Have an offer from one and an interview with another. Buyside is nice but it is not a FO role likely doing a lot risk reports. Potential for PM placement in the future but it is likely tough to get there.
FICC research (HY) is front office, but it is sell side and revenues are shrinking.
Anyone have any insight as mobility within PAG? Ultimately I would like to do buyside research and move to portfolio manager role. What's the better spot to start at?
Take the RBC offer.
probably RBC for your goals but overall BLK might be a better choice..
bump for someone with more experience to comment
So even if it is buyside versus sellside always take the FO role over MO?
Go with whatever role offers the best experience and future opportunities. In my opinion, it will be HY research at RBC. I have kids from BlackRock PAG reaching out to me asking to meet/network. I doubt it's that good over there at PAG if they are struggling to land a sell side ER gig.
PAG is actually on the FI side, but it appears like FO research will set me up better for the future. Thanks for the advice.
I worked in a PAG like group at a BlackRock competitor.
I can say its a really good way to get your feet wet in the Asset Management business. It is both a pro and a con that your knowledge base of different investing groups becomes an inch deep and a mile wide. On one hand, you get to understand several different products, their trends, and how they are delivering alpha. On the other, you're not actually making any of the investment decisions, but rather informing the actual investment team on where they stand, whats working, and what is not. Additionally, you will have to do some of the grunt work - while your coworkers in research will be working on actual investment ideas, you'll be generating reports. It is really just a trade off.
PAG is certainly a great starting block, and I've seen several people in that group from my old firm make the (internal or external) switch to a research role within one of the products they've covered, usually with a CFA. I've also seen a few go to sell side desks after a couple of years. Finally, I've seen some jump to bschool.
That said, we've also hired a lot of sell side research guys over to buyside research roles. I don't know what BlackRock's internal mobility is like, but it seems both paths could get you there.
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