Exit options for an Analyst with 8-10yrs of total research experience from a well-known AM?
What are the exit options for Analysts with 8-10yrs of research experience? Starting to feel some burnout from working in markets. I know of IR already but where else do such folks go? I'm in my mid-30s so B-School is not an option
IR or IR consulting as you’ve said. I’ve seen people go corp dev/strat depending on industry expertise. Could do manager research or asset allocation type work. Also haven’t seen it first hand, but I’d imagine the research team at a MBB would be doable.
Makes sense -- asset allocation work seems really interesting though the comp seems kinda low until you get to senior levels
This is not a reason to not go for asset allocation, any realistic exit opp will have lower comp now and over time vs. staying as a senior position in an AM. That is why very few people leave the industry!
Maybe private banking/wealth management portfolio management? You would probably get very bored quickly given where you are coming from
If you are happy w/ IR responsibility (most common function for investors going Corp).. can usually tie IR with other corp functions like treasury, FPA, Corp dev, strategy, etc. right from the start. once you do that it'll create the ability to move laterally into more non IR roles in future gigs and ultimately CFO over time if you are successful and play your cards right
If you want to stay in FO, echo the above comment on asset allocation/manager research type of work. And if you're open to it, could also look to switch into a slower paced environment, e.g. pension funds
What do these corporate jobs such as IR pay? IR or IR/Treasury, IR/Corpdev? Hard to find much online.
Depends on experience. Not worth starting off in IR at all, you'll never ascend. A respected former analyst with 10yrs of experience could likely get ~$250k as a mid level IR professional at a large cap and maybe some mid caps
Not sure about Treasury (I'd rather blow my head off) or Corp dev
Not sure how true this is but I've heard that the investment arms of the insurance companies have better WLB than regular AMs
This is true. They have to deploy $X amount of capital each year as they have "target allocations", so they are less intense about generating returns. The downside that they are often too conservative and boring.
As you can imagine, all the options will require a varying degree of pay cut.
Unless you'd like to completely leave the investment role, working at family offices or sovereign funds (that do the work themselves) would provide you with a less stressful life. Or becoming an asset allocator could also be a decent option--I know someone working as an LP for a college endowment. She seemed content with her WLB.
It's quite rare but I've also seen some non-fundamental shops or alt inv shops looking to hire a senior fundamental research analyst position.
Much appreciate the response. I've considered both family office and sovereign funds, but how do you get these positions? Plenty of HHs out there for HFs and even LOs but have only seen 2-3 family office roles even pop up on the radar
Also when you 'that do the work themselves' are you talking about ones with in-house funds that invest (vs. allocating to managers)? This seems to be even rare to find
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