Entry-level analyst role in Treasury at a large University, or an entry-level analyst role in Performance Measurement at a large pension fund?
I assume neither will get me into equity research, but which is the better long-term career choice?
Private sector > government
This.
yes
The only thing I would add is that if you want to actually play with the money some day, the role at the university could be the better play. Potentially fewer levels of control between you and the person making the investments. Not a guarantee, but it’s much easier to work your way to the top when you actually get to work with the people who currently occupy the top.
Don’t kid yourself. Working at a university is public sector. I’ve worked in both public and private, and although the private is more glamourous, the public is super secure, great benefits and stable pensions. If I want the excitement of private sector life, I can get that by running my own portfolio.
Anyway I’ve worked as a treasury analyst and currently as a performance analyst.
If the treasury dept issues debt, which is unlilkey as its a university, then it is very interesting as you’ll be dealing with credit rating agencies. If all you’re doing is managing cashflow and borrowing, its pretty dull.
The performance analyst role depends on what type of performance criteria they use to manage. If they are using risk metrics…sharpe etc, then it could be very interesting. If you’re simply calculating returns (which is likely as pension funds don’t give two $% about volitilty given their time horizons) then its more like a data entry job.
I personally hate being a perf analyst. But life in the pension fund is good. Huge upward growth potentional. Moderate but still very comfy salarys, and a decent work life balance. I’m not even 30 and I’ve got a full pension on lockdown, and 4 weeks vacation. Plus the private sector guys line up at the doors here to peddle their wares.
When I am older and care less about things, I would like to work at some university endowment. Those guys work from like 10 to 4 and get booze trips from all the FoF managers.
^i thought about that too.
Shut up and dance