Hi, when thinking of investment research, what pops to your mind at first are equity and credit research. but what is it actually like working as an economic analyst at a BB? I mean, equity analysts advise portfolio managers and indirectly generate revenue by urging them to trade. and they help pricing the ecm team when a company goes public. so I do understand how equity research adds value and brings in business. but how exactly does an economic analyst earn money for the bank?
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Economic analysts bring in plenty of buy-side business. PMs/other buy-siders are very interested in global, country-specific, regional, and sector macro forecasts. Helps guide where to allocate money on a high level.
thank you. so do they meet up with asset managers similar to what equity analysts do? and do salary and working hours differ significantly from equity research? what qualification is required? a bachelor's degree in economics or an advanced degree in economics (talking about economic analysts. I know that equity research is very diverse).
Yes, they market their research via phone and in person to the buy-side just like ER. Some funds will be way more interested in talking to economists than others. I only worked on the buy-side but I do know a guy who's in economic research right out of school. At his level it seems like less work than ER and not a very comparable skillset/exit ops to ER. He said a lot of economics analysts (or whatever they call them right out of UG) end up jumping to FX or rates strategy/research. After a few years of being in economics research out of UG you are required to go get an advanced economics degree (sorry I forget which one) to move up to a full economist.
ok thank you, that was quite helpful. strategy is like "internal research", right?
do you happen to know a good source of what it is like being an economic analyst? you can often find blogs like "a day in the life of a..." and then equity analyst, investment banker, trader, etc. is there a similar thing for economic analyst? or does anyone here work in economic analysis at a BB? id be really interested in learning more on this job/ career path.
thank you
It's going to be hard to find such a post, and here's why. Say at a firm there are 30 different MD-level research analysts. 1 of them is going to be broad economic strokes (maybe two, one for europe and one for the US) and 28 or 29 of them are going to be sector-specific stocks. So across the US, there may only be 30-50 economic analyst teams (wild-ass guess). Versus probably thousands of equity research sector teams in the US. Just a guess, but the point is that there are loads less economic research teams in broker dealers.
yea, thats a good point, im afraid youre right
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