University Endowments

Anyone here ever worked at a university endowment? I feel like I am fairly familiar, read through Pioneering Portfolio Management and work in buy side equity research now. Pluses/minuses?

Here is what I am thinking:

Pluses:

  • free classes. Good if you work at a decent school’s endowment and if they have a part time or executive MBA program.

  • free classes for kids. Good with the same stipulations as above.

  • Decent work/life balance, whatever that is.

  • Accountability to a sole client (the board) means you can focus more on actual work than “optics” and “putting out fires.”

  • Presumably you can feel somewhat good about what you are doing, as opposed to being asked to sell snake oil half the time.

Minuses:

  • less pay

  • potentially less upward mobility

What do youse think?

Generally those are probably right. Unless you work for something like Harvard’s endowment, which actually is quite high profile.

And then there’s the whole fund-of-funds aspect which some universities use

  • More focus on longer term results.

  • There will be more politics with the board than you think, but handlable

I work for a small endowment of a private university, and you pretty much nailed it. The compensation is frustratingly low, but I could never get these hours/ vacation time working anywhere else.

Let me know if you have any specific questions