Fixed Income AM exit Opps
I was wondering what exit opportunities are available after working as an analyst for a large asset manager in the FI division (mix of HY and rates research and jr pm roles). Would a move to private credit, DCM, or lev fin be possible in the future? What about corporate roles? Also, would it ever be possible to move to the equities side? Thx
Sir, junior PM IS the exit.
If you are joining this industry to try to switch to banking, you do not deserve this industry
I was actually asking more as a backup plan if I fail lmao
Why you'd want to go from a Research role in Rates or a PM track to DCM is absolutely beyond me
Would love to know more about how exit opps are for fixed income in top asset managers (blackrock/fidelity/neuberger)
AM at a top manager is the exit op; most people don't want to leave. Also, to be clear, I would not consider blackrock/neuberger as "top managers" on either the fixed income or equity side. Both are solid places to be but not on the same level as a PIMCO on the fixed income side.
You could potentially move to private credit depending on your role on the public side. Or a capital markets/CFO-type role at a corporate in a sector you covered. Exits are generally less structured because most of the looks you'd be getting would be for other fixed income AM roles.
I also would not consider those top asset managers - the best one in fixed income/credit is PIMCO and I would say other perhaps BlackRock, but they're strategic focus is not in active and more in the passive side of things (they do active management but not as prominent). The generally agreed best top AMs (equivalent to the Apollo/Blackstone/Carlyle/KKRs of the world) are Capital Group, Wellington, Fidelity, and PIMCO not in any specific order.
Why does Franklin Templeton not get a lot of mentions? Why aren't they considered a top AM, especially given they have move capital than Wellington (as far as I am aware)?
How would you rank a place like T. Rowe Price, Double line, Alliance and Bernstein relative to the above? Also at the top?
I would add that if we're talking about fixed income, T. Rowe and Lord Abbett are also top LOs.
CIO.
Side question - how do you break into this industry? Can corporate banking break into fixed income AM?
I've seen people make that move.
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