Other Professional Paths

In Finance

Indices

  • Produce research on and design index funds, ETFs, and related products
  • Sample employers: JP Morgan (Global Index Research Group), S&P (Dow Jones Indices)

Economic forecasting

  • Involved in forecasting macroeconomic variables and running economic scenario analysis for a financial institution (e.g. suppose X happened, what would tomorrow’s economy look like?) 
  • Employers: major banks (JP Morgan, Citi, etc.)

Credit rating

  • Analyze bonds to determine probability of default or expected loss from default
  • Involves financial modelling, proprietary statistical models, accounting, interpretation of financial data and documents
  • Types of bonds rated: corporate, public finance, financial institutions, structured finance, project finance, insurance, sovereigns, funds & asset management
  • Major employers are the big 3 credit rating agencies: S&P (Global Ratings), Moody’s (Investor Services), Fitch Ratings

Research

  • Macro research

Produce and publish research in public policy, foreign exchange, interest rates, economics, etc.

  • Credit research

Produce and publish research in sovereign bonds, high yield bonds, municipal bonds, corporate bonds, etc.

  • Employers: major banks

Fixed Income Strategy

  • Monitor financial markets to get a sense of market themes, events driving market activity
  • Develop research and market knowledge used to inform investment decisions and overall strategy toward fixed income products
  • Communicate market perspectives to teams internally within the firm as well as external clients
  • Employers: major banks

Stress-testing

  • Run models to simulate whether financial institutions can withstand economic/financial stresses
  • Design and develop processes surrounding firm stress testing; prepare stress testing results for external submission
  • Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act Stress Testing (DFAST) are stress tests conducted by the Federal Reserve to see whether banks have sufficient capital to survive economic/financial downturns
  • Employers: major banks

Other job areas include risk management, commercial banking, insurance, corporate finance, private wealth management, and much, much more!

Miscellaneous

People analytics

  • Analysis of data on people to improve organizations, workforce performance, etc.
  • Employed in consulting, finance, tech, etc.

Public policy in the private sector

  • Develop policy surrounding new products and technologies
  • Manage relationships with public officials and develop political and regulatory strategies for the company
  • Sample employers: Facebook, Lyft, Google