I am a recent grad looking for job and have been applying to lots of analyst position at many AM firms. No luck yet but I did get a position at a boutique consulting firm (think, http://www.consultingmag.com/article/ART830192?C=FDJMnuIrWSBjCi). We work with F500 technology companies.
I am concerned because although consulting does sound interesting and hopefully i can get some sales data analytic type projects, however it's not AM.
Obviously a job is better than being unemployed but if I want to get into AM what is the best way to go.
I actually would think some operational experience would look good for AM but because it's not MBB i'm worried about Bschool exit ops and the future. After working there for a few months should I try to leverage the experience? What for?
Any suggestions?
I was thinking of getting a back office role at some WM management firm because at least it is finance. I would then have time to study for cfa. and leverage for analyst positions
Consulting to Asset Management? Career progression ot PM? (Originally Posted: 05/03/2013)
Hi Everyone, I am a graduating senior and have an offer at a boutique consulting firm (40 people). They do almost 85% of their business with 2 of the largest tech companies in the us. They offered me a 3 month contract (FT) with option to renew.
I'm concerned because the pay isn't that good and I know the security working for a boutqiue consulting isn't that good either.
Originally I had wanted to go MBB but never got any offers. Second to that I looked at finance firms. I know a few people who are portfolio managers/CFA's and almost all of them made tons of money and loved what they do. I've always followed the markets so I always thought it was an interesting career.
Two questions:
What is the career progression in AM? More specifically to a PM? The job sounds super interesting, they are generally well paid, get to work with numbers, etc. What is a good first job to look for?
Can someone compare the AM/PWM/PM pay growth to that of consulting? I just don't know that many people so I wonder how lucrative it is at the boutique level. I know a number of boutique funds who still make a ton of money.
Does my experience with project management transfer well. Should I try to take my CFA level 1 while working for the consulting firm if I want to move into PM? How can I leverage it?
Is job switching bad? Should i stick it out for a year, see how it goes, then switch?
can i bump?
?
May I know in which country do you plan to work??? I am Spanish and my experience may not be useful.
You generally start as a (research) associate/analyst and with solid performance you can become a PM in about 10 yrs, more or less. Career development is very firm-specific. It is not impossible but not easy either. We generally hire someone right out of college or with experience in finance. Without genuine interest in investing no one will buy your story or willingness to switch. Read books, newspapers on investments/finance and start investing on your own. Learn to read 10k, perform valuation,etc. not just to write on the CL but to actually learn. Good luck.
Transition from MBB to ER or AM (Originally Posted: 07/31/2014)
During my research on MBB, I have read about opportunities to exit from MBB consulting into Asset Management or equity research (on several websites). However, I have never seen such a transition and did not find a post regarding this topic on wso.
Is it really true that MBB consultants can enter ER or AM after they startet their consulting career out of university (I am going to start in Europe after my master this year)? And if yes, do they start at analyst level or above? I am especially interested into the situation in Europe.
What I know is that there are opps to PE, but I did not notice real opportunities to more market related jobs. Any insights?
Via business school, yes. Otherwise pretty tough. Also, "analyst" is a relatively senior role in ER/AM, usually post-MBA, and in the case of sell-side research it can be post-MBA + 3-4 years. You are likely looking for a lateral into an Associate role after a short consulting stint.
ER guy here.
We have ex consultants in the associate ranks here who came directly from consulting. In the analyst ranks, there are ex consultants, but as far as I know, they all used a MBA to transition and then had to put in another 2-5 years to become a full fledged analyst (not just an associate covering some smaller stocks).
Thanks to both of you for your advice! The "analyst" role was a mistake from my side. What I meant was the entry-position after university (but before MBA). As far as I understand the situation, it is possible to join ER/AM after a ~1-2 yr stint at MBB in a non-entry-position. Therefore, I would not "loose" much time, because I can join at the associate rank? Does this logic apply to the major players? Which projects did the consultants in your firm cover before entering ER (DD, strategy, specific industries)?
Really appreciate your insights!
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