So I got an offer from a boutique consulting firm. It mainly does project management for a number of F500 tech companies. It starts in august. What I originally wanted was to work in AM but I couldn't get an offer.

Any ideas about how I should go about getting a job in finance? I have a few months to look around so I've got a little time. But any suggestions?

-Should I work in consulting for a year and apply to a MSF? My gpa is 3.2 and I come from a top LAC (econ major), with good extra currics).

-What are options do I have?

Thanks for the advice. Ultimately I could end up liking consulting and stay there. Any advice. CFA?

http://blogs.hbr.org/fox/2013/05/just-how-useless-...

Thoughts on this?

Professors have been basically telling me to put my money in index funds. I think that one of asset management's roles is to pretty much make the markets more efficient through the "experts'" advice through allocating capital where it is needed/worth allocating to. Thus, institutional investors are a big part of this. What about the individual investors?

What will happen to management fees then? Will they be shrinking?

Anyone in here attending tomorrow or Thursday at the NYAC?

If the ultimate goal is to be a PM, which path should one take when starting right out of undergrad? Post MBA? What are the differences in their career progression? And how do the tasks differ as an entry level employee?

Hi Everyone,

option 1: boutique consulting firm associate. They work mainly (70%) with 4 or 5 F500 tech companies. 50-60 people at the firm. Pay is 40k.

option 2: totally different. associate at mutual fund. Pretty small (700million). Less than 10 employees. As far as job description, I'd mainly be doing a little bit of everything. Worried it may be too much marketing for the firm. But it is in finance.

Does anyone know anything about Verizon Investment Management? it sounds like an awesome gig with opportunities in asset management/allocation and what sounds kinda like PE/HF work.

Hi Everyone,
I am a graduating senior and have an offer at a boutique consulting firm (40 people). They do almost 85% of their business with 2 of the largest tech companies in the us. They offered me a 3 month contract (FT) with option to renew.

I'm concerned because the pay isn't that good and I know the security working for a boutqiue consulting isn't that good either.

Originally I had wanted to go MBB but never got any offers. Second to that I looked at finance firms. I know a few people who are portfolio managers/CFA's and almost all of them made tons of money and loved what they do. I've always followed the markets so I always thought it was an interesting career.

Two questions:

greetings!
So, I just got interviewed over the phone unexpectedly at big AM firm (i was still sleeping!) and she was detailing out my responsibilities and she mentioned how i will start doing the adminstrative work (bitch work) and eventually i can work my way up to "working with clients".

My Q is: Is there actually a ladder like she suggested from admistrative to "working w/clients"? if so, what exactly does it mean?

I don't mine doing the bitch work initially as long i get to something that matters eventually.

P.S. I'm an econ major at non-target school and this is my first finance related internship (previous ones were mainly in the gov't) AND my final goal is to end up in PE (I tried to get into PE firms but to no avail) so something better than nothing right?

Can anyone explain the the difference between asset management and risk management? what exactly does asset management do? and what kind of quantitative skill does it need? Thank you!

What is the general reputation, pay, culture, exit ops, etc. of the credit arms of megafunds i.e. Sankaty, TPG Credit, KKR AM, etc.? Looking for information on a pre-MBA associate role.

Any help or insight is much appreciated.

I've checked almost all of the previous threads on this topic before and understand the differences between the two.

What I don't understand is the apparent notion that it isn't very likely to transition from AM to acquisitions. Is this even true?

I mean it seems like it's almost a natural progression. In AM you actually execute the whole investment plan that acquisitions dreamed up. You have a far better grasp on all of the assumptions than any candidate from REIB or a purely acquisitions background. Assuming you are just as financially adept as the people with IB/acquistions backgrounds this should be a no contest.

So why is it difficult to switch?

Which one looks better for a top 25 MBA program for a super non-target?

Thank you Monkeys

I'm working for a BB HFOF (first year out of school) and am wondering if it is possible to move to investment banking. I feel that I do not have a solid skill set for long-term survival in the industry if I stick with HFOF.

I was reading Kyle Mowery's blog post as it relates to investing but I find it hard to reconcile two things:

1. The outcome is assumed to have no relationship to any other investment you make ? Not a good idea...

and

2. (Based on what ?) you "specify a time period before entering a position ?"

Quote:

Nassim Taleb lavishes praise on the Kelly Growth Criterion: “Kelly’s method requires no joint distribution or utility function. In practice one needs the ratio of expected profit to worst-case return – dynamically adjusted to avoid ruin.”

Can anyone provide any insights about them and their culture? I know that they are led by few guys from BS and their ambitious investment banking arm. I have an interview coming up with them for Portfolio Analyst type of position. Thanks in advance!

I came into an ACC school as a Computer Information Systems major because tech has always been my specialty and hobby - I have worked at a computer repair shop for 3 years now and co-founded a tech start-up 2 years ago (I always used my tech skills to "set myself apart" in interviews). After three brutal, stress-filled months of the internship hunting process, I finally landed one of my top choices - a Summer Analyst with a top PB (JPM/GS/CS) in a regional office . I have enjoyed following the markets and researching companies since I was young and have worked in customer service since I was 15 years old, so this is truly the opportunity of a lifetime for me. Private Banking attracted me because of the better work/life balance, similar pay to IBD, and great MBA placement as well.

Was wondering if anyone had some insight into the pay at large endowments (Harvard/Yale/Penn) etc...
I know the work is mostly manager selection and outsourcing as oppose to directly picking investment like a traditional AM firm.
Was wondering what the pay scale and bonus would be for someone with 2-3 yrs experience. Especially interested in the bonus figures, as I would expect it to be much lower than a traditional AM firm???

Thanks.

Hi guys:

I received an email from J.P. Morgan inviting me to a 1st round phone interview this week.

My question is, what does it mean that this position is "off-cycle"?

Does this mean the hiring process will be faster than a regular "in-cycle" interview process that normally occurs later in the year?

Does this mean they need a replacement ASAP?

Thank you!

Came across an analyst position in asset management division of PE division of pension fund and I am unsure if this role is MO/FO and also what kind of role this is. If you guys can give me some insight, I would appreciate!

This position is responsible for monitoring portfolio cash flows and has the authority to request and distribute up to an authorized limit as a result of capital calls, expense payments, dividend, currency hedge cash inflows/outflows, interest, etc.

The successful incumbent will support and coordinate new deal funding, support investment, legal and financial structuring, monitor investment and pool performance, prepare performance information and commentary for reports, and construct and monitor risk proxies, and liaise with the Risk group.

Hey. I had a super day a little over a week for a top AM firm.

I received an email last week saying they are still evaluating candidates and they will get back to by Monday.

I received another email today that they will get back to me by next Monday.

Should I just give up hope?

I've heard they have given out acceptances/ rejections at this point.

I got in touch with an alumnus from my school at an asset management firm (50-150bn) a few weeks ago to inquire about summer employment opportunities. He seemed very receptive and offered good advice while also suggesting that his team is looking for an intern for the summer. He forwarded my CV to someone in HR and they contacted me the next day for a short phone interview.

I'm definitely not getting ahead of myself here - just curious.

I'm against the MBA given the sticker price and opportunity cost but I'm always willing to admit I'm wrong.

So I have two question - what types of school would such a potential profile be competitive for and what would be the benefit?

Potential profile:
3.7+ GPA Big 10/ Top 10 undergrad (honors/distinction) in finance/accounting
2.5 years of SS ER at elite MM firm
2.5 years of BS ER at BB AM
GMAT ~750
CFA chartholder

My initial thought is that someone with ~ 5-years of experience who has the ability to get a real P/L (or has already started one in the last 1-2 years) won't really benefit from an MBA.

Hey everyone.

I'm looking for a summer internship in asset management firm. What places are still accepting applications that I can still apply for?

I realize it's a bit late in the game, but I'm realizing that I'm a much better candidate for asset management than other positions.

Any thoughts or experience with Permal's Asset Management Investment team for summer internship? How would an internship there compare to regular AM and how does it rank in terms of interestingness/prestige/exit opps?

Thanks.

Although this is RE related, I am thinking maybe those on the AM side would have a solid opinion.

The consensus is that acquisitions, from a pay and exit op standpoint, is superior to asset management.

Ceteris paribus, wouldn't the best be a little of both (more eat what you kill style)? What do you think would be a good mix?

70% AM / 30% acquisitions sounds about right to me.

It seems most people exit to the VP/principal level at large (5B+) funds where they have the eat what you kill style shop rather than 100% splitting acquisitions and asset management. Would the exit ops be superior and more diverse with experience on both sides? Can you really get a top acquisitions gig without proving yourself on the AM side at some point?

The consensus is that acquisitions, from a pay and exit op standpoint, is superior to asset management.

Ceteris paribus, wouldn't the best be a little of both (more eat what you kill style)? What do you think would be a good mix?

70% AM / 30% acquisitions sounds about right to me.

It seems most people exit to the VP/principal level at large (5B+) funds where they have the eat what you kill style shop rather than 100% splitting acquisitions and asset management. Would the exit ops be superior and more diverse with experience on both sides? Can you really get a top acquisitions gig without proving yourself on the AM side at some point?

IB is easy, i just look for "investment banking analyst" and bam! but asset management has a million different roles and I don't know how to interpret them.

I'm trying to look at asset management positions where you analyze companies, build models, report to a PM if it's a fund...but the job titles are all unique.

what key words would i be looking for in the title or description so that I know I'll be doing a DCF on a company and not just doing the accounting for a fund

thanks

Just wanted to get a GENERAL discussion here - If you could look at 5 pieces of information from a company, what would ask for and why? Assume this is for a dedicated long or short. Interpret "pieces of info" however you'd like...

What are your runner ups?

I don't have much professional investing experience but I'd say

1) CFROI, earnings, forward PE ratio against industry average (scatter plot preferred over comps sheet)

2) timeline of stock price and PE ratios and major news events of both company, competitors and overall stock market

3) analyst estimates (table format)

4) graph historical eps, revenue, and their growth rates vs market growth historically (linear plot)