Career Path Advice (Please) - Investment Analysis
I'm currently a sophomore undergrad at Villanova, aiming to major in Finance. I've only started doing serious and specific career planning recently, so you'll have to bear with me just a bit. For reference, most of the BB's recruit through Villanova in some capacity. I'd call Villanova semi-target I guess.
I know I want to get into some sort of investment analysis (probably equity/portfolios) and I don't really have any preference whether it be in PB/PWM or with an institutional fund. I just want to be one of the people who analyzes companies/stocks/industries, maybe does some financial modelling, and ultimately aids in the decision of what the best investment options are. Also, I live in Philadelphia and I am not committed to re-locating to NY at this point, so keeping this in mind when replying will be helpful (i.e. if your advice is more NY-specific, please state so).
With that, I will present my concerns in number format and feel free to address any of them:
(1) In a general sense, how hard is this field to break into straight out of non-Ivy undergrad (assume a good resume)? For PB/PWM, I know BB's like JP Morgan have rotational analyst programs for fresh grads, but my question is exactly how competitive are these?
(2) Do most regional offices (for BB's) even offer the services I'm looking for? I'm fairly sure that JPM in Philly does, and I know Goldman Sachs in Philly does at least PWM.
(3) What would be a more helpful summer internship (between sophomore and junior year): a more traditional analyst role at an AM group (Aberdeen Asset Management) dealing with equities and fixed incomes, or a summer analyst position with Goldman Sachs in PWM (but basically dealing with the client relations aspect as opposed to actual analysis, which isn't too relevant)? Does the GS name outweigh the actual experience I'd get elsewhere?
(4) Is there a common career path that would lead to being a full-time analyst for a mutual fund (i..e Vanguard)? What's the pay for someone in this position?
(5) Does anyone know of particular companies (other than the typical PB's) that offer the analyst positions I'm seeking, in Philadelphia? If so, do these companies hire undergrads in this capacity?
(6) If I were to become a full-time analyst working with investments, what are the exit ops after several years?
(7) Is a Masters of Science in Finance relevant to what I want to do? Would that make it significantly easier to break in as an analyst, or would you describe that as a waste of money/time?
(8) If I had an inside track into a boutique IB (doing the typical IBD sort of thing), is that something I should pursue in order to get to the position I really want?
(9) How does investment management/analysis tend to work at BB's that already have full Equity Research divisions? It seems there is some overlap, and I'm having a little trouble organizing this all in my mind (considering the huge range of shit done at places like JPM).****
(10) Can institutional asset management lead into HF? (yes, I already read that article on Mergers&Inquisitions)
(11) If you had to recommend one path, would it be within PB or within a more institutional fund? How would these differ in comp and atmosphere?
Ok, so I'll leave it at that for now. Again, remember that this is not in NY. I appreciate anyone who will take the time to read through this and provide any feedback.
**** For the record, I know this is the AM forum but I'd like to point out that everything I read about sell-sidesounds perfect for me. The reason I stopped looking into that is because it seems (from my perspective of limited knowledge of the industry) ER is largely centered in NY and the other "major" cities (i.e. not Philadelphia). If anyone has any insight into this, I would certainly welcome that as well.