Hello,
I am seeking some advice on my next step. I am a "Portfolio Analyst" on structured products in MO at a very well known asset manager. The work is focused on reporting, making sure hypothetical trades are within compliance, helping answer non-glamourous investor inquiries - in essence not very intellectually challenging, but does provide a good training in excel modeling and have a direct working relationship with the PM.
I don't see myself doing the same type of work within the next three years but at a loss of where to go next. Most of my friends are either happy lifers there or find a niche happy spot with a smaller firm with more $ and be a lifer there. So I have no one to speak to IRL.
I have a few thoughts -
1 move on to a junior structuring role with an underwriter (not a common move but people with my background have made it before), could be very difficult and highly unlikely as my applications have been shot down a few times... 2 become a portfolio analyst that does the legwork for PM (allocations, more hypos ect). 3 join a Fin-tech modeling team to build out structured products dash boards/reports.
Has anyone with a similar background have made a career shift? I am a bit old so the switching to FO boat may have sailed already. There could be some other types of intellectually challenging work that I can make the transition to. I do not need to stay in finance.
Thanks.
Hi ChloeOrc, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
If we're lucky, maybe these professional users will respond: williamkimj cztrader Banquero
If those topics were completely useless, don't blame me, blame my programmers...
Providing updates after almost a year:
I will be joining a major Financial Institution (Commercial Bank) outside of asset management in an corporate FP&A function, at title + 1 and pay bump of 50%.
I’m kind of surprised that the pay bump would be that significant. Do Portfolio Analysts not get paid well? I thought they were comparable to research analysts, but were focused more on macro and allocation.
Providing updates after 3 years:
It was a regrettable move. Although I received a bump in salary and title, while moving to LCOL area, my life quality suffered in a few areas.
1 I was recruited to be a generalist, but end up picking up various work according to the team's immediate needs, and failed to develop the core competencies as FPA manager. Team strategic direction is in mis-alignment with broader corporate finance view.
2 Spouse took on remote role and is very resentful of my selfish move. A lot of anger were brewed in the past two years.
3 Lack of peer in this area to network with. Outside of the few major corporations, there is also very little opportunities in the loan industry. Now I am feeling stuck and no recruiter will contact me after seeing my geographic location.
Time to search again.
Hi ChloeOrc, thanks for providing updates and happy to see that you are ready for the next move. Would you mind sharing what you'd have done differently for your last move if you knew what you know now? What areas do you think were good 3 yrs ago (that you had a chance at but didn't go into)? Thanks.
Tough question, I did learn a lot in this role so I would still have taken it. But knowing what I know now, I should have networked harder internally for a transfer 6 month ago.
appreciate the dedication with the replies. Think you should just look for decent recruiters tbh, I know two people with almost identical (or worse) experience to you who went on to become PMs in the loan space. Albeit junior PMs, and they did do a lot of the things you mention like allocations and structuring, but at smaller shops you'd have a broader remit like trading. sounds like you were at a big, well known shop, that may have had you silo'd. try looking for niche recruiters? its hard to find people in this space as its a private market. what location you in?
edit: forgot to mention the two guys I know were on the older side, mid 30s
Thanks for the kind reply. You are spot on about the siloed workload. I am on east coast around Baltimore and don’t mind relocating. Do you know of any good recruiters or websites? My network is mostly in banks (aml, consumer credit ect)
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