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I want to change departments, is this a good idea?
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Yes, it's a good path. Credit research juniors regularly lateral to ER and even without that exit opp, it's a great position. ER can lateral to buy-side ER or you can make the move up to Asset management, or with enough experience/skill/talent you can move from ER to a hedge fund. If your goal is to end up in IB/PE, then it's not the best career path. Of course, that doesn't mean it's impossible as you can do ER for a few years>elite B-school>IB without too much difficulty. However, would stay away from the controller role if ER is your goal. As an aside, if you don't have a CFA I would start studying for the exams if ER is the goal.
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Ah, my bad. Credit analyst is still a great position and teaches out how to model (although might be dependent on geography/company?). Treasury is a great role too and more interesting than FP&A, since at the junior level, FP&A is mostly a glorified accountant role. However, if you can get through the mind-numbing working at FP&A for a while, you might be able to lateral into corp development/ER later on. Especially ER if you pass CFA lvl 2 (or better yet become a charterholder).
Any reason you are so focused on ER? There are very few spots available in ER and I would think a credit analyst position sets you up best in terms of future probability of success all things considered, even if not specifically for ER.
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I think OP said “credit analyst”. That’s a very different role from credit research analyst/associate. I would say to get a corporate finance job whether it be as a generalist, corporate development (might be difficult to get in), Treasury, or FP&A, pass CFA level 2, and then lateral into ER or credit research associate positions. It won’t be easy lateraling into research without a CFA coming from a non-traditional route this late after post-undergrad. And last but not least, network your ass off in whatever ways possible during these times.
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