Hi everyone - I'm currently an investment banking analyst at a bulge bracket bank in a fixed income capital markets role. I'm interested in moving into an investing role (most likely at a BB asset management arm) but have a couple of questions about how this would compare to my current role given I'm fairly happy where I am now.
I anticipate the work to be more interesting than banking but recognize that at the junior level it won't be magically intellectually stimulating for the most part.
My main questions relate to compensation and lifestyle for a senior analyst/junior associate in a bulge bracket asset management role:
-My hours tend to be 12-14 hours per day as a second-year banking analyst. Should I assume generally around the low end of this or even slightly less?
-My first non-stub full year compensation was ~$90k base + 50-75% bonus broadly speaking with an expected bump to ~$125k in around a year and a commensurate higher bonus. From reading a few other asset management posts on here, this seems to be more than the typical top end for asset management roles, which are often described as similar salary to banking but ~30-40% bonus on the high end at the more junior levels. Does that seem accurate? Assuming salaries are comparable to banking, what kind of bonus/all-in compensation would a senior analyst or junior associate make somewhere like JPMIM/MSIM/GSAM (assuming fixed income if that makes any difference) in a typical (no downturn but not incredible) year and how does that evolve over several years?
Thanks in advance for any help - I searched around for awhile but didn't find any posts that satisfactorily answered these questions, but happy to look at links if anyone knows of any helpful ones.
Hi puvbu, any of these threads helpful:
If we're lucky, maybe I can guilt some users to help you out: BillyRay05 soumya.imca06 TacoBellMan
You're welcome.
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My wife's group works closely with one of the three Asset Management arms that you have mentioned. APAC region so may be different but she says: (she does have some some input from other office personnel) Hours will vary greatly within groups and bosses. Wouldn't be surprised if you leave around 8pm everyday but there are lot of groups that work till around midnight. One of the bigger reasons will be, if, you are managing a global mandate. The people me and my wife knows at the BB AM does banking hours due to inter-region communications and demanding reporting. c. 20-30% bonus seems like the norm for the industry, including BB AM arms.
However I know BB AM analysts who got 50% of base. One guy commented that it's comparable to IB now because of the AM arm's recent profitability.
Also you have an advantage because you're currently earning banking comp. You may have negotiating power to keep that salary (higher than your AM peers). Know a girl who managed to keep IBD salary through internal move.
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