Question - Regional Bank Wealth Management - Generalist Equity Analyst > PM and future Opps
Hello,
I am in the final stage of interviews with a small regional bank that has a wealth management division that manages $1B in assets. The position is a generalist equity research role with some trading components but is part of a 6 person team which consists of 3 PMs, a head trader, CIO, and this future person.
I am wondering if my long term goals of becoming a Portfolio Manager at a larger institution will be able to be achieved with this as my first job out of undergrad. Also, I was wondering if anyone could shed some light on what the pay may be for a position like this for both an analyst and a Portfolio Manager. The firm charges only a fee on AUM and has grown from $600mm over the past couple of years.
Or, would it be better for me to pursue sell-side shops where I have interviews coming up.
Any advice would be much appreciated.
I think this role would be perfect for growing into a portfolio management role, you will probably be assisting the PMs at some point, and probably participating in research meetings as a generalist just being up to date on the markets and doing research on specific names assigned to you potentially. I think given the size of the firm employee and asset wise you will have multiple hats, which will help you a lot I feel like. I would think these skills could help you move into a larger shop as a portfolio manager associate, and work your way up from there.
Pay wise, probably depends on your geographic location, smaller town I would say somewhere in the 50s maybe 60s base if you are in a bigger city probably a bonus anywhere from 5-10% would seem reasonable. Won't be the same pay as a larger firm in a heavy urban area.
Thanks a lot for the response.
I was thinking this as well. In the interview the CIO mentioned that there are weekly investment meetings and eventually, given that I am trusted, they will listen to new investment ideas. Also, a lot of the work is passed on from the PM's because at this point they are all covering numerous sectors so they may say, "Hey can you look at XX and tell me what you think it should be trading at ". I have no heard of any pay yet so I will assume you are correct and it is in a smaller town so probably low 50s I imagine. Just a tad concerned on the move down the road if the firm is not growing fast and I want to move to a larger institution.
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