Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
May 31, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
numbersloth, pure crickets, that's where I come in. Any of these useful?
More suggestions...
Hope that helps.
I’ve heard good things. Nothing personal or first hand, but the culture there is supposedly very strong and the head honcho is married into the founder’s family I believe. Might be wrong though. Very growth oriented, you hit the nail on the head with sector focus. Overall, seems like a good shop to me. Check glassdoor for comp.
Last I'd checked their performance was iffy
Spoke with someone there a while back who didn't like the culture & was trying to leave
I'd verify all this but didn't paint a good picture esp as they haven't grown AUM at all (actually shrank)
Reposting this from another Fred Alger thread:
Proceed with caution at Alger:
Alger has an incredibly high churn rate in the lower and mid level ranks but exit ops are not bad - people regularly leaving for other roles on buyside (most frequently to the major pod-shops but also to other solid l/s HFs and also corp dev outside of finance - activist not an exit op as far as I’m aware) people leave because to many people it is a pretty miserable place to work - there is a good vibe amongst the analysts but the PMs are disorganized, lack a structured investment process, and, worst of all, regularly yell at their analysts as a form of giving feedback (maybe this is common elsewhere on buyside but it seemed like a pretty outdated form of communication to me in this day and age).
Additionally, ‘head honcho’ can be arrogant, insecure, volatile, and narcissistic - e.g. dropping hints about how rich he is when the market is down to give himself a boost and often going on angry rants, laying into a specific analyst publicly on group Zoom calls from one small thing which triggers him which then snowballs into a 5-10 minute yelling monologue against the analyst who had a small error in their comp table or hadn’t updated the model of an unowned name for the quarter etc etc - this is pretty bad for morale at the firm and the other PMs adopt similar communication styles by osmosis.
Overall - this firm is a decent place to train - but statistically you will not find yourself to be super happy after the first year or so, and looking to move elsewhere - that being said, there are occasionally people who stick around but I would say the churn rate is almost as high as in a typical BB IB analyst program (~90% after 3-4 years - disclosure: this might not be totally accurate for IB, happy to be corrected, but is accurate for Alger).
Oh, and comp is also pretty trash.
Sounds like this place is hot garbage. Might be ok for banking but high turnover in AM is a HUGE red flag.
Parts of this are pretty consistent with what I've been told by others in the industry.
This is a general comment: If you're getting into the AM world, be careful with "sub-scale" AUM asset managers. The way passive is eating active's lunch (see multiples of publicly traded managers), it's possible only the biggest and strongest will survive the disruption.
Enim nesciunt aliquam autem excepturi voluptatibus est. Ut iure laborum corporis debitis sunt nesciunt illo suscipit. Fuga voluptatem alias dolorem eligendi. Maxime aperiam eius quis quas tempore dolorem. Dolore quisquam autem rerum omnis quis similique rerum et. Et tempore magni est ducimus explicabo tempora. Laudantium deleniti nemo qui magnam commodi unde temporibus tempore.
Molestias quasi sed exercitationem minima. Voluptatibus cum quisquam enim. Numquam iure qui itaque nobis reiciendis. Impedit impedit nisi dolore autem. Dicta asperiores ut quia dicta ea. Sint quia quibusdam ea veritatis. Mollitia explicabo possimus et eum.
Eos fugiat quasi vero et dignissimos aut. In voluptates aut aut debitis. Nostrum nesciunt repellendus error explicabo vel vitae labore.
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...