Good/Bads of Entry-level Mutual Fund Jobs
Hi, Top 25 college graduate this may. Missed all the IB opportunities and am only having luck with a few mutual funds. There doesn't seem to be a whole lot of talk about starting careers in an MF on this forum. Is there any benefits/downsides to it? Long term would hope to do emerging markets portfolio mgt.
Also the pay generally seems lower that IBs, is that true?
Say I go to b-school afterwards, is my time at an MF as respectable as a bank?
Also, any thoughts on a 2 year rotation at an MF with exposure to trading, PM, sales, research etc...?
thanks
What mutual funds are you looking at? and which funds are you focusing on?
There has been several recent posts on this issue, trying searching for "asset management" or "am".
But to sum it up: - Less hours than banking - Pay depends, could be less than or equal to banking - There are fewer AM positions than banking positions available
If you want to be a portfolio manager than join a mutual fund. The rotation program sounds like it would give you exposure to several aspects of fund operation and would put you on the path to becoming PM. There are too many bankers applying to b-schools, you might actually have a leg up coming from a different finance background.
If you like investing you will LOVE working at a mutual fund, it is pretty much a dream job. I've worked at a couple of hedge funds and being on the buyside is the greatest job on earth in my opinion. Seriously.
Thanks, the two funds are Vanguard (non rotation) and Franklin Templeton (rotation).
Good to know.
Limited sample, but here's what i know:
Knew a girl who did Vanguard- she wasn't that bright.
Knew a guy who did Franklin Templeton- loved it, went back to Columbia MBA (focusing on Value Investing) so he could get portfolio manager jobs.
I was under the impression mutual funds didnt hire much out of undergrad. What kind of jobs are we talking about? Research or others?
One is a form of advanced Fund Accounting...pricing the NAV, corprate actions etc... leading to the portfolio mgt side in a year or 2. The next is a 2 year rotation program where you get exposure to research, trading, portfolio mgt, sales, marketing, ops...rotate every 4 months for 2 years, then land a full time with one of the groups you rotate with.
I've seen a fair bit of interest from the MFs and not the IBs.
So are you really saying that out of undergrad MFs are a better bet than IBs, growth wise?
bump
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