The Wall Street Oasis Asset Management Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the asset management industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please...
|0||10 months 1 week ago|
After a few years as a Sales in a big Asset Management firm + the CFA, is it possible to become a Portfolio Manager? ...
|4||4 min 57 sec ago|
What are the regulatory hurdles to starting a financial advising firm? I also don't have my series 7 and series 66 licenses? How do I obtain those licenses without a sponsorship? ...
|7||7 min 30 sec ago|
It's about time I do another post on here and rather than go into detail on a specific aspect of the industry I'm just going to open it up to a general AMA. The E&F (and asset allocators in general) industry is sort of a black box. Most people don't know a ton about the industry and it isn't nec...
|30||48 min 31 sec ago|
WSO Primates, I am currently a VP at a small buy side bank located in NYC. We do some middle market lending and are a buy side firm in the broadly syndicated loan space (middle market and large corporates). I work on a small investment team, we select, underwrite, and manage the loans, sort of an al...
|19||7 hours 59 min ago|
Hey guys, I have a interview coming up at a boutique AM firm (equities, futures, macro). I am a freshman/sophomore w/ 3 summers remaining before full time (including the upcoming one). Was wondering what kind of behavioral/technical questions would potentially be asked. I'm thinking the typical: tel...
|4||8 hours 22 min ago|
Does anyone know what the online tests for JPM WM in Asia consist of? I have a test this week and would appreciate any insight. Thanks! ...
|0||10 hours 28 min ago|
Hi guys, I did my undergrad at a top Indian college (think #1) and then straightaway enrolled at an MBA program in India (Indian Top 5). I had interned at a top consult (think McK, BCG) and subsequently joined Goldman in their Asset Management division as a multi asset macro trader. After a couple o...
|20||10 hours 32 min ago|
Hello, I am a recent graduate from a non-Target school with a sub-par GPA and no financial work experience looking to eventually break into the field of Asset Management (Hedge Funds, Buy Side, Sell-Side, etc). I have been working at a back office of a broker dealer for the past few months to get my...
|3||13 hours 36 min ago|
Greetings my dearest monkeys, This monkey needs some advice. I am currently interested on seeking a career on the Asset Management field. The reason for this is that since a very young age I have been fascinated by the markets and the way the assets behave based on the ever changing factors of the w...
|7||20 hours 1 min ago|
What is the salary progression at a traditional asset manager (e.g. BlackRock, Fidelity, M&G)? As far as I can tell, first year base is around PS40,000 and 20 - 40% bonus. How does this change as you move up the firm? From reading a few threads here, it seems the pay is quite low even as a PM. ...
|10||22 hours 27 min ago|
Has anyone heard about the CFA Investment Foundation or hold the certificate? if so, is it worth pursuing? ...
|1||1 day 2 hours ago|
Hi all, I currently work for a Financial Advising Wirehouse in Orange County, California. The team I intern for has about $650AUM divided between 2 FA's and a CSA. The life of every FA in this office seems pretty sweet. Averaging maybe 35-40 hour work weeks, assuming a comfortable salary based off t...
|3||1 day 6 hours ago|
Title says it all. Trading structure/strategy can be as complex as you'd like, but the money has to be put toward just one "bet." For example: shorting a call on a Euro stocks index and going long on EUR/USD puts to invest in the idea that the Eurozone will fall. ...
|37||2 days 11 hours ago|
|1||3 days 12 hours ago|
I'm a semi-quant rates guy who is interested in learning more about Fixed Income buyside. I'm interested in joining a fixed income AM or HF. I have an ok understanding of macro credit, oil/financials, etc. But for more micro stuff like retailers, I'm utterly clueless. I know bond math and macroecono...
|3||4 days 4 hours ago|
Wanted to get WSO's opinion on which valuation book (Rosenbaums, Damodaran, McKinsey, TTS etc.) is the best from a practical perspective. Basically, I'd like to work on my knowledge of corporate valuation/finance to apply in a value investing way, so definitely looking for something that would give ...
Great White Short
|7||4 days 9 hours ago|
Just had my superday at BlackRock for Trading and Liquidity Services for their iShares Fixed Income ETFs. I think it went well but it got me thinking what the path is like to Portfolio Manager, whether it's for an active or passively management fund. I'm going for my CFA Level 1 this June and plan o...
|3||4 days 18 hours ago|
|37||4 days 23 hours ago|
|2||5 days 8 hours ago|
Hi, I'm working in one of major US bank as FX trader (VP), but would like to move to Asset Management companies such as BlackRock/PIMCO/Fidelity/Templeton/etc. I think it will not be that easy to smoothly move to the industry, so I'm thinking of below.. going to MBA getting CFA both Which one would ...
|6||5 days 22 hours ago|
I'm currently insurance sales agent and investment advisor for an independent marketing organization. I offer investment advice, sell annuities and mutual funds, and I supervise a team of over a dozen agents to make annuity and mutual fund sales. Does this count as relevant work experience for the...
|2||5 days 22 hours ago|
I've always wanted to work at a sovereign wealth fund, maybe Alberta Heritage or Oljefondet, but I was wondering if anyone had done or knew anyone who did an internship in a sovereign wealth fund? How would that even work, with all the sensitivity of the data and stuff? Am I right in believing that ...
|0||5 days 23 hours ago|
Hey guys, Many of you have heard of how Gillette is planning to slash prices to compete in the razors & blades space with newer competitors. I was potentially interested in buying in (to P&G since they own Gillette), but find myself questioning whether it is worth it. Since P&G owns a la...
|4||5 days 23 hours ago|
I got invited to a networking event through my school called "Meet the Firms" where potential employers for accounting and finance firms will be present. The whole purpose of the event is just to meet potential employers and I do not need to bring a resume. I need help choosing "good" questions to...
|0||1 week 5 hours ago|
Hi everyone, I'm an external wholesaler in a major metro market. I saw a number of posts regarding this field so I figured I'd do a AMA to help those interested in this field. fire away! Just an FYI, don't get discouraged if after a week or so it takes me a little while to respond, I'm In sales...qu...
|30||1 week 6 hours ago|
Passive investing seems to gain more traction daily. What are your thoughts on Vanguard as a firm? The organization generated $111 billion in net cash-flow in the first quarter alone. ...
|1||1 week 8 hours ago|
Hey everyone, I graduated last year with a B.S. from Berkeley-Haas and currently working for a major payments network/financial institution - you can guess the one. I am at a bit of a cross-roads in my career (first job, coming up to 1 year mark), deciding on my next job. My current job is more of a...
|1||1 week 20 hours ago|
Does anyone have any advice for interviewing with Goldman's Asset Management arm and specifically their PE Fund of Funds arm? Any advice for interviewing with PE FoF, for that matter? Thank you! ...
|1||1 week 1 day ago|
Has anyone heard back yet? For some reason they opened this application up really late (a few weeks ago). I was under the impression that all banks were done recruiting for the summer of 2017 but I guess UBS AM filling positions? Anyone else apply for this..? ...
|12||1 week 1 day ago|
Hello WSO, I'm graduating in 3 semesters from a B school in NYC. I love sales and enjoy cold calling. I make up to 500 dials a day selling merchant cash advances and cc processing. I do want to transition to something 'cleaner' though. What is the current state and future of financial advising? What...
|0||1 week 2 days ago|
I wonder how provoking are these "insights" from Bill Gross dated April 13th, 2017. Brainteasers...https://www.janus.com/insights/bill-gross-investme... ...
|1||1 week 3 days ago|
I am currently trying to break into the AM industry in my senior year (next school year). Obviously, the top firms like BlackRock and Fidelity will be difficult for me to get into. So, I am trying to figure out the different tiers of AM firms and apply to all of them. I was just wondering what you g...
|5||1 week 3 days ago|
Hi guys. So I am currently a junior in college looking to enter into the AM industry for full-time after my senior year. I am from a target school with a 3.82 GPA, double majoring in Econ and Com Sci, and pursuing a business certificate. I have invested around $10,000 in the stock market for over a ...
|7||1 week 5 days ago|
Bank accounts available in HSBC Hong Kong for funds transfer / funds management. Contact for complete details and charges. ...
|0||1 week 5 days ago|
|7||1 week 5 days ago|
Not much of an academic scholar and pursuing this task would not be beneficial at this stage. I've decided to call upon the wisdom of the WSO guardians. Question: Why is 15 the long term average P/E for the S&P 500? How did this number come to be (don't go for the easy answer pls)? At what point...
|2||1 week 6 days ago|
So I have been in BO ops for 7 years now. I have series 7 and 66. I was in an entry level ops job that was boring and repetitive. I've recently moved internally. It was a lateral move, so roughly same pay just different job. I am now in a business governance type of position (although still BO work)...
|4||1 week 6 days ago|
In the final running for 2 diff roles- I want to take company/location out of the picture. I am having hard time making a decision because the pros for one role do not necessarily translate into a con for the other role Which one would give me better exit opps or is better in the long term? I am thi...
|5||1 week 6 days ago|
I had a super day for a wealth management position. I still haven't heard back. The interview went well, but we weren't told of a time line. Should I be freaking out/ when should I reach out to HR. ...
|0||1 week 6 days ago|
Hey, I was just wondering if you could shed some light on this topic. So I'm currently going to the buy side and was wondering if there's any point to go from buy side to sell side if my end goal is buy side. E.g. Buyside entry analyst -> MBA -> associate ib -> buyside more senior position ...
|1||1 week 6 days ago|
If I can't get a job in AM right after graduation, what jobs would allow me to break into AM within the next few years? Would jobs in corporate finance work? What about stuff that's not in finance, but is analytical, such as market research? Would finance sales jobs allow me to make the transitio...
|96||1 week 6 days ago|
Last year, we had this thread about what robo-advising offers and how it could affect PWM careers going forward. I just came across this article on the current state of robo-advising, and I found two points that were really interesting. First, it talked about the business model of robo-advising, whi...
|1||2 weeks 2 hours ago|
Currently a freshman at a non-target school. In the past week I have been in contact with an alum at a BB firm in the WM sector. This alum actually offered to mentor me. But, after meeting and spending a few hours with him I discovered that he is very focused on trading and technical analysis in ...
|0||2 weeks 3 hours ago|
What is the difference between a business valuation and a business appraisal? What types of value are used in business valuation? If I give my son or daughter stock in my company, do I need a business appraisal? ...
|0||2 weeks 13 hours ago|
Offer from BlackRock. I am graduating in May. Thoughts on this as an entry level position? How much should I weigh brand name like BlackRock versus the back office stigma? ...
|1||2 weeks 1 day ago|
Has anyone heard back from PIMCO yet for their portfolio management summer analyst position? I got an email roughly 10 days ago saying they have delayed their recruiting by a few weeks and will be giving first round interviews early in March. Just was kind of curious if many people got this or if ...
|10||2 weeks 1 day ago|
Getting ready to start an internship at one of the above AM firms this June, and was wondering if anyone could comment on how hours are for those firms as an UG Intern in the summer. No one from my school has recently gone to them, so I don't really know what the expectations are for interns, or how...
|4||2 weeks 3 days ago|
Hi guys, Does anyone have any experience with the banker team structure at Citi's PB? My understanding is that it's composed in the way I list below, but is this correct? Also, what's the difference between an Associate Banker and Banker Associate? Is one better than the other? Are the Associate rol...
|0||2 weeks 3 days ago|
Hi all, I'm an experienced credit professional with a background in credit underwriting, lending and risk management. I have an offer for a fixed income credit analyst position within Asset Management at a Japanese bank in London. I'm interested because its within Asset Management buy-side (an area ...
|2||2 weeks 3 days ago|
After working through a similar strategy to break into AM from a non-target liberal arts school, I've landed a gig at a BB AM alternatives desk for the summer, and I'm hoping to make a career of it. As such, I have been doing my best to supplement my econ BA with my own reading/studying in finance, ...
|1||2 weeks 3 days ago|
Hello there, I'm currently setting out on doing an assignment for a portfolio theory class. We have been allocated 15 stocks listed on the ISEQ (Irish Stock Exchange) and a choice of indices to choose from - the overall index, financial sub-index and 'other'/general sub-index. The period of monthly ...
|1||2 weeks 5 days ago|
Any insight in the culture at Mellon Capital? More focused on their PGH office and the fixed income personnel there? ...
|0||2 weeks 6 days ago|
I am extremely good at forex trading the past 5 years, I'm very good at analyizing real estate and identifying opportunities in real estate, and i have stared analyzing stocks for long term growth. I just want some money invest. But im very poor with little education and little chance of higher educ...
|5||3 weeks 1 hour ago|
I'm about to graduate from college and have been recommended to Jackson National through a mutual friend. I like the idea of internal wholesaler/transition into external but don't know a lot about the annuity business/current market since interest rates are still at historic lows. Any thoughts or co...
|0||3 weeks 2 hours ago|
What is a client reporting analyst at an asset manager? Day tp day and exit opps? Any help appreciated. ...
|0||3 weeks 8 hours ago|
Hi all, I have a super day next week with a PWM group at UBS. The interview is for an entry level analyst position. The point of contact said be prepared for the interview to last about 5 hours. This is my first "super day" of this type and was hoping that some of the experienced people on here coul...
|4||3 weeks 17 hours ago|
Anyone have an estimate of the bonus range for a BB Private Banking Analysts (1st,2nd, 3rd year) in a NY office? I don't need specifics or perfect accuracy, just general estimates cause frankly I have no idea what would be normal here. I'd very much appreciate any insights here. ...
|3||3 weeks 1 day ago|
|15||3 weeks 1 day ago|
Hi everyone, I have an upcoming interview with a well-known multi-billion AUM Direct Lending fund / BDC. I'm currently a 1st year in banking and this opportunity is for a summer 2018 start. I searched the forum but there is little information on what to prepare for an interview. The credit space is ...
|0||3 weeks 1 day ago|
|9||3 weeks 2 days ago|
Hi all, I am looking at the Client Solutions Associate role on the portfolio management side at BlackRock India. Given it's an offshore office, I want to understand the policies of BlackRock on mobility to global offices. Anyone here who can throw some light on the BlackRock's mobility policies? All...
|0||3 weeks 2 days ago|
I have a interview with J.P Morgan where I have to answer 4 questions on video, but there is not an interview on the other side. Has anyone had any experience with this? ...
|73||3 weeks 3 days ago|
I consider myself fairly "tech savvy," but for the life of me I can't figure this out... Is there any way to print a 10-k (or q, for that matter) such that it "fits-to-page" on an 8.5x11? I read a lot of financial reports and every time I download and print one from Edgar, there is a page break (hor...
|6||3 weeks 3 days ago|
Background: Studied accounting and finance at a well known public school (think UT, UM, UW, etc). I'm currently have a BO job at an investment management firm, and will be taking CFA level 1 in June. I would like to be a PM one day and attend a top MBA program but not really sure what would be the b...
|2||3 weeks 4 days ago|
Looking through many of the message boards it appears this is the place for PMs, analysts and investment banking people to hang-out but here is what I'm looking for and hopefully someone can point me in the right direction. I'm in the Boston area and I have experience growing small institutional in...
|3||3 weeks 4 days ago|
Starting a summer internship with JPM Investment Management this summer. Don't know what team will I be in exactly yet though. How should I better prepare myself? What are the kind of technicals that I should better familiarize myself with? Are there any specific sites for AM where I can read up on ...
|5||3 weeks 5 days ago|
Hi guys, Just got an email for first round interview with PIMCO SA program - Portfolio Analyst position and specifically for Trade Support group. Anyone who went through the process before can help me shed some light? Also, what exactly is Trade Support and what is it like at PIMCO? Many thanks ...
|2||3 weeks 5 days ago|
I'm currently a Account Executive for a top Social media firm "LI" and I am debating whether or not to leave the tech industry to be a Wholesaler ? Any thoughts? ...
|11||3 weeks 5 days ago|
|15||3 weeks 5 days ago|
Hey Everybody, Created a throwaway account to discuss - what are your/industry throughts on Neuberger Berman? Secondly, how do you think this name will fair on b-school applications - as it is 'well known' within the industry but not a household name, Thanks ...
|0||3 weeks 6 days ago|
Hey, I applied for several summer internships and got my first rejection today. Just as a bit of background I am not going into this blind. I have traded privately for 4 years and upon discovering a reading list from Goldman actually realised I have already read most of it under my own volition. I t...
|6||4 weeks 8 hours ago|
Hi everyone, First time posting in this section, but been an active reader. I'm currently a mid-level associate at a BB, and I'm increasingly looking to move to the buyside before its too late. I've been approached for associate roles at large pension funds (think CPPIB/CDPQ). Given I don't know any...
|14||4 weeks 9 hours ago|
I'm currently about to wrap up my 2nd year as an analyst at one of the big 5 Canadian investment banks. I work in one of the top teams for my coverage area in Toronto. I'm currently looking at what my exit opportunities could be, however. One on the one hand, a lot of my colleagues seem interested i...
|1||4 weeks 9 hours ago|
What is the compensation for a junior trader with 1 year + experience in a boutique LO AM managing approx USD 25-35bn? ...
|0||4 weeks 9 hours ago|
I've picked up an interest in Asset Management and private wealth management recently, and I wanted to know if it would be better to work in BB or boutique. Some people have told me that boutique would be a better experience in terms of work life, but after doing some research, I have come to the co...
|3||4 weeks 17 hours ago|
Hi, WSO - seeking career advice. My ultimate goal is to work in a wall street firm (even a little boutique firm would be ok). My background is as such: Ridiculously crappy school---> graduated in accounting --->work at a mid tier CPA firm as an auditor (not Big 4) Due to my language skills a r...
|2||4 weeks 19 hours ago|
Hi WSO, I am currently sitting on two offers for next summer. I am currently a junior in college so this will my summer going into senior year. The first offer is within JPM. It is in their Alternate Assets group (JPMAAM) and with their Hedge Fund Solutions Group. I will be working in a CPM (Client ...
|6||4 weeks 23 hours ago|
Does anyone know if you can hold a real estate license and work at a mutual fund company. I'm sure it varies depending on your companies compliance, but didn't know if anyone may have some experience with this. Thanks! ...
|0||4 weeks 1 day ago|
I am a sophomore looking for a way to differentiate myself and stand out from the pack. My goal is to obtain a summer internship next year in Asset Management. Is the $295 for a financial modeling class worth it? How can I use a financial modeling certification to my advantage? ...
|4||4 weeks 1 day ago|
Would you pitch a commonly known stock during an AM interview (like in S&P) , or a no name stock? ...
|11||1 month 1 day ago|
Hello, was wondering what a junior investment analyst in the ABS group within a fund does on a daily basis? How good is it in terms of skillset in couple of years time? (ideally non-performing-loans sub group in places like Apollo, PIMCO, Fortress etc, would be great) Thanks! ...
|0||1 month 1 day ago|
Read an interesting article regarding BlackRock robot stock-pickers posting record losses. As we all know, more and more Asset Management companies are turning to artificial intelligence to help with stock picking. In the case with BlackRock, Laurence Fink invested $78 billion in a quant team to d...
|15||1 month 1 day ago|
|23||1 month 2 days ago|
I was wondering if there is a ranking which only considers Asset Management. Every ranking of the largest asset manager include their private wealth business and since banks have usually a larger PWM compared to companies like PIMCO or BlackRock which focus more on institutional clients. Is there a ...
|0||1 month 2 days ago|
Has anyone been to a PIMCO superday? I was told that there will be 4-7 rounds of either 1 on 1, or 2 on 1 interviews, but besides that I don't have a clue besides behavioral questions and questions regarding the market and the economy. It's coming up soon so any advice would be appreciated. For a S...
|1||1 month 2 days ago|
Hi all, I have questions regarding the role and the team. Is this a good team to work for? What do the responsibilities entail? Does this role lead one to be a portfolio manager in, let say, 5-10 years? How much compensation can one expect for this role? I know I asked a lot of questions. It would b...
|0||1 month 3 days ago|
Hello everyone! I am a new member on this forum, I came here because I face some uncertainties concerning my future career. I am a penultimate year student in Finance in a small French university and I aspire to work in a big Financial firm in the Asset Management field. However, since my school is ...
|0||1 month 3 days ago|
I know the topic of active vs. passive has been discussed in great detail on here, but I would like to know if active management is still a smart career choice. Sometimes I feel like the decline of active management is exaggerated, but when I read about all of the outflows, I feel inclined to believ...
|24||1 month 3 days ago|
I know with FATCA US citizens have to report offshore accounts and shares in a PFIC to the IRS, and even UK citizens have to report their financial holdings if their within a nonreporting fund to HMRC, so why would US/UK citizens put money in offshore accounts or investments? Are gains from 0% incom...
|0||1 month 3 days ago|
I've been working at a wealth and investment management firm for two years on the corporate side of the business. We manage about $100 billion in assets, so it's a decently sized firm. Before that, I worked in real estate finance for 3 years at a private real estate investing company. I transitio...
|0||1 month 3 days ago|
Hello everybody, I'm currently in a MSF program set to graduate in the spring. I am thinking about taking the CFA level 1 exam in December becuase I don't feel like my MS degree is really helping my chances of finding a job. Would this just be overkill or would this actually help me stand out? ...
|12||1 month 4 days ago|
|29||1 month 5 days ago|
Hello, I currently work in Finance for a healthcare company. I'd like to continue my studies in risk management and eventually get into regulatory or hospital risk management. Which exam is best suited for me? FRM or PRM. Also, with FRM I would have opportunity to go into banking/investments. I don'...
|0||1 month 6 days ago|
Are there any good books or blogs to learn about high yield investing? Would be for a buyside job at a mutual fund company. I've read about Moyer but it seems more valuation/restructuring than what an analyst looking for high yield securities at a PIMCO/BlackRock mutual fund would be doing. Thanks ...
|5||1 month 6 days ago|
Whether you're managing your portfolio for yourself or for someone else, here are 20 balance sheet ratios you may want to be aware of. Thoughts? Solvency Ratios 1. Quick Ratio = (Current Assets - Inventories) / Current Liabilities 2. Current Ratio = Current Assets / Current Liabilities Debt to Eq...
|16||1 month 6 days ago|
I have an offer from MBB (post MBA) and an offer from a long only public equities fund based, both based in London. I need help with choosing between the offers. I do not come from a finance background but they are recruiting me for my sector specific expertise (got contacted by a headhunter and tha...
|7||1 month 1 week ago|
Hello Everyone, I was recently scrolling through American Century Investments' website and noticed that the company devotes a portion of their fees directly to Cancer Research. Their "Prosper with Purpose" business model is something that's made me really appreciate the company. Are you familiar wit...
|3||1 month 1 week ago|
I used to believe in technical analysis. It went against the mainstream, it was easy to implement, and it had strong, compelling arguments to support its validity. Or so I thought. For example, if Stock A is selling for $8 on Monday and goes up to $12 by Wednesday, many investors will regret not hav...
|35||1 month 1 week ago|
"Fund houses turn against investment consultants" I don't work in AM or any form of the consulting branch for that matter but there was a discussion in the area which I listened with great interest. In the UK, the FCA is seeking more regulatory powers over investment consultants from the concerns of...
|2||1 month 1 week ago|