Fixed Income Portfolio Analyst Comp/Progression

Does anyone have insight into the comp/progression of a fixed income portfolio analyst (not research) at a top mutual fund (T-Rowe/Wellington). What does comp start out at as and how does it progress with years of experience.

Comments (20)

Aug 10, 2016

1st year out of undergrad 60k+30% in my group at a major asset manager ($500B+) in Chicago. 10k raise each of the first 2 years, 3rd year bonus 40%. Not sure any further than that.

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Aug 10, 2016

Thank for the reply. Do you see portfolio analysts leave to get MBA and concurrently do you hire MBAs and what title/ comp range do they come in as. I know that some asset managers almost require an MBA while others really don't care.

Dec 22, 2016
DBW521:

1st year out of undergrad 60k+30% in my group at a major asset manager ($500B+) in Chicago. 10k raise each of the first 2 years, 3rd year bonus 40%. Not sure any further than that.

Reviving a somewhat older thread...so portfolio analysts, a middle office role, gets 30% bonus at your firm?

Dec 22, 2016

I can only speak to my group within the firm, but yes. I earned 30% 1st year (partial year), 35% 2nd year, 40% 3rd year. I can't confirm, but I think in normal years 40% is the cap for this role. It can go higher in exceptional years, but I'm not sure how high.

Mar 9, 2017

1st yr out of undergrad in Milwaukee was 60k + 20% (30% max). 2nd yr was 2% higher (Inflation raise) and Target of 26% (40% max). 3rd Yr received 5k raise and Bonus stayed at 26% (40% max).

Aug 10, 2016

For us, portfolio analysts are actually more of a middle office function so you're either a portfolio analyst for life or, if given the opportunity, you jump to the front office as a research analyst. The ideal route here, if you don't start off as a research analyst (we have only hired three research analysts out of undergrad in the last decade) is; Portfolio analyst for 2-3 years, research analyst for 3 years, Sr. research analyst for 3 years, Jr Pm 5-7 years, PM... MBA isn't really necessary here and we certainly don't see portfolio analysts leave for their MBAs. MBAs also don't get any sort of salary bump versus non-MBA's here. Our pay is heavily tied to performance... MBA/CFA isn't take into consideration, to my knowledge.

Aug 11, 2016

Is this sort of analyst structure of portfolio vs research common or sort of unique to your firm? I've yet to hear of any distinction from what I've read.

Mar 9, 2017

Portfolio Analyst in Milwaukee here. I would second this that PA is middle office role that you either stay in long term or get bumped over to Research / Trader / Investment specialist.

Mar 9, 2017

Do portfolio analysts go to good MBA programs, and try to break into AM that way? At least, is that a viable option?

Mar 9, 2017

From my understanding, Portfolio analyst is much more common out of Undergrad as the MBAs want the research jobs. That said, I'm sure that's a viable route, but if going MBA Route, you'd be much more financially inclined to try hop straight into research if possible.

Aug 11, 2016

No idea unfortunately...

Jan 4, 2017

To revive this - we're actually hiring someone for my team right now. The job was just posted yesterday. If you're in the Chicagoland area, and are interested, PM me.

Aug 8, 2017

I work at a rating agency and I am interested in making the jump into fixed income research. Would I have a strong chance given my background at a rating agency? And, what does the day-to-day look like?

Aug 9, 2017

You'd definitely have a shot - we have two people (out of 28ish) on our team that came from ratings agencies.

Day-to-Day in Chicago is 7:30-5:30ish generally, get in, check the news on the markets, your industry, your coverage companies... continue working on any new deals (modeling/valuation, research), update financials and investment premises for existing coverage companies, work on special projects... the days all vary depending on deal flow.

Aug 14, 2017

It seems like this is the route I want to go. I started at a rating agency a couple of months ago straight out of undergrad. In the meantime, I am going to gain some more experience at the rating agency, but any advice for the future on how to make the transition (books/materials to read, networking, etc.)? Thank you - your insight is much appreciated.

Aug 14, 2017

A Pragmatist's Guide to Leveraged Finance is a good book about credit research on bonds and bank debt. The best thing you can do though is network as much as possible. It's invaluable. Find people on LinkedIn at companies you might want to work at, and try to obtain their contact info and get on a call/grab a drink with them. Never leave a conversation without getting connected with someone else in their network, and don't waste their time. Be prepared. That's what's going to help you the most.

Aug 14, 2017

Your starting salary has no indication of your future earnings. Worry about the job now, money later.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."

Aug 14, 2017

What is your background

Don't listen to anyone, everybody is scared.

Aug 14, 2017

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