How would you all view BB AM (GS/JPM) vs BlackRock in terms of career progression/mobility, comp, culture, etc? Currently a PB Associate at a BB, may have the chance to move into a distribution/product role on the AM side soon. However, an opportunity has come up to potentially join BLK on a similar team. Between the two, which would be the better spot to spend a few years and grow my career if this is the route I choose to go down?
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Based on the WSO Dataset, when comparing career opportunities between BB Asset Management (like GS/JPM) and BlackRock (BLK), several factors come into play:
Career Progression/Mobility: Both BB AM and BLK offer good career mobility. However, BlackRock, being one of the largest asset managers globally, might provide a broader range of internal mobility options due to its size and the diversity of its operations.
Compensation: Generally, compensation in BB AM can be very competitive, often matching or sometimes surpassing that of independent asset managers like BlackRock. However, it's important to note that BlackRock has been mentioned to lag slightly behind in pay progression at the associate/VP levels compared to traditional banking roles.
Culture: BlackRock is known for a culture that emphasizes technology and innovation, with a significant focus on sustainable investing. It's also noted for a more balanced lifestyle compared to the traditional investment banking roles. BB AM might offer a more traditional finance culture which can be more aggressive and competitive.
Specific Roles: Since you mentioned a move into a distribution/product role, consider the specific team and the role's impact at both firms. BlackRock's large scale might offer a more significant impact in such roles due to its extensive global reach and client base.
Long-term Goals: Reflect on where you see yourself in the long term. BlackRock could offer a stable career in asset management with potential shifts into various roles within the firm. BB AM might provide a robust network and prestigious branding that could be beneficial if you aim to move into more senior positions within finance or pivot to other high-profile financial institutions.
In conclusion, both paths offer valuable experiences and opportunities. Your decision might hinge on where you feel your personal values and career aspirations align more closely, whether it's the innovative and broad-reaching environment at BlackRock or the prestigious and high-stakes world of BB Asset Management.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/eb-vs-bb-long-term-and-exits?customgpt=1, Everything You Need To Know about BlackRock, BB Wholesale Credit Versus MM / Regional Bank IB, Q&A: A2A 2nd Yr BB Associate (Healthcare) Residing in SF, mid tier bb's and eb comparison
Stay BB. Blk grossly underpays and is trying to downsize internally.
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