Hi guys,
question for someone who used to or is working for some the big three rating agencies. How would you compare the compensation with IB? The working hours? Is is common to stay just for few years and then to switch for IB or something more business wise? How do IBs look at candidates with a background from rating?
Thanks!
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*How would you compare the compensation with IB? *
Glassdoor has it about right. Associate pay at a CRA is about what an analyst gets in IB. If you adjust to make it hourly, they are about the same.
*The working hours? *
CRA is way less. No weekends, you'll never work past 7 or 8...unless you have a crazy director, or you're in structured; possibly if you are in a more deal driven group, but that isn't common.
*Is is common to stay just for few years and then to switch for IB or something more business wise? *
Most people switch, but it usually isn't for IB. You'll go to internal credit group in banks. I have yet to hear of a CRA analyst moving to M&A or S&T. Some do it after business school.
How do IBs look at candidates with a background from rating?
No idea, but probably not favorably. They'll take other BB, MM and boutiques before they'll touch a CRA. Just the reality. I think structured may be a little different. The reason being is bankers usually want to do things that hurt credit ratings, and you aren't going to make any friends over there. I think debt Asset Management is a better bet. They look at things like a CRA would.
Heya!
Please could I check with you regarding structured finance - any reason why they would be working long hours? In addition, what is the exit opportunity of structured finance like?
Thanks very much!
bump
I Interned with an Associate for my SA and he came from a CRA. He hated it and came over to structured finance at a BB. Slightly longer hours and much better pay.
Depending on how you define debt AM, I would say they also tend to shy away from CRA. Maybe some boring IG manager would. Basically no one likes the rating agencies and thinks a robot can do their jobs.
Moodys comp: https://www.glassdoor.com/Salary/Moody-s-Salaries-E11303.htm I think the hours are fairly normal at these companies.
BBs have ratings advisory teams for which I assume they pluck the best of the best from CRAs. It probably depends on group, I would think a FIG group would consider someone from Fitch FIG, and a Credit research group might look at someone that covered the same companies. From CR it is very plausible to get into LevFin.
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