Fixed Income Portfolio Analyst Comp/Progression
Does anyone have insight into the comp/progression of a fixed income portfolio analyst (not research) at a top mutual fund (T-Rowe/Wellington). What does comp start out at as and how does it progress with years of experience.
1st year out of undergrad 60k+30% in my group at a major asset manager ($500B+) in Chicago. 10k raise each of the first 2 years, 3rd year bonus 40%. Not sure any further than that.
Thank for the reply. Do you see portfolio analysts leave to get MBA and concurrently do you hire MBAs and what title/ comp range do they come in as. I know that some asset managers almost require an MBA while others really don't care.
Reviving a somewhat older thread...so portfolio analysts, a middle office role, gets 30% bonus at your firm?
I can only speak to my group within the firm, but yes. I earned 30% 1st year (partial year), 35% 2nd year, 40% 3rd year. I can't confirm, but I think in normal years 40% is the cap for this role. It can go higher in exceptional years, but I'm not sure how high.
1st yr out of undergrad in Milwaukee was 60k + 20% (30% max). 2nd yr was 2% higher (Inflation raise) and Target of 26% (40% max). 3rd Yr received 5k raise and Bonus stayed at 26% (40% max).
For us, portfolio analysts are actually more of a middle office function so you're either a portfolio analyst for life or, if given the opportunity, you jump to the front office as a research analyst. The ideal route here, if you don't start off as a research analyst (we have only hired three research analysts out of undergrad in the last decade) is; Portfolio analyst for 2-3 years, research analyst for 3 years, Sr. research analyst for 3 years, Jr Pm 5-7 years, PM... MBA isn't really necessary here and we certainly don't see portfolio analysts leave for their MBAs. MBAs also don't get any sort of salary bump versus non-MBA's here. Our pay is heavily tied to performance... MBA/CFA isn't take into consideration, to my knowledge.
Is this sort of analyst structure of portfolio vs research common or sort of unique to your firm? I've yet to hear of any distinction from what I've read.
Portfolio Analyst in Milwaukee here. I would second this that PA is middle office role that you either stay in long term or get bumped over to Research / Trader / Investment specialist.
Do portfolio analysts go to good MBA programs, and try to break into AM that way? At least, is that a viable option?
No idea unfortunately...
To revive this - we're actually hiring someone for my team right now. The job was just posted yesterday. If you're in the Chicagoland area, and are interested, PM me.
I work at a rating agency and I am interested in making the jump into fixed income research. Would I have a strong chance given my background at a rating agency? And, what does the day-to-day look like?
You'd definitely have a shot - we have two people (out of 28ish) on our team that came from ratings agencies.
Day-to-Day in Chicago is 7:30-5:30ish generally, get in, check the news on the markets, your industry, your coverage companies... continue working on any new deals (modeling/valuation, research), update financials and investment premises for existing coverage companies, work on special projects... the days all vary depending on deal flow.
Fixed Income portfolio analyst job offer...need advice ASAP (Originally Posted: 12/16/2013)
hello all,
I received an offer for a fixed income portfolio analyst at one of the larger commercial banks. The pay is much lower than I thought though, at $42.5k. This realy seems like a lowball offer but Im not really to sure and im kinda worried. Would you guys take this job offer? Is the lowish starting salary worth it for future exit ops down the road? I need to decide by tomorrow so if anyone could offer some help that would be great.
Your starting salary has no indication of your future earnings. Worry about the job now, money later.
What is your background
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