Credit in Budapest or Buy side in Greece
Hello lovely monkeys!
I am working currently in a BB in Budapest as a Credit Analyst. I have the chance to go back to my country in Greece as a Portfolio Management - Fixed Income in a greek big bank under their asset management division. In terms of career perspective what you think would be wise to do? The pay would be 50% higher and will be bayside and to be honest I don't want to stay in credit for a long time! The disadvantage is that I am leaving a big name (I am here 2 years). My goal is one day work in London. PM will give me solid skills and also will rotate between Greek equities and multi-fund. Do you think that while its bad having Budapest in your cv going back to Greece will end my career?
On a side note - do you need to know Hungarian to work in Budapest? I’m aware that a lot of internationals only speak English in consulting but not sure about the finance sector.
its quite the opposite to be honest. MS, Citi, Blackrock they hire many international people.
If you want to make the jump to London without an MBA your best bet is probably through an internal transfer which might be possible in the BB you are currently working at. I don’t think any one outside of Greece is familiar of the 4 major Greek banks so that might be a drawback. Take what I said with a grain of salt though as I’m not in this particular industry.
Would suggest an internal move if your goal is London! Opps from there would be endless providing you can network- and would say Credit is one of the better teams!
The real question is, what is the top prio, London or getting out of credit? If you manage to transfer, as suggested above, you will again work in credit and will have to stay for 1-2 years before even considering something else. And then what — another transfer within the same bank? Not sure that will fly,.. so you kicked the can down the road, but by now you have a solid credit background and no experience to suggest otherwise to a London-based alternative.
The other bank may be less well-known, but you get to check another desk and move to your country (at least for a while), which seems to be better for you than Hungary.
Also don’t forget the standing of Hungary and political headwinds ahead in light of their political leadership — to me, Hungary is not investable for top PE and Greece certainly is, especially in credit, ironically.
Would just consider it from the standpoint of what you would prefer to do for the next few years and take it from there, but just my two cents… saw crazier things happen than “no name” to BB/EB and being pigeonholed in something you don’t want to do is perhaps not worth it — but a lot of sense in the internal transfer comment above (albeit that being credit). Hope that helps a little bit…
Appreciate your comment! To be honest, i don’t wanna stay too much in credit. While you get some valuable skills overall i think it can pigeonhole you and you need at least 4-5 years to move to something better. Also i am 28 already, I was thinking of an MBA but i would need to save some money till my 31-32 and then i would be too old. So as the time goes i think that my career is done in terms of front office and London, but i guess that’s life…
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