Hi, I am deciding between two offers with deadline tomorrow. One is BlackRock Solutions Center and the other is quant investment analyst with Prudential fixed income. I am kind of torn and not really sure what to do. When I met with people from both groups, they all seemed very nice and the atmosphere at the two firms are different but both appealing. If I'm interested in trading or investment management what would be the better choice this summer?
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without knowing much more id say the prudential offer
Solutions Center? That sounds like a help desk to me...
Prudential wins.
Here's the position description for each:
1)Prudential Investment Management (PIM) is one of the largest investment managers in the U.S. with $518 billion of assets under management. Prudential Fixed Income (PFI) is the public fixed income business within PIM. PFI has over $270 billion of assets under management which include government securities, mortgages, corporate and high yield bonds, bank loans and emerging market securities. PFI manages investments for a wide variety of clients, including public and corporate pension funds, institutional investors, retail investors and Prudential's general account.
Description: The Quantitative Investment Analyst role in PFI is a Summer Intern assignment. The intern will carry out an eight to ten week project in a department chosen from several analytically oriented areas within PFI. The project will provide the Investment Analyst with exposure to Fixed Income products and processes and the analyst will be educated in the functions of Fixed Income asset management.
Responsibilities: A project designed to build the intern's skill set in one or more of the following areas: Support/Work with Senior Investment Analysts and Managers Build and maintain fixed income and derivative models Measure, manage, and hedge portfolio risk Analyze data, build spreadsheet and other tools to identify attractive investments, manage portfolio exposures, and track returns Analyze and build models for Structured Finance assets Qualifications
Requirements and Skills: Junior year student with concentration(s) in Mathematics, Statistics, Economics or Engineering Strong quantitative skills (project experience involving data analysis a plus) Coursework indicating a breadth of interests and abilities Demonstrated skills as a team player Proficiency with MS Excel (strong computer programming skills a plus) Excellent verbal and written communications skills Ability to work independently
2)Blackrock Job Description:
After completion of a week-long intensive training program focused on the Aladdin platform and core Investment Management workflows, interns will be placed on one of the four teams; Insurance, Banks & Financial Institutions, BlackRock and Corporations, Asset Managers & Pension Funds, where they will contribute to the day to day support of our Aladdin client base. Core components of the Solutions Center Internship include: • Participate in weekly seminars on advanced Aladdin Workflows and the fundamentals of fixed income products. • Helping to create and maintain documentation on Aladdin and testing new application functionality • Assist with client inquiries. Examples might include: - Explaining how to use a specific Aladdin application - Helping to set up a new portfolio - Helping to create new compliance rules - Explaining how a specific number is calculated • All interns will give a presentation on the topic of their choice, as it relates to Aladdin and something new they learned about the Investment Management process at the end of the program
The blackrock position is in new york and pays more. Thanks for the input. and advice is appreciated
Based on your limited info from your 1st post, I would say Prudential. After scanning through your recent post, I would still say Prudential. Although Blackrock is a great name, the Prudential position will offer far more valuable analytical, modeling, etc experience, as opposed to Blackrock, which will probably leave you in a group that isn't terribly interesting, doing work that isn't terribly necessary to your future goals.
Prudential.
Congrats.
A good friend of mine works for Blackrock and the connections he has been able to make have been pretty good. Keeping in mind that Blackrock's clients aren't individuals but instead investment management firms. Their aladdin software is pretty well known, so if a future with blackrock is something you want that might be the best bet.
If you want to branch out to other places, I would suggest prudential because from the description it looks like you will gain a good deal of practical experience that isn't just specific to one company (like aladdin will be).
Prudential. No question.
prudential hands down - its operations vs an investment role. No debate needed.
Take prudential for sure. The blackrock name won't redeem BO experience. Solution centre is like the back office to the back office. 'Back office squared' if you will.
Prudential. Agree with dongeiss - it's a front office vs. back office decision and you stated your goal is to be front office.
Money should never be a part of an internship decision.
thanks for all the help. a little bump
ChuckTaylor,
would you mind sharing some of your credentials, I also applied to that position, however didn't receive an interview. just wondering what kind of background they were looking for. thanks
I stopped reading at Aladdin.
Prudential for sure
BlackRock is crap
Changed my mind. The correct answer is to hold out for Goldman Sachs!!!!!!!!!!!!!
just notified that I will have interviews in pru fixed income this week, one for a investment operations internship, and one for an internship with the quant group.
What sort of questions should I expect for the two. More fit for the operations?? and how technical should I expect the quant interview to be for an undergrad level internship??
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