Question about Prudential
Has anybody worked at Prudential (Dallas specifically but anywhere would be helpful?) I am wondering how competitive the internship process is and what to expect for an investment analyst position.
I have a fund accounting internship and a credit analyst internship on my resume, but I also have a former part time job as a mutual fund rep basically doing data entry, and I was wondering how those positions would affect my chances.
I've also done the WallStreetPrep Excel, Financial Reports, and Financial Modeling programs, and participated in a conference for Asset Management at Principal Financial this summer.
Any information would be extremely helpful! I've already checked the company database and gotten some information.
If you have a reputable credit analyst internship on your resume and have participated in the programs you mentioned above, you should be in good shape for the technical aspect of the interview (which isn't very hard). Just make sure you know your basic credit metrics (debt / ebitda, interest coverage, fcf / debt, pension / lease adjustments, etc.)
That said, the "fit" aspect is also very important so make sure you take that into consideration and let your personality come through. This is probably more important than knowing 100% of the technicals
I don't know how competitive the process will be since I believe that most offices do recruiting on there own, but I'm positive it won't be as hard as BB investment banking recruiting.
The company invests in private debt, mezzanine, and equity (although a lot of deals were debt when I was there). In Dallas there was also a group that did oil & gas. Investment analysts primarily do credit analysis on deals that get brought in by VPs / MDs. You would be drafting investment merits and risks, company / growth strategies, value props, comp analysis based on credit metrics, etc. to come up with a credit rating and pricing. The modeling is pretty basic. When mezz / equity deals come up, you would be doing some more in-depth analysis (basic LBO, etc.).
Then you have to do port. management which typically consists of spreading financials and annual performance reviews of companies.
Typically work was around 50-55 hours a week (more in some groups) when things were normal, but can be more when deals heat up. Start comp for analysts I think is 55-60k base /15k sign on / 20k stub (for summer till year-end assuming you start in the summer).
Overall, you will probably make more on an hourly basis than bankers, but not in absolute terms. Also, the prestige / brand isn't as strong. I've heard of people going back to business school (top 10ish), mezz funds, commerical lending, leverage finance, investment banking, and a few PE (albeit to a lesser extent).
Good luck and let me know if you need anything else.
Can you give me an idea of what the culture is like? What type of people would fit in?
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