Howdy fellow monkeys,
I recently started working for one of the Big 3 CRA's. I am definitely enjoying my job and gaining more financial statement analysis experience than I anticipated. I am curious to know what the exit opportunities are for someone with experience in credit research? Possibly 1.5 to 2 years down the road with CFA Level III proficiency?
I am obviously shooting for roles that would pay the best, given that CRA's aren't the highest paying in the industry. My knowledge suggests Credit Asset Management, Sell or Buy-side Equity Research, or Leveraged Finance.
What do you guys think?
Thanks in advance!
BUMP
Still interested to hear what you have to say.
Exit opps: Associate at CRA in CMBS/Structured Group (Originally Posted: 09/15/2017)
So I am currently an Associate at one of the "Big 4" CRAs, and one that has a particularly strong background in CRE/ABS. I am one of only a few associates in the Structred Finance/CMBS group and therefore have gotten broad exposure to good deal flow, underwriting and actual securitization structuring. I also have an opportunity to do original research and have it published, and frequently interact with bankers on our deals.
I am only a year out of school. Anyone have any insight into exit opps from a CRA in this particular niche? Anecdotally we've had associates leave for DCM groups at BBs and one left for a REPE firm. The pay at CRAs is not that good, but it is probably about the same as IB adjusted for hours.
Thoughts on HF, PE, or DCM IB probabalities?
Generally speaking it seems like IB is possible but from what I've read you'll want to make that jump ASAP. Try and get really granular with the associates who have left for DCM groups. Those guys could probably help you in a big way.
Thanks for the reply - makes sense. I've had a couple people tell me to jump after a year, 18 months max to avoid being pigeonholed as a "ratings" person. That said, the reasonable hours verses IB means I can really develop skills, possibly knock out Level I of the CFA (they will cover all fees) and network.
Credit Rating Agency Exit (Originally Posted: 12/06/2017)
Hi everyone. First post here, but have been browsing for a few years - love the forum, thanks for all your posts. I've been able to get answers to most of my q's without posting, but this one is a little more personal.
My background: just finished a PhD on a relevant topic for finance, including methodology, but my background before that was more social science based. In short I have some coding experience but I'm not a quant wiz. I've taken a good few classes and know a bit however so that has closed the gap for me. I also read a tonne and feel pretty confident about my ability to learn (happy to go over this in more detail in PMs).
I'm working at a CRA (sovereigns), soon to be a year. I am curious about the exit opportunities if I was interested in working in a more market focused environment. I'm not necessarily chasing $ but keeping my options open in terms of focus. I wouldn't be opposed to a junior position if it was a good one. I was thinking macro research or fixed income research or something like that. Of course I'm aware that my area is quite specific and there are far fewer positions. Also if anyone has any tips about what I could do to boost my profile that too would be really appreciated, in terms of skills to learn, etc.
Naturally, I would love to hear all your opinions. Also happy to answer any questions about the agency workload, etc. Also can offer some info on academic work if anyone is looking to go down that route.
Thanks for your time.
saw23, bummer your thread hasn't had a response yet. Sometimes bots are smarter than humans anyways:
More suggestions...
Fingers crossed that one of those helps you.
CRA Structured Credit Exit Opps? (Originally Posted: 06/08/2014)
Hi all,
I have been working on CLO's at a CRA and wanted to see if other members had any recommendations for exit opps (and tips on how to put myself in the best position for these). I have been working on analyzing the underlying debt investments as well as the CLO structure. Would appreciate any help and/or tips that people have.
Bump. Also interested.
Exit opportunities for CRA structured finance? (Originally Posted: 12/05/2017)
I have an offer from fitch/moody's in structured finance. I appreciate that this is a growing industry at the moment, but was concerned that it could pigeonhole me for life. May I know what the exit opportunities are?
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