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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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.
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.