I've been trying to reach a decision over the past couple of days - IM or IB. The question I can't seem to find a good range on is, what is the salary of an Investment Analyst (1st Year) at a large Asset Manager?
State Street has the largest AUMs - but at the same time, Vault's answers are only coming up in Fund Accountant - far, far, from what I'm trying to find. Does anyone know the answer as to what is a common salary + bonuses for a recent graduate to enter State Street Asset Management?
I'm looking for a path to PM excluding IB MBA Exit Ops.
For someone looking to work as a PM, is there a certain institution working at buy-side that would prove more advantageous than Street Street?
Thanks!
One thing to know is that the pay in IM is generally much lower than in IB. The difference in total comp is quite dramatic, as is the difference in lifestyle in these two careers.
I was an investment analyst in my former life; I'll be happy to talk offline if you'd like.
Hi,Rickets
Can we talk offline? I do have some question to raise. Many thanks.
I sent a PM also - anything would help.
Thanks!
PM me
If you want to be a vanilla PM then it would not be a bad move.
bump
any word on pay at state street for their global markets division? Thanks
i actually interned in their global markets division, and the individuals over there are compensated nicely (not investment banking pay, but it fits the bill).
Asset management at a BB starts at 60k+10 sign-on+performance which varies (fy) 15-25k. 95k potential for first year, working 8:30-6:30...
Same exit ops to b-school, everyone from my BB this summer that left went to top schools... so, enjoy your twenties and roll into AM and you can always switch to IB later if you really need the $$.
I didn't realize the bonuses were that large. I'll take 95k for normal working hours any day of the week...
i read on vault's message boards that state street pays really low (like 30's), but I have no idea what position those are for. It may be really low level back office stuff or something.
Also, why would you not start in AM if you want to be a PM.
well, that is also top bucket and only 2 people got that supposedly at the BB i interned at. But still, 85k for the hours (bottom bucket) is nice for the life... and I was told to expect typically a 5k increase in salary for each analyst year and a 20% increase in bonus(one person told me he got this... didnt ask anyone else) each year.
look for 55 and maybe 10 for first few years. start working on cfa
yeah thats what i was thinking, more around 55, especially for state street. i guess the sky is the limit as you advance in the industry and go to harvard mba. does anybody know what an IM salary would look like after 5 years for those that don't aspire to attend harvard?
on what side of the biz your on. If research then you will make more early.... if on a PM track... you can knock out the cfa in first 5 year while working some kind of support. if you can get cfa in 5 years you could become a junior pm making from 65-85 w. bonus on the public side and 75-100 on the private side.
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