Asset Management Recruiting - When do AMs usually recruit?

For undergrads, AM recruits in the fall, September through mid-November. There are very, very few positions. Even a giant like Fido takes just a handful of new research associates. These slots may be largely filled by returning interns. So, you might see a $500B + fund hiring 1 or 2 people.

If you are talking about the AM arms of banks, I am less certain. I imagine with the other positions (so early fall) but I do not have any personal experience. AM in a BB never held interest for me.

I suspect it's less a function of school among the M7 than it is interest of the student body.

The timeline tends to be a little less formal, but big shops should already be recruiting if they aren't already done so you should definitely keep your eyes open. Small shops are all over the map however, and it isn't uncommon to see them post as late as April/May.

Interesting. If someone could give some information...

If it's a small group it will probably just be the MDs. At larger shops or larger groups, there are usually experienced analysts who are somewhat in charge of strategy and decision-making that get selected to help interview.

If you're a senior aka full-time, then yes. These places recruit on the same schedule as banking (maybe slightly later) meaning August - October. They're mostly done recruiting by now.

I don't think there's a pecking order like that. If you're at M7 then you have an equal shot from any of them I'd say.

what about PIMCO?

The first round for the offer I received for a top buy side AM took place in September. The ship has sailed for everything but regional boutiques recruiting off cycle.

Like just about anything in life, it depends. The larger firms like Fido, T Rowe, Wellington, etc will recruit in the fall just like the banks do. Smaller boutiques and many hedge funds don't start looking until the spring when they realize "oh shit we need a peon ASAP!"

^^ Why would start in AM within a BB, wouldn't it be better to start in (Equity) Research?

Agree with the guy above, it is exactly the same as other areas of finance. We recruit our incoming associate class in early fall, as do the other big names in the space. Focus on networking into a position at smaller boutique at this point .

AM branch at BB is just sell side analyst vs buy side analyst at AM firms.