Confused about BO/MO/FO in Blackrock
I was under the impression that only the portfolio management team was FO for Blackrock but recently learned that other divisions like fixed income and such were also under FO.
Thus, I was curious to know what roles at Blackrock were BO/MO/FO? Particularly, I'm curious abt where a role like product strategy for fixed income lands in this categorization.
I'd say Product Strategy still falls under FO. I think a useful way to think about it is that FO is anything revenue-generating, so of course Portfolio Managers, but also generally Traders, Research Analysts, Quants, Sales and so on.
MO: Risk Management, Compliance, and Operations Support, IT Support
BO: Administrative and Operational Functions, like Trade Operations/Settlement, Investor Services, HR, Legal
In practice, people generally don't think really about which of these they are in. And out of the three the main distinction is between FO and non-FO (BO and MO). FO is involved in revenue generation and hence gets higher pay of course.
Thanks for the insight, and that makes sense.
On a side note, would you happen to know what comp/exits are like for product strategy here at Blackrock? (at least at the jr-mid jr lvl)
I don't know about that, so can't help unfortunately.
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