I am an undergraduate student looking to go into Asset Management, and I wanted to get some insight on the culture/lifestyle/hours at different AM firms. The most important thing to me is that I have a good work/life balance...I don't mind working a 70 hour week every now and then, but I don't want the hours to be anything close to investment banking. My resume could land any interview (top business school near NY), but I want to make sure I enjoy my work. What are great AM firms to work for that have solid pay and don't work you like a dog? Any breakdown or info on hours at different AM firms would be appreciated.
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I work in Fixed Income research for a major asset manager and the hours are 50-60/week. PM me if you want detail on firm/pay.
The work/life balance at all the major asset management firms would be reasonable, i.e. ~60 hours / week on average. The hours can be a lot higher at hedge funds though. Personally I think AM has the best mix of pay and lifestyle on the street.
Hey guys, new here as well. I was wondering what the recruiting process for AM is like for an undergrad. I understand recruiting for IBD requires a lot of networking, cold calling and emailing etc.; basically the whole M&I stuff. Could anyone shed some light as to how the process is for AM and whether cold calling/emailing etc. is needed?
I received my gig through a connection of one of my college's trustees and was fortunate enough to have that in. Networking is always a great bet. It's a little tougher to break into right after undergrad but always possible if you make the right connections. From my experience, it was a lot less conventional than IB and I went through several back doors. I had went through IB and S&T interview processes prior and AM was almost exclusively about fit.
It's a lot less structured and you'll need to rely more on connections you have.
First off, I'll agree that the work/life balance in relation to compensation is pretty favorable in AM. If you really want to find a shop that allows a decent lifestyle, I'd say look for smaller boutiques that focus on fundamental analysis. Where I work we hold our companies for 5+ years on average and have about 10% turnover so the day-to-day stuff isn't terribly important. Just keep on top of the companies in your pipeline and you're good!
In the same boat as OP here. I'm hoping to work at a GSAM/BlackRock/Welington but I often here places like BlackRock PMG will work crazy hours where as a GSAM Relationship Manager or Research person might not work as much. Is there really a lot more variability in hours for each group and is it accurate to assume that I would work roughly 60-70 hrs a week?
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