I have an interview at a well known independent Asset Management firm for a Product Manager role in the company's alternative investments team.
Currently in equity research with a long term goal of becoming a portfolio manager. Been in research for a little over three years now covering FIG. The downsides of staying in my current role are that switching to the buy-side will likely become increasingly difficult as I grow older (currently 28) and that I could potentially become pigeon-holed into FIG (which could be quite boring as a sector as its highly macro driven).
Just wondering whether going the product manager route will give me valuable skills that might help me achieve my ultimate goal of portfolio manager or whether taking the Product Manager route would be a step back. Should I stick it out in sell-side research?
Your insights are highly appreciated. Didn't find much substance using the search function for Product Manager roles. Thanks.
Short answer: product manager would be a huge step back. If your goal is to become a portfolio manager absolutely do not move out of research. The default assumption, which in my experience is generally true, is that people who go Research --> product management couldn't hack it in research.
You would also be taking a huge step down in pay. I wouldn't do it unless you want a slower-paced lifestyle and don't mind giving up on the PM dream.
Thanks - anyone else have any input?
M&B said everything you need to hear. Product is a step down, pay will be down, product is a spot for undergrads and MBAs. Do sell side research instead. Think about whether you want to have a macro or a bottom up focus, that will set you on a path to a buy side PM. Any more specific granularity of those two general fields can be switched in an out of within the next 3-5 years or so (which is about the amount of time you should be in a role like that before you try to move to buy side as a PM).
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