Asset Management Salary and Lifestyle

Originally Posted by Unregistered

You seem to be operating under the misconception that portfolio management is a job that anyone can apply and enter easily. A PM is a very, senior and high-ranking position, and if your priorities are work-life balance, then you haven't done your due diligence and you probably don't deserve it anyway.

Most of these grads probably think a PM stares at the market whole day and/or reads annual reports then go play with their POEMS account.

Why do most clowns here like to slam others for their post? And to the idiot who said you interviewed an NTU undergrad, if you find the candidate unsuitable, why call him up in the first place? Most of you guys are just jealous trolls with stagnant careers

Originally Posted by JoeClark

Hello,

I am soon to finish up my undergrad studies and am trying to choose a profession for myself. My interests tend to shift over time but currently I am strongly considering a career in Asset Management and had some questions about that field.
I am looking for an occupation with a decent work-life balance. I don't need to work 9-5 but I want to have time during evenings and weekends to enjoy life (family, movies, sports, exercise...) and don't only want to focus on my profession (although I am willing to work very very hard for the first 5-10 years). Is this possible in asset management? Can one become a portfolio manager in a mutual fund (I understand that HF's tend to have longer hours), for example, and work regular and normal hours? Are their any other asset management roles that you think would be a good fit for me? I went through many resourses [URL="://blog.advids.co/20-video-examples-from-it-asset-management-software-solution-and-services/"]Asset Management Video[/ for help but,did not find any help.
Please help me out.

Any help will be appreciated.
Thank you .

Hi, I've been in the hedge fund industry for close to 5 years. Firstly, you don't just become a PM, PMs are generally made up of scholars and/or high performers who would have had many years to decades of experience either trading or doing IB. Secondly, if you are non ivy league graduate, your chances to even become a trading assistant for PMs in a hedge fund is slimmer than striking the lottery. For example a fellow in my office who's a trading assistant graduated from imperial college London. A first round mental math question such as what is 119^4/1.4 is considered simple. The people who are in that league are not there by chance, or luck.

Even someone with a local cert with honors backed with CFA level 3 and FRM may not make the cut. PM don't just bet on the market, they make sure their bet always wins. Especially in hedge funds where a market downturn is not an excuse to lose money. If you are close to the above credentials, congratulations you might have a glimmer of hope. If you aren't, then look on the bright side, you still can have a decent career in other functions within the finance industry.

Originally Posted by JoeClark

Hello,

I am soon to finish up my undergrad studies and am trying to choose a profession for myself. My interests tend to shift over time but currently I am strongly considering a career in Asset Management and had some questions about that field.
I am looking for an occupation with a decent work-life balance. I don't need to work 9-5 but I want to have time during evenings and weekends to enjoy life (family, movies, sports, exercise...) and don't only want to focus on my profession (although I am willing to work very very hard for the first 5-10 years). Is this possible in asset management? Can one become a portfolio manager in a mutual fund (I understand that HF's tend to have longer hours), for example, and work regular and normal hours? Are their any other asset management roles that you think would be a good fit for me? I went through many resourses [URL="://blog.advids.co/20-video-examples-from-it-asset-management-software-solution-and-services/"]Asset Management Video[/ for help but,did not find any help.
Please help me out.

Any help will be appreciated.
Thank you .

My friend, you have zero chances of becoming a PM be it a mutual fund or hedge fund whatsoever. Firstly, PMS are traders with many years of record pnL who are experts at not only betting but making winning bets on the market. Secondly if you are non ivy league graduate your chances of becoming even a trading assistant is hugely diminished. TAs in my firm are from imperial college London. Do you know anything about the market? Trading? Managing risks? Portfolio rebalancing? If you are not near any of the above, then resign to fate and go into other functions within finance, you still can make a decent living if you are good.

Originally Posted by Unregistered

Why do most clowns here like to slam others for their post? And to the idiot who said you interviewed an NTU undergrad, if you find the candidate unsuitable, why call him up in the first place? Most of you guys are just jealous trolls with stagnant careers

The whole idea of interview is to asses whether the applicant is suitable in terms of character, expectation, culture, experience, EQ etc. Going by your logic that employers should only call up suitable candidates, why even bother with interview?

Next time try to apply a bit of common sense first before posting typical grand standing meaningless BS to show how "moral" you are.

for the poster above in the hedge fund, how does one get into a reputable hedge fund? do they mainly recruit from sell side ibd/s&t traditionally? do certain groups on sell side have better exit opps?

Originally Posted by Unregistered

for the poster above in the hedge fund, how does one get into a reputable hedge fund? do they mainly recruit from sell side ibd/s&t traditionally? do certain groups on sell side have better exit opps?

Sell side s&t- to be specific, if you are a sales analyst, associate or even VP or D, you do not stand a chance. Hedge funds only hire traders, senior traders and former PMS. Sales and trading should never be confused, you sell products and take credit for volume in sales while you make markets, hedge positions, and maybe some prop. Sales do not require you to read news, monitor market movement unlike in trading. If one is in sales, I can confidently say 0 chance to become a PM.

To answer your question, hedge funds hire TAs, execution traders, dealers and PMs only from sell side traders if ever.

Originally Posted by Unregistered

Hi, I've been in the hedge fund industry for close to 5 years. Firstly, you don't just become a PM, PMs are generally made up of scholars and/or high performers who would have had many years to decades of experience either trading or doing IB. Secondly, if you are non ivy league graduate, your chances to even become a trading assistant for PMs in a hedge fund is slimmer than striking the lottery. For example a fellow in my office who's a trading assistant graduated from imperial college London. A first round mental math question such as what is 119^4/1.4 is considered simple. The people who are in that league are not there by chance, or luck.

Even someone with a local cert with honors backed with CFA level 3 and FRM may not make the cut. PM don't just bet on the market, they make sure their bet always wins. Especially in hedge funds where a market downturn is not an excuse to lose money. If you are close to the above credentials, congratulations you might have a glimmer of hope. If you aren't, then look on the bright side, you still can have a decent career in other functions within the finance industry.

Really? They must be overpaid, since most most can't even outperform the market index in the mid/long term.

Originally Posted by Unregistered

Sell side s&t- to be specific, if you are a sales analyst, associate or even VP or D, you do not stand a chance. Hedge funds only hire traders, senior traders and former PMS. Sales and trading should never be confused, you sell products and take credit for volume in sales while you make markets, hedge positions, and maybe some prop. Sales do not require you to read news, monitor market movement unlike in trading. If one is in sales, I can confidently say 0 chance to become a PM.

To answer your question, hedge funds hire TAs, execution traders, dealers and PMs only from sell side traders if ever.

thanks! interesting to know.

i'm actually going down the capital markets route. what kind of exit opportunities do you see for ecm/dcm from an investment bank?

Originally Posted by Unregistered

Hi, I've been in the hedge fund industry for close to 5 years. Firstly, you don't just become a PM, PMs are generally made up of scholars and/or high performers who would have had many years to decades of experience either trading or doing IB. Secondly, if you are non ivy league graduate, your chances to even become a trading assistant for PMs in a hedge fund is slimmer than striking the lottery. For example a fellow in my office who's a trading assistant graduated from imperial college London. A first round mental math question such as what is 119^4/1.4 is considered simple. The people who are in that league are not there by chance, or luck.

Even someone with a local cert with honors backed with CFA level 3 and FRM may not make the cut. PM don't just bet on the market, they make sure their bet always wins. Especially in hedge funds where a market downturn is not an excuse to lose money. If you are close to the above credentials, congratulations you might have a glimmer of hope. If you aren't, then look on the bright side, you still can have a decent career in other functions within the finance industry.

I think you have too high opinion of the HF industry, and maybe by association yourself. Having been in the HF industry for many years, the PMs I know are smart but not genius. Sure, Ivy league but so what. I had a Yale PhD working under me and Ivy league really doesn't make any diff in the workplace when you can't beat the benchmark, as many managers do struggle to beat the benchmark. Forget about winning every bet - that certainly never happens. And it does sound like pretty dumb interview question to ask 119^4/1.4 - fact is I can't solve that and neither can the smartest folks I know. Trading profitably is about creativity, not being a calculator.