Yadig - 3yrs exp in ER but really dont want to be in a major city. From small town and I'd like to move back home within the next year or 2. I really fw my analyst but sadly my bank is strict with remote work. Have heard an anecdote or 2 of associates lateraling into a remote ER role if hiring MD was also remote. Was wondering if others have seen this, any banks that its more common, or generally at what point in an ER career does wfh become more acceptable?
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Navigating the landscape of remote work in Equity Research (ER) can indeed present a unique set of challenges, especially given the traditional emphasis on being physically present in major financial hubs. However, the shift towards more flexible work arrangements, accelerated by recent global events, has begun to change perceptions and policies around remote work in many sectors, including finance. Here's what you need to know based on insights from the WSO community:
Remote Work Prevalence in ER: While traditionally ER roles have required a presence in major cities, there's a growing acceptance of remote work. This trend has been accelerated by the global shift towards remote work arrangements across many industries. However, it's still more of an exception than the norm in many traditional banks.
Lateral Moves to Remote Positions: There are anecdotes within the WSO community about associates managing to secure remote ER roles, particularly when the hiring Managing Director (MD) is also working remotely. This suggests that while not widespread, there are indeed opportunities for remote work within ER, especially if you can connect with the right people who are open to or already working in a remote setup.
Banks with Remote Work Policies: Specific banks that are more open to remote work aren't typically listed, as policies can vary widely even within the same institution and depend heavily on the team's leadership. However, smaller firms, boutiques, and companies with a more modern or flexible work culture may be more open to remote ER roles.
Career Stage for Remote Work: As for when remote work becomes more acceptable in an ER career, it often depends on your level of experience, the trust you've built with your team, and your ability to work independently. With three years of experience, you're approaching a level where remote work could become more feasible, especially if you've demonstrated strong performance and the ability to work effectively without constant supervision.
Actionable Advice: - Network Within the Industry: Start by networking with professionals in ER who are working remotely or have knowledge of remote opportunities. The WSO community can be a great place to start. - Highlight Your Independence: In discussions with potential employers, emphasize your ability to work independently and your track record of delivering high-quality work without direct supervision. - Consider Boutique Firms: Smaller firms or boutiques may offer more flexibility in terms of remote work. Research and reach out to these firms to inquire about potential opportunities. - Be Open to Compromise: You might find roles that offer a hybrid model as a stepping stone towards full remote work. This could be a viable path to eventually moving back to your hometown while maintaining your career in ER.
Remember, the landscape is evolving, and with the right approach, finding a remote role in ER is becoming increasingly feasible.
Sources: Where does ER go from here?, 3 Key Tips for Getting an ER Interview, Q&A: ER Analyst at Top BB (Plus About ER & General Advice), WFH Should be the Default in IB, Do I hate ER as a job or my boss?
Really a case by case basis.
Case by case. If you're a senior you could probably do whatever you want. Some seniors don't care about where their juniors work but the firm may have stricter policies they cannot override.
Josh Schimmer is out of LA. Doubt cantor has an LA office. I think evercores biotech analyst is out of Charlotte (doubt they got an office)
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Very rare
Depends on analyst in my experience. We have teams that are in every day and then teams that are in once a quarter
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