BB Credit Risk vs BB S&T vs Fortune 100 Investment Analyst

Zerox's picture
Rank: Chimp | banana points 3

As the title suggests, I got three internship offers and I am split between the first two. I am worried about career prospects in S&T but work in credit seems to be a little less exciting. I am hoping to either break into research in a bank or break into a HF (Event Driven/Macro). I am leaning towards S&T but again, I would like some advice. I enjoy learning about the markets but it seems that I'll get more tangible skills from the credit risk internship.

Comments (12)

Feb 19, 2015

Credit to me at least, is very exciting. Plus, it is always easier to go from credit to equities than the other way around.

"Give me a fucking beer", Anonymous Genius

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Feb 19, 2015

Hey Joey, thanks for the reply. My concern is that I will be in a supporting role when in credit risk and S&T is FO.

Feb 19, 2015

it comes down to weather you're a fundamental or macro guy (btw macro and event driven are quite different). You're correct in that the credit risk provides more tangible skills...but only if you want to be a fundamentals guy (could be debt or equities). On the other hand S&T could offer you some opportunities to more macro type products (FX, rates, EM etc)...but you could also end up on a fundamental product on S&T. If you are totally risk averse (don't know your personal situation) I would probably lean towards credit risk as the outlook is a bit better longer term and probably easier to convert. That said I would choose the S&T option because it is a bit more prestigious- people may scoff but it is easier to get a full time interview in credit risk after doing a S&T internship but likely not the other way around. Also keep in mind what you learn from a credit risk internship can be somewhat replicated through self study (plenty of books) whereas it would be very hard to replicate working on a trading desk. Good luck

Feb 19, 2015

it comes down to weather you're a fundamental or macro guy (btw macro and event driven are quite different). You're correct in that the credit risk provides more tangible skills...but only if you want to be a fundamentals guy (could be debt or equities). On the other hand S&T could offer you some opportunities to more macro type products (FX, rates, EM etc)...but you could also end up on a fundamental product on S&T. If you are totally risk averse (don't know your personal situation) I would probably lean towards credit risk as the outlook is a bit better longer term and probably easier to convert. That said I would choose the S&T option because it is a bit more prestigious- people may scoff but it is easier to get a full time interview in credit risk after doing a S&T internship but likely not the other way around. Also keep in mind what you learn from a credit risk internship can be somewhat replicated through self study (plenty of books) whereas it would be very hard to replicate working on a trading desk. Good luck

Feb 20, 2015

Taking MO when you have a FO opportunity is not smart.

Feb 21, 2015

Very easy decision. Sales and trading will open a lot more doors. Credit risk mgmt is not a very stimulating job. Not much time now, but happy to discuss if you want to message me

Feb 21, 2015

I had a superday for CRM and an S&T offer at the same BB last year. Took S&T and didn't even do the credit superday. IMO S&T is the way to go because as others have said it's much easier to move from S&T to a role like credit risk but not the other way around.

Feb 27, 2015

Credit risk

Feb 27, 2015

depends where

Feb 28, 2015

I disagree. Even at JPM (where credit risk is supposed to be considered FO) I would take S&T over CRM. It's a much less risky decision because ultimately you can very easily get into a risk-management role from S&T if you decide you don't like being a risk-taker, but the other way around is extremely difficult.

Mar 5, 2015

Probably true, but it is a lot harder to get an S&T return offer imo and I think more banks just don't do as much FT recruiting anymore.

Mar 5, 2015

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