| Topic Name: |
Breaking into Commercial Banking |
| Message Name: |
Hey Vin,
I am in |
| Date Posted: |
01/28/2000 |
| In Reply To: |
I am relocating to New York and am interested in the commercial banking industry. I as of yet do not have an MBA(but will soon pursue one), but I have overseas experience in business development and consulting and real estate experience. Would I be eliglbe for any entry level positions or do I absolutly have to have the MBA to be considered for credit analyst positions. Would appreciate some input |
| Message: |
Hey Vin,
I am in Commerical Banking as a credit analyst now with a regional bank in CT. I just graduated in may from a state school with a BA in finance and have been here for about 7 months. You don't by any means need an MBA even for the larger houses. Chase and Fleet both recruit for their commercial credit analyst jobs at my school. What I would tell you is that if you want to get experience in financial analysis that would be pretty much universally marketable then commercial credit training is your ticket. However, once you finish that training, they will try to move you on to be a junior loan officer which is nothing but a glorified sales job.
I always thought that companies came to you but its the other way around, every company from small to huge has at least ten bankers banging down their door to do business with them, and if they dont there is something wrong with that company.
THe long and short of it is that being a credit analyst is a good way to move you into better jobs (ie Fixed Income analysis, may be equity analysis, investment banking ect..).
If you do take a job as a credit analyst, which I would still recommend doing, make sure that it is with a large institution such as Chase, Citibank, FleetBoston, ect, because if you do decide to take your skills and apply them in a different capacity these institutions are diversified enough for you to move in house.
Mark
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