Funny you mentioned TCW seeing that the founder of the Robert Day School at CMC (which sponsors the the Masters Program) is also the founder of TCW. It's also normal to see CMC students (including masters students) as well as other Claremont College students as summer analysts. You're right about the placement though--it'll be much easier to get more entry-level type jobs but if you network and cast your net wide then you have a good chance of landing higher positions given CMC's strong alumni network.
Yeah you would figure that they have an open door to TCW, but I talked to some current students and no one landed anything with TCW yet. Might be late recruiting who knows... I spoke to someone at USC that landed a Research Analyst summer internship vs Research Associate. *reversed for equity research so Analyst > Associate*