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Kamil90
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Joined: February 15th, 2012, 2:02 pm

Asset Management roles at different companies

June 3rd, 2023, 2:31 am

I would like to hear from those familiar with asset management roles: if given the opportunity to have the same position in Fixed Income space at Pimco(CA) or Goldman Sachs Asset Management(NYC), which one would have better potential? I am thinking the pay is about the same, so I am interested in other points of comparison. Pimco headquartered in CA, which makes me think once you have that job you are basically stuck there as there are not many employers of the same sort(unless you are ok to relocate but that is harder if one has family etc). On the other hand, GS is located in New York which offers plentiful further career moves? GS is a bigger firm so possibly more mobility opportunities? Anything else I should consider when comparing the two? 
 
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Alan
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Re: Asset Management roles at different companies

June 7th, 2023, 12:06 am

Well one is in a beach city with a gorgeous harbor and beaches and the best weather in the continental US (I live in that one).

I am guessing the pay is probably not the same.

Little Corona Beach:
littlecdm.jpg
I worked for an asset manager here for about 20 years (not PIMCO).
 
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bearish
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Re: Asset Management roles at different companies

June 7th, 2023, 1:00 am

They are clearly both located in very expensive and (if you like that sort of thing) very nice areas. Both pay well, although I really don’t have much of an idea of which pays more. The cultures are probably very different, and important. You just have to research that. Bill Gross has been gone long enough that his toxic rule is probably mostly history, but who knows? Corporate DNA is a weird thing. Goldman remains Goldman, as far as I can tell, so you can take any Sunday morning off that you’d like, as long as it doesn’t become a habit. And Allianz is actually quite a bit bigger than GS by most measures. So, while I happen to be living in NYC and working awkwardly close to Goldman, if put back to scratch and given the opportunities, I’d probably go with Newport Beach. I have golfed Pelican Hill, which is beautiful.
 
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Alan
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Re: Asset Management roles at different companies

June 7th, 2023, 8:26 pm

Speaking of Little Corona beach, it's the only one where I've seen dolphins in the surf line. So, I gave the Bing image creator the task of recreating that and it did a damn fine job. This is looking north, toward Big Corona beach, while the other shot I posted was looking south:
LittleCoronaWithDolphins.jpg
 
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Kamil90
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Re: Asset Management roles at different companies

June 8th, 2023, 1:24 am

Speaking of Little Corona beach, it's the only one where I've seen dolphins in the surf line. So, I gave the Bing image creator the task of recreating that and it did a damn fine job. This is looking north, toward Big Corona beach, while the other shot I posted was looking south:
LittleCoronaWithDolphins.jpg
It is all beautiful while you like your job, you have raises and all is rosy. I am more concerned is when you spend a few years there and things go south you basically have no other employer to turn to. Manhattan is full of firms of various size and caliber so you can always shop around and find another job possibly with a good bump in salary without that impacting your life, commute is still the same etc. Once you are in CA PIMCO has an upper hand on you as you really have no other option. Am I wrong?

And I am curious who do you think will pay more? I can't even guess but for the fact I find real estate is more affordable in the north east and so as other expenses I would think too. Cost of living is higher in SoCal.
 
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Kamil90
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Re: Asset Management roles at different companies

June 8th, 2023, 1:27 am

They are clearly both located in very expensive and (if you like that sort of thing) very nice areas. Both pay well, although I really don’t have much of an idea of which pays more. The cultures are probably very different, and important. You just have to research that. Bill Gross has been gone long enough that his toxic rule is probably mostly history, but who knows? Corporate DNA is a weird thing. Goldman remains Goldman, as far as I can tell, so you can take any Sunday morning off that you’d like, as long as it doesn’t become a habit. And Allianz is actually quite a bit bigger than GS by most measures. So, while I happen to be living in NYC and working awkwardly close to Goldman, if put back to scratch and given the opportunities, I’d probably go with Newport Beach. I have golfed Pelican Hill, which is beautiful.
I tried to research on google but could not find some summary or blogpost etc, I really don't know much about culture at PIMCO. I do have friends at GS so I know a bit more. Can you tell me what to be aware of when it comes to PIMCO? I am more concerned about a job being less valuable on the resume when it comes to making another jump at some point in the future.
 
JBGuerard
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Re: Asset Management roles at different companies

June 8th, 2023, 11:36 am

Beaches are most often very lovely, particularly in South Carolina or La Jolla. However, one can have a very serious Quant work environment and a fun time with winter sports, for those young Quants that like to hike, cross-country ski, downhill ski, or watch NFL games with coffee (and kalua) at 9 AM, in Anchorage, AK. Rent is one-third the cost of  La Jolla in AK.

John Guerard
Scientific Advisory Board, McKinley Capital Management,
Anchorage, Alaska




retired after 16 years in AK to Bluffton, SC
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Alan
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Re: Asset Management roles at different companies

June 8th, 2023, 2:59 pm

Speaking of Little Corona beach, it's the only one where I've seen dolphins in the surf line. So, I gave the Bing image creator the task of recreating that and it did a damn fine job. This is looking north, toward Big Corona beach, while the other shot I posted was looking south:
LittleCoronaWithDolphins.jpg
It is all beautiful while you like your job, you have raises and all is rosy. I am more concerned is when you spend a few years there and things go south you basically have no other employer to turn to. Manhattan is full of firms of various size and caliber so you can always shop around and find another job possibly with a good bump in salary without that impacting your life, commute is still the same etc. Once you are in CA PIMCO has an upper hand on you as you really have no other option. Am I wrong?

And I am curious who do you think will pay more? I can't even guess but for the fact I find real estate is more affordable in the north east and so as other expenses I would think too. Cost of living is higher in SoCal.


Re "no other option", track down a Money Market Directory (perhaps at a library) for a list of (institutional) money managers in Sothern California. 

I think PIMCO will pay less, as a rational employer will adjust for "living in paradise"  :D
 
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Alan
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Re: Asset Management roles at different companies

June 8th, 2023, 3:18 pm

Or ... 

Me:
I need a list of 50 institutional money managers located in southern California

ChatGPT:

Certainly! Here is a list of 50 institutional money managers located in Southern California:

1. Capital Group Companies
2. PIMCO
3. The TCW Group
4. Capital Research and Management Company
5. Dodge & Cox
6. Oaktree Capital Management
7. Western Asset Management Company
8. Ares Management
9. Franklin Templeton Investments
10. Causeway Capital Management
11. Kayne Anderson Rudnick Investment Management
12. Hotchkis & Wiley Capital Management
13. Brandes Investment Partners
14. First Pacific Advisors
15. DoubleLine Capital LP
16. Pacific Investment Management Company LLC
17. TimesSquare Capital Management
18. Aristotle Capital Management
19. ClearBridge Investments
20. Los Angeles Capital
21. Allianz Global Investors
22. BlackRock
23. J.P. Morgan Asset Management
24. Invesco
25. Dimensional Fund Advisors
26. Artisan Partners
27. Pacific Life Fund Advisors
28. Wilshire Associates
29. American Funds
30. Neuberger Berman
31. Waddell & Reed Investment Management Company
32. Loomis Sayles & Company
33. Glenmede Investment Management
34. Harbor Capital Advisors
35. Hotchkis & Wiley Capital Management
36. Payden & Rygel
37. Western Asset Management Company
38. Calamos Investments
39. TCW
40. Hancock Natural Resource Group
41. Blackstone Group
42. Oakwood Capital Management
43. City National Rochdale Investment Management
44. Sands Capital Management
45. ClearBridge Investments
46. GMO LLC
47. T. Rowe Price
48. Delaware Funds by Macquarie
49. Capital Innovations LLC
50. TIAA-CREF

Please note that this list is not exhaustive, and the inclusion of any specific money manager does not constitute an endorsement or recommendation. It is always advisable to conduct thorough research and due diligence when selecting a money manager or investment advisor.