I recently received an offer at PIMCO as a product analyst for summer 2023. I was interested in any insight as to what the internship will be like day-to-day, return offer rate, and upward mobility (I understand there's a big MBA culture at PIMCO). Thanks
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Are you going to be in Newport Beach?
Yes
Most ppl exited to tech and be a product manager if that’s what u want. I know someone who didn’t like it there because it was like a more technical investor relations job so if ur goal is to do investment management u should start with ib or s&t otherwise u will get pigeonholed easily.
Don't want to hijack your thread but was wondering what the superday looked like or interview questions they asked you? I have one coming up.
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Late to the thread, I interned in product at Newport Beach last summer and enjoyed my time decently. Lifestyle is great 50-60 hours. Comp is good for hours. Work is more on the boring side. Technical investor relations is a good way to put it. Lots of ppt and excel. You are closer to the investment process than sales people but not making investment decisions in product. Mobility is straightforward, mostly up to 4 years and out but some people stay on longer if they are good (similar to IB). Lots of people exit B school, product in tech, investor relations, or can transition to an investment role at a smaller place. I think its an decent gig and is worth considering. Let me know what you ended up doing
Thanks for the info, ended up accepting the offer. Will you be returning FT?
Yes I am going back FT for product! I enjoyed Orange County a lot and the people I worked with were great. Let me know if you have any other questions, happy to help
Any idea what pay is like for those who join post-mba?
I have an okay sense of pay scale (don’t quote me), but around 250-300 all in. Base pay makes up more of all in than IB
You can PM me I work there
What’s your role?
I'm an Associate
In sales or research?
There’s no associate research roles at PIMCO
From what I've seen, PIMCO is very MBA / CFA heavy. There seams to be a divide between post MBA (for most of their spots - Investor, Account, Product) and everything else. For those that work there, what do you see as a career path for juniors (Analysts / Associates) in general? Is it get experience and leave after a few yrs? Do they have a decent track record of starting as a junior, leaving for MBA and then coming back? They seem to hire a bunch of people post MBA. I would think it would be valuable for them to "rerecruit" the ones they like who have left for MBAs. Already know the firm, culture, way of doing business, etc.
MBA is almost required for progression in US offices. European offices are definitely trying to develop a path upward without an MBA. Typically path is 4 years Analyst/Associate/Senior Associate -> MBA -> VP (2-3yrs) -> SVP. Progression to EVP onwards very tough.
So it sounds like it takes 6 yrs to get to VP if you if you start out as an analyst. That puts a kid at 28. They make decent but not great money (not IB money) as a junior. But if and when you get to VP, comp starts getting interesting and you can be there a long time. So takes some patience compared to the typical IB track (either staying in IB or moving over to PE). not a bad thing if you're interested in a long career with a global leader. I know a handful of juniors. Like anything else, a few have already left, a few have transferred internally and a few want to make a career out of their lane. For the ones that have left, they all moved to top shelf companies, Perhaps they don't require the MBA / CFA for significant advancement. That's a big hurdle but getting a slice out of the VP and up bonus pool is pretty strong.
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