Hey everyone- I have done some reading over the past couple months regarding a change in careers. I would really appreciate feedback as I have been really thinking about starting the process of trying to break into ER.
My history- I have worked at a Commercial bank for 6 months as a credit analyst. It is my first career job (graduated May '14) from a non-target. I work 40 hours a week and the pay is nothing to write home about. I really enjoy credit lending but I am looking to get into ER because I am passionate about the stock market and want to work more than 40 hours a week (and get paid more). 80% of the reason I want to transition is because of what the job entails and 20% for the pay.
Resume Highlights:
Credit Analyst for 6 months
2 internships at a REIT (did not learn much, it was basically small tasks for the president of the REIT)
Won the School of Business Research prize for $800- the project was identifying risk levels of different market sectors
I represented the student body on the University Planning and Budget Committee
Deans list the last three semesters
Two things that I know would help my chances would be to pass the CFA (at least level 1)- Not sure if all three are required
Learn financial modeling
I do not have an MBA and graduated from an extreme Non-Target. What do you guys think are my chances are at breaking in. What else would be essential to have on my resume? Any thoughts would be much appreciated!
Why equity? Plenty of opportunities that pay well in credit. You may need to take small steps given that your starting point is from a comm bank.
TD12 could you please elaborate?
Thanks for the responses
Consider debt research. Also consider becoming a trading assistant and moving into trading. There are other options outside equity research. With your credit analyst background, you can leverage into debt research or s&t.
Not much elaboration necessary in my opinion, look up credit research, plenty of threads about it - what you do in commercial debt underwriting sounds like it'd be a good bridge. Sell side and buyside firms both have debt research roles.
To the extent you're not interested in fixed income research and want to do ER (you mentioned passion in stocks), I think that'll be a very difficult transition without significant networking/some luck or going through business school.
I agree with gutshot. You should aim for trading via a trading assistant role! Also, consider debt research at a sellside or buyside firm.
If youre not looking to go back for your MBA, you will definitely need your CFA (or be in the process) to get a look for ER roles.
Your background would align more with credit risk management side of things- not really your traditional FO role. And the market for debt analyst & credit research is relatively crowded with much more competition.
Your best bet to get into any of these research type roles would be ratings agencies or independent research providers (CreditSights, Debtwire, etc.)
Agree with looking into credit research roles. My point is non-target + credit analyst at small bank may be a tough transition into B/S or S/S research roles. Maybe look into credit risk or credit at a better known bank as a stepping stone.
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