Entry into AM

Hello everyone, currently in a BBs wealth management team on the investment side of things as an analyst. I really want to do more long only AM/traditional mutual fund work at places like Fidelity/T.Rowe etc. I was wondering what I should do from here on out to try and make that jump or if that is something that is only possible from IB? 

 

Fido and T Rowe are very hard places to get into. My suggestion is:

1) Complete the entire CFA program.

2) Get into an M7 MBA program that feeds into top MFs (i.e. W, CBS).

At that point you'll be in okay shape to be considered for a top mutual fund.

Outside of this CFA/top MBA combo, it's going to next to impossible to move to a top MF from a PWM job.  

 

Fidelity / TRowe is insanely hard to get in. IB doesn't make it easier. MBA gives you a shot, but it's an expensive shot (from both tuition and foregone two-year full-time salary), and still insanely competitive. Not to mention your competitors could have worked at a MM/SM HF (or even smaller long onlys) pre-MBA. 

I don't think MBA is a must unless you have exhausted your options. You should also be open to smaller regional mutual funds that have similar permanent capital and longer time horizon, if that's what you are looking for. Network aggressively with analysts at those places who are willing to talk to you, pitch your stock write-ups and keep in touch with them, openings might come up from time to time. 

 

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