Comp progress at PIMCO + promotion
Surely they're the undisputed kings of Fixed Income, so I'll take this offer to mean a lot in my career. The position is an entry level analyst in London. First year pay is surprisingly very good for base. I have a banking offer as well.
I'm just left wondering how it'll go from here. Working on global debt is very interesting and the active management approach is quite unique. But in terms of the future, do they promote analysts, assuming they're good? Will they send me to b school again? How high does the comp get at the VP level?
Thank you
Depends on your role/division. They’re trying to build a more clear PM pipeline from the analyst level without b-school but the firm is still quite traditional and likes hiring out of b-school.
Bump. How's the comp for investment research at the SVP, MD, and Partner levels?
Is the entry level analyst role right out of undergrad?
They've recently started taking in undergrads for internships in their Alternative Credit & Private investments division (there was another thread on this). It seems they do a mix of credit and real estate.
Guessing pay in the division is probably in line with other credit MF groups/ real estate MF groups -- but would be useful to hear from anyone there for more clarity.
Got it - I think that's a good benchmark for them but curious to hear as well
The corporate credit investing team in their alts division is small but growing quickly. Their mandate is purely opportunistic and they invest across distressed debt, private equity, and special situations. Heard base is 100K for analysts but curious about comp at SVP/MD levels.
I don't think you understand the meaning of the word undisputed.
Please tell us which firm is more prestigious and has 93% of all managed funds that outperform their benchmarks in the large-scale active FI management industry?
Speaking strictly on comp, PIMCO pays the highest among the large peers by far. Also my data is in the US so take that with a grain of salt. Senior analysts, so that VP level, probably is in the range of 700k all in but could push higher if you perform exceptionally well. It does take a decent while reach that level though. Probably you'll be in your early to mid 30s before you get there. I speak in generalizations cause I never worked there but heard of experiences from people that I knew that worked there.
Do you know the comp estimate for entry level analysts?
Are you talking straight out of college with an undergrad degree or with a MBA? If undergrad, you'll be a research associate so supporting a senior analyst. Don't know specifics but I think it's in the range was 125k-150k but don't quote me on that. If you're doing an MBA I think it's 300k all in first year.
I saw under the other posts that PIMCO has developed a PM pipeline for college undergrads. It’s called Alts and has an estimate of 170k all in for 1st years ~ is that too good to be true?
I'm not familiar with the program so might be helpful to speak to someone that does. That number seems pretty high at first glance. I only broke past 170k with my second full bonus (not including stub bonus year) at a tradiontal AM but idk how comp looks like these days at the junior level.
By "pays the highest among large peers" do you mean other asset managers? Fidelity, Capital, etc.?
I heard Capital pays quite high - this is in reference to public markets LO roles, not the alt stuff.
It is in reference to those like fido, vanguard, capital group, Blackrock. And this is just fixed income. So generally yes PIMCO pays the most. Capital group is the one wildcard cause they are probably the most secretive among those. Very few get seats and they fly under the radar. So my comment may be false with respective to capital group but at least with the others mentioned PIMCO is the highest paid generally speaking.
Very help man - is there a meaingful difference between equity and FI comp in the LO world for the top-tier shops?
It's hard to make a broad blanket statement here. It depends on the fund, the strategy, the PMs you're supporting just a name a few. So do take this with a massive grain of salt. Equity can have a larger variance in comp so you do have the potential to make more money. But fixed income has more stable income year to year. At the end of the day though, pick what you like. I generally feel more confident in making fixed income investment decisions than in equity where your thesis may not be actually realized for a long while. Also it's generally more insulated to automation than equities but I'm sure that'll happen eventually too.
Amazing - thanks for the reply. I think I definitely feel way more comfortable building a long-term career in fixed income in the LO world than equities.
Yeah of course happy to help out where I can. I knew next to nothing about the industry coming out of college and want to do my part in helping out others get all the info out there.
Just a comment on income in general at PIMCO. Know several who work there (including a family member). Income varies based on role, but they pay very well across all roles (maybe not in back office tech relative to the tech industry - not sure about that). In their primary revenue generating tracks PM, AM and Product Strategy/Mgmt (which is a hybrid that is both client facing and works very closely with PMs in creating product), they pay well. I'm hoping this new Alts position is a trend where they eliminate the need to secure top MBA for real career growth. Historically, if you want to be VP or above, it took either a top MBA (even in Account Mgmt) or yrs of experience so many juniors would leave and then navigate their way back after grad school. Or they'd go to another firm and then stay there or come back. So the Alts spot is a good sign. Can't speak to the PMs but the client facing folks I know have great WLB. 40-50hrs per week and the culture is actually quite collegial. All about doing the best job for the client, regardless of role.
Bump, interested in hearing comp numbers for Portfolio Managers/VPs+ and Senior PMs/MDs+?
Interested
Bump
London base afaik:
Bonuses are usually around 40% for sales, 60-80% for research, and >100% for PM. This holds true up until EVP, when it becomes a complete black box. EVP is the equivalent of an MD position at a bank, with TC generally in the $1-$1.5M range.
Is this above or below market for AMs in London? Do you know how much this AMs in U.S.?
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