Vanguard Accelerated Development Program over Ops at bulge bracket?

Is taking a job in a 1.5 yr Development Program at Vanguard better than Operations at bank like GS/JPM?

Cheers

16 Comments
 

I could really use some help here folks, offer acceptance/deferrals are due soon!

"Major in economics; use your economics degree to get an analyst job on Wall Street; use your analyst job to get into Harvard or Stanford Business School; and worry about the rest of your life later"
 
Best Response

chitown, thanks for the interest.. the name of the program at is "Vanguard Accelerated Development Program".. its just outside philadelphia, at their headquarters, pay is about 55, and you obtain series 6 and 63..

From my career site: rotational program designed to build your leadership, client relationship management, and analytical skills as you prepare for a supervisory, client-facing, or investment analysis career.

4 total rotations over 18 months

Upon successful completion of the program, you'll be launched into one of the following positions at our headquarters in Valley Forge, Pennsylvania:

-Supervisory role managing entry-level crew. -Client relationship management role helping our retail or institutional clients meet their financial goals. -Investment analyst role with the option to pursue investment research and analysis or money management.

I would shoot for the investment analyst role at conclusion of VADP.

Thanks again

"Major in economics; use your economics degree to get an analyst job on Wall Street; use your analyst job to get into Harvard or Stanford Business School; and worry about the rest of your life later"
 

The Vanguard program sounds pretty good. More than likely everyone in the program will want to get into the investment analyst or money mgmt deptartments. Use that as a driver to kick ass even more and distinguish yourself. Transferring out of Ops at a BB is really, really difficult. I would avoid Ops like the plague. Good luck on your decision.

 

I really appreciate the feedback Chitown.. I think I am having the same thoughts haha.. just something to add, the Ops role is in midtown manhattan and starting salary is about 65k.. 10 more than role at Vanguard... do you think those should be a factors to considere?

"Major in economics; use your economics degree to get an analyst job on Wall Street; use your analyst job to get into Harvard or Stanford Business School; and worry about the rest of your life later"
 

Not sure what you long term career goals are but the Vanguard position will probably do a better job of getting you there than an Ops position. Ops is almost impossible to break out of.

65k is actually pretty good for an Ops role, though the bonus probably isn't great. Philly is also considerably lower cost of living than Manhattan. And Philly has some decent i-banking/PE/AM opportunities as well I would think. I'm not too familiar with Philly. I used to work in Baltimore but have since moved out to the Midwest (Chicago).

 

Could be wrong, but I thought Vanguard mostly ran passive funds. I'd imagine the research would focus on portfolio turnover when the underlying indices rebalance to minimize tracking error. I've also heard the culture there isn't great and can be very political, although I'm sure your friend could speak more to that. You want to make sure you can land a research role after the program vs. management/phones.

 

^ I actually heard quite the opposite about the culture. A close friend of mine works there and just got out of the 1.5 year training program, he is managing a team in fixed-income. I think he makes around 55k base + maybe 10k bonus (not sure).

 
BTbanker^ I actually heard quite the opposite about the culture. A close friend of mine works there and just got out of the 1.5 year training program, he is managing a team in fixed-income. I think he makes around 55k base + maybe 10k bonus (not sure).

Do you know anything about promotions? What kind of opportunities do they offer after you've been out of the program for a while?

 

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