Institutional Equity Sales

Where can a role like this lead? Are you pretty much stuck if you take a job like this?

Not really sure where it can lead. I know the institutional equity salespeople within my firm know hardly anything about any of the companies they are pushing.

not like a broker, i am assuming there is not a lot of coldcalling involved?

It depends. You probably wouldn’t be coldcalling random buyside institutions but rather calling your current clients and maintaining relationships. Then you’re calling them up whenever you have an “actionable idea” from the analysts or you want to invite them to a company’s marketing presentation/meetings. The compensation to work ratio seems high from what I’ve seen them do.

Ratio sounds great to me! Sign me up

If I had any inclination or ability to be in sales then I would be.

> Where can a role like this lead? Sales person -> manager of sales person -> manager of that manager -> etc. > Are you pretty much stuck if you take a job like this? No, but you might get stuck in sales in general if you do it for a long time. If that’s what you want to do, then it’s not necessarily bad.

Would you just be boozing clients up in this type of job? Would the CFA be helpful? What would the comp be? Assuming mid level (~200-400k?)

CFA would be very helpful. and keep in mind they are not hiring people off the streets… most come up working under someone… comp can be very good if you work for a good firm

A good sales guy is usually a good analyst too. One that can justify the calls he makes and ruffle through the bullshit the analyst sometimes writes (they have to please the IB guys by writing favourable reports too). Idea generation is key and you need to be able to look out for the benefit of your clients (investment mandates, current portfolio allocations etc) and for the frim/traders (what positions they have and what price did they stick their necks out on). Tricky balancing act. Apparently if your consistency is above 50% (more right calls than wrong) you should be fine. However, I’m not in the industry and am only stating what has been told to me from sales guys I have had informational meetings with.

MBA > CFA for sales.

Hello Mister Walrus Wrote: ------------------------------------------------------- > Big b00bs > MBA > CFA for sales. I fixed your post.

Agree with above. I know an institutional equity sales woman that makes bank because she speaks well, keeps up with clients, and is very attractive. Let’s face it: old, bald men like to feel youthful again.

^ Agree. There’s a whole chapter devoted to this in the book “Traders, Guns, and Money”.

NYCAnalyst86 Wrote: ------------------------------------------------------- > ^ Agree. > > There’s a whole chapter devoted to this in the > book “Traders, Guns, and Money”. What was the most interesting book? The above or The Practical guide to Wall street (equities and derivatives)?

I haven’t read the Practical Guide to Wall Street. I skimmed over it for 45 seconds at Barnes and Noble and it seems interesting. To me, Traders, Guns, and Money is more of a narrative - it is like Liar’s Poker. In contrast, the Practical Guide to Wall Street is more like an encyclopedia - it is like if Wall Street had it’s own Wikipedia, this would be it. So in conclusion, Traders, Guns, and Money would be very interesting reading material on the commute to/from work, while The Practical Guide to Wall Street seems like it would serve as an excellent desk reference.

storko Wrote: ------------------------------------------------------- > Where can a role like this lead? It really depends on the role and the firm. CFA is definitely helpful, probably more so than average MBA (I don’t see to many top MBA in this department…they would probably advertise it) since it’s standardized and you can put it after your name without looking like a douche. I know a guy who was a SS sales person. He was pretty young at the time and is generally a likable guy, so he built some really good relationships with a lot of PMs. One of them took a chance and gave him a junior analyst job, and now after about four years he is a full analyst and the product is owning. Of course, you could also like sales and stick with that. Career is what you make it. Get out there and win.