Trainee-Credit analyst

Hi all, I m a CFA level 3 candidate having an offer as trainee-credit analyst.just wanted to know should i accept it or wait for a job in equity research(which I never got in 6 months) just wanting to know the career prospects of both and what u would have preferred and why?

The best job offer is the one you already have…

what’s your background? because equity research is very tough to break into these days

Is it high yield credit? To understand credit, especially in high yield, you need to know what’s happening to the equity part of the company, because when that runs out, you start getting nasty haircuts. So high yield credit analysis is like equity analysis with credit consequences. (It’s true that the credit piece also has liquidity analysis - is there enough cash to make current P&I payments).

problably at a commercial bank making commercial loans.

What’s the company (general, no names. Commercial bank?) and your experience? I’ve posted this before but most people value credit experience and it seems best to knock it out of the way early. Since this is a CFA forum I’m assuming Corporate Finance IBD is not your target. If it is, credit analyst at a commercial bank will not help you. Also “trainee” programs are really good right now because at a lot of banks you’re budgeted already and protected from being laid off. That gives you a year or two to network with impunity. downside is your bonus will probably be garbage as long as you have the “trainee” designation, but if you’re starting mid-year then your first bonus will likely be garbage anyway. Not that you deserve a stub for missing January, but any excuse…

The job is like doing financial statement analysis (Ratio analysis) and putting into a business model which comes up with a credit rating for the counterparty. The company is a risk management firm.

Please i need some input!!!

If you can afford to keep looking for your ideal job, then hold out. But, it is hard to imagine turning down a job offer “in THIS economy” (h/t CFAvMBA). Clearly you have some reservations about the offer if you haven’t accepted/rejected at this point. Flip a coin. Heads=take the job Tails=turn it down. See if after the first flip you feel like going best 2 out of 3!