The Progressive Corporation

High Yield Portfolio Manager

The Progressive Corporation$250K — $325K *
Finance & Insurance
5 - 7 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor's degree with 7 years experience OR Master's degree with 5 years experience
  • Strong knowledge of high-yield investment strategies and market regulations
  • Experience in corporate credit analysis and macro-economics
  • Proficient in bond math and yield curve dynamics
  • Demonstrated ability to manage investment risk and build relationships with dealers

Responsibilities

  • Manage high-yield bond portfolio to achieve strong returns
  • Set and implement investment strategies based on research
  • Make informed credit decisions and maintain market relationships
  • Conduct thorough issuer and industry research to inform portfolio management
  • Execute buy, hold, and sell decisions across capital structures

Benefits

  • 401(k) with dollar-for-dollar company match up to 6%
  • Comprehensive medical, dental, and vision coverage including free preventative care
  • Wellness and mental health programs
  • Flexible spending and health savings accounts
  • Paid time off, including volunteer time for community service
  • Support for career development and tuition assistance
  • Inclusive workplace culture with Employee Resource Groups
Full Job Description
As a high-yield portfolio manager, you'll help manage Progressive's high-yield bond portfolio, delivering strong total returns while protecting the company's balance sheet. In this role, you'll set investment strategies, make informed credit decisions, and maintain close connections to markets, issuers, and credit trends. You build and manage portfolios aligned to investment objectives and conduct in-depth issuer and industry research. Additionally, you'll implement buy, hold, and sell decisions across the capital structure and actively manage risk, liquidity, and exposure through market cycles.

Must-have qualifications
  • Bachelor's degree and a minimum of 7 years of relevant work experience.
  • {OR} Master's degree or higher and a minimum of 5 years of relevant work experience.

Preferred skills
  • Knowledge of high-yield strategies, bond math, yield curve dynamics, accounting, corporate credit analysis, covenants, macro-economics, and market regulations.
  • Prior experience presenting investment ideas in an organized and clear fashion.
  • Demonstrated skills defining problems, collecting and analyzing data, and drawing valid conclusions.
  • Ability to assume and manage investment risk.
  • Strong relationship-building skills with the ability to maintain relationships with dealers and complete trades.

Compensation
  • Base: $250,000 - $325,000/year depending on position level and experience
  • Gainshare annual cash incentive payment up to 110% - 180% (depending on position level) of your eligible earnings based on company performance and experience
  • Participation in our restricted stock units plan


Benefits
  • 401(k) with dollar-for-dollar company match up to 6%
  • Medical, dental& vision, including free preventative care
  • Wellness & mental health programs
  • Health care flexible spending accounts, health savings accounts, & life insurance
  • Paid time off, including volunteer time off
  • Paid & unpaid sick leave where applicable, as well as short & long-term disability
  • Parental & family leave; military leave & pay
  • Diverse, inclusive & welcoming culture with Employee Resource Groups
  • Career development & tuition assistance


For ideas about how you might be able to protect yourself from job scams, visit our scam-awareness page at https://careers.progressive.com/pages/how-we-hire-faq-job-scams/

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About The Progressive Corporation

Progressive is a place where innovation and collaboration are a way of life. Each of our employees has a role in our success and together, we continue to find new and better ways to satisfy our customers and move the insurance industry forward.

The Progressive Corporation Careers

Join the vibrant team at The Progressive Corporation, a leader in the insurance industry, and propel your career to new heights with a company known for innovation, leadership, and a commitment to diversity and growth.

Work You’ll Do

At The Progressive Corporation, we offer more than just job opportunities; we provide a platform for professional development and personal growth. As part of our team, you will contribute to transformative projects that redefine the standards of the insurance industry. Our collaborative culture ensures that every team member has the opportunity to make a significant impact.

Empower Your Career

Step into a role that challenges and excites you. At Progressive, you can navigate through a variety of career paths with the support of our extensive training and development programs. From leadership training to diversity workshops, we equip our professionals with the tools they need to excel.

Innovate with Us

Join a group of forward-thinkers who are constantly driving innovation in the insurance sector. At Progressive, your skills in technology, industry expertise, and digital innovation will help shape solutions that meet the evolving needs of our customers.

Internship Programs

Kickstart your career with The Progressive Corporation’s internship programs. Gain invaluable experience, build your resume, and develop professional networking connections that will benefit your career for years to come. Our internships offer a deep dive into the insurance industry, providing a robust foundation for future success.

Benefits and Culture

Choose a career with The Progressive Corporation and enjoy a wealth of benefits that go beyond the basics. Our inclusive culture supports our employees’ life stages and fosters a workplace where everyone can thrive. Health, wellness, financial planning, and work-life balance are just the beginning of what we offer.

Join Our Team

Explore the numerous positions available at Progressive, from entry-level to executive, and find where your expertise can make the most impact. We are continuously hiring talented individuals who are passionate about making a difference and ready to contribute to our culture of continuous improvement.

Stay Connected

Keep up to date with the latest at Progressive: - **Career Insights**: Get insider perspectives and industry-leading insights through our careers blog. - **Job Alert Emails**: Customize your subscription to receive job alerts and news tailored to your preferences. Discover the exciting and rewarding opportunities that await at The Progressive Corporation.

Explore Job Opportunities

Search open positions that match your skills and interests. We look for curious, creative, and solution-driven team players who are eager to drive progress and thrive in a dynamic environment.

SEARCH PROGRESSIVE JOBS

At The Progressive Corporation, your career is what you make of it. Grow, innovate, and lead with us as we redefine the future of insurance. Join us and be part of a team that values diversity, innovation, and the professional growth of its members.
Learn more about The Progressive Corporation
Size
49,000 employees
Market Cap
$75.6 billion
Industry
Net Income
$5.7 billion
Founded
1937
5 Year Trend
+15.3%
Revenue
$42.6 billion
NASDAQ

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