Any Desk Analysts or Credit Traders here ??

Based on the most helpful WSO content, here are some insights and recommendations for pursuing a career as a High Yield (HY) Desk Analyst or Credit Trader:

Relevant Experience:

1. Restructuring (RX):

   • Skills Developed: Financial modeling, debt restructuring, and distressed asset valuation.
   • Relevance: Directly applicable to credit trading and high yield analysis due to the focus on distressed and high-yield debt.

2. Leveraged Finance (LevFin):

   • Skills Developed: Structuring leveraged buyouts, high-yield bond issuance, and credit analysis.
   • Relevance: Provides strong exposure to high-yield markets and credit products, making it highly relevant for a HY Desk Analyst role.

3. Debt Capital Markets (DCM):

   • Skills Developed: Bond issuance, market updates, and client interaction.
   • Relevance: While DCM experience is valuable, it may be less modeling-intensive compared to RX and LevFin. However, it offers good exposure to credit markets.

4. Investment Banking (IB):

   • Skills Developed: Comprehensive financial modeling, valuation, and corporate finance.
   • Relevance: General IB experience can be beneficial, especially if you work on debt-focused transactions. It provides a solid foundation in financial analysis and modeling.

Additional Tips:

• Internship Strategy: Given the challenge of securing a specific desk in markets at a BB, consider targeting internships in RX or LevFin to build relevant skills and experience.
• Skill Development: Focus on enhancing your financial modeling and credit analysis skills. These are crucial for a HY Desk Analyst role.
• Networking: Leverage your network to gain insights and potential referrals for positions on credit trading desks. Networking can be particularly valuable in niche areas with limited positions.

Conclusion:

For a career as a HY Desk Analyst or Credit Trader, gaining experience in RX or LevFin would be highly beneficial due to the direct relevance of the skills developed. DCM and general IB experience can also be valuable, but may require additional focus on modeling and credit analysis.

Good luck with your career aspirations! If you have any more questions or need further guidance, feel free to ask.

Sources: S&T Summer Analyst Lateral to IB FT?, Hours: LevFin v DCM London, ECM/DCM for Career Banking, Can GCM analyst recruit for PE?, Analyst at DCM, now what?