Equity Research out of MBA
Hi everyone,
I was recently accepted to the MBA program at Stern and am considering equity research as a post MBA path. I have a passion for markets, and while I am not so keen on the idea of focusing on one sector, I recognize that ER positions are a viable path to future opportunities in investment management, hedge funds, and the broader investment community. I would ideally like to get in somewhere covering maybe an energy sector since the research would have macro implications. Anyway, I was wondering what to expect in terms of real opportunities and what roles would be available to someone in my position (assume very little applicable valuation experience so far). I'm curious what an MBA candidate's job would be going into ER versus someone coming out of undergrad.
Thanks
Most investment banks will
Most investment banks will interview at NYU for an equity research associate position. I can assure you that you are in very good shape to get an ER job, but keep in mind that given the current state of the equity markets there will only be 1 or 2 spots available for NYU students at a given research department.
As far as the difference between an analyst and an associate, the big difference is that you are a bigger investment for the firm and you are getting paid more so you are expected to be more mature. An analyst is there at first to input the data and do some very basic modeling and writing, with very little thinking value add insight expected in the first year or two. You would be expected to be more mature, more independent and have decent writing, molding skills + understanding of the markets, strategy.... etc basically the skills of an MBA. You will also be expected to interact with companies and clients a lot sooner. Most research departments view MBA's as potential senior analysts, while analysts are more "disposable". The fact of the mater is that there are some excellent analysts, but MBAs are treated as being long term hires and will be treated better by HR and management.
In order to get the full time job you need to secure an internship which means that you have to start attending presentations and network from day 1. Because you are in NYC you will be expected to be proactive in reaching out to the firms and following up. Many people don't realize it, but recruiting starts day one of b-school. Banks take attendance at the presentations and closely track promising candidates.
there were like 10,000,000
there were like 10,000,000 stern mbas at my old shop. at my new shop we have a lot too. two of them on my team even.
ILOVENYGUY: Most investment
Most investment banks will interview at NYU for an equity research associate position. I can assure you that you are in very good shape to get an ER job, but keep in mind that given the current state of the equity markets there will only be 1 or 2 spots available for NYU students at a given research department.
As far as the difference between an analyst and an associate, the big difference is that you are a bigger investment for the firm and you are getting paid more so you are expected to be more mature. An analyst is there at first to input the data and do some very basic modeling and writing, with very little thinking value add insight expected in the first year or two. You would be expected to be more mature, more independent and have decent writing, molding skills + understanding of the markets, strategy.... etc basically the skills of an MBA. You will also be expected to interact with companies and clients a lot sooner. Most research departments view MBA's as potential senior analysts, while analysts are more "disposable". The fact of the mater is that there are some excellent analysts, but MBAs are treated as being long term hires and will be treated better by HR and management.
In order to get the full time job you need to secure an internship which means that you have to start attending presentations and network from day 1. Because you are in NYC you will be expected to be proactive in reaching out to the firms and following up. Many people don't realize it, but recruiting starts day one of b-school. Banks take attendance at the presentations and closely track promising candidates.
I think you reversed a few things.
In ER, Associates are at the bottom, and Analysts are at the top.
It should be:: An ASSOCIATE is there at first to input the data and do some very basic modeling and writing, with very little thinking value add insight expected in the first year or two.
ILOVENYGUY: Most investment
Most investment banks will interview at NYU for an equity research associate position. I can assure you that you are in very good shape to get an ER job, but keep in mind that given the current state of the equity markets there will only be 1 or 2 spots available for NYU students at a given research department.
As far as the difference between an analyst and an associate, the big difference is that you are a bigger investment for the firm and you are getting paid more so you are expected to be more mature. An analyst is there at first to input the data and do some very basic modeling and writing, with very little thinking value add insight expected in the first year or two. You would be expected to be more mature, more independent and have decent writing, molding skills + understanding of the markets, strategy.... etc basically the skills of an MBA. You will also be expected to interact with companies and clients a lot sooner. Most research departments view MBA's as potential senior analysts, while analysts are more "disposable". The fact of the mater is that there are some excellent analysts, but MBAs are treated as being long term hires and will be treated better by HR and management.
In order to get the full time job you need to secure an internship which means that you have to start attending presentations and network from day 1. Because you are in NYC you will be expected to be proactive in reaching out to the firms and following up. Many people don't realize it, but recruiting starts day one of b-school. Banks take attendance at the presentations and closely track promising candidates.
Another case of verbal diarrhea that has been plaguing WSO since 1928.
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
What about ER prospects for
What about ER prospects for candidates currently doing a Master's in Finance? I don't have relevant ER experience (worked in the BO at a BB before), and may try and see if I could get a part-time gig during the year to add to my experience in this area. Also, I have passed CFA Level I, and am re-taking Level II in 2013. Thanks!
Everything somebody from
Everything somebody from undergrad will be doing but you are expected to pick up coverage faster and start marketing within a year.
mhass33: Hi everyone, I was
Hi everyone,
I was recently accepted to the MBA program at Stern and am considering equity research as a post MBA path. I have a passion for markets, and while I am not so keen on the idea of focusing on one sector, I recognize that ER positions are a viable path to future opportunities in investment management, hedge funds, and the broader investment community. I would ideally like to get in somewhere covering maybe an energy sector since the research would have macro implications. Anyway, I was wondering what to expect in terms of real opportunities and what roles would be available to someone in my position (assume very little applicable valuation experience so far). I'm curious what an MBA candidate's job would be going into ER versus someone coming out of undergrad.
Thanks
MHASS - I am similarly starting my mba at CBS this year and would like an ER internship. Given we're not competing against each other, would love to compare notes, game plans, etc. at some point if you are seriously considering ER. Let me know if you're interested and we can connect through email.
thanks for all the replies
thanks for all the replies guys. I am definitely going to explore all my options as I do have other finance related interests, but will stay on the ball in regards to recruiting events and so forth. Jay - let's keep in touch, would love to chat and see how your process is going
Flake: ILOVENYGUY: Most
Most investment banks will interview at NYU for an equity research associate position. I can assure you that you are in very good shape to get an ER job, but keep in mind that given the current state of the equity markets there will only be 1 or 2 spots available for NYU students at a given research department.
As far as the difference between an analyst and an associate, the big difference is that you are a bigger investment for the firm and you are getting paid more so you are expected to be more mature. An analyst is there at first to input the data and do some very basic modeling and writing, with very little thinking value add insight expected in the first year or two. You would be expected to be more mature, more independent and have decent writing, molding skills + understanding of the markets, strategy.... etc basically the skills of an MBA. You will also be expected to interact with companies and clients a lot sooner. Most research departments view MBA's as potential senior analysts, while analysts are more "disposable". The fact of the mater is that there are some excellent analysts, but MBAs are treated as being long term hires and will be treated better by HR and management.
In order to get the full time job you need to secure an internship which means that you have to start attending presentations and network from day 1. Because you are in NYC you will be expected to be proactive in reaching out to the firms and following up. Many people don't realize it, but recruiting starts day one of b-school. Banks take attendance at the presentations and closely track promising candidates.
Another case of verbal diarrhea that has been plaguing WSO since 1928.
Flake, unlike you, I actually have input into hiring decisions at my firm... I know that you think that you are very clever, but the people who run the process actually put in the time and take it very seriously. I don't really care but year after year you see undergrads and MBAs making the same dumb mistakes that keep them from being hired and getting the offers
To the OP, I was in a pretty
To the OP, I was in a pretty similar circumstance to you but went to a totally unrecruited destination. Your job will likely be similar to an undergrad student coming out at first, but that's okay. Just put your head down and work hard, regardless of the opportunity. The passion is important to have and demonstrate, and regardless of what level of ER role you get into, it will be instrumental in helping you actually do your job better than others around you. You don't have to get to a specified position overnight -- hard work, studying, and honing your craft will get you there over time. Talk to as many people as you can and just keep persevering in seeking options.
ILOVENYGUY: Flake: ILOVEN
Most investment banks will interview at NYU for an equity research associate position. I can assure you that you are in very good shape to get an ER job, but keep in mind that given the current state of the equity markets there will only be 1 or 2 spots available for NYU students at a given research department.
As far as the difference between an analyst and an associate, the big difference is that you are a bigger investment for the firm and you are getting paid more so you are expected to be more mature. An analyst is there at first to input the data and do some very basic modeling and writing, with very little thinking value add insight expected in the first year or two. You would be expected to be more mature, more independent and have decent writing, molding skills + understanding of the markets, strategy.... etc basically the skills of an MBA. You will also be expected to interact with companies and clients a lot sooner. Most research departments view MBA's as potential senior analysts, while analysts are more "disposable". The fact of the mater is that there are some excellent analysts, but MBAs are treated as being long term hires and will be treated better by HR and management.
In order to get the full time job you need to secure an internship which means that you have to start attending presentations and network from day 1. Because you are in NYC you will be expected to be proactive in reaching out to the firms and following up. Many people don't realize it, but recruiting starts day one of b-school. Banks take attendance at the presentations and closely track promising candidates.
Another case of verbal diarrhea that has been plaguing WSO since 1928.
Flake, unlike you, I actually have input into hiring decisions at my firm... I know that you think that you are very clever, but the people who run the process actually put in the time and take it very seriously. I don't really care but year after year you see undergrads and MBAs making the same dumb mistakes that keep them from being hired and getting the offers
lol
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.