Career in Investment Management
Hey guys, I'm currently going into my Junior yr of college, majoring in Finance. I have a 3.51 GPA and go to UIUC. I am interested in asset/investment management and I was wondering if you guys could suggest some companies that I should try to get an internship with next summer. I am currently a finance intern at a F500 company. I would want to try to have the internship be in the chicagoland area as well.
Thanks!
There are a ton of investment management firms in Chicago, so I recommend doing a simple Google serach or check at Crains Chicago. Some of the better/more well-known Chicago based firms are...
-Mesirow Financial -Nuveen Investments -William Blair -Ariel Investments -Guggenheim Partners -Baird
yes a google will help
If I were you, I would focus the search on AMs that have an emerging market and/or small-mid cap fund. In my opinion, that is where you will learn the most and skills come into play. Again that is only my opinion, some people in here prefer large cap US equity funds.
OK thanks a lot guys. Just looking to put together a list of companies I should focus on.
Anyone know of any solid Investment Management summer internships for sophomores?s for so (Originally Posted: 06/05/2012)
Hey Guys,
I have a huge interest in the Asset Management field and I was wondering if any of you guys know of any asset management internships for next summer. I just completed my freshman year at McCombs and this internship will be for the summer entering my junior year (next summer). So far all I have down as a possibility the BOAML Wealth Management Branch Internship and contacting some local wealth management firms if they take unpaid interns (I am just looking for the experience). I would really appreciate it if you guys could fill me in on these types of internships for next summer or any advice regarding AM internships
Thanks
Blackrock has internships that "considers sophomores/juniors". However, just know that most (if not all) of its interns will be juniors. They only interviewed one or two sophomore at my school this year (out of like 15 kids or something). Certain BBs also have an asset management side to their business.
For sophomore year, better look into a boutique firm rather than the big ones. Much better chances. (That's not to say you shouldn't apply, of course.)
Check out Russell Investments. I worked there as a sophomore intern
GS IMD has a sophomore program
@DatGreyPoupon: Was Russell investments OCR for you or did you have to apply via their website? did you enjoy your internship there?
Given how hard everyone else on this site gets at the mere site of "G" and "S" in the same word, I'm shocked that you completely overlooked my comment for one re: Russell Investments. GS IMD is half PWM, half AM. Great brand. Structured, paid SA program. I'd seriously consider it if I were you. Don't take it the wrong way - I'm really just trying to help you out.
Investment Management Summer Analyst? (Originally Posted: 06/21/2014)
Hello. I recently met someone who had the title of "Investment Management Summer Analyst". This made me very curious because I have not seen it before.
Is Investment Management the same thing as Investment Banking or is it part of something else such as Private Wealth Management?
Thank you!
It's basically Asset Management. Clients including institutions, sovereign wealth funds and even individuals will invest with a financial services company, which will then invest that money in their products (mutual funds, ETFs, etc.).
So it's not IB and it's more advanced than PWM
Investment Management Internship? (Originally Posted: 05/26/2012)
Hey guys,
So, I am a rising junior right now who is looking to go into investment banking. This summer I currently have an internship working for a really tiny boutique investment bank in NYC. The job looks great and all and it looks like I'll learn alot from this place. However, I am kinda like in getting into banking. I go to a target school and am majoring in biochem and finance there, but I was premed focused for a long time and some of my current ECs reflect that. So, I also emailed alumni around where I live and found a dude who runs an investment management firm who was interested in hiring me part-time this summer and/or over the school year. The work there doesn't sound all that trivial either as its a one-man firm (the dude also worked Goldman IBD previously and was then associate at bear sterns). However, I'm concerned banks won't really care about my work there. So, I guess my question is just...if you guys were in my shoes and had very little direct finance experience, would you try to work with this investment management guy in addition to the bank?
THANKS
anything finance related in your sophomore year is a plus (even if its PWM)
Investment Management - good start on your career? (Originally Posted: 07/02/2010)
How well does your career look like if you start in a local boutique banks investment management wing? I am talking about multi-asset funds with low risk (alpha creation). Its a quantitative role. Will I be able to switch over to sell-side or hedgefund later?
How well does it compare to what?
Working at McDonalds? GREAT
These posts are fucking retarded. If it's your only offer what are you going to turn it down because GSIP would be a more ideal first job? Assuming you have the offer and its your only one, take it without hesitating to ask an online forum about it to increase your self esteem, absorb and learn as much as possible, build up some solid contacts, then learn some more and come revisit this issue in a year or so.
Investment Management - Which direction? (Originally Posted: 07/24/2010)
Hi all,
I have recently started becoming more interested in the investment management side of the industry, however feel that I do not know as much about it as I would like to. If anyone knows of any good resources (websites, books etc.) that explain the industry, and different roles available in it, I would be really grateful!
It would also be really helpful if someone could explain the basics of asset allocation, or just point me in the right direction.
Many thanks
Hello
Investment management field offers a more stabilized career as compared to other financial industries like investment banking, as this industry generates stability of cash flows. Normally, investment management industries are compensated a set payment as a percentage of assets under supervision.
Even though investment management fees include a performance incentive, this industry is less cyclical than other industries like investment banking. Banking fees are dependent on the number of transactions. As banking activities like IPOs and M&A transactions decreased, fees for investment banks also reduced which led to layoffs of bankers. However, on the contrary, assets are always being invested fairly.
Though an unofficial process of money management had started at the beginning of the 20th century, it did not mature till the early 1970s. Before that, investment management was totally relationship-based. Banks and insurance companies already had relationships with various institutions like companies, municipal corporations for employee pension funds which needed to be invested providing asset managers with assignments to supervise the assets.
These asset managers were selected in an unorganized manner. Assignments bound to grow naturally instead of the official request for the application and bidding procedure. The real work of the investment management was also unorganized. Since the investment industry has matured now, full amount assets under management in the United States are around $60 trillion. Globalization has produced a miscellaneous list of foremost industry players which include investment banks, insurance companies and commercial banks. Performing in an investment management field does not require that you should be from particular region of the country like other financial firms such as investment banking.
Books on Investment Management
Hope this helps Thanks http://www.fintel.us/
[quote=vitun]Hello
Investment management field offers a more stabilized career as compared to other financial industries like investment banking, as this industry generates stability of cash flows. Normally, investment management industries are compensated a set payment as a percentage of assets under supervision.
Even though investment management fees include a performance incentive, this industry is less cyclical than other industries like investment banking. Banking fees are dependent on the number of transactions. As banking activities like IPOs and M&A transactions decreased, fees for investment banks also reduced which led to layoffs of bankers. However, on the contrary, assets are always being invested fairly.
Though an unofficial process of money management had started at the beginning of the 20th century, it did not mature till the early 1970s. Before that, investment management was totally relationship-based. Banks and insurance companies already had relationships with various institutions like companies, municipal corporations for employee pension funds which needed to be invested providing asset managers with assignments to supervise the assets.
These asset managers were selected in an unorganized manner. Assignments bound to grow naturally instead of the official request for the application and bidding procedure. The real work of the investment management was also unorganized. Since the investment industry has matured now, full amount assets under management in the United States are around $60 trillion. Globalization has produced a miscellaneous list of foremost industry players which include investment banks, insurance companies and commercial banks. Performing in an investment management field does not require that you should be from particular region of the country like other financial firms such as investment banking.
Books on Investment Management
Hope this helps Thanks http://www.fintel.us/[/quote]
Thank you so much for this.
Investment Management - Several questions (Originally Posted: 08/21/2006)
Can someone explain the difference in Investment Management and Investment Banking. A few questions I have are:
How different are the salaries?
Are the work hours the same?
Do you start at the same lvl (analyst) in both jobs but them move to banking or management?
Is it as competitive?
Pros/Cons
Thanks
Those are not the questions you should be asking.
Dude investment management is MUCH better than IBD.
Investment management analysts at the BBs start out at 100K base with bonuses in the 200-300K range. Seriously dude, forget Ibanking do investment management.
Lots of money there. Everyone respects you. IBD is like equities in Dallas compared to Investment Management.
Seriously dude.
After the previous post, it is clear that investment management is preferred to IBD, but what exactly is investment management? If it is that much better than banking, then it must be that much more difficult to get into. Any explanation would be helpful.
Is there a way to get into investment managment out of undergrad? Is it really hard to get into Investment managment in a BB? What kind of skills are they looking for?
Investment management jobs are reserved for the highest echelons of the elite students. You have to be Rhodes Scholar material to even HAVE a shot at the TOP firms.
As for skills involved you need to have very very sharp quant skills, analytical reasoning abilities, and people skills. All the top tier BBs also like candidates that have non-classroom skills. Your standard range of ECs wont even qualify, I'm talking skills like nunchuck and bowstaff abilities.
What investment managment analysts do is somewhat of a mystery even for seasoned pros on the street. What is know about them is that they make LOTS OF MONEY and work VERY HARD. They also have a reputation of partying really hard. YOu can usually see them out in the clubs late thursday or friday nights with victoria secret models smoking cigars and making fun of poor people.
Seriously, if you get a chance, ANY CHANCE to land a position as an investment management analyst do everything you can to get that job, and I MEAN EVERYTHING, because NOTHING is more PRESTIGIOUS and HIGH PAYING than investment management. NOTHING. First year out of College and you can make 400K.
Salary progression goes as follows
First year: 100K 200K bonus
Second year: 200K 400K bonus
Third Year 500K 800K bonus
After MBA: 2Million 5Million Bonus
These are actual numbers from the top BBs.
Seriously Investment Management is the SHIITTTT.
What the hell are you guys talking about??? Investment management analyst making 200K bonuses???? Analysts in investment management barely makes 30-40% of their salary in bonuses and that is for the top performing one.. same in private banking... they start around 50K to 65K depending on the firm... Invesment management has way less hours then IB... The previous post has obviously no clue!!
this numbers seem way way off...
Humor and sarcasm are lost on you all.
Could someone please provide the information I asked for without being sarcastic?
Morgan Stanley Invt Mgmt Analyst 2nd year - 55K + 25-40% yearly bonus
That was awesome. Just awesome
with such sense of humor you must have made it into IM. ROTFL.
All you IBD champs are just H8TERS. Enjoy your SHITTY 90 hour weeks and PALTRY bonuses.
I'm sitting back at my executive suite office right now sipping Cristal (I only drink now that black people dont) and eating the finest caviar off the most curvy naked buttocks of a $5,000 an hour escort while you chumps are spreading the comp and testing valuations.
Don't H8TE. CONGRATUL8TE.
so what is it really?
what is Investment Managment?
Hey you guys should try researching the answer to this question on a cool little website I found out about yesterday called google.com
Seriously.
WHAT IS THE COLOR OF THE SKY?
DO I HAVE TO BREATH AIR TO STAY ALIVE?
WHY DOES MY PEE PEE GET HARD?
STUPID STUPID STUPID QUESTIONS FROM STUPID STUPID STUPID PEOPLE.
kthxbye
Investment Management - good or no (Originally Posted: 02/20/2009)
I'm wondering what people think about Investment Management (Asset Management, PWM) at a BB as an analyst. Especially when compared to IBD. How's the work environment, the learning, the pay (bonus & such), the exit opps particularly for B-School. Is it easier to go IBD-IMD than IMD-IBD. What's the prestige factor, in general I just need to know how IMD is viewed and the kind of work and skills involved. I'm not sure if its somewhere I want to go especially as a soph but I don't have too much info on it.
Differences/Similarities between IBD and IMD including skills needed and learned
As a sophomore it is definitely a respectable gig to have, pretty standard
It's about the longevity because I've got rotational offers as well, its just how is this in the long term as an analyst. Am I pigeonholing or should I do a rotational
Gosh, here we go again. Time for some green 'internship' bankers to level charges against the merits of working in anything but IB/consulting. I have many friends that started in IMD and are now doing great. Three friends of mine that started in PWM made it to their BB's derivative desk, equity sales and CDO/ABS desk. Other's made it to Investment Professionals and are now making more money for their bank (and themselves) than their counterparts in trading/IBD. I guess I can't say this enough: it's what you make of the experience.
Things in finance aren't as static as you would expect, especially at the junior level. I wrote in a PE FoF thread yesterday about the merits of working for a FoF vis-a-vis banking. Sure enough, there are many people that join the FoF industry and do not lateral into the job of their choice. Why? Because they were too preoccupied with where they would "end up" after their brief analyst stint. They were too busy chasing the 'holy grail of finance' than doing a really stellar job.
Here's a case in point. A friend of mine, whom I hold in the highest regard, started out in a FoF. Not only did he graduate with a master's after four years, but he was also placed at the top of his class at an Ivy. Never the most career-driven, he ran with the opportunity and worked his butt off between 2006-2008 in the secondary space. He's now at a distressed fund within a top PE company, far outperforming any of his IBD peers.
This is anecdotal. And should be treated with ladles of salt. But it goes to show that perceptions generally don't matter. If you work harder than your peers, you'll be rewarded.
Inventore expedita velit sint placeat expedita ipsa. Veniam repellendus sed facilis non et.
Et nulla nulla mollitia corrupti nisi aut eius. Adipisci dolores distinctio repellat eius eveniet id qui qui. Iusto eum temporibus eveniet. Eos debitis ut fuga dolorem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Totam consectetur quaerat qui dolor consequuntur est. Voluptas laudantium veritatis et ratione aliquid in. Consequatur illo sed corporis aliquam.
Harum autem fugiat illo eos nobis. Quisquam commodi voluptas qui distinctio esse voluptatem. Atque quia ipsum amet incidunt ut. Repellendus impedit dolores autem illum. Ipsam dolorem est odio accusantium mollitia facere nemo. Quia ut veritatis voluptatibus excepturi dolor veritatis.
Sed sed dolores vel assumenda occaecati. Sint velit tempore ex incidunt optio qui necessitatibus.
Labore accusamus reiciendis quibusdam optio omnis sit. Aut saepe beatae ducimus vel dicta tenetur.
Deserunt quaerat quaerat voluptates recusandae ut voluptas minima qui. Qui ut fugiat autem ut excepturi. Corporis saepe sed saepe modi officiis.
Reprehenderit eveniet quo quisquam expedita. Nobis aut et nulla cupiditate voluptatem. Et sunt a deleniti tempora voluptas nisi nulla.
Nemo ut quia aut repudiandae quis eum nulla. Laudantium dolores nostrum aspernatur eum at quasi. Et ut pariatur et est quos.