hey guys! i got the offers and I'm trying to believe it's actually happening. i need your advice regarding which one i should choose, as I'm totally indifferent
i have a summer analyst offer from an elite boutique and a full-time analyst offer from a large asset management firm (one of thee largest) in a PM division, both in London. prior to that i only had 6 months of M&A experience
the pros and cons are pretty much known. EB offers a higher compensation, with more grueling hours; it offers a wider array of exit ops than AM does.
at the same time, AM has comfortable wlb, but with a lower compensation. it's important to note that i passed cfa level 1, and awaiting the results of level 2 soon (expected to pass). the striking difference would be that this is a full-time offer, so i dont have to worry about conversion
i still haven't decided where I want to be in the future. I do want to break into HF, but at the same time sticking with this firm and making it to PM does sound increasingly appealing
let me know what you think
thanks!
I mean at that point it’s really just up to you tbh. This is the investment banking forum so that’s what most of us here picked, but if youre really indifferent as you claim, might as well pick the one you already got a FT offer for and has fewer hours
What kind of asset management will you be doing? Fundamental equities? Fixed income? Something more niche?
Overall the asset management industry has heavy, long term secular headwinds, while transaction based work (IB/PE) has a somewhat rosier outlook.
For someone out of college I would say this is somewhat of a big deal, but if you are passionate about the space it would still be worth it to stick in AM.
Source: joined a large asset manager top 10 in its niche out of college, industry struggled, went to business school to switch to IB
regarding the AM role, it's in equities yes. that's what makes it so appealing. I'm still not fully sure what I'll be doing as I haven't interned there, but here's the description:
• Research and understand different sectors across equity markets, learning the key drivers and dynamics specific to each sector
• Make active investment recommendations to portfolio managers covering a specific region or sector
• Participate in meetings with senior management at various external companies
one frustrating point i have to factor in is that i do have a moderate amount of debt, so the compensation does matter.
wrt to moving across the two industries, how difficult would it be to move to AM from IB after, say, 4-5 yrs?
Likely require an MBA. IB doesn't like to hire people without transaction experience.
What was the salary progression for the years that you were in AM before you did MBA?
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