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depends. My first job was on buyside IM
hey Monty, can you give us an idea of IM salaries across different levels/firms in general... especially what they are based on and how they compare to ST pay?
this was 4 years ago..hha
FYI I work for a mutual fund , between 400B - 1000B AUM, a good one (Capital Group, Wellington, T Rowe etc)
I entered directly out of undergrad, 1st year base 75k, sign-on bonus 5k, year end bonus 40k and additional 10% of base (7.5k) discretionary into my retirement plan in addition to the matching contribution.
So all in like 125k or so. I am outside of NYC, so tax and living expense is cheaper.
Your company manages a trillion dollars huh? Guess Blackstone needs to step aside! LOL. This guy is FOS.
Your dumb PIMCO.... manages 1000B and it isn't the only one... so do some research before you call BS.
source. http://www.ocbj.com/news/2010/jan/14/PIMCO-surpasses-1-trillion-assets-under-management/
Hahahaha I feel so bad for you....
LOL... this is pure gold
twopaths, what was your job role? quant or equities?
thats a tremendous salary for 1st year... how much was base increase from 1st to 2nd year?
Analyst bonuses are usually around 50% of base. Obviously, base depends on location (twopaths is at the higher end for non-NYC jobs).
I think I know where twopaths work.
yea. PIMCO is known to manage at least 1 trillion, so is fido. there a few
but 125k all in, out of undergrad seems way to high, as a FIRST year? that's seems pretty unlikely
in finance, UNLESS youre in ibanking and have to work shitty hours, 60-80k base is very common
dont get me wrong, if you are ibanking then you should get paid a shit load... i wouldnt take that job even if they gave me a 100k bonus each year. just straight up wouldn't.
I disagree. I made about the same as twopaths my first year. Top AMs pay their entry level employees about the same as what IBD would pay.
what to do, he said he was outside of NYC too? I don't buy that. that's incredibly high... i know fidelity won't pay that much and certainly not t. rowe
Actually, my gut feeling tells me twopaths works at t rowe based on things he have said so far. His pay is also in line with what my friend was paid there his first year.
Also, Fido first year all-in pay is certainly in line with IBD first year. They somehow structure their pay somewhat different though from what I heard (I heard slightly low base slightly high sign-on from an unverified source)
Also, I think you meant BlackRock, the world's largest asset manager by AUM largely by grace of their EFTs, not Blackstone.
Kenny some people will never learn..
Wow- gents arguing about nothing and can't even distinguish the difference between a Mutual Fund and a Mutual Fund Family....yikes. I don't work for a MF, just a Commercial Bank under the PM and was paid 50k out of college, $125k does seem like a lot to offer someone out of Undergrad on a trading desk unless it's a hedge fund and the BSD's are cowboy's and they pay/do what they want. I can't see a MF offering $125k to a 22 yr old kid that knows Jack about trading...you're filing trade tickets, resolving trade discrepancies, etc...but once again I'm from the outside looking in, maybe it's possible but I just can't see it esp out of NYC at a Mutual Fund- I don't care if it's PIMCO, Vanguard, T. Rowe, Fidelity, wherever...
You dont know the difference between the trading department and the research department in Asset Management do you? Twopaths work in research, not trading. Trading is pretty much the least value-added positions in the front office on the buyside. Buyside traders are mostly execution only and only add value via efficient execution strategy. Btw the things you described arent even done by anyone under the trading headcount... those are done by the operations/admin staff (back-office), which 50k all-in a year sounds about right.
Decision makings come directly from PMs, which are largely supported by research analysts and research associates.
125k all-in is on the high end of a first year research associate, but certainly not out of reach for top performers. Just for comparison, BlackRock PAG paid 27k bonus for first-years last year. So all-in, first years in PAG made 70+10+27 = 107k. Granted, BlackRock is in NY, but PAG is not even a real front office position, but a techy middle office risk analytic role.
You know the idea of shut up if you don't know what your talking about....well it applies here.
Career path question - buy-side investment management (Originally Posted: 02/04/2013)
Graduated from Princeton, looking to get my CFA and eventually break into buy-side investment management in equity research or fixed income. I prefer to work on the West Coast (in LA). Is it necessary to get my MBA (thinking UCLA Anderson) or is my Princeton degree + CFA enough to push me through without having to spend exorbitant amounts of money on business school? What do you guys think? I absolutely want to stay in LA.
What do you do now?
Why not Haas or Stanford if you can swing it?
anyone?
it depends on how old you, where you stand in the CFA program, and what you are doing now. Without knowing any of the three, my generic advice is: take the GMAT.
Currently going for the CFA Level 1 exam. I work at a FoHF right now.
Princeton to FoHF? What went wrong? That's a job that state school kids get, no offense.
Um, I did trading but after a year decided it wasn't the right fit for me. What school did you go to, jackass?
GEORGE IS THAT YOU
anderson actually has some surprisingly strong/decent buyside connects in socal from what ive been seeing.
Who are you, shorttheworld? PM me.
Buy-Side Investment Management (Originally Posted: 02/07/2013)
For buyside investment management firms (equity/credit analyst), is it necessary to get an MBA if you graduated from a top school (HYP) and also got your CFA? Is there any benefit to getting an MBA?
Also, what is the typical path to portfolio manager? 2 years research associate, 4 years analyst, then portfolio manager?
Greatly appreciate it!
Please answer!
CFA / CAIA is valued more than MBA from what I have seen intrinsically for buy side analysts that desire to be PM's.
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