Summer Intern at PIMCO
Hi all,
I go to a top 15 Undergrad, major in math, want to work in asset management and recently was hired as a summer analyst for PIMCO in Newport Beach. The pay seems quite competitive to me at $43.26 an hour (90 pro rated) with a 7500 relocation stipened. Seems like a lot of money.
I accepted as I had no other offers (had a Superday with Goldman as a Quant Strat at least however)
As a young person about to enter the adult world, I guess I am a bit worried that PIMCO will pigeonhole me to Fixed Income and that the position isn't as glorious as let's say Goldman Sachs IB in NYC on my resume. I feel silly saying this as my hourly pay is more than my parents even make, and they think I am being ungrateful and overthinking it.
So, how should I feel? Many have told me PIMCO is a superb company that is just as respected and excellent in AM as JPM/GS/MS in their fields. But also many of my classmates have never really heard of PIMCO.
I guess I just want to make sure I am making the right decision by taking this opportunity.
So what do you think? Please be honest, I just want to listen.
Yours,
Humble Student
ROFL you don't deserve to work at PIMCO, go work in IB for a couple years first haha
I have three relationships with PIMCO: an end user investor client, as a FA who uses their funds with clients, and very close to some who work there. PIMCO is elite. It is a deep knowledge shop that will look great on a resume should you apply to top MBAs or want to move elsewhere. Many get to PIMCO and stay for a long time. They come from the other shops you mentiion.
You will be surrounded by extremely smart people who work hard to create great client outcomes. Congrats on the offer. If you want to be in AM, about the best place you could start!
Go on their website and start watching their webinars /videos. Also, check out the "Expert" section of the site and see the background of their crew. I think you'll find what you're looking for.
I think your friends are the losers here for NOT knowing who PIMCO is.
Bro PIMCO is, at least widely viewed as, the gold standard for FI asset management — they’re a top notch firm. Assuming you want to stay in AM, you won’t run into any issues with anyone “not knowing who they are”. As far as being pigeonholed, since credit research has more moving parts and is more macro driven than the equity market, it’d be easier to make a case to pivot to ER as opposed to the inverse (at least imo).
👎 opposite is true. Equities are much more complicated. It’s far easier to go from equities to FI than vice versa.
When you say equities are more complicated, not sure what you're referring to. Job search related that may be (I have no idea). If you're referring to the actual equities market vs. FI market I'm sure you're mistaken. So many more variables in FI.
Think of it this way. A company like Disney has 1 stock (DIS). Yes I understand the eq market deals with options and derivatives, but they are derivatives of DIS. At the same time, they may have 20 or 30 different bond offerings out there, each with different maturities, coupon rates, callable option. They may have some direct lending deals with large AM shops that work totally different than a traditional bond. When someone asks about DIS stock, you can quote a price. If they ask about a DIS bond you would get many different answers and have to narrow down to a specific security. Far more moving parts.
Former PIMCO, happy to chat. pls dm
hi, can you dm me? I have few questions about PIMCO!
Sent a pm as well!
PIMCO’s great if you care about fundamental investing. Asset class won’t pigeonhole you at all.
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