Large Buyside LO AM Shops

I am starting to network and think about potential buyside AM shops I'd like to work at out of undergrad

I have spoke/networked with people at Fidelity, T Rowe, Putnam, MFS, PIMCO, Aegon, Wellington, Acadian, State Street

What are your general impressions and industry insights from these places? Which shop would be best to start a career out of undergrad? I am interested in and prefer Equities but wouldn't mind being in Credit for a little bit to learn. From my chats I thought, Wellington, T Rowe, Acadian, and MFS were the best shops. 

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Comments (2)

  • VP in AM - Equities
Apr 4, 2021 - 8:04am

The best shop to start a career out of undergrad is whichever one gives you an offer. All of these places are extremely tough to get in to - most people in this industry who join out of undergrad apply to everywhere they can find, and take the one offer they get. If you are very lucky and get more than one offer, then your question is more valid and you can think about the trade offs between each company.

Speaking to/ networking with people means you are on the right track. Talking directly to people at these companies will give you the best insights, rather than anything you will find here. Things also change at these firms so often the information you hear from people not working there often will be out of date. 

Out of undergrad, clearly quality of the organisation is very important, but I think more important is the quality of experience you get. You also really want to join somewhere that promotes internal talent and gives you a track through the organisation.

- You want to be covering stocks as soon as possible, and at least have a path to direct coverage of stocks. If this is not possible (ie. is an associate programme with no clear path to stock coverage), I would have big reservations about the role. 

- Clear path and track through the organisation being promoted from associate to analyst, to PM (of course over time). 

- Other than that, in general firms with better investment performance and net flows are of course better places to work than the opposite.

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