Prospects for landing an AM job out of uni? (UK)
Hi! I'm looking for advice on how to position myself for a graduate role in Asset Management when I graduate next year.
Just for background, I am graduating with an Econ degree from Bristol and have accepted an offer for MSc Finance and Investment @ Durham starting September. The course at Durham is CFA accredited (idk if how relevant that is), and has a heavy focus on security analysis, financial modelling, etc. My plan is to receive the IMC qualification over summer and start work on CFA level I when I begin my Masters degree, and hopefully gain some relevant experience before I graduate.
What are my prospects for landing an investment role at a large or boutique firm out of uni? If my chances are slim, what kind of routes could I take to eventually land a job in the sector?
Thanks.
At large firms, full-time is very slim/no chance particularly in this market, given you have no related experience / no target name to help compensate.
Boutiques are do-able though, but it's not easy. Networking will help you here (I'm sure Durham has some alum at the smaller firms who recruit only a few grads a year).
The best chance is to do a SA/off-cycle stint, then hope to continue at the same firm.
Makes sense, thanks for the input!
Agree with above poster you’re best off looking at boutiques that have alumni. Try and get an internship and convert it to a full-time position for when you graduate.
Got it, thanks!
hey bud,
As someone in research out of undergrad + ( w my best mates doing it too ) and us all recruiting for it pretty hard in 2nd year/3rd year summers. I'd say do not expect to land a buyside research internship or grad scheme regardless of your the alignment of your MSc with the role. LO roles are a) super hard to convert at all the top players and t2/t3s , b) hard to convert grad schemes after 1/2 years to full time jobs in research with coverage c) most top funds are now, given market conditions looking for people from ss research who want to join buyside programs as junior research associates. I'd honestly recommend applying for all LO schemes, all SS research schemes, literally all front office roles tbh if you have the time. UK Recruiting is pretty random, unless you were at Oxford Alpha Fund where everyone lands a top buyside multi manager/ LO seat it is very very hard.
Okay thanks, that's very helpful.
Like you say, the job market is very competitive and I appreciate that landing such a job can be very difficult. I suppose I'll apply to anything relevant, and if I don't get the role I want straight out of uni I can always try to work my way in eventually.
What's your thoughts on the Big 4. Do you think that experience at these firms could help in the long run if I play my cards right? E.g., big 4 scheme out of uni, transition to a research role SS perhaps, then try make my way into buy-side as a junior associate? If so, what sort of division should I apply to. Perhaps more quantitive, or model-based roles, such as valuations?
Appreciate it.
IB is the way to start.
Big4 -> sell side -> buy side L/S or L/O happens plenty, so absolutely a doable path but not necessarily an easy one.
Definitely consider parallel paths you could try to lateral from and/or ones that could get you to a top 5 mba program and would be reasonably attractive to the buy side (consulting, corpfin, IB, etc).
As others have suggested, network a ton while you’re in school and have your shit down. Always have at least 2 pitches ready or close to ready, be rock solid with generic accounting/finance interview Qs, and read the popular investing books.
Is the LSE student fund comparable to the Oxford one in this regard?
mate do you have any summers in equity/credit research already?
Unfortunately not. Have experience in finance, but nothing buy-side related. I'm sure it doesn't make things easier haha.
Interning at a L/S in london (citadel/p72); can pm if you want more colour on the process/skills required
can i pm also if you don't mind?
sure
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