Entry Level Asset Management Positions

AMcareer's picture
Rank: Chimp | 5

I have experience as an administrative assistant in finance, but am looking to further my career in Asset Management. I have a bachelors degree in Political Science. What roles should I be looking for within Asset Management? Would I be considered for a Client Service Associate position? What are some other entry level roles I could be qualified for.

Comments (33)

Oct 8, 2013

If you do anything "client services" make sure you'll get licensed, otherwise there's no intention of you progressing to anything else...

    • 1
Oct 8, 2013

essentially most roles will be available. it may be less typical to find research analyst or trading roles, but those too are possible so long as you show your interest. just don't expect to hop in as a PM.

Oct 8, 2013

they will do more of a marketing or market risk type of role..
then there are those who executes the trades, update reports, a lil bit of modelling etc

its hard for someone to start as a junior asset mgr, most of these juniors are of MBA background (or junior traders or researchers..)

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Oct 8, 2013

The most likely transition over from non-AM to AM is from the sell-side on over, and not to discourage you, but even then the switch isn't all that common. Asked a few VPs and MDs on both sides about this and the consensus generally was that most people in AM started out in AM, and if you cross on over from the sell-side it would generally happen right at the expiration at the analyst level into the associate level.

Other fields have an even spottier record than the sell-side, and outside of the occasional quant it's really hard to justify why you would be good at buying shit, selling shit, and managing risk intelligently from a non-finance industry. Of course, the more client-facing functions in AM draw from other fields more liberally, but the actual investing ones are dicier. The oddest resume I saw on the investing side was a VP with a Masters in Chemistry from a very reputable university.

Oct 8, 2013

Thank you for the insight acljnle0, were you able to land an AM position?

Oct 8, 2013

yes as an analyst

Oct 8, 2013

Any tips different from recruiting for IB or other fields? Besides the usual good grades + networking etc...

Oct 8, 2013

not really gl

Oct 8, 2013

People move from sell-side to buy-side and vice-versa all the time. And I'm not talking about mid-career moves, I'm talking about people who switch jobs from one year to another. There is not much friction between the two. You'd have more difficulty moving into institutional asset management from a retail position than from an institutional sell-side position.

Oct 8, 2013

Hi acljnle0, I am gonna start as AM summer analyst in CS this summer, what do you think i should prepare myself for? 'cause i know as summer analyst and entry level, we do a lot of office work, but is there something i can do in order to learn faster in AM? any tips? thanks a lot

Oct 8, 2013

Read up as much as you can on the markets, and maybe take a few Excel and modelling classes.

Oct 8, 2013

Go to the best school with the best recruiting. LA vs. San Fran vs. Chicago doesn't really matter. Not so sure about St. Louis though.

Oct 8, 2013

Midwest = Chicago

West Coast = San Fran. > LA

MKballer

Oct 8, 2013

The west coast has CapRe and PIMCO whereas there aren't any huge players that I know of in the Midwest. Then again basing your decision on being near two big shops is silly. Boston is the only city that legitimately offers advantages for those in AM.

Oct 8, 2013

much more important is finding alumni/contacts at good shops that will help you get an interview if you want to break into AM out of undergrad versus pure location. (my personal experience anyways)

Oct 8, 2013

Is this MBA? AM is big in Boston too - Fidelity, State Street, Babson, etc.

Oct 8, 2013

...Wellington, GMO, MFS... the list just goes on and on.

Oct 8, 2013

This is not for an MBA, this is for a MSF. I know that Boston College has a MSF, but it seemed like an inferior program to Washington University in St. Louis and Claremont McKenna College. But do you guys think that being in Boston is a bigger advantage than going to a more selective and prestigious program?

Oct 8, 2013

You might want to ask ANT but I don't think there's much of a gap between BC and WUSTL/Claremont. IMO BC is a better bet.

Oct 8, 2013

Where do you want to live - West Coast or Midwest? Start with that question.

In my Top 100 list (link below) I count 18 firms in CA. Defining "Midwest" is a little more difficult, but I show 7 in IL with a scattering of fims across the area in MN, WI, MO, and MI. If you looking broadly at the Midwest, then the opportunity sets appears similar between CA and the Midwest.

The Northeast obviously has the most number of AM firms, though.

http://www.lifeonthebuyside.com/the-top-100/

Oct 8, 2013

Who threw monkey shit at my post? Please try to add value by commenting and keep WSO the robust resource that it is.

In compiling the top 100 I noticed two big takeaways:

  1. AM firms are way more geographically diverse than I initially thought, and
  2. HFs are way more NYC centric than I thought.

If you want to go into HFs, focus on NYC. If you want to go into AM, your geographic options are much broader.

Oct 8, 2013

SBd your second post to balance it out. I just thought your plugging your $94 database was a little on the shameless side when stuff like this is out there: http://www.iimagazinerankings.com/rankingsMoMaRank...

Oct 8, 2013
GoodBread:

SBd your second post to balance it out. I just thought your plugging your $94 database was a little on the shameless side when stuff like this is out there: http://www.iimagazinerankings.com/rankingsMoMaRank...

I probably worded my first post poorly. I didn't mean for it to be a pure plug.

FYI - That II ranking list costs $349 to get in Excel format for a one-time download.

http://www.institutionalinvestor.com/DataStore/DSs...

Oct 8, 2013

If you are interested in hedge funds also, this site has regional and metro-area breakdowns
http://www.hedgetracker.com/top_hedge_funds_region...

Oct 8, 2013

Hmm, I think you used to be able to access the whole thing for free (not download it though).

Oct 8, 2013

You can see it, you just can't download it.

Oct 8, 2013

For AM,the main cities are San Fransisco and Boston,so if you dont want to go to NE,choose the first one.
About Boston College,I applied there because I thought I would place well in AM in Boston.However from my conversations with the career office and current students I understood this was not the case.BC places mostly in corporate finance.

Oct 8, 2013
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