Prudential Fixed Income
I have a final round interview with the fixed income group that looks rotational (through trading, risk management, etc), and I am wondering if anyone knows about exit ops, salary, etc for this position. Thanks.
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i dont....curious though is this FT or SA? specifying that may help someone else answer for you
I am not familiar with their rotational program, but their fixed income investment groups are strong. They have a good reputation in the private FI space. If you are just starting out comp is likely 80k-ish and exit ops are bschool or PE. People from these groups place well into both MBA programs and PE firms due to the transactional nature of some of the groups. If you are doing trading and risk management, obviously this changes things.
Any updates? Interested in this position and group for the future so any feedback would be great
From AM to PE? Unlikely ... more likely to go to other mutual funds or hedge funds or distressed or leveraged finance sell side
Hey, thanks for the replies so far. It is for a full time position, and going back for a final interview. Also wondering if anyone else knows anything about starting salary and exit ops.
Thanks in advance
Yes, I heard back yesterday regarding the final rounds for the position.
Prudential superday--Fixed Income Credit Research (Originally Posted: 09/19/2014)
Hey guys, I have a superday with Prudential in their Fixed Income Credit Research division next week. Has anyone been through their interview process? I can't seem to find anything on their Credit Research area in the past threads.
In my 1st round, I got asked a bunch of technicals about credit metrics for companies in different industries, what I would look for when investing in stocks vs. bonds, and some questions on the financial statements. I don't have any valuation or modeling background either, but the interviewer seemed to understand this.
Based on my 1st round, I'm under the impression I'll get asked some technicals but I'm not sure. Are there any types of concepts or theories about Credit Research I should be very familiar with before I go there next week?
Thanks in advance.
what did you say for the credit metrics answer?
credit research usually works like this: company a is similar to company b fundamentally, and the market isn't reflecting that, lets buy one.
you may be interested in learning about covenants and other structures, yield curves, credit spreads, Free cash flow vs. ebitda and how to adjust them, why capital structure is important, hidden debt (leases, pensions), incorporating illiqudity risk
Prudential Investment Management - Fixed Income (Originally Posted: 09/22/2013)
Hello,
I was wondering if someone could shed some light on Prudential Investment Management and the activities that go on in their Fixed Income department.
-For those who have worked/interned here, did you do worthwhile work or the stereotypical stapling and filing?
-Do interns get to work in the actual investment management roles or mostly in the sales and marketing roles of fixed income?
-How difficult is it in landing an internship there?
Thanks
Help?
PRU Fixed Income recruiting (Originally Posted: 08/30/2012)
Hey guys, does anyone have any experience interviewing with Prudential Investment Management specifically for an investment analyst role in their credit research? This is for an entry level position...can find a lot on PRU and Prudential Capital Group but not much on the credit analyst interview process. Any help is greatly appreciated.
bump bump...anything???
Expect to interview with four analysts: the Head of CR, the Head of the group the position is in (HY/HG/EM), and 2 senior analysts. The Head of the group will ask you about duration, eg. which bond would you prefer to own, a 30 yr TSY or a 10 yr BBB corporate. The senior analysts will as you things more along the line of "so 2 companies we cover announce plans over the weekend that they're going to merge. You're first in Monday morning. What info would you gather for me to help make an investment decision?" They'll also talk to you about financials eg. why FCX has a better S&P rating than General Mills, even though General Mills is in a more stable industry. At least that's what I got.
Thanks man. I am assuming this was for a second round/superday type of interview???
Also did you use any useful interview prep??? Haven't had a formal fixed income class and can't find a guide specifically for FI. Thanks
Nope this was all first round stuff. I had just sat for the CFA Level I so I used my materials from that.
anyone else interview for this position ???
these guys underwrite private loans, sometimes internationally. expect a lot of behavioral questions in the first round, and possibly to pitch a company. remember to pitch the bonds, not equity. they likely will not expect you to be a fixed income pro, but you should know how fixed income investing is different than equity investing and what risks are important to most industries and companies. it's a good position with good exit opps, but more competitive as well. if you get to the second round, expect to see a lot of the questions that PD outlined above. if you can nail the rationale behind answering those questions, you will do okay!
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