I am new to looking into AM as a career. I am a rising junior and do not really have an idea about what the top firms are or tiers. Is anyone able to provide a breakdown of where firms lie, maybe particularly in NYC？
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Stratifying firms into tiers is a waste of time, so in no particular order, I would consider the following shops to be fairly high caliber:
Equities:
Capital Group
Wellington Management
Dodge & Cox
Harris Associates
Fidelity
Blackrock FE
Fixed Income:
PIMCO
TCW
Nuveen
Lord Abbett
PGIM
Artisan
Fidelity
As far as location, most of the top firms are headquartered in LA, Chicago, and Boston. As far as I am aware, the only ones on this list that hire out of undergrad for NYC are PGIM, Blackrock, PIMCO, and Lord Abbett (NYC/Jersey City).
I'm incoming RA at one of this firm and I was wondering, what do you have to do in order to get fired? From what I see on this forum, everybody talk about the job security.
No different than what you would have to do at any other firm. Show up on time, come in with the right attitude, make your superiors' lives easier, do not repeat mistakes, improve a little every day, and you will not need to worry about being fired for something preventable. Everyone is replaceable, but no one is actively looking for you to fail.
On the point about better job security, they mean relative to a hedge fund. LO funds are judged based on relative return against a benchmark over a longer time horizon (2-5 yrs.). This really only applies to an investment analyst with P&L responsibility, but the point is that they can have an off year whereas it may be harder to justify keeping an underperforming hedge fund analyst around.
Most of these firms' hires are out of undergrad it's just they have small classes that are mostly filled with their intern classes. I interviewed at most of these places last fall and will go somewhere not listed there.
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