Is this true??
Hi everyone. Sorry for the retarded title I just couldn't phrase it differently
So recently I talked to someone working at Wellington in London. She is a research associate (Multi-assets investing), typical entry level fundamental analysis role. She had brief experience in ER on the sell-side and moved to Wellington after completing her MSc. The interesting part is that she revealed her salary to me and based on what I had already read, I feel like she's not being truthful. I mean I checked her LinkedIn and she is legit and all but can't shake this clownery
She claims that her base was £50k in her first year and bonus could be as high as 60%, or even higher (??!!!) depending on performance. For the hours she said 70/a week max. How could this be true? It sounds ridiculous to me tbh. Graduate roles, according to various sources including this site and simple conventional wisdom, pay significantly lower for the first few years. She must be lying, right?
Not sure how things work across the pond, but it seems like Wellington and other top AMs pay $100k-$150k right out of undergrad so that doesn't sound too surprising to me
I'm American too btw, contemplating a move to Europe.
I haven't looked into specifics but what's the catch there? That's definitely higher than average..
The catch is that jobs at Wellington are very hard to get
This is in-line with what I'd expect. That said, getting a job at Wellington is pretty difficult.
No joke. Man I just passed through broad interview experience threads and got nervous by just reading, even though I'm non-target & struggled a lot myself
Doesn't seem too crazy for a big buyside shop; multi-asset teams may pay more since they seem to look for candidates with more differentiated/rare skillsets (combination of fundamental finance and technical/programming/math skills). Just my take.
Sorry for being this inept, but what usually brings all of this home? Is it a master's degree, CFA...etc?
I'm not in multi-asset so take with a grain of salt. Based on job postings I've seen in the past, it seems to be a combination of general financial concepts from accounting/valuations (being able to go in depth and apply it in a broader context) and technical skill (programming, advanced modeling) for bigger picture stuff. Kinda like asset allocation, exposure analysis, risk management, etc. Sounded to me like a sort of watered down, all around quant-like position. Just think about it from an investor's perspective; the appeal of a multi-asset strategy would be the ability to be more dynamic in changing market conditions, instead of being locked into one asset class or strategy. I knew a PM who ran a macro fund and it seemed to be similar; you need the technicals to be able to manage and keep track of a lot of different things at once. My guess is many "multi-asset funds" are factor-neutral and could be classified as a global macro fund.
So to answer your question: I think an undergrad background with CS/Math/maybe econ would be good, or something like an MFin or MFE. My guess is CFA/MBA could work but may not be as relevant. For more quant-oriented funds, you might see PhDs there. As always, it really depends on the firm and specific strategy/role.
Might be way off the mark here though, again it's not my specialty or something i am super familiar with. maybe someone else can clarify.
Sounds right to me. Only thing sounds off is the hours, 70/ a week is quite a lot for LO, would expect more like 50-60
Maybe a little bit above market for a first year AM role in London, but Wellington are known to pay well, and maybe she got some credit from her time in ER. Not sure if some of the bonus may be deferred as well.
Just out of interest, not sure why you think she is not being truthful?
I didn't really mean to be malicious at all. I just thought that AM pay in the states was ~$75k all in (for London it'd be ~£38k base). Are there differences in roles I didn't get right?
This sounds correct. I know for a fact that Blackrock in London pays £50k base with a bonus of about £10-20k. Hours are nice as well about 50 - 60 hours a week only ever got bad during earnings season when I interned there.
I work in London and £50k + 60% bonus seems legit. £50k is in line with A1 IB, bonus of £30k is at the higher end but reasonable in AM. Don’t convert £ to $.
Based on my experience there is absolutely no reason to think this is a lie at all. For my first year at an AM of the same size and stature, also in London, starting is £80k + starting + bonuses.
No clue atm what bonuses will end up being - but yeah, wouldn't batter an eyelid at her numbers at all
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