Hey guys, Rarely post here, but I would like to hear out on what kind of offer I should expect to receive for a Research Assistant pay up here in Canada at one of the top 3 major banks (sell side). It is an entry level position, as their roles are the following : Research Assistant --> Associate --> Analyst. They were requiring a Finance Bachelors, and Im on my way for Level II in June 2008. Also, they said overtime would be paid out (and I will be expected to put in additional hours). A ballpark figure would help me out, I have no idea what to expect and don’t want to sound stupid when they ask me about it. Thanks
Anyone ?
Assistant would be around 65K plus bonus.
Thanks Seems higher than I first thought, which is good to know
I’m not in the Canada but I thought it would be around 45k. Top bank and CFAI 50-55k?
Well, I’m going on what actual RAs told me they were making.
Turkish Wrote: ------------------------------------------------------- > Well, I’m going on what actual RAs told me they > were making. It’s cool, you’re prob right- mine are just ballpark numbers from what I’ve seen looking for that job myself a few months back.
55K + bonus.
We don’t have research assistants, unless by that you mean first year out of undergrad. They are technically analysts (in that they are part of the investment banking analyst program) but are called associates. Pay is $60k USD + YE bonus in line with I-banking (which meant an average of around 115% last year). People here are either research analysts (senior coverage) or research associates (whether they are out of undergrad or MBA).
This is a position for a straight out of the undergrad
no way its 65k
Frank, I always trust your opinion, so I called my recently promoted Research Associate friend…it’s 60K. My bad.
frank was referring to research assistants
What shop has research assistants? I know people in all the major shops and I’ve never heard of them having any (that is, Associate is the top grunt). Is it something quasi-ER, like quantitative research or something?
FrankArabia Wrote: ------------------------------------------------------- > no way its 65k 55-65k base is inline with what an analyst on the sell side would make right out of undergrad even in vancouver…probably higher in calgary.
Aerius Wrote: ------------------------------------------------------- > What shop has research assistants? > > I know people in all the major shops and I’ve > never heard of them having any (that is, Associate > is the top grunt). Is it something quasi-ER, like > quantitative research or something? That is what I am curious about. There is no such thing as a research assistant at my shop or other shops I (think I) know pretty well. I’ve heard the term, but never heard a person referred to as one. Maybe its an up north thing.
We have one. They’re there for admin stuff. Given how busy it can get, totally helps to have one book flights, hotels, check conference rooms, help scheduling etc. Roles actually depends from group to group, and some assistants help out with associate work and even get promoted to associate level. I work for a BB and other BBs have this structure.
hobbes928 Wrote: ------------------------------------------------------- > We have one. They’re there for admin stuff. Given > how busy it can get, totally helps to have one > book flights, hotels, check conference rooms, help > scheduling etc. > > Roles actually depends from group to group, and > some assistants help out with associate work and > even get promoted to associate level. > > I work for a BB and other BBs have this structure. oh thats different from what i thought. id say anywhere between 38-55k base…but they dont regard those jobs as entry level and it would be difficult to get into a more cfa orientated role.
The position I am enquiring about requires a Bachelors in Finance, the candidate is required to do the CFA exams while being employed, and will definetly be given financial tasks (because there was a mini-test in the interview process about ratios, compounding growth, summarizing a quarterly update of a company’s financials, etc). It is aimed to train new candidates to move up to an associate position within usually 2 years.
titles vary widely. we have assistants at my firm, but they do “analyst” type work (modeling, meeting with companies, etc.). the receptionist does all the scheduling, etc. associate is a post-grad level position for CFAs (at least passed level 2) or MBAs. above that is VP (coverage analyst), but you don’t get that unless you have experience (just an MBA won’t do it). this is for a small firm, so it may not be standard. anyway, don’t worry about the title so much as what you will be expected to do (be very clear about this before going in).