<p>Hey guys</p>
<p>I'm really interested in becoming a portfolio manager. Not for the money, I just really enjoy investing. And to get paid to manage someone's portfolio doesn't sound too bad.</p>
<p>How competitive are jobs for portfolio managers?</p>
<p>Also, what is the best major for someone in money management? I'd suppose Finance or Econ?</p>
<p>Thanks</p>
<p>Bump (10chars)</p>
<p>Finance if your school has a business school, econ or math if it does not. </p>
<p>Jobs at hedge funds and good asset management companies (think Blackrock, PIMCO, Fidelity, etc.) are very competitive (on par with investment banking jobs out of undergrad). However, there are other firms where it is easier to break into (lesser known mutual funds, etc.).</p>
<p>You should be at a target school and try to get the best grades possible, then shoot for an internship at a well known firm.</p>
<p>Is there a difference between hedge funds and just investing management jobs? I’m just looking to become an asset/portfolio/investment manager. (not IB)</p>
<p>A hedge fund is a type of investment management job. It is usually one of the most sought after because there are less rules and regulations and they usually make the most money.</p>
<p>Okay, so the other jobs aren’t as competetive, right?</p>
<p>ok, first of all your not becoming a hedge fund manager, so get that idea out of your head. What you will most likely become is a “financial advisor” in which you work entirely on commission. Basically your no different than a used car salesman or real estate agent. The job is entirely sales. For the vast majority of people (89%), it turns out to be a crummy job that they end up leaving.</p>
<p>And these jobs are not at all competitive. They hire almost everyone off the street since they don’t cost the company much money due to their commission based salary.</p>
<p>If you want to manage OPM (other people’s money), you should have an appreciation for the amount of work that they did to make that money and how important it is to them. I asked my son if he wanted to manage my money and he told me that he would be afraid to do it for fear of losing it. That’s not a bad attitude to start out with.</p>
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<p>Haha, he’s smart. If he lost your money, he"ll have to support you</p>
<p>I wouldn’t want my son managing my money now either. I have to see many more years of his track record first. BTW, he is actually working at a hedge fund.</p>
<p>I’d just make more.</p>
<p>I taught him trading when he was in his early teens.</p>
<p>^ So, did you inform DS on how hedge/private equity/venture make their $$$ ???</p>
<p>If you want to be a portfolio manager, a good idea is to get your CFA. It helps establish credibility. Ultimately, all jobs where you manager other people’s money, require you to have connections and do sales. There is no way someone is going to just randomly give you money to play around with without a track record. If you want to gain experience, you can try working at a broker/dealer. Do some phone pitches and see how the process works and also get sponsored while your at it.</p>