US Associate Program @ Credit Agricole-CIB

Does anyone have any insight on this program and the potential exit opps that come with it? The posts that I've seen on WSO are kind of older and it seems this program has become better since those initial posts. Thanks in advance!

Comments (17)

 
  • Operations Analyst in CorpDev
Dec 13, 2020 - 6:18pm

Sorry, I can't mention the group cause its a fairly small team that I'm interviewing with currently! Just interested in what some of the exit ops are in this program since its supposed to last only 2 years and then you have to find another full-time gig by then. Also curious about their reputation on the street given they are the 10th largest bank in the world.

 
  • VP in IB - DCM
Dec 15, 2020 - 1:11am

The US Associate position is the same as an Analyst position elsewhere on the street - placement after the 2yrs is subject to performance and headcount. Ive seen US Associates get converted much quicker as well.

French banks are stronger on fixed income side so pick a product or coverage group focused on that business

 
  • Operations Analyst in CorpDev
Dec 15, 2020 - 7:05pm

Thank you so much for the insight! I didn't realize it was the same as analyst level on the street, which is really good! The group is in a major city, but in the long term I want to leverage my time their (if I end up getting an offer) into a position in NYC. I would be leaving a more operational full-time role that I have been at for almost 2 years out of undergrad (yeah I know I'm a little late to the game) in the coverage group's industry. I have been applying/interviewing like crazy to get into IB, so wondering if this would be a good entry point for me with the skills and networking I could build here. Do you know anything about pay structure, reputation, or exit opps from here (US Associate Program)?

 
Dec 15, 2020 - 8:07pm

I'm very familiar with this program. You're not technically a full time employee, and are on a two year contract. I don't know the base but from what I remember your bonus is capped at like 20k (it might be lower, I don't remember. I'm sure there're many disgruntled people on linkedin that would give you this information. Check glassdoor too), so it'll be frustrating if you work long hours and only get compensated with 20k. I think the raise is really pitiful to, you'll be paid the same salary for two years.

Don't buy into the conversion into a full-time role. Credit Agricole and Societe Generale run on interns and people in these programs. Towards the end of your first year they'll probably hire somebody else and try to get them up to speed to have someone do your job after your contract ends. If you do get this job, look to lateral 6 months after your start day. 

In terms of reputation it's definitely not a bad place to start. Some groups like aircraft financing and others within fixed income are top tier.

Array
 
Jan 14, 2021 - 12:33am

I worked on this exact team for a very similar Euro bank. You must be referring to this job posting . Yes the role is good. I turned out to do alright I think.

Credit Agricole (CACIB) - U.S. Associate - Loan Origination Support (NYC)

-it's worded poorly, but on the street it would be characterized as this, 

  • Credit Agricole (CACIB) - 1st Yr Analyst - Loan Syndication
    or,  like this:
  • Soc Gen - 1st Year Analyst - Loan Capital Markets & Syndicate (SG used to call it Loan Syndication)
  • Jefferies - Leveraged Finance Capital Markets
  • TD  - Syndicated & Leveraged Finance  (altho this is  more Lev Fin-like)
  • JPM - Regional Syndicated & Leveraged Finance
  • Natixis - Leveraged Capital Markets
  • SMBC - Loan Capital Markets

Job Description below

About the job

  • Crédit Agricole Corporate and Investment Bank ("CACIB") is the corporate and investment banking arm of the Crédit Agricole Group. CACIB's Loan Syndications Group Americas (internally known as the Debt Optimization and Distribution ("DOD")) is based in New York and originates, structures, and distributes syndicated loans and bilateral facilities for the Americas. Furthermore, the Group acts as a primary underwriter and is active in the secondary markets to provide liquidity to investors.
  • The Group is seeking a recent graduate that has some experience in the Financial Industry. This US Associate position will provide support to the DOD Loan Originations Support team members and management.  

Key Responsibilities:

  • Assist in preparation of presentation materials for pipeline committee members including the preparation of business opportunity memorandum
  • Maintenance of databases of loan portfolio
  • Analysis of loan profitability expectation and results
  • Preparation of internal reporting
  • Review of legal documentation and post-closing analysis
  • Preparation of Closing Memos
  • Assist the booking and monitoring of new transactions or waivers
  • Work with other DOD team members, credit, legal, relationship managers, operations and senior management to ensure the timely and accurate information gathering and analysis

2 Year Thing - to Clarify

  • Also to clarify the 2 year thing - it's not accurate here. You are a 1st year analyst (say 1Y: $70,000 + $10,000 sign-on bonus (maybe), then promoted to 2Y: $80,000 salary, After 2 years, it goes to promotion committee, and you become a 3Y analyst: $90,000. The bigger promotion committee is after that 3rd year to Associate, it's more official and discussions are serous for that. Full time interns - yes, Credit Ag & SG hire, called "VIEs" (full-time interns, typically sourced from Europe to work in NYC). They would specifically mention it's a VIE bc there's VIE criteria to be eligible. 

Happy to help on this specific group

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January 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (31) $349
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