Citi Capital Markets vs Morgan Stanley Credit Risk
Hi Everyone,
I am looking at two options for an undergraduate summer internship: Capital Markets Origination at Citi and Credit Risk at Morgan Stanley. I know they are totally different roles so my decision should largely be based on my person preference but I'm still working those preferences out.
Does anyone have any experience with or knowledge of either group? Citi's CMO group is a little unique in that it is outside of IBD and seems a bit removed from the technical work of IBD.
Any input on either group would be greatly appreciated.
Thanks so much
my opinion: if you want to do banking then get as close to banking as possible - that is CMO. Credit risk can have a lot of different areas, and probably won't really develop the deep technical skills that you may think over just 1 summer.
Is it market credit risk or KYC credit?
Even if you are not doing banking-type work, it will come across much closer to banking on a resume in the future.
Think of it this way - if it was CMO at Citi vs. Credit Risk at Citi, which one would you pick? I understand that it is difficult to turn down MS, but I would only take the bank into consideration if these two were farther apart in terms of brand - but Citi is still a great BB, so I wouldn't factor that in.
I was never considering banking. Citi's CMO program was actually the closest that my applications got to banking. I feel more drawn to research / asset management positions. Credit risk seems to have a more research feel while CMO seems to be like a more appropriate preparation towards asset management. (I would think)
MS credit risk is not market risk, so it would be more KYC work. They do due diligence on companies and give them internal credit ratings on their likelihood to pay back debt. I thought that could be an interesting internship if I wanted to do fixed income investing later on. So you are totally right; it's really hard to think about turning down MS. But, I feel like I still have a difficult decision without factoring in brand name. I will definitely take that all into heavy consideration wannabe, thank you.
CMO for sure. Not even close ... AT ALL.
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