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One path to Commercial is try to get into a formal credit analyst training program which typically take recent grads. Credit training is key for Commercial RMs. Other route maybe small business banking / lending which is more similar to consumer lending. Graduate from SBB to Commercial in a couple of years
I agree with this strategy. I started out in retail banking as a assistant manager - transitioning to business banking can get you the credit skills needed to work your way up to commercial banking.
You will have better luck showcasing your skills at a smaller bank.
Could always just try to land a spot at whatever regional bank J.P. Is thinking about acquiring and take the short cut to getting into a bigger bank 😂
There are usually lots of entry level positions or “training” positions for post grads tbh, you just have to do your research and find the postings / attend the recruiting events. However if you just want to focus on building yourself up, a more corporate role in something like cash management, a business service position, etc might help? I’ve also seen people transition from wealth, since many mid-market business owners are also wealth clients at big banks
I’m a newer commercial lender for a regional bank. The only reason why I even got an interview was because I was a credit analyst. Moving from consumer lending to a credit ana list role should be easy, it’s exactly what I did. Do that for 2-3 years and your positioned yourself to be a lender.
why people want to go to commercial banking? The competition is very high, even for a entry level role
Pay to demands made on you are pretty reasonable actually. Like hardly ever have to work extra hours if you don’t want, pay is reasonable. Can lateral to something with higher demands and pay later if it’s not fast paced enough as well. Also since demand to get in is lesser than other parts of banking, you can move up pretty fast I’d say. Also what I’ve observed but maybe not the case everywhere
I'm trying to break into the banking world, preferably as a Commercial Credit Analyst but I've also been applying for role like Commercial Lending Assistant and similar type positions but I've had an incredibly hard time. I've gotten one call back out of dozens of applications. I've researched how to write resumes and cover letters and run mine through ATS scan programs to try and optimize them, but nothing is working.
I don't have directly related experience; I've worked as a Trading Specialist for the last three years at a large brokerage, which doesn't exactly translate to banking. My degree is in Quantitative Economics, I've passed the first two levels of the CFA, and I've completed the ABA Certificate of Commercial and Business Lending. I've been networking at the local Chamber of Commerce young professionals events and recently attended the Economic Growth conference put on by the Chamber to make connections with industry professionals and get their advice. But I'm still not able to get a foot in the door.
I don't know what else I need to do. How did you get into the industry? What do I need to do?