PFM Group

I saw a couple posts about The PFM Group using the search function, but was wondering if anybody had any additional information about culture, hours, pay, etc.? I'm particularly interested in the NYC office as I recently applied for an opening there. Any information would be greatly appreciated.

 

Experienced PFMer here. Culture and hours vary wildly based on office, and business unit. The PFM Group umbrella consists of three branches: Public Financial Management Inc, the financial advisory (FA) practice, Public Financial Management Asset Management, the assest management (AM) practice, and a tiny Philadelphia based unit that advises on swaps. The company as a whole is very top heavy, and decentralized. Each office operates as its own little kingdom, with Managing Directors ruling as autocratic kings.

The New York office includes both FA and AM personnel, but mostly FA. FA hours are worse than AM hours. I can tell you that FA hours fluctuate based upon whatever deals you are advising on. I know turnover in the NYC office is high so you'll be on your own to figure a lot out. Normal week for new analyst may be 50-60 hours. Deal intensive week could be 70-80. Starting pay for a new NYC analyst I think would be about 55-60k plus another $5k in signing and year end bonuses combined.

 

Public finance is technically investment banking by definition, it's the process of raising capital for municipalities etc. It's more related than PWM or all the other stuff everyone stocks the early years of their resume with.

I am permanently behind on PMs, it's not personal.
 

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