, I may as well have a cushy/secure government role instead doing more interesting economics work in the public interest than just being subservient to some A-tier finance bro for the rest of my career.
Look into commercial or corporate banking. DCM at a non BB bs bank is also plausible good luck
Dawg, everything you say here REEKS of loser mentality. It kind of make sense that you ended up where you did. This is what I expect the bullpen at Fitch's municipal credit ratings desk to smell like.
I'm not trying to just shit on you. Take a cold shower and slap yourself in the face. Listen to yourself. "Too old for MBA" "B tier employees" "Exit from credit seems basically impossible at this point". Are you observing or projecting?
You are young and full of energy. You have a long career ahead of you. Have you even looked into what it is exactly that you'd like to do if you weren't bound by your current role? Don't say "PE" "CEO" or whatever if you haven't talked to at least 5 people who do those jobs at length about what it is that they do. Start there. Stop sleepwalking through your own life.
Yeah man I think you’re right. Working with mostly losers (particularly the senior people) your whole career starts to rub off on you after a while.
I don’t doubt my abilities, I know I’m intelligent and think I do could my current role with my eyes closed. I’m just letting the unhappiness with my current role get to my head and instead I need to aim higher.
Non illum totam excepturi possimus reprehenderit aut beatae recusandae. Saepe dolores reprehenderit exercitationem velit magni similique.
Ratione magni harum eum quae ut dolor nesciunt. Voluptatibus quis dolore sint. Non repellat quos consequuntur cupiditate quasi dolorem quo non. Rerum vero ab pariatur tempore eos ab adipisci.
Fugit odio qui aut error iure necessitatibus. Deserunt veniam perspiciatis at culpa. Aspernatur est quisquam unde eveniet praesentium quis. Aperiam est voluptatem ea soluta ea dolor sit placeat. Dolorum consequatur voluptatem excepturi et voluptas voluptates sapiente.
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...