Tactical Asset Allocation Strategist – Fixed Income

T. Rowe Price • Baltimore, MD

2d • $175,000 - $275,000 • Hybrid

About The Position

The Tactical Asset Allocation (TAA) Strategist – Fixed Income generates differentiated insights and actionable tactical recommendations across global fixed income markets for T. Rowe Price’s Multi-Asset portfolios. The position uses top-down research to identify opportunities for implementation across portfolios, with two primary objectives: generating trade ideas and producing high-value content for internal and external partners. Success is measured by the alpha contribution of ideas implemented through TAA processes and the value of insights delivered to clients and internal stakeholders.

The Strategist owns the underlying tactical allocation framework and is accountable for its results. The role calls for strong analytical skills, a proven asset allocation track record, trusted relationships across the firm’s investment divisions, and the ability to serve as a recognized fixed income expert. It also involves engagement with clients, sell-side research firms, and industry peers.

Primary coverage includes emerging market debt in hard and local currencies, high yield, international hedged bonds, bank loans, securitized credit, and inflation-linked bonds (TIPS). Additional coverage may include convertible bonds, emerging market corporate debt, and foreign exchange.

The role is eligible for hybrid work, with up to one day per week from home. Base salary ranges from $175,000 to $275,000 for the listed locations: Maryland, Colorado, Washington, remote workers, Washington, D.C., New York, and California. Placement within the range depends on relevant experience and skills. Base salary is one component of total compensation; employees may be eligible for a discretionary bonus based on company and individual performance.

Requirements

• Bachelor’s degree or an equivalent combination of education and relevant professional experience.
• 10+ years of experience in multi-asset investing, tactical asset allocation, or fixed income investing.
• Strong experience in fixed income research, strategy, portfolio management, or tactical asset allocation.
• Deep understanding of global fixed income markets, macroeconomic drivers, monetary policy, credit fundamentals, and relative valuations.
• Demonstrated ability to generate differentiated investment ideas and translate research into actionable recommendations.
• Strong analytical and quantitative capabilities, including financial models, market data, and investment research tools.
• Excellent written and verbal communication skills and ability to defend investment views with senior investment professionals.
• Collaborative mindset and ability to build relationships across investment teams.

Nice To Haves

• CFA designation or advanced degree in finance, economics, or a related discipline.
• Familiarity with AI-enabled research tools.

Responsibilities

• Lead research and develop tactical views across global fixed income markets, including government bonds, investment grade and high yield credit, emerging market debt, securitized credit, loans, and inflation-linked bonds.
• Apply the four-pillar research framework—Macro, Fundamentals, Valuation, and Sentiment—to identify market dislocations, investment opportunities, and risks.
• Translate research into clear overweight, neutral, or underweight recommendations supported by an investment rationale, key risks, and potential trade expressions.
• Monitor market developments and reassess recommendations as investment conditions evolve.
• Collaborate with fixed income analysts, portfolio managers, traders, and other investment professionals to uncover differentiated insights using the firm’s global research platform.
• Develop and maintain proprietary indicators, dashboards, and analytical tools for systematic monitoring of fixed income markets.
• Work with quantitative research teams to incorporate systematic signals, models, and scenario analysis into discretionary research.
• Use AI-enabled research tools to improve research efficiency, analytical capabilities, and idea generation.
• Present and debate recommendations with Multi-Asset portfolio managers and investment committees, challenge assumptions, and contribute to cross-asset discussions.
• Serve as a fixed income subject matter expert, advising on portfolio implications and potential implementation approaches while respecting portfolio manager discretion.
• Produce concise investment research, recommendations, and market updates for internal stakeholders and, where appropriate, external clients.
• Build relationships across the investment platform and with external research providers to source ideas and challenge consensus.
• Engage with clients, sell-side research firms, and industry peers.

Benefits

• Competitive compensation
• Annual bonus eligibility
• Generous retirement plan
• Hybrid work schedule
• Health and wellness benefits, including online therapy
• Paid time off for vacation, illness, medical appointments, and volunteering days
• Family care resources, including fertility and adoption benefits

What This Job Offers

• Job Type: Full-time
• Career Level: Senior