Credit analyst to DCM?
Just started as a commercial credit analyst in a BB. Basically assessing credit risk. Obviously we do modelling, although only from templates at this stage. People who stay in this role tend to either move up the ranks within credit risk or become relationship managers.
The work is interesting, I'm in a good team and the pay is pretty good. However, I can already tell that there is a limit to the skills I'm going to be developing if I stay, confirmed from what people have written on here. Becoming a relationship manager doesn't really appeal.
In about 18 months or so, I'd like to start a role in a markets facing team. I've heard that if you stay much longer, you can become pigeon-holed in credit. Given my background, I think DCM would be a somewhat natural fit - surely there's some crossover with credit skills? If anyone could confirm/deny this, present alternatives, and offer suggestions as to how to make the move I would really appreciate that.
Just a little about me: I'm a very recent graduate from a good school, with good grades. Currently studying for CFA L1, aiming to take that mid 2017. I have internships in commodity brokering (at a local boutique) and in commodity trading (at a major energy company in my home country).
Bump
develop a view of the market. understand fixed income valuation. research recent new issues and be able to speak to why they priced where they did
Appreciate the advice. Luckily I covered fixed income valuation at college, and it's covered again with my CFA studies. I'll definitely keep up with the news though.
I'm interested as to whether you think I can leverage a credit background into a DCM role, or if such a move is within the realm of possibility? We don't seem to have much contact with the DCM team at my bank, but I'm hoping to network in there somehow over the next year without seeming too desperate.
realistically i think it's a stretch. but anything is possible. it will likely come down to how well you network, and frankly, get lucky. i'd imagine most of the commercial credits you review do not issue bonds. so the differentiating factor as you network will be how well you articulate general moves in the market, what's driving interest rates, and ability to speak to some recent new issues and pricing.
Ok thank you, will keep up with the FI market.
Let's talk. I'd love to brainstorm with you. I'm a credit analyst as well probably looking to switch into DCM sometime next year. I've built a good network of guys who work in DCM at my bank and I'll be looking to leverage those connections.
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