I'm about 2 years into a BB Capital Markets stint and recently got an offer from a leveraged lending firm (think CIT, AB Private Credit, Antares, Ares, Golub, NXT).
While I like the hours, comp and BB brand name I currently have, I really dislike my actual work and I see extremely limited options. My team does no modeling and my days are pretty much full of refreshing market slides and putting together commentary, to boot I'm not particularly interested in the sector I cover.
I recently got an offer from a leveraged lending shop and, while it seems like a good opportunity, I have some reservations. I'd like getting modeling experience and working with various companies however the comp is lower and not sure if working with more middle market firms will be a pigeon hole.
Anyone have any thoughts? Not sure if its an ideal opportunity, but feel like its better than vanilla cap markets and I can't help but feel like the longer I sit in my current seat, the harder it will be to exit.
what is the comp if you dont mind sharing
I seriously worry about the non-bank lenders, they price very aggressively and do very cusps deals.
Are you talking Direct Lending or Leveraged Loan Market? Direct Lending has seems to have kept up pretty solid returns, LL Market has been getting squeezed on pricing, but is still growing rapidly. Direct Lending is a good exit opportunity.
Congrats on the offer. Getting experience in middle market leveraged lending will not disadvantage your career going forward. It's predominantly (if not all) sponsor-driven deals.
It’s a better skill set than capital markets, which, as you’ve rightly figured out, is a solid career gig that nevertheless is deathly boring and overcompensated relative to required skills.
You sound young. This opportunity will add optionality to your career, which is what you currently lack. You have time to recover earnings.
It’s at the post-MBA level where, consulting aside, you have to focus more on making sure it’s the right work.
BB Cap Markets to Leveraged Lending Firm. Good career move? (Originally Posted: 04/19/2018)
I'm about 2 years into a BB Capital Markets stint and recently got an offer from a leveraged lending firm (think CIT, AB Private Credit, Antares, Ares, Golub, NXT).
While I like the hours, comp and BB brand name I currently have, I really dislike my actual work and I see extremely limited options. My team does no modeling and my days are pretty much full of refreshing market slides and putting together commentary, to boot I'm not particularly interested in the sector I cover.
I recently got an offer from a leveraged lending shop and, while it seems like a good opportunity, I have some reservations. I'd like getting modeling experience and working with various companies however the comp is lower and not sure if working with more middle market firms will be a pigeon hole.
Anyone have any thoughts? Not sure if its an ideal opportunity, but feel like its better than vanilla cap markets and I can't help but feel like the longer I sit in my current seat, the harder it will be to exit
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