Senior Analyst/PM Toxicity
A friend was describing an interesting situation to me, and asked for advice and I was stumped on what to say. Curious if anyone has thoughts on it.
He works at a fund that works with a style of junior analyst + senior analyst structure. He is pretty junior and been working at this fund for a short time. His senior analyst has been in the industry for a very long time. The way their process normally works, is that the senior gives him ideas, and he will do the work + model for the name. The senior will then take over the model and the name if they decide to move forward with it. Trading decisions are made without asking his opinion and he doesn't have any say in sizing. Apparently he can't even see trades.
There have been quite a few instances where names have gone against them, and the senior analyst has blamed/gotten mad at him after the name has moved a ton.
How would you best go about addressing this situation? I assume this isn't an uncommon situation.
This is fairly common. In this industry, all upside is your boss's credit and all downside blame on the analysts. It's unfair and shit but it's the way it is.
Find a different firm / team / analyst to work for. People don’t change
If it stays this way for more than 1.5yrs leave if you can
Interesting wait time. What it would change into should be considered acceptable then?
Be patient and (patiently) recruit elsewhere. As said above, PMs don't change. My own experience.
I’ve been in a role where this changed after year 1, but I did have to get a 2nd offer and force it
I was in almost this exact same situation. What I did was I basically just side stepped the analyst (and I took a lot of risk doing it) and pitched some ideas to the PM which made a ton of money so I “won” the ability to be more independent. However I ended up leaving anyways because the team culture was just rly toxic. So I guess lesson is just leave immediately instead of working it out. My 2c
Toxic culture aside, I would look to leave because it's hard to work under another analyst who probably isn't going anywhere anytime soon.
How is the relationship when things go well? Who does he report to in the firm?
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