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Originally Posted by Unregistered
That is comforting to know. Sounds pretty interesting to me. How are the career prospects? Knowing that few reach the PM level which is probably the peak and that they have have decades of experience, I am interested to know what entails in between. Analyst>Senior Analyst>???>Asst PM>PM?
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Not familiar with multi asset setup. PMs (junior or senior does not matter) essentially mean the AUM and P&L belong to you.
Assistant PM and analyst would probably be grey-ish for MA setup, since no one is really doing the bottom up type of things. So likely harder to say who is more analyst, who is more assistant PMs. In fact, everyone in MA team in my old shop call themselves PMs. So it is grey.
For other asset class, it is abit more obvious who is who, and depends on the setup of the team and firm. Some PMs just focus on portfolio management, some PMs still have its own coverage, while some analyst are involved in portfolio management. The career path for analyst can also be independent from PM branch. So it differs, and just go in with an open mind. It is more clear cut whether you are a PM and not a PM.