Future Career Path with Sell-Side Private/Structured Credit
A few months ago I accepted an internship offer to work at a sell-side BB in Chicago this Summer doing S&T (Structuring and Sales mixed together) on a desk doing Private Credit, Loans to PE firms, Structured Credit. I was wondering what the career path looks like and if there's good opportunities to lateral and move to LevFin IBD group internally after a few years (given I assume they'd work with the LevFin IBD group and PE sponsors)? How modelling intensive do you think the group would be (and is that beneficial)? How complicated is credit/bond math, as someone who is not like an ex-quant trader/coder or anything? Would a later career in Real Estate/Infrastructure Debt be possible too?
This is not rotational and I'm planning to focus on just getting the return offer (because im actually graduating right after my internship weirdly enough and so will be starting full-time immediately). So let's not talk about re-recruiting post-internship, etc
Based on the most helpful WSO content, embarking on a career in Structured Credit and Private Credit at a sell-side BB in Chicago offers a unique and promising pathway within the finance industry. Your role, which combines Structuring and Sales in S&T, focusing on Private Credit and Loans to PE firms, positions you well for a variety of future opportunities. Here's a breakdown of your potential career path and related queries:
Career Path and Lateral Moves to LevFin IBD:
Modelling Intensity:
Complexity of Credit/Bond Math:
Transition to Real Estate/Infrastructure Debt:
Focus on Securing a Return Offer:
In summary, your internship in Structured Credit and Private Credit at a sell-side BB offers a promising start to your career in finance. Embrace the learning opportunities, network internally, and consider how each skill and experience aligns with your long-term career aspirations.
Sources: Buy-side vs sell-side path to credit funds, Accounting vs Finance: Part 1 – Career Paths, BofA Wholsale Credit vs Credit Risk, Which Offer? IBD Originations: Structured Finance or Public Finance?, IB Credit Risk to Buyside Debt
just bumping this
To be honest, from the info you provided, I can’t really tell you much. As this is a structuring/sales role I highly assume you will be responsible for syndication of levered loans originated by your financing desks. Internal lateral might be possible, but the LevFin/Private Credit teams at BBs I know are extremely lean and highly competitive to get in as they obviously get the best looks at credit funds. Maybe provide a bit more info what the team does and we can help you more…
Here are some questions that may be helpful for your upcoming interview. What types of projects and tasks can I expect during my internship? What professional development opportunities are available to interns in your group? What skills and knowledge can I develop during my internship that will be useful in a future career in finance?
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