All relative to other BS places (HF, MF, etc.). Also, Im referring to the equity anlalyst side of things.
Pay? Work atmosphere? Hours? Your opinion of long term job stability? etc
Thanks!
Manager allocation. Don’t do it.
I interviewed for an endowment, I guess it’s kinda similar to a pension fund, pretty good work life balance i guess but you won’t get much experience analyzing individual securities. It’s more about asset allocation and develop knowledge about difference types of funds and strategies, aset classes, etc.
What about David Swensen?
why the hate on manager allocation?
Its boring? Its like betting on the World Series of Poker instead of playing in it
Good job for AFTER you’ve made it.
It’s kind of like running backwards in a corn field.
Do you mind explaining?
Also, whats pay relative to other BS roles? I guess keeping in mind working less hours.
And just to add, this is in regards to an international position. So must have solid understanding of macroeconomics, which I find very interesting.
Depends on size, public/private, etc.
Most corporations might have an old pension plan and a 401k, which would be oversean by Human Resouces & Finance. Ultimate boss would be CFO. 9-5 job, tops out at mid 100s for most folks, or a bit higher in high COL cities. Big corportions will have retirement plans for multiple countries and is driven by local regulation. Lots of work with lawyers, accountants, HR, treasury.
Endowments tend to have more PE/HFs so they tend to pay more at terminal career roles. Small staff, turnover at the analyst level, more politics.
Expect salary of a finance department job. Little upward mobility.
^What about a state pension?
CFO…the king of back office is the “ultimate boss” at pension funds??? And CFOs top out at mid 100s???
Really politcal…
Underpformed? Those bastards! Had a down year? Get burned at the stake!
Having a great CIO/CEO that has a good relationship with trustees and the public is key to investment flexibility/freedom.
One of the best places to be is at a SWF that has investment flexibility and work with private investments. These guys can write massive checks and get approached with deals small investors can’t. Also these assets aren’t exactly marked to market on a daily basis so stakeholders have a longer term view on these investments.
Remember when Lehman approached a Korean SWF for an equity investment? Or when Texas Teachers bought apart of Bridgewater Associates?