Thoughts on PIMCO?
Hi all,
I go to a top 20 Undergrad, major in math, want to work in asset management and recently was hired as a summer analyst for PIMCO in Newport Beach. The pay seems quite competitive to me at $43.26 an hour (90 pro rated) with a 7500 relocation stipened. Seems like a lot of money.
I accepted as I had no other offers (had a Superday with Goldman as a Quant Strat at least however).
As a young person about to enter the adult world, I guess I am a bit worried that PIMCO will pigeonhole me to Fixed Income and that the position isn’t as glorious as let’s say Goldman Sachs IB in NYC on my resume. I feel silly saying this as my hourly pay is more than my parents even make, and they think I am being ungrateful and overthinking it.
So, how should I feel? Many have told me PIMCO is a superb company that is just as respected and excellent in AM as JPM/GS/MS in their fields. But also many of my classmates have never really heard of PIMCO.
I guess I just want to make sure I am making the right decision by taking this opportunity.
So what do you think? Please be honest, I just want to listen. Thanks for your time.
EDIT: thanks for your responses 🙂 . For those who are curious I am Client account analyst. So not a PM but the person who manages the account, relays house views, and develops the personal relationships it seems. I’m a people person so this seems great for me.
-Humbly Your Student
One response
Congratulations on your summer analyst position at PIMCO! It sounds like you have some concerns about the potential pigeonholing into fixed income and the perceived prestige of the company compared to firms like Goldman Sachs.
First of all, it’s important to recognize that PIMCO is indeed a top-tier asset management firm with a strong reputation in the industry. While it may not have the same level of name recognition as some investment banks, PIMCO is highly respected for its expertise in fixed income and has a long history of delivering solid returns for its clients. Working at PIMCO can provide you with valuable experience and knowledge in the asset management space, which can be just as valuable, if not more, than IB experience for some career paths.
Regarding your concern about being pigeonholed into fixed income, it’s worth noting that many successful professionals have built rewarding careers specializing in one area of finance. While it’s important to keep your options open and explore different fields if you’re still unsure about your long-term career goals, gaining expertise in fixed income can be a valuable asset in your skill set. Additionally, as a client account analyst, you’ll have the opportunity to develop relationships with clients, which can be crucial for success in asset management.
Ultimately, the decision to accept this opportunity should be based on your own career goals and interests. It’s great to hear that you’re a people person and feel excited about this role. Remember that no job is perfect, and it’s normal to have reservations about any position, especially as you’re just starting out in your career. Stay open-minded, work hard, and seize the opportunities for growth and learning that come your way.
Best of luck in your new role at PIMCO!