FT Opportunities after PC SA

Based on the most helpful WSO content, here are some full-time (FT) opportunities you can leverage with a middle-market (MM) Principal Credit (PC) Summer Analyst (SA) experience in senior debt:

1. Restructuring (Rx) in Investment Banking (IB):

   • Provides exposure to distressed assets and complex financial situations.
   • Involves working on turnaround strategies and debt restructuring.

2. Leveraged Finance in IB:

   • Focuses on high-yield debt and leveraged buyouts.
   • Offers broader exposure beyond senior debt, including mezzanine and subordinated debt.

3. Fixed Income Research:

   • Involves analyzing bonds and other fixed-income securities.
   • Can provide a deep dive into credit analysis and market trends.

4. Large Asset Management (AM):

   • Working within their Principal Credit arm.
   • Potential for more exposure across the capital structure, including equity and hybrid securities.

5. Acquisitions Teams in Private Equity (PE):

   • Although some PE shops may require Asset Management (AM) experience before moving to acquisitions, it varies by firm size and reputation.
   • Larger, more reputable firms might have separate teams for acquisitions and AM.

6. Special Situations Funds:

   • Focuses on unique investment opportunities, often involving distressed or complex financial situations.
   • Requires demonstrating the ability to handle more complex nuances beyond senior lending.

These options provide a range of roles that can leverage your experience in senior debt while offering broader exposure and potential career growth.

Sources: Q&A: From Big4 Audit -> Big4 Advisory -> MBA -> AM Portfolio Manager, Is CRE Debt Experience Pretty Enough for PE?, FT Offer Fundamental vs Quant AM, Best Route to a fundamentally driven HF in Londob: IB vs AM?, MF PC to HF, Special Sits, Something Else