Hi all,
I've lurked the forums for some time and am just now starting to post. I've worked in Equity Research for about 5 years - 2 years at a BB and 3 years at MM. I'm starting to get the itch to move on to something else, and thought this forum might spark some inspiration.
If anyone has any questions on equity research or finance in general, feel free to shoot me a message!
Something else as in analyst or buy side?
Welcome.
Actually looking into making a jump to corporate, but finding that it's pretty hard to do. The jobs I've seen are mainly looking for ibankers and not EQR guys, even though I'd argue that we have comparable relevant experience (albeit with less deal experience). It's frustrating that the perception is not quite the same.
From what I've heard speaking with recruiters/people in industry, its hard to make the move unless you are willing to take a cut in pay & position. Even then, you'll need a good story/reasons to why you are willing to take these cuts without it coming across as a negative for the firm. To them, they will see an expensive 1st year analyst
Can you tell us the insider's guide to your industry? What are you trying to exit to on the corporate side? What is the best part about equity research? How did you break in and what is your background?
How might I use a MAcc from a top school to get an EQR position? What should I learn/read/take classes in?
Thanks in advance.
Sorry guys, just now seeing questions that were asked about a year ago... if anyone is still alive, I'd be happy to answer any questions!
Did you end up changing your career path? where are you now?
maybe you can try strategy consulting for your focus industry and then make the jump from there to in house strategy or Corp Dev?
Yeah so I'm now in corporate strategy at a F500 company...
Meh. It's obviously a huge change from finance. Much slower, very conservative culture. Just the nature of the company. Compensation is roughly the same, and my hours are much better. At the same time, I'm missing equity research a little, I have to admit. Was intellectually more stimulating, in my opinion.
Grass is always greener.... If you don't mind me asking, what level did you come into at the f500? Was there a significant comp decrease? Also, did you consider AM/HF before delving into the Corp strat role?
Yup...
Weird title structure. I'm about as junior as you can come into on the strategy team, but that ends up being somewhere in the middle at the company as a whole. Comp ends up being roughly similar; more salary, less bonus (with taxes helping to offset some of the gap).
I had hit my ceiling as an associate in EQR, whereas my pay is at least getting a slight increase each year in CS (absent any promotion). I knew I didn't want to become a senior analyst in EQR, so that capped my pay and my motivation.
I definitely considered AM/HF, but decided against it. The lifestyle is pretty different and I didn't want to be a slave to the markets. Was that a good move? Can't really say...
I've tried to stay in touch with my roots by writing for Yahoo Finance and providing financial models on my site. If I ever want to go back to EQR, I'm pretty confident that I could (the industry heavily favors people with prior experience, as you would expect)... I assume if I want to go to the buyside, I would have to go that route.
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