Feedback on career path
Hey all, this is my first time posting so I apologize if this isn't the correct forum (I figured this area would receive the most views).
I was contemplating a potential job offer as a credit analyst (which in 2-3 yrs would lead to a comm. lender role). I am currently in an asset recovery/workout group for another comm. lender (struggling comp) and have been here for a yr. Just curious as to which path you think would be a better career choice (regarding better exp, tools, exit opps).
Thanks in advanced.
I think either is good for the long run as long you're building the right relationships on the lending side and with your syndicates. If you want to head into restructuring/distressed investing, having a good lending network is one asset that is indispensable.
The recovery/workout sounds more interesting than credit analyst from a technical point of view. (especially for restructuring/distressed investing) But then I know nothing about commercial banking.
thanks for the feedback guys. any other helpful input? i have heard that the workout group is more prestigious but i have received no real training. with the new offer as a credit analyst they would have a structured training program. thoughts?
Honestly, dont waste your time thinking about prestigious. It does you no good when your working long hours. I'd try to talk to an associate or someone there and see what they are doing specifically. With that said, you cant go wrong either way. it might depends on other factors: location, pay, team structure, even if you like the team members.
thanks for the input. most of the associates have actually left to other jobs (note: uncertain future of comp/struggling)
From what i know, they (associates) seem to basically do the same thing as analysts.
fwiw the new offer would be paying me less =X
Leaving your job is taking a risk. If it pays less there needs to be a very good reason to go there. I think your current job would have better exit ops as its more technical.
What is the point in leaving for the other one? Unless there is a very good reason, stay where you are.
the bank i would be joining would be "stabler" in a sense. my current situation is quite uncertain, as well as any type of promotion/career track at my current job.
Before getting an IBD job, I was talking to a lot of MDs in MM PE about eventually getting in to MM PE. They all said if I couldn't get a banking job, to seek out workout groups, and then credit analyst positions (so workout>credit analyst, in their eyes).
Can you give us a ballpark on what firm the workout group is at, and what firm the credit analyst position is at? A BAML credit analyst position is probably > a US Bank workout group, for example.
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