Can anyone give me any insight on Business Development (BDS) at PIMCO at their HQ Newport Beach office?
-What they (Associates) do -To whom they report -What interview questions one must know for an interview -Salary
Thanks,
Phil
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From what I understand is that you would help maintaining and getting new clients. You will report to the account managers most likely. Not sure about the last two questions.
Here is a link for more http://www.wallstreetoasis.com/jobs/business-development-associate
It's a client service and marketing job - you'll manage the existing clients and help source new ones. It's effectively a sales job.
I was under the impression that there is no cold calling or sales work really and that it's just servicing existing clients. The name "Business Development" is supposedly misused in that you are servicing "newly, developed business."
Yeah, if they work with the Account Managers then it's not really a sales job at all. Much more client servicing, understanding what the clients objectives/risk tolerances are and recommending products based on that. Keep in mind that most of PIMCOs clients are pension funds, insurance companies, endowments, municipalities, sovereign wealth funds, and ultra high net worth individuals. You won't be talking to uneducated investors, most of the time.
Know your macro. Know it well. It's basically impossible to know everything about macro, but you need to be able to hold your own when talking about a lot of different trends. Keep up with Gross' investment outlooks and other published research on their website.
Alright thanks. Any insight as to typical exit opps or ways to move up within the firm? What is the salary like?
I've heard that it's not a great group to be in over there. Low salaried and with extremely limited exit op's. It's going to basically be a role where you do RFP's and the like.
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