Strategy Consulting --> AM Questions

Humbly requesting guidance from the experienced monkeys on this forum about a career switch from Consulting to Investing.

Background:

  • Been in T2 Strategy consulting for the past two years after graduating from a semi-target undergrad b school (not Wharton but one of the programs ranked directly below)
  • Had been interested in markets / investing in college, but chose back then to not recruit for finance because I saw myself as a doer and a strategic thinker and not a spreadsheet cruncher... In hindsight, this thinking was ill-informed and just not that smart, lolzz
  • In my current role, what I enjoy most is building a thesis about how the strategies we recommend could impact FCF, EBITDA, etc. and then convincing clients that my forecast will prove right
  • Separately, I follow the markets like a junkie (have been for a number of years) and enjoy running my own money
    • I have no formal investing experience so my process is about as basic as white bread, but my instincts have been good.

Based on how the past two years have played out, I've become certain that my calling professionally is to work as a Money Mgr.

Objective:

  • Ideal role would be in buy-side investment mgmt, focused on identifying, buying, and holding long-term outperformers
  • Intention is to go to b-school, ideally at Booth or CBUS, and to make the switch from there

Questions:

  • My sense is that getting into buy-side AM may be very difficult (impossible?) given I have no investing experience. Is this true?
    • If it is, what is a good "bridge" role to pursue? Perhaps a mutual funds or the dreaded sell-side ER roles?
  • Also wondering about the difference between traditional asset managers (e.g. Wellington/Blackrock) and AM groups at bulge bracket banks (e.g. GSAM). Would one have a similar experience at both of these?
  • Should I be exploring the CFA Level I, or is my time better spent on other things?
    • If not, what other next steps can I focus on to prepare or what resources should I tap to get smart on the industry prior to b school?

Really appreciate it and look forward to hearing any thoughts

Comments (5)

 
  • Research Associate in AM - Other
Feb 9, 2021 - 11:45am

Is a mutual fund not traditional buy side AM (do you prefer HF, could try posting there)?? You can search this forum on the topic, but the consensus is that buy side divisions of banks are underwhelming compared to a typical LO. 

 
Feb 9, 2021 - 12:25pm

What consulting experience do you have that you can play up? In a specific industry, set of companies? Something? 

I agree with Franco - private equity would be a place that might work for you, given your consulting skillset it would probably help you advocate for a role in evaluating portfolio companies, working directly in them, or evaluating potential new acquisitions. 

If you are dead set on, say, being the next Cathie Wood - get moving towards some investment role somewhere. Wellington, Blackrock, AM at a bank - who cares. Start canvassing contacts within your network with a clear idea of who you are and what you are looking for. 

MBA - might help you network and recruiting wise. It's a good narrative on re-branding yourself, switching careers, etc. I would get some connections first - have some conversations and figure out whether you need to really spend that money now, or be a bit more patient and network your way to an opportunity. 

CFA... I mean, sure, I don't often prescribe masochism to people but it never hurts to have on your resume that you passed L1 or whatever. I'm not sure I'd order the books quite yet. 

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