Stay in SS Credit, try RX, or go back to MBB?
FT recruiting is kicking off soon, and I've been thinking a lot about what direction I want to take my career after college. Right now, I'm thinking of either staying in special sits credit, re-recruiting for RX IB, or going back to MBB.
For context, I'm an international at a large state school doing a STEM degree (so 3 years of OPT thankfully). First year summer, I went back home and worked at a large IB's distressed debt arm (mostly non-performing loans, team was a mix of portfolio management and execution/recovery). Following summer, I did a short MBB sophomore program and then worked at a startup PC shop that invests across the cap stack. This year, I also locked an offer for another special sits credit shop; we'll see how that goes.
Ultimate goal (other than getting a green card lmao) is to become an investor of some form, but not really sure of what type (distressed, vanilla PE, PC, etc., but prob not publics). I could also see myself being an operator (CEO/business owner) but I feel like that is a longer shot.
While I really like investing and the SS market is growing crazy fast, the fact that it is such a unique opportunity also makes me worried I'll get pigeonholed, which will suck if things go south and I can't get a job immediately after.
Been also thinking of trying RX IB again for the added optionality and the skillset, but that might be tough as an international. Alternatively, I sorta feel like MBB gives the most optionality out of the three/de-risks my career in exchange for the steeper uphill battle to break into investing again. I also kinda like the strategic aspect of consulting, and that could be a good skillset and network to have later on.
Would really appreciate any and all thoughts on this. Really enjoyed reading some other career-advice posts in the forum, and this would help me sanity-check what I should be doing for FT. Thanks!
Based on the most helpful WSO content, here’s a breakdown of your options and considerations:
Staying in Special Situations Credit:
Re-recruiting for RX IB:
Going Back to MBB:
Key Considerations:
Suggested Path:
Ultimately, your decision should balance your long-term goals, risk tolerance, and the visa/job market dynamics. Good luck with FT recruiting!
Sources: https://www.wallstreetoasis.com/forum/consulting/should-consultants-get-an-mba-8-scenarios-to-consider?customgpt=1, Why do MBAs seem to favor consulting over banking nowadays?, The Case for Taking a Banking Attitude to Other Industries, Q&A: Deloitte S&O -> F500 Corp. Strategy -> M7 -> MBB, Q&A: The Future/Current State of S&T - BB VP Macro Trader
Bump
bump
Appreciate the detail, but let me re-center this and kick the ball around with me a bit -
Not getting a job right away isn’t ideal, you’re clearly in tune with what progression “should” be and seem to have an idea of what you want to do.
but what exactly do you like to do? What do you want out of life?
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