Dealing with PM (equities) who is trying to limit your progressSubscribe
Hi Guys, I'm currently at a L/S equity fund, not too big, but in the 50-100M USD range. The thing is, I've been at this shop for less than a year, but I've discovered that the PM is incredibly difficult to work with. In that he is a poor people manager and actually goes to great lengths to keep analysts from building out their areas of expertise, in order to (in my view) limit the possibility that analysts take this experience with them and go somewhere else. This PM also likes to micromanage, so we all just spend time crunching numbers, but are not allowed any flexibility to make calls, even to pitch stocks. The PM generates all of the ideas and even when the few analysts pitch something that makes a lot of sense, I've noticed the PM tends to ignore all it and switch the topic back to his own ideas.
I'm a bit confused how to deal with someone like this at my point in my career (3-4 years of solid work experience). Would it be worth starting to look for other opportunities, even though I've only been here for one year? The thing is, I want to be working for a place where I am getting personal growth and new experiences as well, not stuck doing the same number crunching over and over again while being micromanaged and given absolutely zero freedom to specialize on any industry or geography. The pay is industry / Street average.
However, the work environment at the office is extremely toxic because the boss only hires "Alpha" type personalities and then finds ways to pit people against each other. For example, he will often switch up the analysts tasks - ie if I was in charge of looking at company or sector A, he would suddenly reassign this to the other analyst without warning, making you confused and often frustrated at what you did wrong. Or he would ask other analysts to secretly look at the same companies you are doing as a way to encourage undermining and sabotage amongst staff. Nobody in the office talks to one another - we only communicate with the boss. This job has been increasingly my day to day stress levels tremendously
Was wondering if any of you have seen something like this (boss who doesn't want you to grow, don't see any career progression path, but stayed for a 1 year only).
The thing is, I've had a chat with him about my longer-term career, and his feedback was basically I should be happy I have a job to begin with. There was nothing said about what my role 2-3 years down the line would look like if I stay and the fund does well. I have other friends in the industry and I just don't think this is normal because smart / motivated workers also want to progress and feel like they are getting better and contributing more, but the PM apparently wants everyone to be extremely motivated but his strategy is to micromanage them (ie, "build the model this way", "do this calculation", "ask this question", etc...) This type of management kills motivation.
I currently have another option, but it isn't at a hedge fund, but at a sell side firm. The thing is, I want to move out of this fund, but also worry that I might be doing the wrong thing by jumping to the first option that would let me get out of this fund. The situation here isn't that pleasant but not sure if it's worth anything to stay until I find a truly better option.
Any advice would be helpful. Thanks!