Retail Banking Credit Analysis/Underwriting Advice?
Hello, I’m Lulz and I have a question regarding the best way to break into retail banking and credit analysis/underwriting(or at least ways to stand out from other applicants). I’m going to be honest, I did pretty bad at a non target college,especially freshman year. I have a 2.9 GPA with a semester to go, no relevant financial internship experience(I had to take summer classes to graduate on time) And when it comes to desired career paths, I’m realistic about my opportunities; there is probably no way I’m getting into desired careers such as hedge funds/investment banking right now and I’m okay with that.
Honestly though, I feel that I have matured greatly from freshman year and I can succeed in any position from here on out. Areas that I think I would enjoy are I am interested in are underwriting/credit analysis in the retail banking industry. What would be the best way to break in considering I have a really low GPA? I have tried applying via various websites( which I know isn’t the best way, but I do not have contact info from anyone who works in this industry. Also are there programs that teach credit analysis/ underwriting basics so I can have some form of an advantage (akin to financial modeling programs from BIWS) or anything else I can do to get an advantage?
If not, would you be willing to point me in the right direction for advice? I tried searching and couldn't find much(probably because this site is not primarily focused on the retail/commercial banking side.)
Thanks for your help!
Bump.
Also I happened to run into a friend of a friend who is in the hedge fund industry. Out of curiosity, would I be automatically blacklisted for an internship/opportunity even if I would work for free and do mundane stuff like getting coffee or making copies? Because he gave me names of some local firms but I don't know if they would give me the time of day to do even stuff like that.
Thank you once again.
With the job market like it is, it's going to be very hard to break into credit analysis/underwriting, especially with mediocre grades and no relevant experience. Despite what some people might think here, it's actually a great career path. However, I just don't really see how you're going to break in without networking your way in. My only other suggestion is use the force of numbers--apply, apply and apply more and you might get lucky with someone willing to bring you in for an interview.
Let me also add that there aren't a ton of entry-level underwriting positions in any given geographic market.
Thanks VTech, I know the odds are stacked against me and I have a long way to go, but I'm prepared for that.
Would anybody know of classes/programs I can take to become proficient in credit analysis? Also is credit underwriting close to the same thing as the work a consumer/commercial loan officer at a mom and pop bank would do?
Risk managent association has credit and business analyst classes.
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