Comments (9)

 
 
  • Analyst 1 in AM - Equities
Dec 28, 2020 - 4:22pm

Been working at one of the biggest investment consulting/OCIO firms for the last 3yrs. Happy to answer any questions here or PM. In my experience, the majority of exits are to M7 MBA. Seems like the top MBAs really value the experience working with institutional investors. Otherwise, common exits include PE FoFs or into specific asset classes (# people exiting to VC increasing...)

It's interesting work, albeit slower pace than more "traditional" finance roles

 

 
Dec 28, 2020 - 5:51pm

Can you describe what an investment analyst would be doing at a OCIO and the career progression and comp for analyst and higher? Interested in knowing where you work as well if you don't mind me asking?

 
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  • Analyst 1 in AM - Equities
Dec 28, 2020 - 6:21pm

Not going to give specific name, but think SSGA/Mercer/Aon/Meketa - more big names are starting to move into the space as well. Blackrock, JPM, and GS all expanding their OCIO teams.

The work can vary quite a bit depending on the profile of the client, but the main responsibilities = performing due diligence on top-tier managers for every asset class of the portfolio. I.e. finding long-only managers for Equities, Fixed Income, and Private Investments (PE, VC, Priv Credit, etc.). My firm has investment teams and we can use our own products, which usually fills up some Equity/Fixed income buckets. Most of my time is spent looking for new ideas for the portfolio and creating investment memos (basically ER research reports on managers instead of securities). This is the big difference here - OCIO invests in managers not individual securities

Comp is on the lower end of the scale. My offer out of college was $70k with low annual bonus. I will note though, the exposure is awesome. You get to have meetings with some pretty big name investors and the people you work with are bright. Work/life balance is very real. In my first year I worked ~55-60 hours/week on average, mid 40's during quiet times, and 65-70 during crazy times (rare) and rarely worked a weekend.

 
  • Analyst 1 in AM - Other
Jan 4, 2021 - 4:54am

Any advice on which group would be best for exit opps? Which asset class in particular would give the best skills? If I am interested in ending up in HF/MF/ER eventually, which group is best to start in at an OCIO?

 
  • Analyst 1 in AM - Equities
Jan 4, 2021 - 3:24pm

IMO, private asset classes are the most interesting to work with. Can't go wrong with a PE/VC focus. You get to take a deep dive into the portfolio and strategy of different investors. Although worth noting - Private Credit has seen a tremendous increase in interest from institutional investors, and $ PC funds raised in 2020 absolutely supports it. Different firms have different systems for group placement too so keep that in mind

You most likely will not be able to make a direct jump from OCIO > HF/MF/ER. Skillset is not transferrable and it's pretty competitive. OCIO > IB is difficult, albeit doable, and from there you can make the jump. Otherwise, your best bet is to stay on for a couple of years and get a top MBA (like I mentioned in a previous comment, OCIO to M7 MBA is common)

Happy to give more advice here but need more info on your background. Are you a college senior w/ an OCIO offer and an end goal of making it into ER?

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