Corporate banking is probably the better bet here, but private credit or other buy-side credit roles are not that likely from either one. However, corporate banking to IB is more feasible than a CRA to IB.

– First offer is a credit ratings analyst on the Corporates team at S&P / Moody’s
-Second offer is a Corporate Banking Analyst at a tier 2/3 big bank.

Thanks so much in advance!

Yes because those are small differences, and corporate banking offers more long-term benefits if you want to do anything else different/more general later.

Hi Brian,

Thanks so much for your recommendation! In terms of the two bank’s reputation, although both bank are in somewhat similar tiers (both tier 2ish), I do believe that the structured finance bank has a slightly better brand compared to the corporate banking bank. Also, the structured finance offer pays a bit more than the Corporate Banking offer.

Given the additional context here, would you still recommend going with the Corporate Banking offer?

Thanks, Brian!

I would recommend the CB offer because it’s more of a generalist skill set, and there’s no real difference in the bank reputations. CB is even attached to IB at some firms and is considered very closely related. Structured Finance is quite specialized, and you generlaly want to avoid specialized roles unless you know for sure you want to stay in them long-term.

Yes. Many corporate banking roles are close to IB, and at some banks, they’re actually combined into the same group. So if you are considering a CB roles that syndicates leveraged loans for buyouts, it’s very relevant for eventually moving into IB.

Thanks for your sharing your insights on this! I’m currently considering two different opportunities right now and wanted to hear your insights on which opportunity would give me a better chance to pivot into LevFin IB, private credit / direct lending, or maybe DCM.

1. Corporate Banking Analyst at Tier 2 large bank

2. Structured Finance Origination Analyst at Tier 2 large bank

Thanks!

How do you view about the corporate banking roles that focus on syndicating leveraged loans for buyout deals? Do you think this is a good way to gain transaction experience and be useful to move to M&A or Lev Fin team? Thanks.

Thanks. That’s a close call, but yes, I think Standard Chartered corporate banking would be slightly better because of the bank name/reputation vs. a lesser-known boutique, even if the work is a bit less relevant.