Navigating Your Path to More Meaningful Roles
I graduated from a non-target university in the summer of 2024 with a finance degree, good grades, and a range of extracurricular activities. Despite this, I found myself struggling to secure a job because my internship experience was in an operations-focused PWM role, which I wasn’t keen to return to.
Given the challenging job market in Toronto, I accepted a low-level position at one of the Canadian banks, involving operations work once again. This job does come with a better title and slightly more engaging tasks compared to the KYC work I did during my internship. I started about a month ago, with the understanding that this position is temporary; I plan to start searching for a new opportunity towards the end of the year. I believe it’s better to avoid job-hopping before a year is up.
That said, I’m not interested in a long-term career in operations. I’ve completed all three levels of the CFA and have developed a keen interest in private markets—particularly private credit, although I know both areas are highly competitive. I understand that transitioning directly into private credit from an operational role is unlikely, so I’m seeking advice on how to make this shift.
Am I already at a disadvantage due to my current role, or are there realistic positions I should aim for that could serve as stepping stones toward gaining the necessary experience to enter private credit in the future?
Any insights would be greatly appreciated.
Thanks!
One response
Congratulations on graduating and securing your current role, even if it’s not exactly where you want to be! It’s great to hear that you’ve passed all three CFA levels and have a clear interest in private credit. While transitioning from an operations-focused job to a role in private markets can be challenging, you certainly aren’t a lost cause. Here are some steps and strategies to consider as you work towards your career goals:
Network Actively: Connect with professionals in the private credit and private equity sectors. Utilize platforms like LinkedIn to reach out to alumni from your university, attend industry events, and join relevant groups or associations. Making connections can lead to informational interviews which can provide valuable insights and potentially open doors.
Leverage Your Current Role: Even if your current position is operations-focused, seize opportunities to expand your responsibilities or gain exposure to other areas related to finance. Show initiative in wanting to understand more about investment processes, risk assessment, or credit analysis.
Target Relevant Roles: Look for roles that can serve as stepping stones. Consider positions such as financial analyst, portfolio analyst, or roles within credit risk or research departments. These can provide you with the necessary analytical skills and exposure to investment decisions needed in private credit.
Develop Skills and Knowledge: Continue to build your understanding of private markets, credit instruments, and financial modeling. Online courses, webinars, and reading relevant financial literature can enhance your knowledge and skills, making you a more competitive candidate when opportunities arise.
Get Involved with Projects: If your current role allows, propose or volunteer for projects that have overlapping responsibilities with investment teams or that focus on evaluating investment opportunities.
Stay Updated on the Market: Follow news related to private credit, including market trends, significant deals, and key players. This will not only keep you informed but will also help you in interviews and networking conversations.
Plan Your Next Moves Wisely: Once you’ve built a solid foundation and network, you can strategically apply for more aligned roles. Consider applying to open positions in firms focused on private credit or related asset management firms.
Consider Further Education or Certifications: While you’ve completed your CFA levels, other credentials, such as specialized courses in credit analysis or investment management, could also enrich your qualifications.
By being proactive, continuing to develop your skills and network effectively, you can successfully transition into a role that aligns more closely with your interests in private markets. It may take time, but persistence is key! Good luck, and keep pushing towards your goals.