Jefferies HY research

Should I go for it if my end goal is research/PM role at a bigger firm (pimco, Wellington etc)???

A

Comments (12)

  • Intern in ER
Jan 2, 2022 - 6:17am

These are like INSANELY difficult to get into, if not totally impossible here in London. I'm from a semi target also. Like, just no chance

Interestingly enough, I didn't know PIMCO hired for research roles from undergrad. I know they have roles for account management, portfolio analysis and a few products strategy spots, and recently CRE in London.

  • Analyst 1 in HF - Other
Jan 2, 2022 - 8:00pm

Yes, I agree these are only a handful of spots for the creme of the crop. To your note about PIMCO, I thought so too but it seems like they're trying harder to develop a more structured path from analyst to PM directly to compete with other LOs and AMs. I remember back in b-school when the conference rooms would be packed because they'd only take 3-5 kids with 1-2 investment spots. See below for a recent posting for their alternative credit investing group. Best of luck!

PIMCO Alt Credit SA

  • Intern in ER
Jan 2, 2022 - 8:20pm

Ahh, thanks for the input!

I know of their expansion in alts. In London they opened the spot for CRE analyst positions, but again I had no idea they promote from analyst to PM.

Anyways I'm not really trapped. I had this opportunity with Jefferies but ultimately I think I'll decline and attend a MSc in Finance next year instead. I missed PIMCO's application this year, will do my best next one. For the CRE analyst position they explicitly state they prefer experience in RE. I had experience in RE valuation so hopefully that does help.

Just a question though. Which one would be better - this or the product strategy role?

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  • Analyst 1 in HF - Other
Jan 2, 2022 - 10:00pm

The alt credit roles are investment research roles so would definitely take over product strategy. Good choice, MSc in Finance can take you a long way. Best of luck bud.

Jan 4, 2022 - 7:26am

Does T Rowe even offer junior credit roles in London? From what i've seen they only offer Junior roles in Equities. I know someone who interned at Wellington, apparently they only take like 1-3 people every couple of years and they very much favour people with PhD's. I'd say expand your horizon as if you're only targeting these 4 shops then you'll likely be in for a rude awakening come recruiting time, honestly.

Jan 2, 2022 - 2:25pm

They run a desk analyst model, so the research is less like what you would see at a LO and more short term/tactical stuff vs. deep fundamental research. I think their stuff is okay depending on the analysy but they definitely spend a decent amount of time trying to push risky ideas, alot of which they originally underwrote as far as I can tell. I think they only have one junior so you'd probably get pretty good exposure, certainly a decent place to start if you want to be in credit.

Jan 3, 2022 - 9:25am

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