hey guys! I received an invitation to pimco prep this month and plan to recruit for their real estate and special situation teams. However, there's not a lot of information on WSO and I'm curious if yall could shed some light on this? thx!
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Last cycle didn’t start recruiting until mid-late fall time- not sure what this upcoming cycle will look like as many competing MFs are finished/underway already with recruiting for RE roles. Their CRE team is pretty low key but the people are generally very chill, I recommend just reaching out and getting in touch
Their alt credit and private strategies internship is their only investment role for undergrads (PIMCO trying to develop a track to PM without an MBA) at the moment which is what makes it so competitive. The alt credit division (~$140B) is split into RE and special sits, and you only recruit for one, not both. Majority of the team is based in their NY office, not Newport Beach. Interviews start as early as April for the following summer. They only took 9 interns for the whole division in my year, with 4 in special sits. The internship for the special sits team is 2 rotations across private distressed debt and more opportunistic special sits. Actual work was quite autonomous and we were expected to be up to speed with modeling skills pretty quickly. Comp is in-line with other credit arms at MFs. Hope this helps.
Source: Previous intern in said group
Thanks! Can you also offer some insight on the estimated hours and comps? Heard it’s around 50-60 hours and 170k for the real estate team but not sure how exact the numbers are for Alts in general
Almost definitely not 50h. I think things at PIMCO will be more relaxed, 60h weekly as an Analyst (instead of 80-100 in banks), probably equally bad hours if there's a deal that's causing headaches.
curious as well - what are the estimated comps for first years?
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