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Yup... only PE!
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yb wrote:
Yup... only PE!


well good luck...very few people can make the cut ..as what one brings to the PE is more important than a HBS or Stanford MBA
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Anyone know anything about PIMCO?

https://www2.pimco.com/MBA/

Their jobs, frankly, sound pretty damn interesting.
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gmatclb wrote:

The original statement was, "IB is the only industry where you can make 300K+/year."

Sure MC and CF you don't need any skill. Same thing with working at Taco Bell. But you aren't making 300K/year.

I'm not condeming IB because they pay much better than other industries. I'm saying that IB is (probably) the only industry where you can make that much without specialized skill (like a doctor or physicist).... therefore it is a commodity. Do banks have trouble hiring assocaiates?


Okay, I am very interested in this conversation now. Let's "pretend" that I have no skills. (because I don't actually have any finance skills) I don't necessarily need 300K/year but something respectable. So you guys are confirming that IB is a good option for me, assuming that I'm willing to trade my social life/family life/hobbies for a big chunk of money. And IM, equities research are alternatives that pay a little less but more reasonable hours.

Anything else I should consider? (lets call these the "fresh start" options, for career changers with no previous exp)
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rhyme wrote:
Anyone know anything about PIMCO?

https://www2.pimco.com/MBA/

Their jobs, frankly, sound pretty **** interesting.


I believe PIMCO is a 100% fixed income, probaly a great place to work if you're interested in credit and debt, but not equities.
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I don't think the big firms are the best places to work for IM.

Best place would be a middle player. Good upside but established. Capital under management ~50 billion would be good.

Unlike the IBs and MCs who get the best deals and biggest clients, IM is the same no matter how much money you manage. (assuming the firm is not small)
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gmatclb wrote:
I don't think the big firms are the best places to work for IM.

Best place would be a middle player. Good upside but established. Capital under management ~50 billion would be good.

Unlike the IBs and MCs who get the best deals and biggest clients, IM is the same no matter how much money you manage. (assuming the firm is not small)


Not really, usually at least a portion of your bonus is tied to AUM and/or yearly profits. Also, pay is much better with the large IM firms than with small/regional firms.
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fluffydot wrote:

Okay, I am very interested in this conversation now. Let's "pretend" that I have no skills. (because I don't actually have any finance skills) I don't necessarily need 300K/year but something respectable. So you guys are confirming that IB is a good option for me, assuming that I'm willing to trade my social life/family life/hobbies for a big chunk of money. And IM, equities research are alternatives that pay a little less but more reasonable hours.

Anything else I should consider? (lets call these the "fresh start" options, for career changers with no previous exp)


I believe that IB and MC are generally considered friendly towards career changers. Reading between the lines, I believe this means "no experience necessary". While that's probably not entirely true, I expect you can learn what you need to know during business school and internship.
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pelihu wrote:

I believe that IB and MC are generally considered friendly towards career changers. Reading between the lines, I believe this means "no experience necessary". While that's probably not entirely true, I expect you can learn what you need to know during business school and internship.


Well, for MC you may not be experienced in MC itself, but you will bring to the table your experience with some industry(ies) or disciplines.

L.
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PIMCO is a great place to work, especially the headquarters being in Newport Beach,the best place of the country to live in. I have a friend who works there, got a job right out of Princeton undergrad. My brother who has a Wharton undergrad degree, works as an equity analyst at a boutique firm. For him, a CFA is more important than a MBA since he is already in the industry. At 24 years of age, he makes over $100K. Almost all his colleagues are MBAs from top schools (M7 mostly) who leveraged their degree to change career path. Not having a MBA will not impede his career since it is almost exclusively performance driven.
Being an equity analyst provides you with skills that are needed everywhere, buyside, PE, hedge fund, portfolio management.
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cbreeze wrote:
PIMCO is a great place to work, especially the headquarters being in Newport Beach,the best place of the country to live in. I have a friend who works there, got a job right out of Princeton undergrad. My brother who has a Wharton undergrad degree, works as an equity analyst at a boutique firm. For him, a CFA is more important than a MBA since he is already in the industry. At 24 years of age, he makes over $100K. Almost all his colleagues are MBAs from top schools (M7 mostly) who leveraged their degree to change career path. Not having a MBA will not impede his career since it is almost exclusively performance driven.
Being an equity analyst provides you with skills that are needed everywhere, buyside, PE, hedge fund, portfolio management.


So if I have a way to pretty much lock in an internship at PIMCO, it wouldnt be a bad idea?
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Take it and you can see if fixed income securities is something you want to get involved in. PIMCO is really the undisputed king of bond funds.
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A UCLA Anderson guy started PIMCO.

cbreeze wrote:
Take it and you can see if fixed income securities is something you want to get involved in. PIMCO is really the undisputed king of bond funds.
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rhyme wrote:
So if I have a way to pretty much lock in an internship at PIMCO, it wouldnt be a bad idea?


NO NO NO NO! I don't know PIMCO, but why choose jobs b/4 B-school? I'm sure going through the process and talking to others abour recruiting 24x7 will help you really understand what you want to do. And you would not want to be locked, then (neither would you want to jeopardize the opportunity of a job you might like, either).
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lepium wrote:
rhyme wrote:
So if I have a way to pretty much lock in an internship at PIMCO, it wouldnt be a bad idea?


NO NO NO NO! I don't know PIMCO, but why choose jobs b/4 B-school? I'm sure going through the process and talking to others abour recruiting 24x7 will help you really understand what you want to do. And you would not want to be locked, then (neither would you want to jeopardize the opportunity of a job you might like, either).


I'm not suggesting locking it in now, im just saying, if I can lock it in and put it in my back pocket - that is "Hey, it me, yea, i need that internship" - its worth doing.
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rhyme wrote:
lepium wrote:
rhyme wrote:
So if I have a way to pretty much lock in an internship at PIMCO, it wouldnt be a bad idea?


NO NO NO NO! I don't know PIMCO, but why choose jobs b/4 B-school? I'm sure going through the process and talking to others abour recruiting 24x7 will help you really understand what you want to do. And you would not want to be locked, then (neither would you want to jeopardize the opportunity of a job you might like, either).


I'm not suggesting locking it in now, im just saying, if I can lock it in and put it in my back pocket - that is "Hey, it me, yea, i need that internship" - its worth doing.


Then go ahead. If there's no cost for you I would even lock a job at McDonald's.
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While I don't yet know what I want to do (I have no interest in and am too old for IB), I know what I don't want to do. And that is more of the same thing I'm doing now :D

I will be looking at industry. Making 300K isn't the top of my priority.
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