Info on Capital Group
Looking for more info on capital group. Not really interested in their TAP program, but more as joining as a junior investment analyst or associate (not sure the correct position) for equity research. I know their style is each PM gets a sleeve of funds they cover, but how does research work with analysts?
Also interested in pay, culture, hours, where investment analysts from capital group exit to (if they do), and any other differentiating factors from T Rowe Price, Fidelity, and other AM firms.
also interested
Analysts don't leave. Analyst is a post-MBA position. Associates are junior and they leave. They go to all kinds of public funds, including other long-only funds and MM HFs. They also go to top MBA programs. Think that's pretty common across all the big AM funds.
It's a private company. Pay is to the moon if you're there for a long-time
Culture is professional and long-term focused. They take care of their people. Turnover is very low.
A point of differentiation might be the consistency of the firm. TRowe, Fido and others probably have more organizational volatility
Thanks - you know anythting about their TAP program?
It's the rotation program for undergrads. You rotate through different business departments like biz ops, hr, distribution, trading as well as investments every few months. The program has a lot of support among the senior people and leadership because many have come out of that program and it has been around for a long time. You get exposure to different parts of the business, not just research. It can be an entry point into the investment group after the rotation but it's not a guarantee.
I heard that they just made changes to the pre-MBA research associate role that make it way worse. Supposedly, they no longer report to an analyst or PM to help with coverage but just work on general projects. The previous poster is accurate on exit ops.
So Cap Group is moving to a centralized research (similar sell-side) model as well?
In the context of exit ops, which a junior person will be thinking about all the time, not reporting directly to an analyst or PM doesn't matter too much. It matters more for b-school letters of rec. but not so much in getting other jobs.
Analysts and PMs don't really loop juniors in on their research process, email news flow and buy/sell decisions as much as you might think. You'll be working on projects that supplement their work and they'll trust you with a partial piece of a whole. They don't have time to sit down and walk you through how they think about their industry and stocks. They already do that all the time with PMs and don't have time to rehash things for you. They simply don't have much time to invest in teaching you what they know. I think the real learning is by doing your own research and reading on stocks, industry and the market to get a more comprehensive perspective of investing. I think the benefit from mentoring in these jobs can be overestimated and disappointing.
Jesus that sounds like such garbage.
Another way to put it is you have to be very pro-active about learning the companies, industries, macro and market. If you are then you have enormous resources at your disposal. There's a ton of room to think creatively and pursue creative projects, if you want. You have a ton of autonomy which some people don't know how to handle. The workflow is not as structured or predictable like in IB.
Have a friend that works there and he loves it. Seems like great hours/comp. American Funds are some of the most used mutual funds in the world... pretty sure Eddie Jones uses them almost exclusively
Was very interested in potentially working/applying there. Any chance you can put me into contact with your friend if I PM you? Figured it was worth a shot at this point.
Anyone have inside experience working at Capital in a fixed income group in pre-MBA associate role? Pay, hours, culture versus competitors?
Would like to know as well
Not a lot of opportunities there in fixed income pre-MBA. It's true that they made their research associate role into a general "research" group that just does random requests from analysts/PMs. Otherwise, the only opportunities really pre-MBA are in support role like quant research, ops, nothing front office. If you do get an MBA, you can become an investment analyst through their summer MBA program and that leads to PM down the line. Analyst/PM is where the comps are the highest (but still not as high compared to IB/PE, etc.) Culture is really great, they take care of people. No one ever really leaves due to this so opportunities to advance may be limited and you often have to wait 10+ years to advance.
Does anyone know what comp is like for the CAP rotational program?
It's entry level and nowhere near IB levels. Around 70-75k salary and up to 25% of salary bonus based on performance.
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