Portfolio Manager

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bryant

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Hello,
I was wondering if anyone could tell me about bank portfolio management (on the client investments side). Is the job essentially the same as a fund manager, how competitive is it, lucrative, credentials, etc.? Any information would be most helpful. Thanks
 
A private client portfolio manager is very different from a fund manager. The credentials are usually MBA and or CFA prefered. How lucrative the position is depends on the co. you are with, the assets undermanagement and how the co. designed the pay structure.
 
I'm kinda stuck here in the midwest (K.C. MO) and I will be for about 4 yrs. Is it necessary to go to a name brand MBA school (UT, UCLA, etc.) to end up working as a PM in a bank like Bank of America in Central Valley, CA? The only decent school around here is KU. Also, would I be undercutting myself if expected around 200K doing this job when I tuned 30 (8 yrs from now)? Thanks
 
A PM at Bof A in KC....200k in 80 years isn't going to happen!
 
200k in eight years even on the (West) coast? I'm from CA and plan on moving back after some work experience here. Would I be better off trying to move up the ranks in an investments firm (Americ. Cent., Wach, etc) in terms of experience and $?
 
Think $90 @ 30.

And you'll still be one of the youngest in the position.
 
So I guess bank PM positions really aren't that lucrative at all unless your 80 years old. I'm kinda new to this area of interest, what are some investment related jobs that someone who didn't go to a name brand school could obtain? Are my expectations too high for wanting to make over $100K by the time I'm 30 (8yrs) if I have my CFA (will take level II next June) and an MBA or MSF (from either KU, Univ. of Wash, or Washing. Univ)?
 
$100k is certainly attainable -- and I presume anything west coast would be higher pay.

But the bottom line in that position is how well you can sell -- mostly to clients twice your age.
 
Maybe it would be best just hanging out with the PMs, being an assistant or analyst, until I'm old and wise enough to become a Jedi master.
 
I'm finishing up school and will start my job in the revenue mang. dept of Embarq in August. I guess my job is a bit deviated from what I should be doing to reach my objective.
 
Everyone has to start somewhere. If you are really interested in a PM position it should be that hard to land and Asst. PM gig at a bank and you will have a much better idea of what goes on and how much (or little) people really make in that role. You also may really like/dislike what they do once you get in there and that will make a huge difference.
 
I was thinking about the post undergrad that I should go for in approx. 2.5yrs, and what do you think about Wash Us MBA or MSF over KUs MBA or MSF? Does the reputation of a school really matter if I have work experience and the CFA designation? I would like to end up as a portfolio manager (of course) at a mediocre, maybe top, bank.
 
Shoot for a top bank and the reputation does count. The CFA does not put you in another level just a smaller field of people that STILL went to Harvard,Penn and Oxford.
 
If you want to be a PM at a mediocre bank MBA from anywhere will be fine and CFA added bonus.
 
Thanks for the info gb09 and bean. If I could ask one more question, do either of you think that a school like Wash U would be sufficient to land a PM job, assist PM, or analyst job at Wachovia, Wells Fargo, BOA, etc?
 
Yep, but definitely try to get out there to one of the banks you are interested in and check it out for yourself. You'll see plenty of no name MBAs but you'll probably need your CFA if you ever want to get promoted!
 
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