PGIM Fixed Income research role
Hi All,
Was wondering if anyone has any insight into PGIM Fixed Income. They cover investment grade, high yield and collateralised loans and the position I am interviewing for is a research analyst in London in one of the three above roles.
Recruiter said the following:
- They're a top 7 FI asset manager
- Large AUM ($800bn)
- They sponsor CFA
- Role will be one with significant responsibility for proposing investment opportunities and challenging ideas
- Permanent position with a view for a long term career there.
Any insight into: - Culture - Research quality - Long term career prospects - Salary progression
Would be appreciated.
Thanks,
IS.
Solid shop. This information is based on the Newark office but both credit offices are head by the same person who flies between the two, and both offices participate in a meeting together every morning.
Culture is good, actually nice people who want to help young people improve and learn. Teams of two primarily so you do get a lot of exposure. But almost no diversity in the credit group.
Research quality is up there. They are a pretty well-regarded shop and have a strong investment analysis procedure. Their tech seems outdated, but you will definitely learn strong fundamental credit analysis.
Long term career prospects look solid. A lot of people leave at around 3 years (length of the Analyst program) and move to other buyside credit shops (hedge funds, CLO managers, etc.). From what I have seen, no one seems to have too much of an issue there.
Overall if you're interested in credit investments as a career, it is a great place to start. I would recommend HY or Loans team though.
Thanks for the response. My interest was in HY or CL's actually so thanks for the info about exit opps.
I have a summer offer for Perella Weinberg in London. My situation is such that I am keen on a masters but if the right opportunity presented itself I would join a grad programme. Currently waiting on decisions from D.E. Shaw Fundamental Research internship in London and a Man Group summer internship. Obviously if D.E. Shaw comes back positive I will jump at it but how would an offer from PGIM credit stack up to Man Group AHL/GLG or T. Rowe Equity research?
In the credit arena, who would you place above PGIM?
Thanks again for your help!
What is your background? Seems like you have some really good opportunities
In terms of credit shops, there's the elite tier, which from my understanding are names like THC, Oaktree, GSO, CSAM, Wellington, Octagon, WAMCO, PIMCO, Carlyle. I see PGIM as just under that.
I think your AUM number is low. I think PGIM is closer to $2T globally.
PGIM Fixed Income manages ~800bn.
You seem to have a good knowledge of PGIM. May I ask how you would view the comparison between PGIM and Man Group GLG and also say Perella Weinberg/PJT vs PGIM fixed income. From the persective of a gradate looking to maximise long term earning potential and also maximise investment expertise?
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