Hey guys. I'm joining the graduate program of a respectable bank with an AM arm later this summer. We'll be given the opportunity to choose from a list of possible rotations and at the end of the program we'll decide on the team/department we want to join full time. Although I'm super excited to try out all possible disciplines, I'll have to come down to a core selection of 3 departments.
My question is, out of the following possible opportunities, what do you guys think gives me the most flexibility in terms of learning transferable skills and having the best possible exit opportunities if I decide to leave the firm after 3-4 years?
Possible rotations: equity research, credit PM, equity PM, multi-asset PM, AM Sales, Central Functions (think business development, project management, fund controlling), Portfolio Risk Management.
With regards to the different PM positions, I'm unsure whether the job market for either FI or equities really dwarves the other down the line, and whether dipping my feet into a multi-asset portfolio will be perceived by potential future employers as comparable/reasonable when applying for either a FI or equity PM position?
Cheers guys!
I would do one rotation in research, one in PM and one in Sales. This will give you a great feel for the primary front office roles in AM (either managing money or working with clients - institutional, HNW and Financial Advisors). Then you can determine where your interests lie. All of these will lead to significant income opportunities.
Thanks for the suggestion. In terms of a rotation in PM, do you think any one asset class gives me more opportunities in the long run? I'm interested in both FI and equities, but am unsure whether going for multi-asset is viewed differently from committing to one hard asset class.
Don't really have an opinion on that. I would go with whichever you're more interested in. The FI world is much larger and more complex than the equities world. The All assets would likely include alternative investments (PE, HF, REITs, Direct Lenders, etc.) I would probably choose between FI and EQ vs. all assets as I would personally prefer to focus but that's just me.
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