Exit opportunities for Rating analyst position in Insurance at the top 3 CRA (Credit Rating Agencies) in Europe

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#1

Hi,

I am wondering about the possible exit opportunities after working as a rating analyst for Big 3 CRA in the Insurance practice in Europe. One obvious change is going directly to work for the insurance company. Which positions at the insurance companies could be the most attractive?

Are there any other opportunities besides insurance companies?

#2

It would be a good transition into some sort of credit risk role within portfolio Managment at a insurance company.

#3

Hi as somebody who has worked in one of the big 3 in insurance I can tell you exit opportunities are ‘ok’.

If you want to work for a bank when you come out…you can…but it may be hard to go in at a good level - unless the role has some sort of insurance aspect to it. Obviously depends what you want to do, I have worked in banks and insurance companies on the corporate finance side. Personally I want to stay in banking now, my opinion is that the overall level of intelligence is far higher in banks.

If you work for an insurance company opportunities to perform credit analysis or interesting research exist but are less well paid and in smaller teams. Investment teams in most insurance companies outsource a ton of work and in my experience perform mundane duties.

Final point is that you can do whatever you want when you exit, I’ve had interviews for a range of jobs in totally different sectors. Oh and if you can get in with a big 4 accoutancy firm take it 100% exit opps are far better. Good luck.

#4

Thanks a lot for the answers! Have 3 other questions.

  1. Actually, my understanding is that after the Big 3 (CRA) experience exit opportunities should be better comparing to ones after big 4 companies. Could you please elaborate a bit more here? For example, comparing M&A FIG practice at Big 4 and rating analyst position at big 3 CRA? Interesting is also to compare Business modelling department at Big 4 vs rating analyst position at Big 3? Thoughts from other people who worked at Big 4 or Big 3 are very welcomed! 2) Is there any sense in doing CFA when working for the insurance practice at Big 3? In CFA there is practically nothing useful when working in Insurance or FIG at Big 3… Most probably it will be an advantage when switching to asset management or credit risk role to insurance or bank after though. 3) Is it common to switch between departments at Big 3? For example from insurance to FIG? or from FIG to corporate ratings? What are the possible pitfalls here? How much time normally will you lose in terms of career development when doing such a change?
#5
  1. Actually, my understanding is that after the Big 3 (CRA) experience exit opportunities should be better comparing to ones after big 4 companies. Could you please elaborate a bit more here?

From what I’ve read on efinance stuff is that accountants have better exit ops than charterholders, more job opps stat accountant wanted rather than CFA. Putting PWC or KPMG on your CV is almost like a badge of honour.

  1. Is there any sense in doing CFA when working for the insurance practice at Big 3? In CFA there is practically nothing useful when working in Insurance or FIG at Big 3… Most probably it will be an advantage when switching to asset management or credit risk role to insurance or bank after though.

In my experience not alot of people know about the CFA in insurance companies, not valued that much.

  1. Is it common to switch between departments at Big 3? For example from insurance to FIG? or from FIG to corporate ratings? What are the possible pitfalls here? How much time normally will you lose in terms of career development when doing such a change?

Yeah people do it, but wouldn’t go in expecting to change for atleast 2 years

#6

Accountants are needed at almost every company. But that’s like saying “HR has better exit ops than M&A because there are more exit ops”. No regard is shown to the quality/salary/social hierarchy of that “exit op”.

An accountant will always be an account - very hard to break into the front office from there especially after a few years. I guess their grail is CFO. Front office guys are an entirely different thing - yes, probably less exit ops because their work is more particular to a certain field/sector however in terms of career trajectory, compensation and social hierarchy there is no question which career path is superior.

I know we are comparing accountants to raings people here but I’m just saying above argument from efinancial careers is useless.

FYI - there are a lot more jobs for public toilet cleaners than there are for bankers.

#7

I agree with “hhcave” that it is absurd to measure the exit opportunities based only on the amount of vacancies. Are there any thoughts regarding the questions raised above?