I know this isn't an iBanking topic, specifically, but I still wanted to ask you guys if what I heard was true.
A friend of mine said that a lot of BBs don't offer credit training programs anymore b/c it's so expensive. They tend to just up the salaries of new graduating trainees. Is this true?
If not, what BBs offer credit training programs?
I ask b/c I have a good chance for a regional training program, but I would like to make a move out of where I'm at. Preferably to NYC or LA (although I hear LA isn't much of a banking city)
I believe all BB's have credit training programs, especially the one's with large balance sheets. The one I'm at does.
Yea most do. They are just 10 times shorter than they used to be.
They've gotten rid of the credit training program where I am - I work at a French bank. Apparently it's too expensive
Wells Fargo probably has the most developed credit training - its 5 consecutive months of pure credit training in one of the San Fran offices. They also pay for your housing in San Fran. Afterwards you interview internally for groups that are hiring. But its only open to newly promoted associates
what is credit training? i've never heard of it and would appreciate any insights. thanks
They teach you fundamental credit analysis for debt financing (primarily commercial, business, and real estate lending).
I'm guessing most don't advertise their programs then huh? B/c I can hardly find any info on them
All I've found are for HSBC, JPM, Citigroup, and Capital One
Would anyone from these or other banks help me shed some light on their training programs (if they exist for other banks)? It would be very appreciated
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Buy side entry to the street. Will you get the credit training (Originally Posted: 09/05/2008)
I'm about to begin looking for my 1st year MBA summer internship. So far I've been focused on sell side investment banks. My rationale being that the IB's are a good platform to get the credit training needed to expand in other directions.
However, a recent MD friend of mine recommended looking at some Mezz and PE funds.
Has anyone worked as an analyst or associate for any of these funds? Does the buy-side due dillegence give someone an equivalent level of training?
Treavor
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