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Asset management questions...

Hi, I've recently become interested in asset management. I'm interested more in fixed income, but I have a few queries:
1) What are the hours like generally for a firm like fidelity or JPMAM? 8/ it the same as trading or sales? Is there a difference between AM divisions in banks and AM houses like fidelity or Schroders?
2) Any idea on compensation at the analyst, associate levels for a firm like fidelity? Is there any way for me to find out?
3) What is the future like for this industry? I've heard bad things about banking and the rise of algorithmic trading systems but is this also happening to asset management?
4) Any tips on how to stand out at networking events, if I get into any?

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Original post by BigTraderBoi
Hi, I've recently become interested in asset management. I'm interested more in fixed income, but I have a few queries:
1) What are the hours like generally for a firm like fidelity or JPMAM? 8/ it the same as trading or sales? Is there a difference between AM divisions in banks and AM houses like fidelity or Schroders?
2) Any idea on compensation at the analyst, associate levels for a firm like fidelity? Is there any way for me to find out?
3) What is the future like for this industry? I've heard bad things about banking and the rise of algorithmic trading systems but is this also happening to asset management?
4) Any tips on how to stand out at networking events, if I get into any?


on networking, look at mergers & inquisitions website, some good advice there
Original post by BigTraderBoi
Hi, I've recently become interested in asset management. I'm interested more in fixed income, but I have a few queries:
1) What are the hours like generally for a firm like fidelity or JPMAM? 8/ it the same as trading or sales? Is there a difference between AM divisions in banks and AM houses like fidelity or Schroders?
2) Any idea on compensation at the analyst, associate levels for a firm like fidelity? Is there any way for me to find out?
3) What is the future like for this industry? I've heard bad things about banking and the rise of algorithmic trading systems but is this also happening to asset management?
4) Any tips on how to stand out at networking events, if I get into any?


1) usual range is 60-80 hours a week, so roughly similar to S&T. AM houses tend to have a bit more flexibility with what they can do vs banks, but the difference isn't that huge.

2) from a convo I had with a guy in AM at Fidelity:
ER*associate - £35k-40k base + £5k-10k*bonus
Senior associate - £60-70k + £20-30k
Junior analyst - £90-100k + £20-50k
Senior analyst/head of research - £100-150k + £50-150k
PM - £125-175k + bonus that is entirely dependent on fund performance

Some PMs are certainly in the high six to seven figures.

3) there's always going to be a need for fund managers but there is a bit of pressure from electronic asset managers

4) take an interest and be yourself




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Reply 3
Avatar for Trapz99
Trapz99
21
1) Average is 60 hours a week. You don't work weekends except in special circumstances.
2) Don't know but Princepieman knows this sort of stuff well so I'd trust his figures.
3) Yes, it's being taken over slowly by robo-advisors like which use algorithms to invest according to the client's specific risk appetite. However, I'd say it's still safer than S&T in terms of job security. There's also demand for quantitative research analysts at AMs like fidelity.
4) Show an interest in financial markets, do extracurriculars, join finance soc at uni. Show that you're an interesting person and not a finance clone.

Apparently at fidelity, they let you do a rotation at one of their offices in Hong Kong and Tokyo, which seems really cool.
(edited 7 years ago)
Basically like hedge fund but more boring and less pay.
1) 70-90 hours, 100 hour weeks rare.
2) What prince said
3) future is gloomy, pay has been stagnant for a bit
4) ba persoanble, outgoing, interesting, AM is more relationship-focused and in order to build solid relationships you need to show people that you can be interesting and outgoing,
Original post by gr8wizard10
on networking, look at mergers & inquisitions website, some good advice there

just went on it and bookmarked, very useful! thanks
Original post by Princepieman

x

My word that was helpful. Thanks for giving out that info! Pay looks higher than i thought.

Original post by Trapz99

x

thanks! I've heard about quantitative research, is it mainly based on statistical models rather than fundamentals? I am doing a quantiative degree so that might be a good fit, but im guessing that since it's mainly methodical work it might be replaced by algorithms more quickly?

Original post by Ladbants

x

Thanks, I heard that hedge funds are a lot harder to get into though and require investment banking experience, so its not really something i'm considering. Im more interested in markets and AM
(edited 7 years ago)
Original post by BigTraderBoi

Thanks, I heard that hedge funds are a lot harder to get into though and require investment banking experience, so its not really something i'm considering. Im more interested in markets and AM


Anything buyside is more difficult to get into, it's just that HFs don't really recruit from uni all that much.

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Original post by BigTraderBoi
just went on it and bookmarked, very useful! thanks

My word that was helpful. Thanks for giving out that info! Pay looks higher than i thought.


thanks! I've heard about quantitative research, is it mainly based on statistical models rather than fundamentals? I am doing a quantiative degree so that might be a good fit, but im guessing that since it's mainly methodical work it might be replaced by algorithms more quickly?


Thanks, I heard that hedge funds are a lot harder to get into though and require investment banking experience, so its not really something i'm considering. Im more interested in markets and AM


Yeah hedge funds are harder to get into, but you can get in after three years at a bank. AM is also very hard to get into.

Quantitative research requires a PhD or a MSc is you're really really smart. Quants are usually really clever guys.
Reply 8
Avatar for makrxx
makrxx
11
Prince, would AM in a bulge bracket roughly the same figures as Fidelity?

Thought a 35-40k base was quite low considering HSBC RBWM pays 33k, PWC Consulting 33k etc (of course not the fairest of comparison)
Original post by makrxx
Prince, would AM in a bulge bracket roughly the same figures as Fidelity?

Thought a 35-40k base was quite low considering HSBC RBWM pays 33k, PWC Consulting 33k etc (of course not the fairest of comparison)


Tbf Blackrock is £38k base.

And it depends, some will pay similarly to traditional FO and some lower.

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Original post by BigTraderBoi
just went on it and bookmarked, very useful! thanks

My word that was helpful. Thanks for giving out that info! Pay looks higher than i thought.


thanks! I've heard about quantitative research, is it mainly based on statistical models rather than fundamentals? I am doing a quantiative degree so that might be a good fit, but im guessing that since it's mainly methodical work it might be replaced by algorithms more quickly?


Thanks, I heard that hedge funds are a lot harder to get into though and require investment banking experience, so its not really something i'm considering. Im more interested in markets and AM


Sorry I don't know much about quantitative research but yh I think you do need a PhD or Msc in Maths/Computing/Physics/Engineering for those jobs
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Oh my Ur embarrassing urself mate u ain't no ****.
Original post by Unclebig69
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Oh my Ur embarrassing urself mate u ain't no ****.


Quality username
Reply 13
Avatar for F4N
F4N
10
Original post by Princepieman
1) usual range is 60-80 hours a week, so roughly similar to S&T. AM houses tend to have a bit more flexibility with what they can do vs banks, but the difference isn't that huge.

2) from a convo I had with a guy in AM at Fidelity:
ER*associate - £35k-40k base + £5k-10k*bonus
Senior associate - £60-70k + £20-30k
Junior analyst - £90-100k + £20-50k
Senior analyst/head of research - £100-150k + £50-150k
PM - £125-175k + bonus that is entirely dependent on fund performance

Some PMs are certainly in the high six to seven figures.

3) there's always going to be a need for fund managers but there is a bit of pressure from electronic asset managers


I think some of your information is a bit off. I can't speak for AM at a bank but at somewhere like Fidelity or Blackrock:

1) The hours are better than S&T. For S&T, you will probably work 60 hours or more a week, depending on your desk. In AM, you work around 50 hours (8AM - 6PM, 5 days a week) and the lifestyle is a lot more chill.

2) The figures are slightly outdated but broadly true. The pay is much less than S&T.

3) Sadly, passive investing is extremely popular.
Original post by F4N
I think some of your information is a bit off. I can't speak for AM at a bank but at somewhere like Fidelity or Blackrock:

1) The hours are better than S&T. For S&T, you will probably work 60 hours or more a week, depending on your desk. In AM, you work around 50 hours (8AM - 6PM, 5 days a week) and the lifestyle is a lot more chill.

2) The figures are slightly outdated but broadly true. The pay is much less than S&T.

3) Sadly, passive investing is extremely popular.


1 broadly depends on desk and fund type, there are some teams at BR and the like that work 60+ hours a week consistently.

Quite hard to generalise tbh.

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Are asset management positions in insurance companies easier to get into? What about investment advisory?
Original post by Vallern
Are asset management positions in insurance companies easier to get into? What about investment advisory?


No and possibly

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Original post by Vallern
Are asset management positions in insurance companies easier to get into? What about investment advisory?


If you mean investment consulting at one of the big4, then yeah it's not as hard to get into as asset management.
Original post by Trapz99
If you mean investment consulting at one of the big4, then yeah it's not as hard to get into as asset management.


I was under the impression that only KPMG has a graduate investment advisory grad role. Is this statement false; do the other 3 firms offer such positions?
Original post by Vallern
I was under the impression that only KPMG has a graduate investment advisory grad role. Is this statement false; do the other 3 firms offer such positions?


Not I have only heard of kpmg having an investment consulting side but I assumed that the other would have it as well. I guess not.

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