I have experience as an administrative assistant in finance, but am looking to further my career in Asset Management. I have a bachelors degree in Political Science. What roles should I be looking for within Asset Management? Would I be considered for a Client Service Associate position? What are some other entry level roles I could be qualified for.
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If you do anything "client services" make sure you'll get licensed, otherwise there's no intention of you progressing to anything else...
What entry-level roles are available in AM? (Originally Posted: 12/04/2012)
Are entry-level roles in the Asset Management divisions of BBs (e.g. JP, GS) split into "research" (analyzing investments the AM division might make) and "sales" (selling the division's services to institutions) roles?
essentially most roles will be available. it may be less typical to find research analyst or trading roles, but those too are possible so long as you show your interest. just don't expect to hop in as a PM.
Asset management entry level? (Originally Posted: 02/07/2010)
What do entry level ppl (new grads) in Asset Management do? Also what kind of job titles do they have? "Asset Management Analyst"?
they will do more of a marketing or market risk type of role.. then there are those who executes the trades, update reports, a lil bit of modelling etc
its hard for someone to start as a junior asset mgr, most of these juniors are of MBA background (or junior traders or researchers..)
Breaking into AM? (Originally Posted: 01/09/2011)
I've heard about how few entry-level positions there are in AM. Instead of that direct route, I was wondering what other fields allow you to gain relevant experience for the industry?
The most likely transition over from non-AM to AM is from the sell-side on over, and not to discourage you, but even then the switch isn't all that common. Asked a few VPs and MDs on both sides about this and the consensus generally was that most people in AM started out in AM, and if you cross on over from the sell-side it would generally happen right at the expiration at the analyst level into the associate level.
Other fields have an even spottier record than the sell-side, and outside of the occasional quant it's really hard to justify why you would be good at buying shit, selling shit, and managing risk intelligently from a non-finance industry. Of course, the more client-facing functions in AM draw from other fields more liberally, but the actual investing ones are dicier. The oddest resume I saw on the investing side was a VP with a Masters in Chemistry from a very reputable university.
Thank you for the insight acljnle0, were you able to land an AM position?
yes as an analyst
Any tips different from recruiting for IB or other fields? Besides the usual good grades + networking etc...
not really gl
People move from sell-side to buy-side and vice-versa all the time. And I'm not talking about mid-career moves, I'm talking about people who switch jobs from one year to another. There is not much friction between the two. You'd have more difficulty moving into institutional asset management from a retail position than from an institutional sell-side position.
Hi acljnle0, I am gonna start as AM summer analyst in CS this summer, what do you think i should prepare myself for? 'cause i know as summer analyst and entry level, we do a lot of office work, but is there something i can do in order to learn faster in AM? any tips? thanks a lot
Read up as much as you can on the markets, and maybe take a few Excel and modelling classes.
Best location to start career in AM (Originally Posted: 05/06/2011)
I'm trying to decide where to go to school, and I'm wondering which region is better for starting a new career in AM. My choices are the Midwest (St. Louis, Chicago) OR the West Coast. Also, I'd like to focus more on equity. Thanks.
Go to the best school with the best recruiting. LA vs. San Fran vs. Chicago doesn't really matter. Not so sure about St. Louis though.
Midwest = Chicago
West Coast = San Fran. > LA
The west coast has CapRe and PIMCO whereas there aren't any huge players that I know of in the Midwest. Then again basing your decision on being near two big shops is silly. Boston is the only city that legitimately offers advantages for those in AM.
much more important is finding alumni/contacts at good shops that will help you get an interview if you want to break into AM out of undergrad versus pure location. (my personal experience anyways)
Is this MBA? AM is big in Boston too - Fidelity, State Street, Babson, etc.
...Wellington, GMO, MFS... the list just goes on and on.
This is not for an MBA, this is for a MSF. I know that Boston College has a MSF, but it seemed like an inferior program to Washington University in St. Louis and Claremont McKenna College. But do you guys think that being in Boston is a bigger advantage than going to a more selective and prestigious program?
You might want to ask ANT but I don't think there's much of a gap between BC and WUSTL/Claremont. IMO BC is a better bet.
Where do you want to live - West Coast or Midwest? Start with that question.
In my Top 100 list (link below) I count 18 firms in CA. Defining "Midwest" is a little more difficult, but I show 7 in IL with a scattering of fims across the area in MN, WI, MO, and MI. If you looking broadly at the Midwest, then the opportunity sets appears similar between CA and the Midwest.
The Northeast obviously has the most number of AM firms, though.
http://www.lifeonthebuyside.com/the-top-100/
Who threw monkey shit at my post? Please try to add value by commenting and keep WSO the robust resource that it is.
In compiling the top 100 I noticed two big takeaways:
AM firms are way more geographically diverse than I initially thought, and
HFs are way more NYC centric than I thought.
If you want to go into HFs, focus on NYC. If you want to go into AM, your geographic options are much broader.
SBd your second post to balance it out. I just thought your plugging your $94 database was a little on the shameless side when stuff like this is out there: http://www.iimagazinerankings.com/rankingsMoMaRankAmerica09/
[quote=GoodBread]SBd your second post to balance it out. I just thought your plugging your $94 database was a little on the shameless side when stuff like this is out there: http://www.iimagazinerankings.com/rankingsMoMaRankAmerica09/[/quote]
I probably worded my first post poorly. I didn't mean for it to be a pure plug.
FYI - That II ranking list costs $349 to get in Excel format for a one-time download.
http://www.institutionalinvestor.com/DataStore/DSsearch.aspx?subjid=6
If you are interested in hedge funds also, this site has regional and metro-area breakdowns http://www.hedgetracker.com/top_hedge_funds_regional_directory.php
Hmm, I think you used to be able to access the whole thing for free (not download it though).
You can see it, you just can't download it.
For AM,the main cities are San Fransisco and Boston,so if you dont want to go to NE,choose the first one. About Boston College,I applied there because I thought I would place well in AM in Boston.However from my conversations with the career office and current students I understood this was not the case.BC places mostly in corporate finance.
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