I have been working at a large Quant hedge fund as a researcher for about 5 years. My next big target is to move into a Quant PM role. At my current shop this is basically impossible, since this is large fund with only a few PMs, who all have more than 15 years experience in the industry. Career growth for a researcher stalls after 4-5 years.
I wonder what's the best way for me to proceed. Over the last years I worked very closely with one of our PMs and could learn a lot about what this job entails. I got exposure to the full research cycle and would be able to set a strategy pod up myself at a new firm. However, I do not have a PnL stream which can be attributed directly to me and if I read job ads most roles require someone to already have several years experience trading a strategy with a certain realised sharpe.
What is the best way for me to move forward? Have some of you made the move from Quant to PM and could you tell me about your experience?
What is the interview process like for Quant PMs? Is it similar to Quant researchers, i.e. lot of technical questions and brainteasers plus question the strategies to intend yo run?
Thanks for your suggestions!