I will never settle for a contract role if I am already holding perm. Besides the AM industry is undergoing servere cost cutting and fee reduction due to massive monthly outflows into passive instruments and this trend shows no sign of abating.

Chances of conversion to perm are not high as the existing headcounts are being reorganized and reduced in most AM firms. Even huge ones like Fidelity, JPM and BR are getting hit left right centre. The smaller ones like LM, FT, are completely screwed.

Surprisingly it's those niche boutique AM firms that are doing much better in terms of client retention.