Currently, it's no secret that active management is shrinking and places like Fidelity are laying off a lot of their staff which is why I'm wondering:
Would it be a wise decision for a college student to pursue working at an IM firm like Fidelity, Blackrock, PIMCO, Wellington or any of the other top funds? Or are the layoffs going to continue leaving only the top performers? To anyone currently working at a top firm like the ones noted above, would you recommend pursuing AM with the climate it's in today or move on to other things?
Also, is PWM shrinking as well on top of large AM funds? Are PWM places like GS, JPM, MS shrinking and/or laying off people like AM firms?