Structures vary from firm to firm, and responsibilities will vary from group to group. At my boutique shop the setup is a senior analyst and 1 or 2 associates for each group. Theres no analyst > associate > senior analyst setup. Here the associates do all of the modeling and as they get more knowledgeable about the sector will do more of the writing too. I know of some other shops where the senior analyst is very hands on with the models, some where the seniors never look at the models.

 

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