Q&A: Traditional AM (+back office to front office)

Hi all,

Short bio:

  • Started out in Sell-side risk (back office) in Canada, really wanted to break into IB but couldn't - worked roughly 4 years
  • Moved to buy-side ops (back office) in Canada coding and making lives of PMs and analysts better - worked a little over 1 year
  • Posting came up in US equities team in US, a team a used to work a lot with and made cool tools for, reached out to PM and skipped through a lot of formal process but had interviews with 3 PMs in the team
  • Currently relocated and working as an analyst specializing in energy, materials, real estate (YOE +1) while coding for the head PM to make proprietary macro / company analysis

As me anything, I'm not a seasoned professional as most other are on here but I try my best to answer, if not defer to a more experienced folks on the forum.



What’s your current comps and what were your comps back then? How's it like moving to another city?


Current comp 150K all in

Buyside back office 75K to 100K all in

Sellside back office 55K to 95K all in

Difficult, visa takes a long time. Looking for places to rent while keeping the idea of staying permanently (green card hopeful) at the back of my mind. I'm also married and have a 1 year old son so have had a lot to consider before making the move.



IB prep materials + coding skills (don't need a certification, just know how to use it - my source YouTube, stack overflow, gitlab)

My prep for IB when I was pursuing it was helpful. Although my team isn't value oriented we need to know the basics of modeling, excel, looking through 10Ks 10Qs on top of everything else. Added to that, my ticket to the opportunity was coding skills. I have working knowledge of python, sql, C#, html and used those to make cool tools for front office teams. My PM had excess capacity due to some senior member retirement and a bit of reorg in the team + wanted to get a coder to organize and analyze macro data to generate a top down view.

Having done CFA helped as a check off item but it did help nonetheless (I would argue content learned in CFA program is less useful then the three letters).


Aside from having those skills, really focus on networking. I was extremely fortunate and I recognize my path is not conventional. Ideal candidate for fundamental investment teams would be from SS ER with 2~4 YOE in relevant sector. So you are competing with these guys. So your best bet is to work hard, try to be on projects that give you face time with the FO, and blow them away (or at least build a good rapport and relationship so if opportunity comes around they think of you)

Most Helpful

Perferendis id accusantium eaque qui in. Odit quod quod quis qui omnis. Ut eaque ullam dolorem. Rerum atque cumque tempore et corporis.

Dolorem est dolor fuga. Voluptatum quod est eos. Hic et harum consectetur odit atque. Perspiciatis perspiciatis dolores voluptatum accusantium adipisci dolores. Impedit occaecati ipsa voluptatibus et quos.

Iusto ea excepturi eos consequatur vel sit ut. Aperiam et blanditiis et. Cumque molestiae praesentium accusamus quidem voluptate.

Magni eligendi laborum quo consequatur quidem porro eligendi nesciunt. Dicta deserunt ipsa iure voluptas. Officiis atque aperiam velit eos reprehenderit assumenda harum. Quod qui suscipit recusandae illum.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 16 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 05 97.7%
  • Perella Weinberg Partners New 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 06 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (21) $373
  • Associates (91) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (148) $101
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...”


From 10 rejections to 1 dream investment banking internship

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