What do my exit opps look like after 2/3 years postgrad at a LO?
Current research associate at Wellington/Capital/D&C/Fidelity/TRP. Unlikely I will be able to move up to analyst, so I'll be looking to leave after 2 or 3 years in my job. What are my best options for my next stop? As I understand it, it's a tough time to move because I'd be too junior to be a full analyst, and I'm not sure how many senior associate / junior analyst roles there are. Want to do fundamental, longer-term investing, so I'd be targeting LO or SM. Thanks!
With your background, if you reach out to headhunters or network, you should be able to get looks from SM funds certainly and MM funds possibly.
Is 2 YOE at my current fund a good number for SM do you think? Or would I be better served by staying longer before recruiting?
2 YOE is fine. I know people from large LOs (think Baron / RCG) that have gotten interviews from SMs people on this forum gush over.
Depends on where you are. Capital doesn't hire associates out of undergrad so you're at Wellington/Fidelity/D&C/TRP. Better to stay at Wellington/Fidelity as they promote associates to analysts if you're good.
If you want a meaningful jump from D&C/TRP, then go to top MBA as placements from LO are often very good then you can target analyst seat at LO or SM
Capital does have an associate program. As for the rest, it doesn't really matter which one I'm at. For the purposes of the question I'm asking, all you need to know is that I won't be moving up internally so I'll need to lateral. MBA is a good idea, but I'd like to spend a few more years in the workforce before trying it out.
Just stay there man. The senior guys at those funds make more than any PE or HF guy
What part of "Unlikely I will be able to move up to analyst, so I'll be looking to leave after 2 or 3 years in my job." did you not understand?
They push associates out.
Yeah, but they generally don't promote internally from junior roles. You have to move to advance.
What kind of comp are we talking and what do these guys even do to warrant such a comp??
Maybe unpopular here, but I would recommend an MBA. This is still the primary recruiting pipeline for PM-track LO roles, and many SM's hire MBA's as well.
It's expensive, but it puts you in the running for some high-quality roles you otherwise wouldn't be considered for
Yea because an MBA teaches you how to invest/beat the mkt. I hate LO culture. Not saying I disagree with the above comments, I think an MBA is also the best route for you. I just hate the marketing>performance culture of LOs.
they get paid on aum not returns
blame LPs
True
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