CalSTRS has on their website a nice compensation review, provided by McLagan. Very useful to see where
they and peers are for positions at all levels.
Bottom line: know your worth.
Link to the PDF to follow.
"The pay is amazing, I only go in three days a week, and the whole place is a ghost town on Fridays after 2pm. We're starting up a pickle-ball team to take on the folks from Yale, too!"
#allocatorlife
The CIO of Princeton's endowment ($36bn AUM) is retiring.
Recruiting firm David Barret Partners will be leading the search for his replacement. Contact details for the recruiter will be included in our weekly newsletter.
"Wisconsin last year paid Chief Investment Officer Edwin Denson more than $1.2 million for managing the retirement savings of state workers, including teachers and firefighters.
That’s eight times the governor’s salary, making him the state’s highest-paid official in data
Just crossed 3,000 followers, very much appreciated all!
Our goal remains the same, share high quality roles at institutional allocators. We post about 5-10 new jobs on the website every day and share a few of those here.
Free for students as well, just send us an e-mail.
Great resource here on university endowment returns and style analysis from
@MarkovMPI
:
They put out a lot of great research in this area. Good example here with UPenn's FY 2022 0% return.
@Penn
Great article out by
@sovereignfund
at
@StanfordLTI
on drivers of returns for institutional allocators:
"We argue an investor’s organizational capabilities determine what asset classes are investable and how investors can invest in them."
Start the new year off right - find a role in the allocator world: make great money doing interesting finance work without all the stress. Follow us to learn about open roles as they get posted.
Here's the link to our latest newsletter, goes out every Friday:
We post a ton of other jobs there and you can sign up on the website for free:
#hiring
#allocatorjobs
Kelli has an enormously positive and well-deserved reputation as a high quality leader. Great news.
Her prior role as Managing Director of Research at the Cleveland Clinic ($17 billion) will get posted once we have the details.
Great scoop from
@AliciaMcElhaney
and
@iimag
.
@CramerTracker
A common workaround for HB-1 visa issues. Role will have very specific experience needs that the incumbent perfectly matches (especially with firm-specific tools).
They can then say they 'posted the role publicly'. But alas, no one else fits the requirements. Surprise.
@SellSideSponge
For those hearing or near to those who receive such messages, we say come to the light. The Allocator path (pensions, endowments, foundations, etc.) can be a great career in finance without that wackiness.
Jobs posted whenever we find them.
@SuperMugatu
A Random Walk Down Wall Street - by Burton Malkiel
Asset Management - by Andrew Ang
Better Than Alpha - by
@schelling_chris
Beyond Diversification - by Sebastien Page
Capital Allocators - by
@tseides
Crisis of Crowding - by Ludwig Chincarini
Expected Returns - by Antti Ilmanen
Internship Mega Thread (access is free for students, just e-mail us):
PIMCO - MBA Intern (Credit research)
Vanguard - MBA Intern (investments)
University of Virginia - Investment Intern
@rhunterh
Take what you would charge as an annual salary (e.g., $350k/year) and divide that to an hourly rate. Estimate the number of hours for the gig and go from there.
Be very clear to the person that this is the framework from which you're operating and they should be fine with it.
@hotgirlcapital
Highly recommend
@tseides
podcast, Capital Allocators. Great recent examples is the interview with Gregg Lemkau of MSD. Also the one with Donna Snyder from Kresge Foundation or the one with Roz Hewsenian of Helmsley Trust we’re also both excellent.
Can't say enough about the quality of the quarterly J.P. Morgan Guide to the Markets. It's used by a lot of investment folks and is a great reference as you're preparing for interviews.
Thankfully, they make it freely available here:
Speaking of David Barrett Partners, the recruiting firm,
@tseides
had a great podcast episode interviewing David, worth a listen:
If you're an up and coming allocator, take a minute to look into the Capital Allocators University that Ted runs: