I want to be an equity researcher, where do I start?

So my experience is rather limited. I have only 4 months of relateable experience in the finance industry - jr FX trader/sales. I did pass level one CFA, and doing CSC now. But I know both those things are like “meh, so what” to have, so I was wondering where the f*** do I start my job search. Who do you work as before you become an equity researcher?

equity research “analyst”. if you walk into an interview and say researcher, you’ll get a blank look and then the guy’s next thought would be “veto”.

Haha yeah, that could happen. I read on the CSI website to do equity analysis you do something like a few years in equity research? Is this true? Maybe depending on the position, some people will go to analysis right away and research later if they choose to switch? It’s all very confusing

It’s confusing because there is no clear cut path. Many go from college to ER, many go to industry then ER, many go from equities investments to ER.

What you should know is that it’s a highly competitive area to get into, and it only keeps getting harder, because on the whole, it is a shrinking field. So people let go tend to look for another ER role, and someone with actual experience almost always wins against a new person.

If you’re still inside a bank, start with internal postings. You can also go to every major bulge-bracket’s website and search. At the same time use your school database or LinkedIn to search for alumni who work currently work in those firms, email them and politely ask if you could have their time to ask a few questions about their company. They don’t have to be in research. Your goal is to make them like you enough so they will pass your resume along to the right people. If you got a couple of years of work experience then you can always go back to a top bschool and recruit from there.

I did an interview with MergersAndInquisitions.com two years ago about this very subject. You’ll probably find this article informative:


For what it’s worth, I began my career in equity research and joined the industry out of college. But there are many other ways to get there and in my view, the things that matter most are having a great stock pitch, networking your way in strategically, and just being lucky. Obviously having relevant experience, a great undergraduate degree/MBA, and other things do help but you have to focus on what’s in your control. Many people who don’t come from pedigreed backgrounds still find a way to get into equity research, though it’s substantially harder these days as some others here have pointed out given that Wall Street as a whole is contracting.


Great site, I am definitely going through it all now and taking all the tips I can get. Thanks, numi