Asset Management/Investment Management Gig out of Undergraduate?
Hey Guys
I was wondering how the job prospects were to get a decent job at a Asset Management or asset management job right out of undergraduate business school. I am planning to continue graduate studies afterwards and I am looking just to gain some simple real world AM/IM experience so I am not looking necessarily for a big name like BlackRock but at least something along the lines of Merrill Lynch or a smaller firm, but overall a pretty decent job at one of the mid to smaller types of firms. How hard would it exactly be?
Thanks
There is definitely recruiting for BBs for their AM arms. There are also mutual fund companies and traditional asset managers like Blackrock, Fidelity, etc.
Then there are a bunch of really small places that want research analyst/associates.
They are out there, but you definetly have to go network for them, especially any non-BB AM funds
How to get in Asset management straight out of undergrad. (Originally Posted: 10/14/2015)
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Ha I'm actually trying to do the same thing, but out of ER which for me so far has been a dry, life sucking experience.
Obviously can't give you advice on how to break in, but I'm pretty sure places like Wellington and Fidelity have research associate programs for which they recruit some undergrads. Also you might want to try joining the local CFA Society, do some ass kissing, and see if you can get someone interested.
In terms of books/training, beyond reading general investing books, I'd recommend taking some course work that will sharpen your abstract thinking. You'll see later on in the industry that valuation is not some cut and dry number crunching formula like some finance classes make it out to be. Being able to critically analyze and make sense of information will go a long way for you.
am firms that hire undergrads (Originally Posted: 04/24/2012)
What would be some am firms that hire right out of undergrad? I don't graduate until next year but wanted to get feel for where the job markets where at in terms of entry level positions. I found that Boston has quite a few shops(fidelity,putnam,wellington,state street) but not sure what level they typically hire at.
These are some details about me-
School: Penn state (satellite campus) Degree: B.S. Finance Gpa: 3.7 Internships: 1. Insurance company, budget analyst 2. Local financial advisory firm, shadowed brokers
Primary locations looking for: Boston, Philadelphia, Baltimore, New York Departments desired: Research , trading, risk management
JP Morgan Investment Management hires out of undergrad, as well as Goldman Sachs AM. Awesome places but would be tough to break into unless you can find alums there.
Penn State has a lot of alumni all over the place so check Linkedin and start cold emailing.
T.Rowe Price in Baltimore and Owings Mills (near Baltimore) hires heavily out of undergrad from what I've seen. Legg Mason, PNC, and M and T bank come to mind as well.
AllianceBernstein and BlackRock also hire straight out of undergrad, but again you'd need relevant experience to be able to attain a full time opportunity at these places.
Fidelity hires out of undergrad, but only about 5 out of about 1000 applicants (this year at least).
aside from the ones mentioned, wellington and putnam also hire out of undergrad for research associates. I think that vanguard also hires for some roles.
But just for fair warning, getting a research/trading job at any of these firms is quite difficult, especially without a solid junior year internship. While the 5/1000 number above is slightly exaggerated (the 5 is only for equity research associates, it doesn't count fixed income/trading/rotational roles), it will be extremely difficult to get one of these jobs without OCR and coming from a penn state satellite. You may have to look at smaller firms.
Aberdeen Asset Management is a great firm that has its North American office in Philadelphia. I would definitely send them my resume if I were you. They have an amazing 18 month rotational, get to live in London & Scotland for free for 6 months. It's also pretty big company. I interned there as a junior, but they also take seniors into their program. Pretty flexible with letting people into their graduate program, they don't stick to rigid application process.
Thanks that's helps a lot, Another thought is that my long term goal is to get into a MBA program after a few years in the field, That being said what would graduate programs like to see more. A position in the department that is most suited for what my interests are in, or should I just try to find anything at a well known firm so they can recognize the firm without asking?
IT would be far easier to list the ones that dont hire undergrads.
That would be none.
Doesn't D.E. Shaw hire out of ugrad as well?
D.E. Shaw does, but you basically have to be a computer genius along with being from HYSWP. It's more difficult than SilverLake or Blackstone I hear.
Undergraduate program for Investment Management (Originally Posted: 12/30/2009)
Hello,
I want to pursue a career in money management, currently starting a program as a Finance major at a CC in California. Now i am considering what courses to choose and what universities to narrow for transfer. I would be very thankful if you could tell me what courses are a MUST and a top of universities regarding Asset Management :-).
Thank you and a Happy New Year!
Take whatever you need to take to get into Berkeley as a transfer for econ/Haas.
Asset Management - FT firms and boutiques to target as an undergrad (Originally Posted: 12/28/2011)
Currently a senior graduating in the spring, interested in a career in institutional investment management. I'm from a non-target, 3.8 GPA, various internships (JPM, GS, ML), graduated top of my class as a first generation college student. Any advice on what firms or boutiques I should be targeting. I've applied to GSAM, JPM AM, BNY, BlackRock, Fidelity, MFS, Acadian AM, Wellington, Barclays. What other places do you think I have the most leverage to get a FT opportunity coming out of undergrad.
Most of those, if not all, are done recruiting for full-time spots.
Why didn't you start looking summer/early fall?
Yeah, recruiting is pretty much over at the big name shops. Smaller buyside gigs will pop up in the spring, so sit tight and keep your eyes peeled until then
Most of those wrapped up recruiting by mid-November, if not October. You can always get lucky, but you really missed the recruiting cycle. If your school has any alums at boutiques, I would try networking there...but many smaller firms just aren't recruiting this year.
I know I should've been looking earlier but I didn't know what I wanted to do and didn't want to apply for random positions. I have contacts at most of those firms who are sending my resume around but I agree, I think I'm just going to target to boutiques. What names do you think I should be looking at?
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