Hi fellow monkeys,
How hard is it to get a Credit Analyst role-- Do you still have to network like IB?
Thanks!
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What kind? At a bank or ratings agency? If it's former, are you referring to credit (fixed income) research or credit risk?
rating agency or bank; credit risk.. looking for the path of least resistance.
It'll probably differ between banks and ratings agencies, but you can't expect to get any job by simply applying online, wait to hear back, and then interview. The interviewers are always going to pick those they're more familiar with.
Is there a particular reason you want to do credit over FO? If it's only because you do not want to network/put in FO-level work, I don't think you will have an easy time at all getting a credit job at a top bank.
The people who work in "MO" are still intelligent and driven - and they work hard.
I picked credit because I have heard that daily tasks are not mundane and it changes on a day to day basis. I am also a non target, 2013 graduate, 3.1 gpa..
I have been networking but it's hard. It is easier to apply; hr probably thinks its easier to deny my application too.
Most people seem to think MO analysts are unmotivated/not type A people. You forget, many of these incoming analysts want the credit job. Yes, with your resume you will have to work for the credit analyst job. At top banks, they are very smart, come from great schools and have great GPA's.
what have you been doing since graduation? likely have to shoot for commercial credit. credit risk will be tougher especially with your background.
I have been working at a financial data vendor for the past 2 years. it alot of data entry but I do look at municipal bonds official statements on a daily basis.
Bro, can you please expand on this.. what is the difference between commercial credit and credit risk? --is it smaller loans to individuals/ LLC instead of companies? Is there any difference in the skillset, exit op, and day to day?
Thank You.
Yeah it's kind of confusing and may change depending on the bank so keep that in mind. Commercial credit is basically analyzing companies (usually small to mid market) and setting up some type of loan - pretty plain vanilla lending. Avoid anything that involves credit to individuals as it's not much of a transferable skillset. I generally associate credit risk with the credit underwriting supporting a Capital Markets Group (DCM, IB, etc), though this could vary depending on the size of the bank and scope of its operations. I would argue that you learn more and receive a better experience in a cap markets role. Credit research is conducting credit analysis on corporate issuers and determining whether an issuer's bonds are fairly priced or not - fixed income.
currently working as a credit analyst, first year out of undergrad. PM me if you have any questions
Credit Analyst first day. (Originally Posted: 01/03/2013)
Hi I'm starting as a credit analyst in London next month. Can anyone on here tell me what to expect on my first day and some general information about the tasks I will be doing?
got it, thank you.
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