Is it worth moving to NYC for this?
Little background on me: just graduated from state college in December, recruited into WF’s MMB FA program. Live and work in LA. Completely bored of this job and looking to break into LevFin. I got an offer to join Citi as a Global Leveraged Portfolio Group Analyst (which I know does not make me a traditional LevFin analyst but more so a credit risk analyst).
My question is; is it worth moving to NYC for this? Can I lateral over to LevFin with the skills I’ll earn in this role (I’d be modeling)? I see so much Citi hate it’s making me question taking this role. In my limited experience it all seems direct report dependent. Idk. You guys make me question myself a lot.
How much traction are you getting from Lev Fin jobs? I wouldn't expect much from a FA job, especially with ~6mo experience.
Citi get a ton of hate, some is deserved, but much of it is IB specific, and also it's just the latest meme, almost every bank has been the joke of the month at some point on this forum. One thing that Citi is REALLY good at that's important to you is internal mobility - big push to get internal candidates for job openings. Do 1 year in the credit risk spot and you will absolutely be given a chance to interview for Lev Fin or anywhere else in the bank of interest. If you hate Citi, do a year or two in Lev Fin and move to your bank of choice.
IMO take the job. Might be tight salary wise for a while, NYC is wild expensive, so find a roommate or three. But this seems like a good next step from where you are.
Ok great, thank you very much. I’m new to WSO so unaware of the meme aspect of it. I am generally confused as to the difference between credit risk analyst and LevFin analyst? We both model (is the modeling the same) as far as I can tell. Is the only difference origination?
Not extraordinarily familiar with credit risk, do a search on here for more info - the modeling isn't exactly the same but still good technical knowledge gained that is relevant enough for lev fin. Honestly credit risk is a pretty solid job with decent pay for the low hours, lots of people stick around there for their career.
Look up Citi Revlon for something interesting close to the credit risk side... don't mention in interviews as it's a total embarrassment for Citi, but you're basically trying to avoid the situation in which the company defaults and you're stuck holding a bad loan (perhaps not the accidental payment part, but the rest is an interesting read heading into credit risk)
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