Apr 09, 2024

What do you Credit folks think?

Recent grad - started at Big4 6 months ago in their Structured Products/Securitization advisory practice. 85k~ all in out of Florida. Went to less than stellar university with a less than stellar GPA. Had a decent number of quality internships derived from aggressive networking.

Most of my work is centered around quarterly payment verifications for CLOs and effective date tie outs as those pop up.

I know I don’t want to stay in the Big 4 for very long, severely over worked/underpaid considering the other jobs out there with long hours. Where should I be looking to exit/jump from a role like this? I want to be more aggressive with my career, (something in credit) although my academic background may hinder my options. Also, not extremely quantitative.

Thank you in advance!


Based on the most helpful WSO content, transitioning from a Big 4 structured products/securitization advisory role into a more aggressive credit role is definitely achievable, especially with your proactive approach to networking and gaining quality internships. Here are some steps and considerations for making such a move:

  1. Leverage Your Current Experience: Your current work with CLOs and payment verifications is valuable. Highlight your expertise in structured products and securitization in your resume and during interviews. This specialized knowledge can be a strong selling point for roles in credit analysis or credit funds.

  2. Networking: Continue to aggressively network, as you've done in the past. Reach out to alumni, attend industry conferences, and connect with professionals in credit roles on LinkedIn. Networking can often open doors that traditional applications cannot, especially when transitioning into a niche or competitive field.

  3. Further Education or Certifications: Consider pursuing relevant certifications such as the CFA (Chartered Financial Analyst) or CAIA (Chartered Alternative Investment Analyst) if you haven't already. These can bolster your quantitative skills and demonstrate your commitment to a career in finance, potentially offsetting concerns about your academic background.

  4. Target Credit Funds and Investment Firms: Look for opportunities in credit hedge funds, distressed debt funds, and investment firms that specialize in credit investments. Your experience in structured finance could be particularly appealing to these employers.

  5. Consider Middle Market Firms: Given your background, middle market firms might offer more opportunities for hands-on experience and rapid growth. These firms may also place a higher value on your practical experience and networking skills over academic pedigree.

  6. Prepare for Interviews: Be ready to discuss your current role in detail, including how your work impacts the broader financial picture. Also, prepare to talk about why you're interested in credit and how your skills and experiences make you a good fit for such roles.

  7. Explore Roles in Credit Analysis or Risk Management: These areas might be a good fit given your experience in structured products. Roles in credit analysis or risk management within banks or investment firms could provide a good transition point.

Remember, your aggressive networking and the quality internships you've secured demonstrate a strong work ethic and a proactive approach to your career, which are highly valued in the finance industry. Use these strengths to your advantage as you explore your next steps.

Sources: https://www.wallstreetoasis.com/forum/investment-banking/structured-finance-outlook-and-exit-opportunities?customgpt=1, Exit opps for Structured Finance/Securitization?, Advice on career and the switch into investment banking, Feel Trapped, Exit Opps From Sell-Side ER?, Debt and Structured Finance Brokerage Exit Opps

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Went to a less than stellar school with a less than stellar gpa and also started at Big 4 and am now in a LMM credit position. If you really want it, try to block out time on the weekend to grind and learn modeling/absorb all info you can about the (private?) credit industry. I think after a year of your position you could try to get into a lev fin role then after a few years of that try to work your way into a credit shop, especially if you’re good at networking. Be willing to move if you’re not in a popular location too (aka NYC).


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