Would it be better in the eyes of a larger firm hiring a PM if the applicant had several years of experience as a PM at Trust department, or if they had several years of experience as an equity analyst at a small to mid-sized ($5b aum) institutional firm?
What kind of PM ?
What does a PM for a trust department do?
It depends in what they’re looking for really. Trust PM and equity analyst at institutional firms are different tracks…
So I’d like to work towards being a PM for an institutional firm. Are you saying the Trust Dept. PM experience wouldn’t really put me on the right track for that, and I’d be better waiting for an equity analyst position at an institutional firm to open up, then work up to PM from the inside? At the trust department the PM would basically manage money for individual investors, compared to the institutional manager managing much more money for things like foundations and endowments.
the equity position is a better route
equity analyst 100%. i’m assuming there is more admin work if you’re at the trust dept so experience wouldn’t be as good. your stock picking ability should be able to shine better as an equity analyst over a trust dept PM. plus you’re already in the door as an analyst.