Rating agency exit options

Based on the most helpful WSO content, here are some exit options for someone working at a rating agency, particularly in public finance:

1. Investment Banking (IB):

   • Structured Finance: Your experience in public finance can be valuable for roles in structured finance within investment banking.
   • LevFin (Leveraged Finance): Transitioning to leveraged finance at a bulge bracket bank is a common exit route.

2. Buy-Side Opportunities:

   • Direct Lending Shops: Particularly those focused on high yield or acquisition finance.
   • Credit Hedge Funds: Your analytical skills and experience with credit analysis can be a strong fit here.
   • Private Equity (PE): Some mid-market PE shops value the credit analysis background.

3. Equity Research:

   • This is a logical next step, especially if you have a strong foundation in financial modeling and analysis.

4. Industry Roles:

   • Corporate Finance: Transitioning to a corporate finance role within a company, leveraging your credit analysis skills.
   • Investor Relations: Companies often seek individuals with a strong understanding of credit markets and financial analysis.

5. Public Finance Verticals:

   • P3 (Public-Private Partnerships): This vertical offers exposure to traditional modeling and can be a good exit option.
   • Transportation and Healthcare: These sectors within public finance might provide greater exposure to transferable skills for PE or traditional IB roles.

6. Other Finance Roles:

   • Buy-Side Bond Investing: Your experience with credit ratings and public finance can be valuable for roles in bond investing.

These options leverage the skills and experience you've gained at a rating agency, particularly in public finance, and can provide a pathway to various high finance roles.

Sources: Public Finance best verticals for exit opps, Exit options for a girl (Assoc) in PE?, Q&A: Big 3 Ratings Agency, Global Credit Rating Agency ---> Backdoor to High Finance, What are some exit options for S&T Associates in FI/Rates?