People told me that credit and risk analysts or similar positions are the last to be laid off when there is a financial crisis like today(credit crunch); banks need these people and try to keep them because they are so imporant. Make sense to everyone? Is this true in banking industry? Never heard of this before.
safer than equity research if that is what you mean
Think about it, when the economy enters a downturn, probability of bankruptcy increases, businesses become increasingly risk averse to protect their existing assets.
Black Swan Wrote: ------------------------------------------------------- > Think about it, when the economy enters a > downturn, probability of bankruptcy increases, > businesses become increasingly risk averse to > protect their existing assets. So are you saying they need to handle the risk and thus need risk management or that they aren’t taking risk and thus don’t need risk management? Just come out and say what you’re trying to say. But risk management is a commodity type job unlike equity research or other “sexy” job…
I wouldn’t classify risk management as “un-sexy”… Risk management will involve the use of derivative contracts to shift that risk off the books, pretty interesting stuff
I have a friend in credit that finished school in 2002 and he has worked for 5 companies since college and always has open options in his career. He does well in his career and has really learned a ton. While it is not “sexy” has sitting on a trade desk, he takes home some nice $$$
homie Wrote: ------------------------------------------------------- > Black Swan Wrote: > -------------------------------------------------- > ----- > > Think about it, when the economy enters a > > downturn, probability of bankruptcy increases, > > businesses become increasingly risk averse to > > protect their existing assets. > > So are you saying they need to handle the risk and > thus need risk management or that they aren’t > taking risk and thus don’t need risk management? > Just come out and say what you’re trying to say. Obviously these firms have to take risks to remain in existence since return is a function of risk so that nullifies the second empty option leaving only the first. I was pretty clear the first time.
Wait a minute! Not “sexy”?! My career has always been in risk management. While you may not think that is a sexy career, I have been told numerous times that I have very attractive legs.
They are affected the same as everybody else. Fewer credit facilities/transactions mean less work for them too.
JoeyDVivre Wrote: ------------------------------------------------------- > Wait a minute! Not “sexy”?! My career has always > been in risk management. While you may not think > that is a sexy career, I have been told numerous > times that I have very attractive legs. Were these the same people calling you “Big Quant”?
Well I am a credit analyst at a big commercial bank And I can say and confirm that this job is the best stable job I ever know, because you have along relationship with the bank clients and if there are no more new commitments or new deals in- this hard times -to analyze there will always be expansion and decrease and a lot of annual update and analysis for existing clients, most of the clients will always have the credit lines available and your job will be there to.
any job in finance is inherently unstable, however, on a relative basis credit and risk are on the “more stable” side of the spectrum. I would bet they are also comped less -(there may be some subsets of risk management where this is not the case).
I dunno…depends on what good comp is. I have known some risk managers really really well who make > $500K. Edit: And are worth at least 10 times as much
soooooooooooo
JoeyDVivre Wrote: ------------------------------------------------------- > I dunno…depends on what good comp is. I have > known some risk managers really really well who > make > $500K. > > Edit: And are worth at least 10 times as much For some reason, i think you are referring to yourself.
he got you