FI sales/trading guy hoping to break into AM.....advice pls
Ladies and gents,
After years of fixed income institutional sales and some mortgage trading, I'm hoping to transition into the AM field as an analyst.
I've always been more interested in the analytical side of investment decision making but a steady paycheck kept me in the sales gig. That said after the past couple years, i've been laid off twice and have grown tired of the ups and downs of the sell side. I'm making the assumption that buy side tends to be a little more steady.
So I've sat for CFA level I this past December and am self studying financial modeling (macros/vba) as my skills are dated. Just cracked Benninga's third edition FM edition if anyone knows.
Do I have a shot at something in the field. I'm anticipating some age bias and focus on my sales background vs AM but still want to try before I dive back into another dull sales job out of necessity.
Any tips from you or someone you know who's made a successful transition would be very appreciated!!
Well, first of all, not to sound negative or insulting to anyone. But you probably have more experience than some people on this post, including me. I'm not a genius but I do believe you have a great shot. Anything is possible dude, I can't give you advice on the transition, but it is definitely possible
Ah, optimism is always appreciated! I have done loads in the biz both here and in Europe but hear of very few willing to take the chance on people without very direct and current experience.
Major worry is that after hitting 30, employers tend to pigeon hole. That said, I'm willing to take a much more junior role than I'm used to in order to prove worth and lean AM side. PM and deeper credit analysis is very interesting to someone who's life has been, "this bond looks good, wanna buy it?". haha
Are you looking at profit / non-profit? Have you been interviewing and would like to gauge your chances, or is this more of a thought process?
for profit, MBS/ABS FI management. Just starting the search process after spending the time on CFA and waiting out rest of miserable 2009....
Guess looking to know what firms or roles would be best suit and what pre-reqs do I need to get the look?
Assumed CFA and becoming proficient in excel macro/vba would be a start. This is on top of yrs of actual trading/sales experience.
I can't really give advice on the transition part, but "after years of ... institutional sales" don't you have some solid contacts on the AM side to whom you can reach out?
I covered mainly tier II & III banks from a super regional. Not the demographic i'm looking for as they tend to follow very strict investment guidelines and many time don't have a actual PM but the CFO or bank president controlling the ptf.
Tier I clients were in UK where I'm not as willing to live.
Dont you know the products you sold inside out? I fail to see how that is not an asset for any firm? Have you tried "less" analytical -wm of certain firm with certain divisions that may use your expertise?
Like slum said, you have way more going for you than some of us could give help on.
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