Investment Grade Credit Trader

PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking.  We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients.

JOB DESCRIPTION

PIMCO is seeking to recruit a Trader, Investment Grade Credit based in Newport Beach, CA. This individual will be responsible for trading significant amounts of Investment Grade Credit assets for the firm, partnering closely with Portfolio Managers and Credit Analysts to identify relative value, manage liquidity, and implement risk-efficient trade ideas across portfolios. The role requires strong market instincts, disciplined risk management, and the ability to communicate actionable market color and trade recommendations to internal stakeholders. The trader will also manage and develop relationships with brokerage firms and issuers, including active participation in primary market execution and new issue evaluation. PIMCO has roughly $400+ billion in total Investment Grade credit exposure across all portfolios at the firm.

In addition to trading experience, this position requires strong relative value skills, a solid understanding of portfolio construction and risk management, and the ability to apply fixed income credit analysis within a dynamic macro and cross-asset context. The successful candidate will show good judgment under pressure, attention to detail, and process discipline, while confidently using quantitative tools to assess risk, liquidity, and execution strategies.  

REQUIREMENTS

• Strong academic credentials; MBA and/or CFA preferred
• 8+ years of experience in a fixed income trading capacity (investment grade preferred)
• Demonstrated experience trading Investment Grade corporates across cash, primary, and secondary markets
• Excellent fixed income product knowledge and strong quantitative/analytical skills (spread analysis, curve/roll, basis, liquidity and financing)
• Portfolio Management exposure is preferred, evidenced by direct responsibility for positioning and risk on a credit sleeve/book (including smaller AUM mandates) or experience supporting day-to-day portfolio decisions as a junior PM / co-PM.
• Ability to execute efficiently at scale and coordinate information flow across the Global Credit Desk (market color, axes, relative value, and execution strategy)
• Strong understanding of portfolio/risk management concepts (risk budgets, hedging tools, scenario analysis and drawdown awareness)
• Familiarity with credit derivatives (e.g., CDX, single-name CDS) and hedging applications is a plus
• Strong communication skills internally and externally; effectively synthesize market developments into actionable insights; develop and maintain external trading relationships
• Ensure trading activity complies with client guidelines and internal policies, in partnership with Account Managers and Portfolio Managers
• Ability to partner with Portfolio Managers to add/reduce exposure across sectors and individual credits, balancing valuation, liquidity and portfolio constraints
• Well organized, high energy/self-starter; must work well in a team environment and collaborate effectively with senior Portfolio Managers
• Ability to develop thoughtful trading and execution strategies aligned to portfolio objectives, including alternative approaches to achieve risk/return goals

PIMCO follows a total compensation approach when rewarding employees which includes a base salary and a discretionary bonus. Base salary is the fixed component of compensation that is determined by core job responsibilities, relevant experience, internal level, and market factors. The discretionary bonus is used to award performance and therefore is determined by company, business, team, and individual performance.
Salary Range: $ 205,000.00 - $ 305,000.00

Equal Employment Opportunity and Affirmative Action Statement

PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other basis such as medical condition, or marital status under applicable laws.

Applicants with Disabilities

PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.