Anyone jaded with PM work in AM?
I am currently a junior PM in an AM, deputizing my boss who is the main PM for the book for a client
A lot of my work is helping other people do their work (think Risk, Performance, etc) as turnover is abysmally high in other part of the company.
I do do a fair bit of my own research into current/new positions we have as well (which is enjoyable), but I use my weekends to do that, which is frankly, burning me out. Focus from the top is to tighten up processes and make sure the entire trading process (orders from PM -> execution traders -> market) is air-tight and efficient, which is a lot of ops work, but other depts are simply saying "the PM should clear everything"...
Not too sure if anyone else is facing such things in their work as well?
When I first joined the buyside I was in a PM or bust mindset. After seeing the amount of tedious bullshit that PMs have to put up with (exactly as you describe) I'd be more than happy to stay an analyst my entire life and actually enjoy the work that I do even if the money isn't quite as good.
Bump, am junior PM in a similar situation though with more research responsibilities instead of risk/performance; even though there's a lot of bullshit, I find myself unable to complain given the straight forward pathway to being a PM for a large asset manager. trying to grapple with grass is greener syndrome when seeing my hf buddies
100% I deal with the same thing as a PM analyst and I think what you're describing is the difference between being an analyst and being a portfolio manager. Most asset managers make money based on efficiency (i.e more aum and smaller headcount) so most employees, whether they're front office or not, become process drones doing mindless work. The truth is that there's a major distinction between those that make investment decisions and those that clean up after them. I can see that having the title of portfolio analyst could build toward a future PM role but I personally don't think it's worth the bullshit work you have to put up with.
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