Thoughts on Schroders?
Currently overthinking this offer I have from the firm as a graduate analyst . The graduate program lasts 2 years, entails rigorous training and prep for IMC & CFA. The firm has grown quite well in terms of expansion but I have no idea what the culture is like. I like AM a lot, and I have been too desperate to get in.
If I'm being honest I am really shocked by how little they pay. In total, this is about 40% of what I'm offered on the sellside. And you know being 24 years old makes it difficult to live with that comp. I've already passed two levels of the CFA and so I will likely learn a lot. Now I just need some insight into the firm, its culture, style of work, WLB, career progression, comp after promotion etc. Do they have good retention rates? Do they pay analysts well after promotion?
Appreciate any insight.
Anyone?
Let them know what you were making before and the level of experience you are bringing to the role aka. Negotiate a higher starting pay. Then, ask them to give you an idea of earnings trajectory in 2-3 y if you are doing a good job. If the earnings in 3 y isn't higher than your sellside pay then probably a bad sign
You can track retention yourself by going through LinkedIn bios
I worked in their New York office as an intern but turned down their full-time offer because their comp was below street and their rotational program included non-investment areas. They have an amazing culture and most people would be out of the office by 5/5:30 with the only except being the emerging market team.
hey, what was the 1st year analyst pay as a matter of interest?
London is £45,000 for Graduates (Source - Jobs Postings)
75-80k with a really low bonus for the NYC office. Disclaimer, it's been a few years so maybe the starting salary is slightly better.
they have fantastic culture and very nice people.
career progression / internal mobility is great too - if you start in NY, you can get opportunities to move to London if you want . London is where most investment professionals are based in, and Schroders' reputation trumps larger US firms like Cap/Fido/Trowe, etc.
The cons: as you correctly mentioned, their pay is below avg, probably because it's a UK based firm and also being public means they need to be more cost conscious.
What I can say is as you progress into a more senior role, your gap vs. peers in US firms will be even larger. But most of the people I know tends to stay there for long and are happier than their peers in other larger US LO firms as Schroders ppl does more interesting work & WLB/ benefits are better. PM me if you want to know more.
Large gap between Uk and US LO. Both in terms of comp and culture.
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