Wellington vs MFS vs Fidelity?
Hi chimps,
Am in the late stages for 2 out of 3 of these AMs. Would like a little more colour from people who've been to these places. For juniors, which firm is the best in terms of (1) training and exposure followed by (2) career prospects and finally (3) compensation?
MFS bottom. I’d say Fidelity. Can’t go wrong either way
Wellington and Fidelity are equally prestigious and if you spend long enough there and move into a PM role, the money will be equally huge. Wellington does have the kicker of the potential for partnership, but having worked there myself and knowing a lot of people there, it can be very political to get that so I wouldn't count on it.
MFS solid shop, I've met lots of people from there over the years and they are always interesting people and seem good at what they do. It is just a level below Wellington/Fidelity
Out of curiousity where does cap group fit in this conversation? Not the cap associate program.
Yeah its a good shout. Cap Group is definitely up there with Wellington/Fidelity. They have a really unique model in terms of analysts running their own books, which are fed into the main funds. Seems to work very well.
So where does it fit into the conversation you ask? Basically if you can get in to any of Wellington/Cap Group/Fidelity, do well and move into a risk taking seat, you are set. They are all pretty similar in terms of nice places to work, interesting people etc., but these jobs really are the best of all worlds in my view (in terms of balancing risk taking/long term stability/comp/work like balance)
Wellington and Fidelity have similar brand but go about things differently in that Fido you are more independent with a coverage universe from the start and wellington is more apprentice. Both different approaches but both good. Wellington partnership is good, but Fido has private shares. Politics are everywhere other than pods so that should not be a factor. Wellington has some alts guys and they contribute to the investment discussion from time to time so that adds a dimension that the other two cannot. You can get promoted to analyst from RA at all three. Comp is pretty similar in Wellington and Fidelity until you start managing money or if you can contribute to some hedge funds at Wellington. Happy to chat more through PM, I am in industry.
What does analyst comp start at for these shops and how does it scale over the first five years?
Is this for FT or internship?
FT
I was one bad reference away from an offer at MFS for FT out of undergrad (research associate). That's the one big "I'd be in a different place right now" had I gotten that.
That being said, yeah - Wellington & Fidelity are a step above it. Heard great things at the junior level for MFS (mind you this was easily...12 years ago at this point lol), and great things about Wellington (bit more recent on that one). Know 1-2 peeps who did the Fidelity RA program and they weren't particularly pleasant.
What do you mean by reference? Did they give you an offer and then revoke it after speaking to references?
Not formally gave me an offer, but an alumni contact of mine there confirmed after my final rounds "yeah they were ready to give you an offer but one of your references gave a bad reference" which threw me for a complete curveball. This is from a guy who offered to give me a reference too. Was my first instance of someone actively sabotaging me out of spite.
Mind sharing where you are now? Curious
Between things at the moment, spent a few years in research then at a lower ranked LO.
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