What's Next after MF Credit

Hi, I recently accepted a SA offer for a MF's Private Credit Group and I was wondering what is next. Should I just try climbing the ladder of PC at the firm? Will I get bored of the work? I know that PC offers good WLB (bonus to me) for really good comp at the MF level but the idea of working in one job in one place for the rest of my life seems a little scary. I know that with this junior SA experience, I will probably be able to get interviews at most top places, so should I try re-recruiting for FT for PE or IB?

I am sure that many on this forum went through these thoughts so i am wondering how it turned out and maybe some of the career choices yall made. How did it turn out?

Comments (16)

  • Associate 1 in AM - FI

In the case that you are, can't speak about the IB route, but if you were to join out of undergrad to a FT position in illiquid credit, it is a great seat to learn credit, industry analysis, and doc assessment, but be I'd be mindful to be caught up too much in how dealsy the role is. Imho public credit markets are a lot of fun, and very achievable after 2 years of rigorous technical training at a MF credit arm. 

  • Intern in PE - LBOs

OP, what city is your internship in?

  • Associate 1 in PE - LBOs

Why don't you start by focusing on not getting fired from your MF PC job first

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  • Associate 1 in PE - Other

I mean, the first step is definitely to see if you like the role. That means working really hard during the internship and trying to get as good at the work as you can. I know that recruiting for FT roles for PE and IB often coincides with the summer internship, but you're gonna feel like an idiot if you spend your time during your internship recruiting for other FT roles, then end up not getting a return offer for MF PC because you weren't as focused as you should have been and then realizing you would have preferred that all along.

The other thing to realize is that you are definitely not stuck in MF PC after two years as an analyst, assuming you're lucky enough to get a return offer from the internship and you take it. Thinking about spending the rest of your life at one firm before you've even had your internship there is silly for a number of reasons, but the biggest one is that you have tons of optionality after a couple years there to exit to something else. MF PC analysts (depending a bit on the specific firm; more investing up and down cap stack like at Bain Cap Credit or BX Tac Opps will give you more flexibility) exit to credit/distressed HFs, PE, AM in fixed income, tech start ups (less common but I've seen it), etc. So if you start as an analyst at MF PC, it's not like you're set on a rigid path to still be at the firm when you're 55. You actually probably WONT still be there because there isn't room for you to advance, so you have to go somewhere else.

It's obviously super stressful trying to figure out the exact right path, but I'd advise you to relax a bit about planning for the long term and focus on getting prepared for your internship. MF PC is a sick place to start right after undergrad, so count your blessings and work as hard as you can at it before trying to figure out how to leave.

  • 7
  • Prospect in PE - Other

Thank u so much for the advice! This makes a lot of sense and I really appreciate it. I am def counting my blessings, will grind, and see where the wind takes me. Definitely some stress about the idea of leaving the structured life of college into the real world but look forward to it at the same time. 

  • Associate 1 in PE - Other

All the best luck to you. To land the role you did, you've done a great job so far. Keep it up and you'll figure out soon enough where you fit in best in the finance world

  • Associate 2 in IB - Cov

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