PIMCO Rep/Comp vs IBD
Want to learn more about PIMCO, specifically London office, and a lot of the info on WSO seems either US-focused or outdated.
What's the reputation of PIMCO like vs BB IBD like GS/MS?
How does the comp compare? I know the base analyst I salary at PIMCO is circa £55-60k, higher than street, but does PIMCO give out bonuses to juniors? Also, if anyone knows, does that vary across account/product/portfolio roles?
Any insights into those questions or the culture etc. at PIMCO would be much appreciated. Thank you.
Am somewhat familiar with PIMCO (have never worked there but do a lot of business with them and know a few that do work there).
Reputation: Outstanding. They enjoy an impeccable rep in the FI AM space. They're known for being quite deep in research and knowledge. They take an active management approach, which I find quite refreshing in a world of passive ETF and algorithmic investing.
Culture: Quite collaborative. They desire and require ALL their peeps to have a deep understanding on macroecon, world events and the affect that has on the financial markets. It's instructive as it explains where they find opportunities (active management) to generate alpha which they most certainly do. To that point they provide lots of resources and access to learning about all this stuff. As an example, they have a monthly speakers forum where they bring in the best and brightest on a specific topic and literally everyone is invited to attend. Their advisory board consists of major players like Ben Bernake, a former PM of England, etc. It's a heady shop!
Comp: just look on Glassdoor. They pay their people quite well. Hard to compare to IB as it's not IB. You won't make the same "all in" comp, especially at the early yrs , but it's still really good pay for far fewer hours. If you make it past VP level (which typically requires an MBA from a top school), you'll crush it.
From a rep standpoint, they are the GS, JPM, MBB of AM.
Thanks a lot for sharing your insights. I will likely be taking my offer but wanted to hear from an outside perspective too rather than just speaking to current employees.
Great place to start a career and learn a ton about financial markets. Lots of people stay for a long time. Some get their MBA and come back. Others leverage the name as it will certainky help build the resume.
What division did you accept your offer in?
Can anyone comment what salaries are like at each level?
Look on Glassdoor. Lots of info. The structure in most roles is Analyst, Associate, Senior Associate, Manager, VP, SVP, EVP, MD (this is the case for Accounts, Portfolio, and Product)
I am also seriously curious about this. At a Top MBA and looking at all different routes.
I can tell you nearly exactly how much I could make at MBB, IB, and tech 5-10 years down the line but PIMCO, its a giant black box man.
I used to work at a BLK/Fidelity/PIMCO and have a couple buddies at PIMCO. I'd say when you're talking fixed income specifically, and some areas of credit, they are the goat. If you're joining their alts or equities teams, they don't garner nearly the same respect. I have no clue how that impacts pay, but I'd have to assume they're not sharing the biggest pieces of the profit pie. If you can, join as a portfolio associate. Their training is really put into detail at the junior levels, so you'll have a plethora of exposure across FI and credit, but won't really take on full responsibilities until a couple of years out.
Any idea on comp for post-mba account managers?
I do know that they pay above street, but not like a CVC Credit. I don't have specific numbers.
Don't know about starting AMs but long term it's great, especially when you earn VP, SVP, EVP and eventually MD titles. Profit sharing bonuses kick in at the top and they are substantial. Focus on the big picture. They have many that move there and stay forever. Some will view that as limiting your upside. I view that as a positive in that they don't want to leave. Says something about the culture and the comp. Lots of folks move there from BBs.
Know many ppl there. Its IB money post MBA
Their private alts division has grown tremendously over the past 5 years and generates ~15% of the firm's revenue but is only 3% of PIMCO's total AUM. I'm sure those guys get paid better than the public side guys.
Does their private alt division invest directly in companies or does it invest in private credit funds such as Ares?
Hard to move up and juniors are severely underpaid and don’t even deserve investment roles. Still a big mba culture there.
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