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Comments (14)

Sep 18, 2021 - 1:45am

Would you say that the lower comp is worth it for the supposedly better life style? Is this a better position than banking giving that it is buy-side?

Also, would anyone happen to know what career progression is like? Are you stuck in FI AM?
 

Questions open to anyone. I'm trying to get a better sense of the role.

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  • Analyst 1 in IB - Restr
Sep 18, 2021 - 8:11am

No it's not worth it. The analyst program is only 3 years and most people don't get invited back to become associates. And asset management arms of insurance companies are on the very "sleepy" side of the buy-side. There's not a lot of risk being taken. It's not equivalent to working at Point72 or a CLO fund.

I did a lot of research into this role when I was considering it, including looking up former analysts on LinkedIn, and the exit ops from PGIM aren't good. Most people did MBAs because they probably couldn't find anything.

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  • Analyst 2 in AM - FI
Sep 18, 2021 - 11:49am

This is definitely not the case at PGIM. Sure its attached to an insurance firm but its also one of the largest managers of FI assets in the world, one of the largest managers of high yield and leveraged loans, including a top 10 CLO management platform. They also have large private credit and real estate businesses as well. This is not remotely like working at an insurance company that solely manages its own internal assets. If you are interested in FI asset management this would be a great place to start a career. Only thing I would caution you is that if you arent that interested in this business I would look elsewhere, as it could be hard to move into another part of the markets. And you would obviously make less than you would in IB, but the lifestyle very manageable. 

Sep 18, 2021 - 5:22pm

Yeah don't listen to the IB poster, they don't know what they are talking about. PGIM is a legit and well respected FI shop. Last I checked comp for new analysts is ~85K + bonus (depends on role but could be 20-35k)

Usually very flat structure with path being analyst to trader to PM. I think most analysts work for the firm 4-5 years before moving up the ladder. Turnover is very low. I work at top FI shop in Southern California and love it, great work balance and interesting work. FI investing is definitely an institutional and opaque space, so on one hand your ability to lateral to equities might be lower but you'll pretty much always be able to get a FI gig. Most of my colleagues are lifers, they love the culture, work, etc and comp scales with tenure.

Sep 19, 2021 - 7:15am

would you be in Newark or somewhere else? location means a lot when it comes to how far comp goes.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
Oct 12, 2021 - 10:06pm

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Total Avg Compensation

October 2021 Investment Banking

  • Director/MD (10) $853
  • Vice President (39) $363
  • Associates (228) $232
  • 2nd Year Analyst (137) $154
  • 3rd+ Year Analyst (30) $147
  • Intern/Summer Associate (103) $143
  • 1st Year Analyst (499) $135
  • Intern/Summer Analyst (385) $83