Best Perks & Benefits: AM
I saw a thread for IB and PE, interested if AM has anything similar at the shops y’all are at. Or is the WLB the sole perk?
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Surprised by the lack of responses, does AM really have that few benefits vs. PE/IB?
the AM forum is pretty inactive relative to IB/PE
Did banking and AM.
So far the work in AM is more interesting, hours are better, the people there just feel smarter (banking MDs are first and foremost good networkers, AM PMs love and study the markets), client relationships in AM are less transactional (literally), many AMs have good benefits when it comes to coinvesting in their funds at higher levels, comp is high at high levels (AM has more comp inequality than banking. Partner at Wellington or a MD at PIMCO is making banking MDs look impoverished), name brand AM is often band 1 for MBA recruiting, on and on.
I am very biased though since I left banking after 6 months in a not very fun environment to a very good AM I have loved so far.
Very interesting - thanks for sharing. Any colour you can add on perks/benefits etc? I previously did banking too, and you could get meals after 7 and taxis after 9. During the lockdowns some banks (ex. GS) would also pay for taxis to and from the office everyday regardless of time. Anything similar in AM or are these benefits more of a IB/PE thing?
I really think you’re missing the point and looking at this from the point of view of a toxic IB work environment. An Uber home at 1am and eating at the keyboard at 8pm is not a perk, it just makes the job marginally less abusive.
You don’t get dinner at 8pm because you’re not in the office past 8pm. Instead you eat dinner with your partner or friends. You don’t get a taxi to/from work because there’s no FaceTime and you’re not forced into the office.
Beyond the great WLB, the perks in AM blow IB out of the water. The benefits (401K, etc) are far more generous. The people are incredible. There are tons of after work events that are free / firm sponsored. There are countless professional development programs and learning opportunities. People are generally understanding and flexible. The list goes on.
This is pretty much spot on. I agree with all of the above, especially the intellectual aspect of it. I will add that as far as perks go, we have lunch/dinner together often and the company puts together some great events for holidays and parties. My firm also subsidizes parking/transit. Also pretty much never have to work after 4pm unless it's QE or some one off request.
Interesting. What is the ballpark for what a partner at Welly or another private AM is pulling in?
We’re you 6 months into an analyst gig or associate gig? How has your pay progression been in AM?
Do some searching, the pros of AM has been covered a lot. The forum's not as active bc there are so few spots open across LO AMs, MFs, and HFs available for undergrads out of college. There's a reason why Cap Group, Fidelity, PIMCO get to be so selective, sometimes even filling candidates from top BBs in MO roles. Better pay (on an hourly basis and sometimes absolute), more stimulating work, usually better firm culture, etc. These are dream roles that many people to to b-school to have a chance for.
As others have said WLB (8-5:30 with 1hr midday bike ride) and stimulating work are the best perks. At my company we also get fitness stipend ~$500 a year, personal education reimbursement if you want to pursue concurrent degree, up to $1000/month for childcare/private school tuition per kid, couple times a year we’ll get the random new apple toys (ear buds, watch, speaker, that kind of thing), free parking/bus passes.
How big of a firm are you at and what’s your comp?
This sounds amazing. What geography/size shop are you at?
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