Currently an AN1 at a MM Balance sheet bank. In a group that executes and underwrites credit facilities. Getting solid modeling and financial analysis experience and many reps but the job is mundane. Is it reasonable to exit to LevFin or DCM post 2 year analyst stint? I see a lot of people go Corp Banking and Private Credit but is LevFin a realistic option?
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Based on the most helpful WSO content, transitioning from an underwriting role at a MM balance sheet bank to LevFin or DCM is a realistic option, but it may require strategic positioning. Here are some key points to consider:
Skill Alignment: Your current role provides solid modeling and financial analysis experience, which are critical skills for LevFin. Additionally, your exposure to underwriting credit facilities aligns well with the credit-focused nature of LevFin.
Challenges: LevFin roles, especially at BBs or top-tier firms, often prefer candidates with direct investment banking experience. However, your underwriting background could make you a strong candidate for MM LevFin teams or those with a focus on credit-heavy deals.
Positioning Yourself:
Alternative Exits: While LevFin is a possibility, many professionals in your position also transition to Corporate Banking, Private Credit, or even CorpDev roles. These paths might offer a smoother transition if LevFin proves challenging.
In summary, while LevFin is a realistic option, it may require extra effort in networking and positioning. If you're set on this path, focus on leveraging your underwriting experience and building connections in the LevFin space.
Sources: Joining LevFin and FSG at this point in the cycle, https://www.wallstreetoasis.com/forum/investment-banking/qa-2nd-yr-ib-analyst-australia?customgpt=1, LevFin WLB-focused Exits and Other Questions, Leveraged Finance Exit Opportunities, There is no gas left. What’s next?
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what group are u in ? underwriting can mean many dif things
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