How are these firms for a first year college grad ?
Hey there guys so I am graduating in a year and I have interviews coming up for a few firms which I would like some input on. I ultimately would like to work for AM or PE or any kind of Buyside shop. The first one is Capstone Partners Financial, a company under MassMutual Insurance and Financial. I am confused whether they are trying to get me into a Wealth Management/Asset Management role in SoCal or if its just insurance salesman job. The 2nd place is First Republic Investment Management. How are these firms and any info on culture, job description, and comp would be great. Thanks.
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the first one sounds like a brokerage job, but I'd get more description on what the job entails. if they were cryptic during the recruiting process, that's not a good sign. a quick google search leads me to believe that capstone is a team within mass mutual, so you're likely interviewing to be someone's sales assistant or a junior insurance agent (which is sales, nowhere near AM or PE). the track you're taking will likely NOT lead to any buyside jobs, and worse, will likely pigeonhole you.
for what it's worth, massmutual is NOT wealth management, they mostly underwrite insurance policies and if they do have any investments, they're proprietary, require minimal analysis, or are bundled up in annuities, and you won't learn anything as far as managing assets. not that the job is without value, just that it in no way prepares you for a career in PE or "true" investment management at a mutual fund, endowment, hedge fund, etc.
sorry to be the bearer of bad news, but PWM & insurance are looked down upon by buyside and PE types. your best bet at this point is to try for a MSF and get a job in equity research (either buy or sell side) or IB, then leverage that to the buy side (easier said than done, I might add).
my best advice is to narrow down what you want. you don't necessarily need to know what kinds of firms you need to go to, but "any kind of buyside shop" leads me to believe you don't have a well thought out set of career goals. think about what in finance interests you, and then go towards that.
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