TS (Big4) vs. Credit Risk vs. Coverage
Hi All,
I work in transaction services (TS) in a Big4 and recently got an offer for a credit risk (CR) role in a bulge-bracket (thinkGS/JPM/MS）专注于子Ig/LBO交易（没有投资组合监控，仅在交易上工作）。我计划至少要在银行/咨询中呆至少3 - 5年，但不确定我想在较小的结构中工作，例如VC/ Growth Eq. (GE)/ Private Credit or going back to Uni for a Master's to open up opportunities towards hybrid roles between finance, IT and math (e.g.VC/GE focusing on Tech, data science focusing on start-up business/marketing strategies,hedge fundportfolios etc.). Whilst the CR role offers c.40% more than in TS (incl. bonuses), in my view it tends to offer less exit opportunities inVC/ GE/ PC because it'S MO角色，但它是topBB和covers LevFin交易。另一方面，TS非常技术性，但我无法评估学到的技能是否适合VC/HF.
On top of this I received another offer from a tier2 bank for aFO保险(企业银行)的作用(主要是搞笑的交易), just mentioning it because it pays c.100% more than in TS (incl. bonuses), but in my view it'd only make sense if I wanted to go directly for the Master's and update my CV (i.e.VC/GE would be unreachable otherwise);
I am still indecisive between these three options (staying in TS vs. moving to CR or Coverage), and would quite appreciate to have your thoughts; of note, all the roles stated above are in Europe.
非常感谢
Comments (3)
My gf was in CR at one of the mentioned firms, afaik CR can be somewhat different betweenGS/JPM/MS，因此很高兴知道您有哪些报价。总体认为，由于薪酬和退出OPPS的较高，但不确定与覆盖范围相比，它将比B4的TS更好。除非你有JPMCR, I would prob go with Tier 2 cov assuming you meanCS或者DBas you have more modelling and client exposure.
优点：
Lots of volume (Acquisition and Leveraged Financedeals)
Good senior exposure
Fair bit of modelling although depends on teams and it is mainlyLBO
随着您在一笔交易中的广泛工作，更多地接触不同的债务交易，例如只是信贷备忘录和IC的一部分。
Cons:
MO角色与覆盖范围相比，EXT OPPS更有限，尽管退出机会IBD如果您在GS/JPM
Base pay can be lower than coverage if you are not atJPMwhere it is considered moreFOthan traditional MO
Less focus on commercial aspects of the deal and overall less modelling opportunities
较少或没有客户曝光
Ex big 4 here. If your end goal is to end up买一面take theFO尽快角色。如果您扮演MO角色，您可能会在脚上射击自己，并将您的简历锁定。您可以随时从Tier2银行跳到BB一段时间后，但是除了中间或back office.
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