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Asset Management

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Intern
Intern
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Joined: 28 Jun 2011
Posts: 42
Concentration: Finance, General Management
GMAT 1: 690 Q44 V41
GPA: 3.76
WE: Corporate Finance (Energy and Utilities)
Followers: 3

Kudos [?]: 17 [0], given: 2

Asset Management [#permalink] New post 29 Jul 2011, 20:27
I'm interested in pursuing an job in asset management after I get my MBA. I'm wondering how hard it is to land a top asset management position with no previous related work experience...I have worked 4.5 years in F500 Corporate Finance. I assume landing an internship in this field would be very helpful for eventually getting a full time offer.

Also, what are the hours/travel like in these positions? What is the typical career progression/pay? From someone knowledgeable about the business, details on what they do in an average week would be extremely helpful.
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Joined: 11 Dec 2006
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Location: New York, NY
Schools: NYU Stern 2009
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Re: Asset Management [#permalink] New post 02 Aug 2011, 17:50
Landing a job straight into Asset Management, at least in the parts you probably want to be in, is tough. Not impossible, but tough. To begin with hours will be pretty rough (not too dissimilar to a sell side analyst), though there will be a fair few chances to go out to meetings, some conferences and stuff like that. Buyside pay is normally lower than sell-side, but has way better incentives involved to make it a better place to be in enough peoples minds.

You spend a lot of time looking at sectors or individual firms and putting a lot of thought into whether you should buy them, and if you already have them, whether you should sell them. Obviously, it becomes a lot more complicated than that, but that is generally your life - it just takes a fair amount of time to learn up to that point. That of course is fundamentals, you could become a quant and spend your life building a machine that does all that for you.

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1 KUDOS received
Intern
Intern
User avatar
Joined: 28 Jun 2011
Posts: 42
Concentration: Finance, General Management
GMAT 1: 690 Q44 V41
GPA: 3.76
WE: Corporate Finance (Energy and Utilities)
Followers: 3

Kudos [?]: 17 [1] , given: 2

Re: Asset Management [#permalink] New post 03 Aug 2011, 08:18
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Thanks for the response.

Would the most logical route be to to try to land an equity research job initially and then work my way to a portfolio manager? I understand often times analysts put in 2-3 years on the sell side and then try to migrate over to investment management...From the perspective of someone with little or no experience in the investment business what would be the typical route (internship and post-MBA).
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Re: Asset Management [#permalink] New post 03 Aug 2011, 08:25
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Going to the sell side first might be an easier step for you. With all due respect, you won't be very productive as a buyside analyst given that you have no experience in the investment industry. Also, buyside recruiting is quite intense.

On the other hand, do apply for buyside analyst jobs...maybe you'll get lucky!
Re: Asset Management   [#permalink] 03 Aug 2011, 08:25
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