Can someone shed light on this role with the following in mind: 1) Someone who is pursuing their CFA designation, but has no “analytical” experience per se, would this be pretty much the only role available if he wanted to break into this field 2) Would this role be compromised mainly at first of administration type duties and only somewhat on actually analyzing companies etc. 3) would this role teach the fundamentals needed to become a senior analyst and eventaully an associate pm? Any other insight would be greatly appreciated.
The progression is Research Assistant (not all have this) - admin Research Associate - updating of models for 2-3 analyst, not as much analystic work in year 1, some anayltical work in year 2-3 (Junior) Equity Analyst - small coverage space, usually after obtaning either CFA and/or MBA Senoir Analyst - worked in the space for 5-7 years Jr. PM - no too different from senoir analyst but does more protfolio construction PM - self explanatory Hope this step guide helps.
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Buddha… Thanks for the response I thought you would have to be Junior Equity Analyst before Research Associate??
I think that someone w/ no analytical experience would find it very tough (if not impossible) to get a jr. analyst role. W/out that experience I’d aim for portfolio/research assistant. OR try to start out on the sell-side and move into buy-side… OR start in another role (client service, ops, etc) at a small shop and network your a$$ off w/ the analysts and then try to move internally - I think this option would only be viable at a small shop such as a hedge fund.
I see Buddha mentioned Research assistant, I wonder if there are any shops that offer “Analyst Trainee” positions, under the junior analyst position. I’m a level 3 candidate who has been working for about 4 years since university, and I cant believe I will have to go and now do admin work for a year or so to break into this field. I didnt know it was this tough. Do you think it’s worth it or is 27 years old too old?
The titles in this business are pretty arbitrary and vary widely. For example, Research Assistant is not always admin. It depends on the firm. You can pretty much bet that if you are the lowest person on the team, you will be doing admin work and any projects that no one else wants to do, though. For example, some Bulge firms have Research Assistants, which is entry level (at least this is what I have been told during interviews). If you have 2-3 years of experience, you are more likely to come in as an Associate. After that, you might be a Senior Associate and maybe get your own coverage (Analyst) at some point after that. Don’t worry about the title – focus on the experience.
Bromion, So would you say, someone starting out would benefit more from starting off at a boutique since in addition to the admin, there is more of a chance to get feet wet in varioous other projects opposed to a very structured larger firm>?
I think the small vs. large firm is irrelevant to your development and the amount of unexciting work you are asked to do. What really matters is your manager – if he supports you and wants to mentor you, you will benefit. If he doesn’t, you could be at Goldman Sachs and have a worse experience than someone at some scrub boutique. Unfortunately, it’s really hard to tell how you will be treated until you actually accept the job and start. The best you can do is make sure that you are clear on expectations and that you have a good feeling about the people who will control your destiny. The key is to make sure your firm wants you to move up at some point and continue to progress – if they really only want someone to do the admin work, you are in trouble, because they will never support your moving up.
IH8FSA Wrote: > I didnt know it was this tough. Do you think it’s > worth it or is 27 years old too old? I’m 36, quiting a job as a IT manager, going back to school full time this fall and working on getting the charter, and I think it’s worth it. If you’re questioning it now and your career has just started it’s probably not worth it for you.
buddha Wrote: ------------------------------------------------------- > The progression is > > Research Assistant (not all have this) - admin > Research Associate - updating of models for 2-3 > analyst, not as much analystic work in year 1, > some anayltical work in year 2-3 > (Junior) Equity Analyst - small coverage space, > usually after obtaning either CFA and/or MBA > Senoir Analyst - worked in the space for 5-7 > years > Jr. PM - no too different from senoir analyst but > does more protfolio construction > PM - self explanatory > > Hope this step guide helps. Thanks buddha. Curious, do you know roughly what the salary would be at each of these levels? For me, I’m going to be graduating this year and would like to break into equity/investment research, so it looks like I should aim for a research assistant/associate role, but just wanted to see if you or anyone else could provide an estimate for salary ranges. I’m sure it varies due to various factors (buy side vs. sell side, size of the firm, location, etc.), but again, just wondering.
kp824 Wrote: ------------------------------------------------------- > buddha Wrote: > -------------------------------------------------- > ----- > > The progression is > > > > Research Assistant (not all have this) - admin > > Research Associate - updating of models for 2-3 > > analyst, not as much analystic work in year 1, > > some anayltical work in year 2-3 > > (Junior) Equity Analyst - small coverage space, > > usually after obtaning either CFA and/or MBA > > Senoir Analyst - worked in the space for 5-7 > > years > > Jr. PM - no too different from senoir analyst > but > > does more protfolio construction > > PM - self explanatory > > > > Hope this step guide helps. > > Thanks buddha. > > Curious, do you know roughly what the salary would > be at each of these levels? > > For me, I’m going to be graduating this year and > would like to break into equity/investment > research, so it looks like I should aim for a > research assistant/associate role, but just wanted > to see if you or anyone else could provide an > estimate for salary ranges. I’m sure it varies due > to various factors (buy side vs. sell side, size > of the firm, location, etc.), but again, just > wondering. Salary vary widely depending on AUM, and type of investment. I will give you salary assuming you are at a mid range asset manager: Research assistant - dont know this for sure but I would guess 45-50 minimal bonus Research associate - 55-65 maybe 15 in bonus Jr. Anayst (range is bigger dependent on Work experience, CFA, MBA- 75–120 with 40-60 in bonus Senior Analyst 150-200 with 2xbonus potential PM 300 with 3x bonus potential *Note: All of these vary depending on firm. And for the last two roles they are more of a guess and word of mouth.
buddha Wrote: > > Salary vary widely depending on AUM, and type of > investment. I will give you salary assuming you > are at a mid range asset manager: > > Research assistant - dont know this for sure but I > would guess 45-50 minimal bonus > Research associate - 55-65 maybe 15 in bonus > Jr. Anayst (range is bigger dependent on Work > experience, CFA, MBA- 75–120 with 40-60 in bonus > Senior Analyst 150-200 with 2xbonus potential > PM 300 with 3x bonus potential > > *Note: All of these vary depending on firm. And > for the last two roles they are more of a guess > and word of mouth. Thanks buddha! I think for an entry level position out of undergrad, a range of ~50-70k is pretty good (of course getting the job in this market is easier said than done!). I know that ibanking analysts get paid more, but I think the hours are a big turn off. Typically, how are the hours in research?
Thanks for all the input guys. Starting back as a research assistant will be a relaly big paycut for me. I have to seriously consider if it’s the right step to make.
kp824 Wrote: ------------------------------------------------------- > buddha Wrote: > > > > Salary vary widely depending on AUM, and type > of > > investment. I will give you salary assuming > you > > are at a mid range asset manager: > > > > Research assistant - dont know this for sure but > I > > would guess 45-50 minimal bonus > > Research associate - 55-65 maybe 15 in bonus > > Jr. Anayst (range is bigger dependent on Work > > experience, CFA, MBA- 75–120 with 40-60 in > bonus > > Senior Analyst 150-200 with 2xbonus potential > > PM 300 with 3x bonus potential > > > > *Note: All of these vary depending on firm. > And > > for the last two roles they are more of a guess > > and word of mouth. > > Thanks buddha! > > I think for an entry level position out of > undergrad, a range of ~50-70k is pretty good (of > course getting the job in this market is easier > said than done!). I know that ibanking analysts > get paid more, but I think the hours are a big > turn off. Typically, how are the hours in > research? This is an extremely difficult question. As an associate I worked from 8 until 6, and during earnings season weekends and stayed a few hours late and a few hours early. Meanwhile I had friends who started off the same as me came to work at 9 went home at 5:30 year round and never really put in the extra effort. 2 years later I was promoted to jr analyst and they were still associates. (although there were promoted 1-2 yr later) So you have to answer this question yourself…
buddha Wrote: > > This is an extremely difficult question. As an > associate I worked from 8 until 6, and during > earnings season weekends and stayed a few hours > late and a few hours early. Meanwhile I had > friends who started off the same as me came to > work at 9 went home at 5:30 year round and never > really put in the extra effort. 2 years later I > was promoted to jr analyst and they were still > associates. > (although there were promoted 1-2 yr later) > > So you have to answer this question yourself… Hmmm. Interesting. I think I’d put in the extra effort in hopes of being promoted sooner. It’s just that always hearing about the 80-100 hours/week in ibanking is something I wouldn’t be able to deal with. The way you described research, seems more manageable on average and something I could handle. I have a couple other questions about this field, and I made a thread directed towards the poster “numi”, but would really appreciate your insight in my thread. Here is the link - http://www.analystforum.com/phorums/read.php?1,819430 Thanks again for the insight, it’s very appreciated.