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
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.
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.