Should I make the move?
I need advice from all of you again.
Some background info, I have been working in research (ex-quant FI, started fundamental equities 2 months ago) for 3 years at a top traditional AM firm (400-1000B AUM). I am currently a junior analyst (the level after associate and senior associate) I have passed all 3 levels of CFA and need 1 more year of work experience to get the charter. My goal is always to be a portfolio manager at an AM firm of the same caliber. A couple months ago, I asked the board for advice about whether to enroll at HBS, got some good advice and decided to forgo the opportunity.
I have been offered an opportunity at a F100 (technology) company as a junior portfolio manager within the corporate treasury/internal portfolio management group that manages the company's cash position. I will make about the same or slightly less at this position (current comp is 170k total. Was told the total target comp for this position is about the same, but a significant part is deferred comp that will take 5 year to fully vest, so effectively I will be paid slightly "less", ignoring the effect of cost of living/tax).
Now my question is, is it worth it to take this position with my goal in mind? Obviously this move will effectively transition me from buyside research to an actual portfolio management position. However, I will also be completely out of the typical AM space. Also to keep in mind is that I am doing really well where I am. When I asked some of the PMs whether I should go for an MBA a couple months ago, I was told that I am on track to move to a junior associate PM position in a year or two (obviously take this with a grain of salt because I have learned that promises in the working world really dont matter) I am also interested in hearing the difference between type of investment at a corporate treasury/portfolio management group vs a dedicated AM, the lifestyle etc. Can PMs from corporates transfer back into AM? (I have never seen one myself but there are really not that many PMs here to make a representative sample to be honest)
Treasury management sounds pretty boring.... unless it's what you want to do. I would stay at the current AM firm.
analyst is after associate? :P
and you turned down hbs?
yes and yes
Analyst is after associate in research, usually, I believe.
yes
any thoughts?
I would advise against the move. I am learning the hard way that once you move away from the financial services industry and do the same job at a non-financial services firm (in my case a corporate development role) it becomes difficult to break back into financial services. However, this is just based on my own experience, and my current firm is nowhere near an F100 firm.
I think the critical factor in your decision making is what your exit opportunities will be (and you have already thought about it). All the best for your move but unfortunately I am in no position to talk about this as I have no idea about the AM space.
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