Harris Associates in Chicago
Performance track record looks great and the firm is pretty large - $80b.
Is anyone familiar with the culture there? Reputation? Any stories from people you know who work or used to work there? Is it a sweat shop?
I work with someone currently in private banking in Chicago who used to work there. She has nothing but good things to say about the culture, and she seems to have really enjoyed her time there. The only reason she left is she really wanted to be in a client-facing role, hence she moved to private banking.
Good to know, thanks!
Anybody else have more color to add?
I interviewed with their international team. One thing to be aware is that the international team (David Herro's group) runs almost completely separate from the U.S. team. I'm not too familiar with how the U.S. side works.
I was very, very impressed by the people I met and remain impressed by their investment philosophy, though its drifted some over the past few years and has become increasingly growth oriented. I do think it's a tough place to work, not necessarily because the culture is brutal but because expectations are high. They travel frequently (as do I at my current fund) and it can really be draining. They're also a very lean team. It blows my mind how much money they run with only 7-8 people. I heard comp is quite good.
They also interview a ton of people and rarely hire from what I can tell. It took them two years to hire somebody after they interviewed me despite being very lean when I interviewed. Anyways, I would definitely interview if you have the chance!
What do you know about Harris Associates? (Originally Posted: 12/18/2012)
Hello my fellow monkeys,
I'm in the process of making the switch from SS ER to BS ER and I recently found out about an opening in my own backyard.
My contact told me the PM at the new fund is a "VERY skilled PM - he worked at Harris Associates."
I've recently learned that HA has some pretty good pedigree but that's a very high level comment. Can anyone else shed some light?
Also, how apprehensive should I be about going to a fund with only $500 AUM? I'm assuming that, if I learn that they had $50M AUM 5 years ago, then its going in the right direction.
I don't think any of that is true. They have around $70B under management, and the lead PM is far from new. Am I missing something?
I think my post above needs some clarification.
There is/was an opening at a firm that was founded almost 10-years ago. The firm is small, under $1 billion in assets, and more of a family-office than institutional capital.
The head PM of this firm was a PM at Harris Associates for many years before leaving.
Does that make more sense?
When I made the OP, I had little information on the prestige/quality of HA.
I see, yeah that makes sense then, I misunderstood. Sounds cool though - did you end up interviewing?
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