Asset Management Recruiting - When Do AMs Usually Recruit?

Based on the most helpful WSO content, here's what you need to know about the recruiting timeline for large asset managers like T. Rowe Price, BlackRock, and Fidelity:

• Internship Programs: Almost all major asset managers have junior internship programs. This is likely your best shot at directly entering the space.
• Recruitment from Intern Classes: Many of these firms hire most of their full-time employees from their intern classes. For example, Wellington did not take applications from rising seniors one year because too many interns accepted full-time offers.
• Class Sizes: The number of hires can be quite small. For instance, T. Rowe Price's fixed income associate program hired only 3 seniors in the country in a given year.
• On-Campus Recruiting (OCR): Some top asset managers hire through OCR and other direct-from-undergrad means, but many have ad-hoc recruiting practices.
• Target Schools: Notable asset managers often recruit almost entirely out of top target schools. If you are from one of these schools, utilize on-campus recruiting and resume drops whenever possible.

In summary, the recruiting timeline for large asset managers typically revolves around their internship programs, with a significant focus on hiring from their intern classes. It's crucial to leverage on-campus recruiting if you're at a target school and to apply early for these internships.

Sources: How competitive is it to get asset management out of undergrad?, Breaking into long only Asset Management, Why Work in Asset Management?, Life as a Top Asset Manager, Asset Management vs Investment Banking 101