LevFin career track
Is there a standard career track for LevFin the way there is for IB? If anyone could shed some light it would be much appreciated. Is MBA required/"strongly advised"?
bump also interested
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Well LevFin is in IB at BBs, so either enter as an analyst or as an associate after an MBA at most BBs.
You do get some people that lateral internally/to an other bank from Corporate Banking, Credit Risk, DCM (basically anything fixed-income related that sits in Front office). This typically happens at the Analyst-Associate level but rarely above.
Lev Fin at shops like JPM and BAML, which are top on the street will usually do 2 years as an analyst, then they can do A2A promote, or many go to PE, restructuring, hedge funds (particularly distressed funds given the HY debt/covenant knowledge gained essentially only in Lev fin or RX roles), credit funds are a HUGE exit opp and basically you make PE money but the work is less stressful, you can go to corporate development, M&A (will take more convincing that you are truly interested in this and brushing up on merger models as opposed to LBO modelling /HY debt structuring that the Lev Fin analyst is accustomed to)
Overall: anaylst to credit fund is probably the most typical given the current climate, but I think more will go to RX and distressed funds with where the economy is heading in the next few years.
Awesome, thanks for the detailed response!
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