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Started By
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Advice on Commercial Banking Analyst Program job hunt
Posted on 2/2/15 at 3:00 pm
Posted on 2/2/15 at 3:00 pm
I started this thread on money talk, as I thought it be the best place for it, but it doesn't get much traffic. I hesitated to start it here because I know how this place can be but even if I get just one or two helpful responses i'd be satisfied
quote:
I recently started the job search and am hoping to get on with a major bank in the commercial banking analyst program (full time job not summer internship). Have spoken to a few people I know through friends of friends, not really close contacts, and have gotten some good tips but also want to exhaust all means available to get as much info as I can to help me out.
I graduated last May from LSU's masters of finance program but put off the job search, as I had made previous commitments to help a family member out with their business, but that time is coming to an end. This past weekend I sent out a few applications for positions I found on a few banks websites, one to JPMorgan chase, capital one and in the process of filling out one for Citibank.
Just looking for any helpful tips or guidance on avenues of approach or any info about the actual programs and the process from anyone with experience or knowledge about the industry. Any useful advice would be welcome. Thanks in advance
Posted on 2/2/15 at 3:01 pm to Fearthehat0307
quote:
Analyst
Will they want you to pitch or catch?
Ask before, catching would be a deal-breaker for me.
This post was edited on 2/2/15 at 3:02 pm
Posted on 2/2/15 at 3:04 pm to soccerfüt
quote:if I got to start out catching, i'll do what I gotta do
Will they want you to pitch or catch?
Ask before, catching would be a deal-breaker for me.
Posted on 2/2/15 at 3:06 pm to Fearthehat0307
Did you try Bank of America?
Posted on 2/2/15 at 3:07 pm to Fearthehat0307
I thought we had decided on the Bloomingdales jr executive training program for you.
Posted on 2/2/15 at 3:08 pm to Fearthehat0307
Do the internship and you will land a job
Posted on 2/2/15 at 3:09 pm to Fearthehat0307
Go to Law School instead. Not nearly enough lawyers.
Good luck!
Good luck!
Posted on 2/2/15 at 3:09 pm to Fearthehat0307
I found mine on indeed.com. Got pretty lucky I guess. Large regional bank however.
Posted on 2/2/15 at 3:11 pm to c on z
quote:I did search around on their website. didn't find too much
Did you try Bank of America?
Posted on 2/2/15 at 3:12 pm to Mootsman
quote:can you elaborate a little further?
I found mine on indeed.com. Got pretty lucky I guess. Large regional bank however.
Posted on 2/2/15 at 3:13 pm to lsu480
I went through one of these programs for 7 months at Whitney Bank out of college in New Orleans. It was called the management training program back then. I don't think it's still an active program anymore but I know Iberia had one as well. But that's what you want to look for. They typically start in June and January.
Posted on 2/2/15 at 3:14 pm to GCHunter
quote:
management training program
either that or start at a shitty position and move up from there.
or if you know some people, they can get you started as a lender or something right away
Posted on 2/2/15 at 3:17 pm to Mootsman
quote:
indeed.com.
Very good place to start.
Also, don't just limit yourself to big banks. Some regional and even large community banks have formal credit training programs.
Not sure if this is still true, but often you can get a job as an admin and if you are young/work hard/get to know the right people, you can get a role as a credit analyst.
Posted on 2/2/15 at 3:19 pm to MasCervezas
It does take a good while to move up but once you get past the threshold of kinda being the grunt you get promoted pretty quickly if you are good.
Posted on 2/2/15 at 3:22 pm to ZereauxSum
quote:i'm not really all that familiar with what I am qualified for and what I should apply to. I talked with someone who is a friend of a friend, don't really know him that well, but he told me to look for a commercial banking analyst program at a major bank, as that is best for future career advancement. I don't have any internship experience, as I didn't go finance til grad school and also didn't really have time with military obligations. I was told that being a veteran would help me out and cover that area
Also, don't just limit yourself to big banks. Some regional and even large community banks have formal credit training programs.
Not sure if this is still true, but often you can get a job as an admin and if you are young/work hard/get to know the right people, you can get a role as a credit analyst.
Posted on 2/2/15 at 3:27 pm to Fearthehat0307
quote:
can you elaborate a little further?
I was working at one of the larger banks in a less significant roll. Search "Analyst" in indeeds search engine. Typically "credit analysts" work with commercial banks so that's a start. They are entry level positions. There are also several types of financial analysts which range from banks to manufacturers etc. so I would start by searching credit analyst jobs.
Posted on 2/2/15 at 3:32 pm to Fearthehat0307
Really what you want is a position that says something like "credit analyst", commercial lending training program, or something like this.
The title isn't as important as what you'll actually be doing of course. The job description should be something like "spread financial statements", put together packages for loan committee, monitor lending covenants" something like that. They usually are looking for someone with a business degree and X hours of accounting (which you likely have with an MS in finance) and a good understanding of financial statements (which you will have to demonstrate).
Just make sure you read the job descriptions carefully...all credit analysts positions aren't created equal. In my part of the bank (loss mitigation) there are "credit analysts" who basically shuffle papers all day long. Nothing wrong with that but they aren't doing anything related to lending. You don't want that type of job.
Even if you can't get an analyst position, get something in a commercial lending department, even an assistant position. Odds are that you can work your way up if the bank is large enough.
Hope this helps!
The title isn't as important as what you'll actually be doing of course. The job description should be something like "spread financial statements", put together packages for loan committee, monitor lending covenants" something like that. They usually are looking for someone with a business degree and X hours of accounting (which you likely have with an MS in finance) and a good understanding of financial statements (which you will have to demonstrate).
Just make sure you read the job descriptions carefully...all credit analysts positions aren't created equal. In my part of the bank (loss mitigation) there are "credit analysts" who basically shuffle papers all day long. Nothing wrong with that but they aren't doing anything related to lending. You don't want that type of job.
Even if you can't get an analyst position, get something in a commercial lending department, even an assistant position. Odds are that you can work your way up if the bank is large enough.
Hope this helps!
This post was edited on 2/2/15 at 3:38 pm
Posted on 2/2/15 at 3:54 pm to ZereauxSum
quote:thanks. looking up credit analyst is giving me much more job opening results.
ZereauxSum
Posted on 2/2/15 at 3:55 pm to ZereauxSum
quote:
all credit analysts positions aren't created equal.
Very true. Interviewed with Wells Fargo for a "Credit Analyst" position. It was a joke. Interviewed with the regional bank. It was a fulfilling position with 10K + higher pay. A lot of times the larger banks the job will provide a much more limited experience (co-worker used to work for BB&T and all he did was spread) while the regional banks you can gain experience in underwriting, portfolio management, etc.
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