what are the prospects of moving as a credit analyst from a major rating agency to a buy side firm specializing in FI?
your prospects are better than someone in ops trying to get into buyside equity research.
you possses alot of good skills.
are you the lead analyst?
I am not in the FI world, only the equity world but my impression is people are still biased against the rating agencies after the 2008 debacle. There is a huge amount of snobbery on Wall Street. My guess is you probably have good skills, so the bigger challenge will be finding a manager you connect with who is willing to help you make the transition. If you are in Boston (I think) then you are fortunate and have many good choices to work with such as Fidelity, Wellington, etc. Actually other than NYC, Boston is probably the best city for that transition.
Networking heavily and having a laser focus on any relevant job apps that come up is your best bet in making the transition. I would start aggressively reaching out on LinkedIn to any alums in relevant positions and/or just contacting anyone at the firms you are interested in. It’s a numbers game but if you have a decent resume you will get some responses, and after that it’s luck and your ability to demonstrate real skills that will close it. Good luck.
I’ve never looked for a job on LinkedIn but I have had a very high response rate just reaching out to random people and writing a custom note on the connect option. Most people will accept and write me back. I would recommend doing that evenings / weekends as a decent place to start.
Thanks Bro - im currently in a very comfortable, well paid position in financial sales. As of now my main priority is passing l3 so all my free time is dedicated to that. Once this test is completed, and past (knock on wood), i will strongly consider the age old theme of what i would like to do with my life. I have very good connections currently to the rating side so as a means to break into the buyside, this was one idea i had.
I am in boston and i do plan on networking with the bsas really soon
Yeah I would use LinkedIn and find all recruiters for any of the big Boston firms and ask if you can connect and discuss any opportunities. I actually reached out to a couple of people from Fidelity in that role – not because I’m in Boston but they happened to go to the same school I went to and connected me to a few other alums I wanted to reach. Results will vary, it’s just a number’s game.
Good luck in your search and with L3, keep us updated.
I am not sure how common it is, but it is very doable.
Source: Just did it myself. PM me if you have any questions.