Confused on specific Career

Hi everyone,

I’m a sophomore majoring in CS and Finance at a non-target, and I’m interested in pursuing a career in structured finance / credit (ABS, CLOs, structured credit), rather than traditional IB.

My main goal is to land a junior-year Summer internship in structured finance or a closely related credit role (NYC). I’m currently trying to understand both how to break in and what the long-term career looks like, and would really appreciate insight from those with experience in the space.

Specifically, I’m hoping to learn more about:

The best feeder roles before junior summer (e.g. ratings, credit risk, co-ops, custody banks, etc.)

Whether starting at a rating agency (Moody’s / S&P / Fitch) is a strong and realistic path into structured finance or private credit, especially coming from a non-target

What the day-to-day work actually looks like in structured finance vs credit ratings (modeling vs writing vs deal exposure)

Typical exit opportunities from each path (banks, CLO desks, private credit, buy-side)

Compensation and promotion progression (analyst → associate → VP) and how ratings compares to structured finance

What technical skills matter most beyond basic DCF/LBO knowledge

If anyone has gone through a similar path or has advice on recruiting timelines, preparation, or common mistakes for non-targets, I’d really appreciate your perspective.

Thanks in advance.