Starting out in AM?

Just wanted to get the thoughts of some of the experienced guys on here about starting out in AM. Can you get a buy-side research role at the junior level (no MS/PhD) that allows you to be involved in investment and portfolio strategy (not just number crunching)?

What you would recommend for someone interested in learning how the instruments work inside out, and how to put on trades with the whole range of instruments and manage those positions? I'm guessing this is what traders/strategists/PMs at a macro fund need to know but how exactly are you supposed to go about acquiring that skill-set?. The people that start out in sell-side trading or research become experts in one product, but how do you get exposure to the others?

Basically, if you're a PM at a macro fund, how would you go about learning all the products and instruments if you were just starting out today?

4 Comments
 

Voluptate et dicta nam dolor illum ipsa voluptate optio. Doloremque ab hic ut dolorem laborum dolores ut. Vitae maiores id deserunt hic. Impedit tenetur amet eos labore nihil facilis enim. Unde repudiandae culpa omnis voluptas tenetur aut. Molestias dolor ut voluptatem autem. Temporibus est consequatur dicta enim placeat enim.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”