Guys,
I have searched through the Forums and it primarily speaks about summer analyst and entry level analyst positions. I am trying to get more general thoughts and perspectives on BlackRock (NYC)
Opinions? Thoughts? Suggestions? This is supposed to be open-ended.
What division? PMG is notoriously difficult to land a gig in and pretty much the best place you can be in AM as a recent graduate. Don't know much about GCG or the other teams but I would assume the brand name is enough. It is afterall the largest AM in the world. Very different work culture too - they keep on to their employees for a very long time and it's rare to find BlackRock employees on the job market. They are also very much against creating superstars internally and prefer team recognition. Overall I'd say for AM this is it - some of the very best minds in the business.
This. And also have heard that there is a decent amount of mobility between groups here. Have a few friends in PAG that know of former PAG --> PMGs. None of my friends have made the jump as of now (recent grads), don't know if it's just something they sell the PAG group on. Nevertheless, most groups in BLK are going to be tough to get into and great to stay in. Agree with englandwales that it's pretty much the gold standard in regards to AM.
This is funny.
How so?
I think it's a little bold is all... to say Blackrock is the "pretty much the best place you can be in AM as a recent graduate."
I'd agree that it's one of the best super-sized highly-accessible multi-strategy asset manager to work at as a recent graduate, but that's about it. There's a handful of places that crush BLK and are way better talent factories. Certain groups within certain asset managers are significantly better than others, and that kind of stuff should be taken into account, not just as simple as Blackrock = best, Dodge = great, Fidelity = good, and so on. For example I'd much rather be in Large Cap Growth at TROW than Blackrock and would never work in Small Cap Value at Fido, etc.
Has anyone heard of their Corporate Strategy group... thoughts on this? Also, can anyone speak more to how open they are to internal mobility? How does the process work?
Just general thoughts here. Nothing specific.
Any others thoughts and opinions?
90% of PMG lies in index funds. You do the same thing today as the next day, and the next day, and the next day, and the next day...growth is slow as the company is slowing down.
PAG is affectionately called the firefighting group. They invest in operations people instead of improving IT so they man up on supporting their crap software products. Somewhat a move for job security, but ironically results in a ridiculously stressful work environment.
Overall, bonuses are down 15-20% and will continue downward as investors move from higher fee investment products to lower fee pproducts.
BlackRock looks good on the resume. Get 2 years on there, and then run for the hills!
Can anyone tell me what PAG and PMG is? Those aren't acronyms that I'm familiar with.
Thanks!
Portfolio Analytics Group; Portfolio Management Group
The first one is the sweatshop; the second is the front office equivalent.
1) PAG - total sweat shop like Nabooru said. You'll work with many different types of businesses and fight their fires. You'll learn about different groups in finance and what they do. Very tough job, I don't envy these guys. IF you do well and put your name out there, it can make it happen for you in the long run.
2) PMG - you're in a very regimented role. You'll do the same thing every single day, and promotion/progress is highly independent of your performance. You'll do better here if you know exactly what you want and you want to be a portfolio manager.
Bottom line, I would say again, is get 2 years here, and run for the hills.
My friend is going to BlackRock within their new alternatives division with newly built PE Funds (Direct, not FOF [ I tried interviewing for both and it didn't work out]). Seems like this is a new place of growth as that's what I heard.
Voluptas corrupti est assumenda quia maiores. Eos qui ea officia neque officia molestias. Tenetur saepe in impedit optio veritatis doloremque optio. Ipsa eaque dignissimos nostrum animi voluptatibus accusamus iusto possimus.
Debitis molestiae ea inventore velit illo vitae nihil cupiditate. Quibusdam et voluptates ad voluptatem molestias minus aliquam. Rerum repellat eos rerum est dolorem et laborum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...