well if i get an offer I will post it on this forum.
base would probably be in the 80-100 range. depends which level of associate you are. all in, I would guess the range to be 120-160, depending on a host of factors. hours really depend on what your analyst expects. it really varies. in non-earnings, probably most people are gone by 6ish. and fridays you try to get out as soon as the bell hits. in earnings, you get murdered though.
i am completely okay with those hours as long as the salary is comensurate
honestly, given the hours, the pay is mediocre but the exit opps will problably be fabulous. 80k base to work 70 hours plus the stress of putting together graphs…hmmm. there are guys making 80k in risk management working 9-5 and occasionally 7-6 in a pretty laid back environment. i read a bunch of equity research reports and sometimes i feel bad for the guy that has to put it together. the work imo is by no means tough, just strenuous and time consuming. the forecast and price expectation is almost always an after thought and irrelevant. But competition for these jobs is very high which makes them even more attractive. I much rather work for half the salary but be the guy at the end using the research than putting it together. lets face it, equity analyst are basically the guy doing the grunt work for the end user. good luck.
Black Swan Wrote: ------------------------------------------------------- > Yeah, I have yet to meet someone in ER who doesn’t > have a top degree, so I wouldn’t use that as a > source of differentiation. What was your front > office experience? You’re being very vague about > it so I’m guessing sales. Plus if it was IB or > ER(the only ones that matter) you wouldn’t have to > be asking us this dumb question. As they said, > it’s a flood of people trying to get in so the > compensation is subject to supply & demand. As > you become a more experienced associate, they will > raise your pay. A top associate may make 200k in > NYC if they have a few firms of their own > coverage. At the analyst level, it’s a whole new > payscale. Anyhow, you should take a look at your > motives to do ER and how enthusiastically you want > this position. Those are typically the deciding > factors for picking from a pool of qualified > candidates. Oh, and I def agree with Numi. This is definitely on point – totally concur with what Black Swan says, and I can also confirm the salary numbers. Also, I remember that the original poster also asked about financial modeling books the other day. FYI, if you are interviewing for equity research and don’t know how to build a basic, fully-integrated three-statement financial model, then your skill set and qualifications are essentially entry level. I’d be surprised if you can get a job in equity research these days as an “experienced” hire if you don’t know how to work a financial model.
I change my mind. ER is cool. ignore previous post.
Why does everyone look to transition into the sell-side? It’s beyond me… You can make more money on the buy-side as an analyst… You don’t have to pander to PMs and buy-side analysts… You don’t have to fulfill requests from clients… You dont have ppl scrutinizing your models, estimates, etc You have broader coverage on the buy-side and only spend your time working on what you think will make the most money…
jbisback Wrote: ------------------------------------------------------- > Why does everyone look to transition into the > sell-side? It’s beyond me… > > You can make more money on the buy-side as an > analyst… > You don’t have to pander to PMs and buy-side > analysts… > You don’t have to fulfill requests from clients… > You dont have ppl scrutinizing your models, > estimates, etc > You have broader coverage on the buy-side and only > spend your time working on what you think will > make the most money… completely agree. I think buyside is way harder to get into though. I see sellside jobs posted regulary but buyside almost never. I think most people try to transition into the buyside from the sellside.
FrankArabia Wrote: ------------------------------------------------------- > jbisback Wrote: > -------------------------------------------------- > ----- > > Why does everyone look to transition into the > > sell-side? It’s beyond me… > > > > You can make more money on the buy-side as an > > analyst… > > You don’t have to pander to PMs and buy-side > > analysts… > > You don’t have to fulfill requests from > clients… > > You dont have ppl scrutinizing your models, > > estimates, etc > > You have broader coverage on the buy-side and > only > > spend your time working on what you think will > > make the most money… > > completely agree. I think buyside is way harder to > get into though. I see sellside jobs posted > regulary but buyside almost never. I think most > people try to transition into the buyside from the > sellside. Exactly…thought that was pretty obvious. Very difficult to jump from non-FO (IB, ER) job to buyside. ER is a great gateway to buyside.
What has better odds of getting you to the buyside (specifically hedge funds): ER or IB?
definitely ER imo. You’re basically providing the research materials that the buyside uses.
SS ER is a great way to publicly build your name brand = easier transition into buyside
jbisback Wrote: ------------------------------------------------------- > Why does everyone look to transition into the > sell-side? It’s beyond me… > > You can make more money on the buy-side as an > analyst… > You don’t have to pander to PMs and buy-side > analysts… > You don’t have to fulfill requests from clients… > You dont have ppl scrutinizing your models, > estimates, etc > You have broader coverage on the buy-side and only > spend your time working on what you think will > make the most money… This is true, and that’s why most people ultimately want to end up on the buy-side. However, there are very few people that get great buy-side jobs without prior sell-side experience, namely investment banking or equity research. The reason for this is because buy-side firms want someone that can hit the ground running, not someone they need to train. Sell-side is good experience because (1) you can develop a fundamental skill set in financial analysis, (2) you learn how to think about investing and managing relationships with people in different areas of finance, and (3) you build a rolodex of contacts with buy-siders and management teams. The last point is perhaps the most valuable aspect of the sell-side experience, because this business has as much to do with your ability to make money as it does with who you know and which companies you can gain access to. Through my experience on the sell-side, I gained contacts at pretty much all the major asset management firms, hedge funds, and the companies that I covered. Although I ultimately chose to pursue private equity instead of public equity investing, many of the people I met were not folks I would have rubbed elbows with had I not started out on the sell-side. For what it’s worth, I actually interned at a prominent asset management firm during my junior year of college, and just through my observation, the people that had the most access to companies and broker-dealers were ones that either had established a long track record on the buy-side alone, or had brought with them some of the relationships they had during a prior sell-side career. I know it’s a popular mantra that being on the buy-side is better than being on the sell-side, but there is a huge gamut of buy-side shops just as there are investment banks. Of course, if given the chance, we’d all want to go straight to the Fidelities and Wellingtons of the world instead of having to grind it out on the sell-side. However, most people would rather get the training and exposure to the better buy-side shops if that means spending 2-3 years of their life on the sell-side, than to work at some small firm with low salary and minimal upside just to say they’re on the buy-side. Plus, as much as people here complain about the life on the sell-side, there aren’t many other jobs where you can make six-figure gross income straight out of college. When the compensation, exposure and training are that good, it’s easy to understand why so many people want those sell-side jobs.
Here’s another type of “research assistant” – this listing just came out from Glocap yesterday. Any potential applicants here? $80K + bonus + benefits to be someone’s home assistant and help manage their estate’s gourmet chefs and limo drivers. However, 2-3 years of investment banking or consulting experience are required. Ruh roh! =============== 230002-2 Research Assistant in Home Office, Private Equity: Growth Equity Fund Successful Entrepreneur is seeking a Personal/Research Assistant for the home office. This position is 40% Personal Assistant and 60% Research/Project Assistant. This is an amazing opportunity for someone to gain exposure to a very entrepreneurial environment and be involved with interesting projects! RESPONSIBILITIES: - Manage personal travel arrangements for Executive and his wife - Maintain and oversee household staff (chef, drivers, etc.) - Help with Research projects on a daily basis - Help to manage day-to-day accounting as required by the office. Works with external accounting firm to ensure that accounting and banking-related tasks are handled in a timely and efficient manner. - Responsible for facilitating all meeting materials and business agendas for weekly Management Calls and other ad-hoc meetings, as needed. Distributes materials, takes notes, and performs detailed-follow ups. - Resolves and/or escalates issues in a timely fashion. - Understands how to communicate difficult/sensitive information tactfully. - Possesses general understanding in the areas of application programming, database and system design. - Complies with and helps to enforce standard policies and procedures within the business and estate. Qualifications: - 2-3 years in an investment banking analyst role or consulting firm - Must exude professionalism, maintain strong communication and showcase a polished demeanor. - Strong project management skills a must; ability to deliver despite stringent deadlines and manage simultaneous projects with little direction. - Have a superior strategic, diplomatic and mature minded approach to business - Advanced proficiency in all Microsoft Office programs. Must have previous experience in using Excel and PowerPoint and have knowledge of creating spreadsheets (w/ basic formulas), and story-lining a presentations deck from scratch. - Solid proficiency in using both MAC and PC’s. - Must be persuasive, proactive and extremely aggressive - Results Driven! - Excellent writing, editing, and proofreading skills. - Exceptional interpersonal and oral communication skills. Base- DOE- 60-80k, plus discretionary bonus and full benefits!
Probably one of the most unique job postings I’ve ever seen.
manage travel arrangements!!! must have IB banking experience…yea you need someone who can model LBOs to book a flight on expedia ! thats an insult…prepare to hold the pi$$ bucket
you might as well be a prostitute if you take this job.
No CFA required…cannot believe it.
So I had my interview today. Talked to the director or equity research for 1.5 hours straight about the industry I would be covering (which I also work in)…went very well talked about valuation, best companies in the sector etc… standard deal that they’re “interviewing other candidates” this week but he said I’ll call you Friday. walked away feeling great about it as I’ve been in other interviews where I was in and out in 20mins… I will keep the forum posted on salary if i get an offer
All the best!