RFP careers: Writing your path in asset management
While there is a marked slowdown in recruitment across most functions in Asset Management, a key area that remains resilient from a hiring perspective is Request for Proposals (RFPs). In my experience of hiring across product, marketing, and distribution in Asset Management you tend to get two types of RFP professionals: the career RFP writer who is committed to their calling and the RFP writer who is passing through on their way to a client-facing or product management/development style opportunity.
No matter which camp you fall into, I believe working in RFP is an excellent career choice for gaining new skills, professional development, and having a career that is resilient through all market cycles.
Here are some of the key career wins you gain by building a career in this area:
Communication Mastery (RFP) Writers:
Develop exceptional communication skills. You become adept at translating complex financial concepts and strategies into clear, concise, and compelling language that is tailored to its audience.
Influence and Impact:
As an RFP writer, you play a key role in shaping how your firm is perceived by clients and consultants. You are at the forefront of articulating the firm’s strengths and the RFPs you produce play a direct role in the firm winning new business. You also contribute to the process of triaging which opportunities are worth going for!
To fulfil this role effectively, you need to be on top of market trends, the regulatory environment, competitor activity, and investment strategies. This constant exposure to new information keeps your knowledge base sharp and current.
Collaboration and Internal Network (RFP) writers:
Work across product, marketing, Investment Floor, Compliance, Legal, Distribution, and Technology By undertaking this role, you gain a well-rounded knowledge of an Asset Management business and also develop a strong network for internal opportunities that arise.
As mentioned, no matter what market cycle we are in, Asset Management firms are constantly pitching their services to different client types, often globally. Talented RFP writers who can convey a firm’s value proposition compellingly will always be in demand.
The demand for good RFP writers has had an inflationary impact on basic salaries. RFP professionals can command basic salaries of 50k–110k and often make bonuses in the 20%–50% range.
Working in RFP brings a unique blend of intellectual challenge and professional development in an impactful role that directly affects a firm’s success. Several firms have diversified the range of duties expected of RFP professionals to make the role less cyclical and to satisfy the desire for more investment-related activities.
Want to learn more about current opportunities or discover if you’re being paid in line with the market? Please reach out to me at: Nathan.firstname.lastname@example.org