BlackRock PAG
hi,
I am very interested in applying to BlackRock PAG, i got a frd who just had an offer from them in London. I have been doing some serious research about BR, BRS and PAG and other divisions within the firm. But I had a really negative feeling after reading through the comments and stuff and would like to invite anybody who has worked at BlackRock or know about BLK to share their opinion on my findings and correct me if i m wrong.
Findings: -The PAG first/second years work about 60-70 hours a week (on Sunday as well)(occasional long hours), but hours start to decline a bit after 1.5 years.
-pay is subpar to industry for work of the same type. I once thought that pay is similar to entry-level analysts at BBs. But it seems it is about 20% less.
-the PAG position is too tech and skills is not transferrable to PMG. Although HRs and other keep saying PAG gives a chance to understand to prop trading system thoroughly, so easier to move to PMG, that is not the case in reality.
-the moral is low and turnover is reali high in PAG as ppl feel like their hardwork is not well paid for and slim chance of moving up the career ladder or moving to PMG, even the name change to associate, still work analyst hours and the increase in pay is a joke.
-Although there have been 2 rounds of layoffs. The BGI integration is still a mess and loads of middle-level people floating around, and junior ppl are used often as resources and had no motivation.
-good thing is the $ support for CFA study, but outside money support for that, pathetic training is provided.
-another good thing is the retention ratio is high. I guess if sb can tolerate all the above, he can stay long relative to in BBs where average is like 2.8yrs. But i think a lot of people either like it or hate it. Many choose to jump ships whenver possible.
Questions: -some even say the PAG is only a "glorified call center" , any comment on this? -do you think the pay is ok given the hours? how abt bonuses? -exit ops? (like PE or HF)
I will appreciate very much if you can advice on these thanks!
bump up
bump up
got a few friends working there, pag nyc.
if you are seeking a front office type of role, you probably want to avoid it.
"the PAG position is too tech and skills is not transferrable to PMG. Although HRs and other keep saying PAG gives a chance to understand to prop trading system thoroughly, so easier to move to PMG, that is not the case in reality. "
you are right, not the case at all.
"another good thing is the retention ratio is high. "
they can't afford to have more people quit...
"exit ops? (like PE or HF)"
You'd better have a strong network...
bump
don't scare me guys, I'm gonna be there for SA
you are fine.
do SA there, get that name on resume, and get a full-time offer somewhere else.
To Bertcamel: I got an assessment day coming up for SA in London. Do you mind sharing what questions are asked for the problem solving section and what group activities you guys did?
sure, we didn't have a problem solving section. The interviewers were casual and asked a lot of fit questions. Technical mostly revolved around bonds and general market knowledge. It wasn't terribly intense. I would say showing an interest in fixed-income and quantitative work is important. But this is for PAG in NY
Thank you Bert. That was helpful to know!
i got all technicals lol..a lot about greeks
bump bump can anyone else comment on the exit opps part? where do people go assuming they leave the firm?
Are there any updates on this? I'm interested in learning about the group as well.
bump curious to see how things turned out in 2016
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