I was wondering what do you guys think about my current offers, I’d like to know about those job’s potential exits and career trajectory. Thanks ahead!
Credit Analyst for a large bank’s municipal portfolio helping head PMs with due diligence and financial modeling, etc.
PE analyst for a real estate + PE alternative fund;
Corporate credit analyst for one of the credit rating agencies
I’m more interested in fundamental research and equities in general so I’d like to make the switch to equities at some point. What do you guys think about the potential exits for those three roles if my end goal is to be on either sell or buyside equities or distressed debt fund? Thanks!
I’d steer away from 3 since you have better paths to research/eq in the above two. 2 is a bit focused but if it’s a good firm might be worth grabbing. 1 is a great opportunity for your end goal though but 2 is worth exploring too imo.
Thanks mk17, PE is about 4bn, but only around 1bn in the US. Can you elaborate on why I should steer away from #3? The job profile is pretty similar to what I did before as a credit analyst-financial modeling, industry analysis, etc. Thanks!
Another concern is that would taking the municipal portfolio management job pidgeon-hole me since it is a relatively niche market, how transferrable are the skills to equity or distressed debt investing?
here’s my unqualified opinion - if 3 is something that closely resembles your previous experience, you shouldn’t do it since it probably adds little benefit coming out of your mfin program (I’m assuming you’re a new grad?) Also, i have a few friends in the credit rating world and its not an obvious route to ER. It’s very much a place you can get pidgeon-holed and never get out of. That said, you do learn a lot about fixed income but you already have that knowledge so it adds little benefit to your work experience. It’s a very specific area of credit analysis, not always translatable and it suffers a perception issue for better or for worse.
You’re not wrong about the muni one now that I think about it, since you’re analyzing municpals only. The financial modeling and credit analysis is obviously good to have but you’re missing the other piece that ER loves which is capital structure. You’ll have aspects of that at the PE firm i would hope. Distressed Debt is also a niche market so you won’t have much trouble relating there. Its tough, but I’d lean to PE, probably the best experience you could get at this point.
I’ll take being pigeonholed in real estate on the buy-side over being in credit (and getting pigeonholed there, no less) all day, every day.
More enjoyable, better pay (if not now, definitely later), higher upside…I could continue, but I think you get the point. i wouldn’t even remotely consider the credit offers.
But maybe I’m biased because I’m in PE. Anyway, take it for what it’s worth.
So I’m definitely not taking the CRA job now, can anyone else pitch in on the municipal portfolio management credit analyst role in terms of exits into other areas of investing?
Am I pretty much pidgeon-holed into a very specific area of the fixed income space.
Is it transferrable to say fixed income portfolio management as a whole or to a further extend equities?
I do plan on going back for a top MBA in 2-3 years would that help me transition from fixed income side to equities? Thanks!
