Asset Management - Where do people exit?
Hey guys, had a quick question on where do you people exit who leave LO AM (equities) on the investing side? Obviously the ideal path is to get to analyst and then PM & ride out for life, but the people who don't make it or want to do something different with their career, where do they traditionally go (within the business realm)? What does the pay look like? Finance function of large corporate? Corp strategy? Just something I've been tossing around in my head, would love to hear your thoughts.
Hi hedgehog9, any of these discussions helpful:
If those topics were completely useless, don't blame me, blame my programmers...
The junior people (i.e. associates) genearlly have a lot of options open. At my previous firm, about half the people went to a MBA program. In terms of LT career trajectory, I would say 1/3rd stayed in investment management, 1/3rd went into consulting or another area in finance (i.e. corp fin, occasionally PE), and 1/3rd did something entirely different i.e. a startup, law school, or even getting a PhD.
The people at the analyst level generally have fewer exit options and generally get "locked in" to the career past their mid-30s. From what I've seen, those that stayed in through their mid-40s to 50 had enough to retire / be financially independent and a fair number chose that option. Those that got laid off, fired, or whatever generally had much less attractive exit options and I struggle to think of any in those bucket that went on to do anything great.
What about those from a boutique shop?
Depends upon your definition of boutique, but generally it would match what I described above. If it's a very small firm that doesn't have much of a reputation then your exit options would naturally be more limited.
AM > consulting? how and what kind?
The people I knew that made that switch did so via a MBA program.
Were the guys that got laid off / fired in their mid-late 30s at least able to pivot to doing something that, if not anything great, allowed them to make 150-200k?
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