What it does: A global financial information services provider in more than 30 countries.
Best known for: Fitch Group belongs to Hearst Corporation, a diversified conglomerate that owns more than 360 businesses worldwide.
Staff stats: More than 3,500 employees.
The good bits: Graduates can choose to work for Fitch Ratings, one of the big three credit rating agencies in the world. Employee benefits at this unit are more competitive than other Fitch Group subsidiaries (eg Fitch Learning and Fitch Solutions).
The not so good bits: There’s an unequal number of entry-level opportunities at regional offices for fresh graduates and students. Job vacancies in Europe and North America are fewer than the same opportunities in Asia.
Fitch Group started in 1886 as a business communications service provider. They have grown into a global financial information service provider comprising four units: Fitch Learning, Fitch Ratings, Fitch Solutions and Fitch Ventures.
Fitch Learning provides clients with training and professional development services, while Fitch Ratings is one of the three biggest credit rating agencies in the world. Fitch Solutions offers credit risk, debt investment, and strategy and forecasting solutions. Fitch Ventures acts as a strategic venture investment vehicle.
Fitch Group scouts for individuals with ‘intellectual curiosity’ as one of their primary strengths. Most people usually join the group by applying for job opportunities at Fitch Learning, Fitch Solutions and Fitch Ratings, although the latter unit has more opportunities for fresh graduates.
Applicants for summer internships can expect to wait for three weeks to know the results. An HR representative will contact you over the phone within several days from submitting an application. Most of the questions will focus on behavioural topics like your reasons for choosing your major and wanting to join Fitch.
The company may take more than two weeks to process candidates for analyst roles if graduates apply through a staffing agency. Be prepared to answer salary-related questions from the initial interview.
Internship applications may take up to three weeks. There will be at least two rounds of interviews with the HR manager and department head. Applicants should anticipate questions about local and international news.
Graduates who join Fitch Ratings as analysts can pursue certification through Fitch Credit Academy. Once you become a manager, the Fitch Management Academy can help you with further career development. Entry-level roles normally require at least three years of professional experience, although Fitch Ratings offers several programs for graduates and students. The Summer Analyst Program (SAP) involves job rotations in any two of the following departments: corporates, financial institutions, fund & asset management, global infrastructure & project finance group, structured finance and US public finance.
The company encourages students, who are in their final year of studies, to join the Business & Relationship Management (BRM) Summer Associate Program or Fitch Solutions Summer Associate Program. Fitch may hire them as entry-level associate analysts after graduation. Fresh graduates can also apply for a 12-month internship for the same role.
The incentives largely vary among Fitch Group’s subsidiaries. Fitch Ratings, for instance, seems to have more benefits compared to Fitch Solutions. The common benefits include dental and health insurance, life and vision insurance, maternity and paternity leave, paid holidays and time off.
Summer interns at Fitch Ratings earn between HKD12,000 and HKD13,000 per month on average. Employee benefits include annual leave and medical coverage, even for contractors.
The company pays INR5,000, on average, per month for interns at Fitch Ratings.
A good work-life balance manifests through office hours from 9 am to 6.30 pm. Graduates, however, should expect office politics that can affect their workload. The company still makes it easier for new employees to be familiar with the workplace through a horizontal corporate structure.
Employee retention seems to be a problem attributable to low pay, but some employees say that Fitch provides career growth if they prove to be qualified for a higher role. Graduates can expect a friendly work environment where most people know each other by name.
New employees should anticipate a few social activities. Some employees believe that the company should improve the process for promotions, which shouldn’t rely on a person’s length of service.
A tight-knit office, partly because of a few employees, somehow compensates for stressful work from handling routine tasks. Graduates should still expect to work longer hours during the peak season in the financial services industry.
Fitch Group competes with Moody’s Corporation and S&P Global. The latter two companies own Moody's Investors Service and Standard & Poor's Financial Services, respectively. Along with Fitch Ratings, the trio is the big three credit rating agencies in the world.
Fresh graduates and students should only join Fitch Group if they are confident of their academic achievements. Excellent marks aren’t the only standard that the company requires for potential employees. They also need to be genuinely interested in the financial services industry. Career progression may take a while, although the group’s training and development programs contribute to an easier transition into a different role.