Hi! I'm a sophomore interested in finance (still don't know what exactly) but a recruiter reached out to me about the PIMCO 2022 Alt Credit & Private Strategies Internship for next summer. I saw a post on WSO from last year about it but not much else. Does anyone know more about the position, pay (intern vs. full-time), team culture, deal flow, interview preparation, etc.?
All info helps.
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Bump - not interested in internship but to hear more about this group
Bump - interested
d
Alts are becoming a big focus in the AM world and PIMCO has been moving a lot of AUM into that area. Last I checked, they have $130B dedicated to their opportunistic/alternative credit strategies charging 130 bps management fee + performance. You can guess that the PMs are raking in mid 7-figures. As a junior you will be working hard as you're gaining exposure to the whole deal process from sourcing to due diligence to underwriting. I'd say this is one of the most coveted seats on Wall Street for analysts out of undergrad. If you can land this, you'd be off to a spectacular start.
Obviously this is an incredible role, how much weight does the pimco name carry on a resume?
PIMCO's got old money prestige, consistently a thought leader in the fixed-income world, and one of the best and last active asset managers left. B-school conference rooms would and will always be packed when PIMCO does on-campus recruiting fighting for 2-5 spots, sometimes not even investment roles. Now it seems that they're hiring analysts out of undergrad for investment roles which is a game-changer and shows that they're starting to nurture in-house PMs from the ground up. If you land an opportunity there and am interested in AM exit-opps, I'd take it over any top IB.
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The interviewers were telling you this? Or other contacts not at the firm?
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