Yield Credit Analyst

Role Summary

The High Yield Credit Analyst will be responsible for the credit coverage of a few major sectors and multiple individual company positions. The individual will research new issues and secondary trade ideas as well as monitor existing portfolio holdings to generate superior risk-adjusted returns.

• Conduct independent, fundamental high yield credit research to identify and initiate investment ideas.
• Analyze and explain economic, competitive, sector and political drivers that impact a borrower’s ability to repay its debt.
• Develop well-researched short and long-term perspectives, resulting in the assignment of T. Rowe Price bond ratings, outlooks and investment recommendations.
• Create historical and projected financial models, analyzing key financial metrics to differentiate improving from deteriorating credits.
• Make buy, hold or sell investment recommendations incorporating the fundamental credit outlook.
• Interact with management teams, other credit analysts, rating agencies, sell‑side analysts, and other T. Rowe Price investment professionals, including fixed income and equity analysts.
• Assimilate and filter various sources of information to develop long‑term, well‑researched investment theses on sectors and issuers.
• Communicate credit opinions and investment recommendations orally and in writing to Portfolio Managers, other T. Rowe Price analysts, credit and advisory committees and external clients.
• Produce and communicate regular forecasts of bond performance in selected credits.
• Also develop and apply relative value metrics, seeking investments that generate above‑average returns without excessive risk.

• College degree with a minimum of three years of relevant work experience analyzing Fixed Income securities.
• Solid analytical skills, insight and effective communication.
• Experience understanding and evaluating creditworthiness.
• Ability to make judgments based on market knowledge.
• Experience with financial statement modeling and analysis.
• Inquisitive nature, driven to excel in all aspects of the analytical process.
• Flexible, responsive and self‑starting personality with keen attention to detail.
• Open‑minded thought process and intellectual honesty.
• Willingness to pursue and explore ideas and potential investment opportunities, supporting one’s ideas to questioning by Portfolio Managers and other analysts.
• A team player with excellent communication skills, written and verbal.
• Preferred:
  Advanced degree (MBA) and/or CFA.

This role is eligible for hybrid work, with up to one day per week from home.

$–$ for Maryland, Colorado, Washington, remote workers, Washington, D.C., New York, California. Placement within the range is based on the individual’s relevant experience and skills.

• Competitive compensation
• Annual bonus eligibility
• A generous retirement plan
• Hybrid work schedule
• Health and wellness benefits, including online therapy
• Paid time off for vacation, illness, medical appointments, and volunteering days
• Family care resources, including fertility and adoption benefits

T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.