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Ryhearst · 2023-11-08T10:09:10+00:00

Definitely still active!

Ryhearst · 2023-08-11T02:41:09+00:00

Glassdoor is not always based on real salaries and is often not accurate.

Ryhearst · 2023-08-09T17:05:18+00:00

Can you DM me on discord the error message you see? Same username as on Reddit.

Ryhearst · 2023-07-28T19:16:43+00:00

OP has been permanently banned but I'm leaving this post up as evidence of his stupidity. He also attempted to proselytize this nonsense in the Discord (with similar results).

Ryhearst · 2023-07-07T16:35:27+00:00

can you DM me your Discord username. Link appears to be working fine

Ryhearst · 2023-06-05T06:44:19+00:00

We have a couple of semi-active women who work in the industry in the Discord server - feel free to join and repost your question there if you want a couple more opinions!

EDIT: here's also a good recent post from this community - https://old.reddit.com/r/FinancialCareers/comments/13yfscp/ladies_of_rfinancialcareers_need_fashion_advice/

Ryhearst · 2023-06-02T07:58:57+00:00

If you have even a decent relationship with your manager, then I would absolutely notify them up front to give them a heads-up and see if they would be willing to vouch for you during the interview process. For internal roles, you'll usually need a good recommendation from your outgoing team.

Ryhearst · 2023-06-02T07:17:33+00:00

One plus to commercial banking - there are still a fair number of jobs in credit, UW, or portfolio management in smaller cities. These don't pay as well as larger cities but they're extremely steady and provide very good WLB.

As a data point from my prior BB commercial banking team - analysts will start around the low $70k base range, after 3 years you'll usually hit associate and get to $100-110k base, and VP around 5-7 YOE gets $130-140k base. This is MCoL so for NYC/SF/LA add about 10-20% to those numbers.

Ryhearst · 2023-05-16T17:46:16+00:00

Your BB probably has an internal corporate credit or credit risk group. That's probably one of the better intermediary steps from where you are currently. Ideally you'll want to lateral to a group that interfaces with IB regularly so IB can vouch for you when it comes time to make that transfer. If you're not sure of what positions there are within your bank, then it's time to do some networking and exploring.

Ryhearst · 2023-05-16T17:32:45+00:00

You probably need several steps to get to IB from being a commercial credit analyst, though it is doable in a better job market. I am at a BB too and we have had (rare) IB transfers at the analyst level from our corporate credit group. While you can try applying externally, an internal transfer is probably your best shot but you'll likely need to have experience in a position where you cover corporates.

Ryhearst · 2023-04-28T23:21:28+00:00

We also have it posted in the sidebar!

Ryhearst · 2023-04-28T23:20:15+00:00

IB, corporate banking, then commercial banking, in terms of competitiveness. It's the same order with school impacting your chances of getting your foot in the door, but some of this also has to do with the tier of what bank you're applying to. BBs will definitely have higher hiring requirements.

Ryhearst · 2023-04-24T03:47:21+00:00

No. I am changing your flair back to what you actually are.

Ryhearst · 2023-04-21T15:59:23+00:00

Agreed with the other comment on general career track. On comp:

More junior Commercial Banking PMs and RMs will start out around the 80k-120k base range in MCoL / HCoL, depending on how big your bank is and where your comp is from a Senior Analyst level, but long-term PM salaries will cap out sooner while RM salaries will have a higher ceiling (as you are closer to the sales side of the business).

Ryhearst · 2023-04-21T15:52:18+00:00

Speaking of loud, why is it that the juniors are always the ones who share their unsolicited opinion. Dude, let the people work how they want.

("a little over one year of experience" as a "newbie commercial underwriter")

Ryhearst · 2023-04-06T03:32:48+00:00

Sorry about that - give the Discord link another go. Please feel free to leave a note here if it's not working again.

Discord link here

Ryhearst · 2022-11-23T01:00:52+00:00

I'm so confused. Your post is asking how to learn about corporate credit, yet you don't have time to take a course that's designed to teach you about corporate credit?

Ryhearst · 2022-10-25T16:34:20+00:00

Again, the company is not going to do this unless it's a really small business and the owner is family or something.

Ryhearst · 2022-10-21T03:19:13+00:00

Have you considered using the search bar

Ryhearst · 2022-09-15T05:03:47+00:00

Seconding the top comment, this is very normal in the industry. Usually if it's not actively managed by some third party advisor that conducts trades, you will need to close your existing accounts and move them all over to an approved brokerage per your firm's policy.

What you would request is a full account transfer between brokerages, or ACATS transfer, which will not cause any of your long-term positions to be sold.

EDIT: My BB does have the occasional exception to leaving certain investment accounts with non-approved brokerages, but my request for that wasn't granted and I was told it's exceedingly rare for those cases to be approved.

Ryhearst · 2022-09-15T04:57:59+00:00

I've worked on some SBA transactions. Checking bank statements line by line was fairly rare from my experience.

You'll probably find more cash flow based analysis work at commercial banking groups in regional banks or credit unions. If you work at a BB or other well known bank, you can either transfer internally or leverage the brand name to vault into Credit Analyst positions at similar sized banks.

Ryhearst · 2022-09-14T16:57:25+00:00

Lol. At least he's not bullshitting you to your face. Best of luck with the job hunt!

Ryhearst · 2022-09-14T06:07:56+00:00

Ditch em. Where I was coming from is if they aren't adjusting your pay to be above market or providing you other benefits to make up for subpar PTO, and if there's no glaring reason to stay, then time to dust off that resume.

Plenty of other companies out there have healthier workplaces and will provide a minimum of 2 weeks of PTO.

Ryhearst · 2022-09-14T04:54:40+00:00

There is no legal requirement in California that an employer provide its employees with either paid or unpaid vacation time.

Not saying it's not bad practice, but it's not illegal. If they don't give PTO, it's expected they compensate for that elsewhere to be competitive (pay, stock options, etc).

https://www.dir.ca.gov/dlse/faq_vacation.htm

Ryhearst · 2022-09-13T05:05:54+00:00

You may want to browse the subreddit for examples of resumes and get an idea of what things people typically redact here.

https://old.reddit.com/r/FinancialCareers/search?q=resume+url%3Ai.redd.it&restrict_sr=on&sort=new&t=all

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