Equity Research to ?

I’ve spent 2 years in Quant Research and 2 years in Fundamental Research in a sector that I don’t really care much for - all at Lehman (now BarCap). It’s not where I see myself after a year. I have no intention of being the lead analyst in the sector. I’m afraid if I don’t get out soon, I will be stuck. At the same time, with the job market in the dumps and bonuses (or what’s left of it) around the corner, I figure its best to stick around for a few more months and fight it out. I’ve been wanting to move to Asia as well, but they’ve got their own problems. In any case, I’m bored with my sector. Very bored. I’m considering the following as my next career steps: 1. Buy-Side Analyst - I would like to be a generalist and not follow a specific sector, much like what I did on the Quant side. 2. Wealth Management Research - I’d like to advise clients on various investment products and strategies. 3. Private Banking - Better lifestyle, but no experience in this area. Given my experience and L3 candidacy, I’m sure I’d be a good candidate for some of these roles. But I’m not sure how to make that transition. Anyone out there who’s gone from the dull life of sell-side research to other, more exciting roles, please chime in… I’m interested to know what you did and how you did it. Pimp

Applied for buyside jobs on the CFA website using no connections after a couple of years on the sellside. Got a few interviews in my chosen location, received two offers. The vast majority of sell-siders go to the buyside, almost all of my old coworkers are on the buyside, it will be tough in this environment but I think most equity shops prefer to hire sell-siders over investment bankers so you should be able to find something, be patient. In the last few months I’ve seen senior analysts send blast emails asking if anyone will hire their Associate. Most buyside shops are small and don’t have HR so the interview process can take almost a year at some shops, if you get your bonus in a few months you should start applying for jobs now.

pimp Wrote: ------------------------------------------------------- > Anyone > out there who’s gone from the dull life of > sell-side research to other, > > why is it dull?

pimp Wrote: ------------------------------------------------------- > Anyone > out there who’s gone from the dull life of > sell-side research to other, > > why is it dull?

It really depends what type of work excites you. If it’s managing relationships, then wealth management or private wealth might be your calling; however, if you like the analytical aspects of the job, consider going to a buy-side analyst role. I agree that your best bet is to stick out your job long enough to get your bonus, but if there are good job opportunities at the moment, do not hesitate to interview for them. Your bonus this year will probably be immaterial compared to the satisfaction you’d get in a good buy-side gig. Note that while I agree that your work experience and L3 candidacy could make you a good candidate for some of those roles…there are hundreds of others right now that have better qualifications. If I were you, I’d get out there and start looking ASAP. You are right on the money when you say that the more time you spend on the sell-side, the harder it will be for you to get hired into a traditional buy-side role. Finally, I totally understand your situation about being “bored” – I was pretty bored for the last six months on the sell-side. I gained no new knowledge from a functional standpoint, and every day was just a real grind.

How did you break into PE? I might do an internal transfer to the investment management side at BarCap since they bought that business as well. numi Wrote: ------------------------------------------------------- > It really depends what type of work excites you. > If it’s managing relationships, then wealth > management or private wealth might be your > calling; however, if you like the analytical > aspects of the job, consider going to a buy-side > analyst role. I agree that your best bet is to > stick out your job long enough to get your bonus, > but if there are good job opportunities at the > moment, do not hesitate to interview for them. > Your bonus this year will probably be immaterial > compared to the satisfaction you’d get in a good > buy-side gig. > > Note that while I agree that your work experience > and L3 candidacy could make you a good candidate > for some of those roles…there are hundreds of > others right now that have better qualifications. > If I were you, I’d get out there and start looking > ASAP. You are right on the money when you say that > the more time you spend on the sell-side, the > harder it will be for you to get hired into a > traditional buy-side role. > > Finally, I totally understand your situation about > being “bored” – I was pretty bored for the last > six months on the sell-side. I gained no new > knowledge from a functional standpoint, and every > day was just a real grind.

I just went through typical recruiting avenues like headhunters, alumni, etc.

Not to hijack your thread, but what did you do in Quant Research? thx,

P.S. pimp, I think if you have the opportunity to move to the transactional side or do any type of principal investing, you should definitely go for it. It will really open up your perspectives on finance, and since you already have the public investing experience, you can really round yourself out by going to the deal side. It’ll be pretty different from what you’re used to doing and the lifestyle may not be that good, but you still sound relatively early in your career path and deal experience can only help. That being said, you’ve also put in enough time to get a good buy-side role on the public equity side too, so definitely consider all options there. My thought is that you seem to enjoy the analytical and technical nature of things, which is why I see you more on the transaction or analysis side, rather than doing something like wealth management.