thanks!!
you’re kidding right? sell-side analyst works for an Investment Bank or research firm. They sell their work product - research or provide it as part of the package the investment bank sells. Their research is generally considered biased because historically investment banks used them as a marketing tool - until 2001 when Spitzer forced them to create a “Chinese Wall” between ER and IB. Now they have become much more of a cost centre in IB. Conversely, buy-side analysts work on the “buy side” - for investment management firms, hedge funds, pensions, mutual funds, etc. Their research is generally kept internal and is used to decide which investments to make. They are generally less biased as the analysts are free to come to a buy/sell decision on their own. However, they are not generally well known because their research is not shared publicly. Sell-side analysts can become quite famous if their research is followed by many people. Their base salaries tend to be higher than buy-side, but buy-side analysts have the potential of equity ownership in their firms which (hopefully) equates to more money. One other main feature is work environment - Sell-siders generally work 7am-7pm+, buy-siders work better hours ie. 9-5ish so much better work-life balance… Hope that helps…