What is the order of ER levels? I understand there are Associate, Junior, and Senior analysts, but I am confused whether Associate comes before Junior, or vice-versa.
If I've just completed my undergrad, would I be seeking an Associate position, then move up to Junior, then Senior?
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From my understanding, as an incoming ER Analyst at a BB, the hierarchy is the same structure Analyst, Associate, VP, ED, MD. Now going in straight out of undergrad, you will be classified as a Junior Analyst. And usually when you get coverage of stocks (Sr. Analyst), you can be as low as an Associate.
Can't attest to BB but most shops around me have entry level positions as Research Associates, then you move up to Junior Analyst, then Senior Analyst.
The VP, MD, and ED titles are still used, but in an ancillary nature. I could be the Sr Analyst on the Industials team, but my title could also be VP or Partner, to show how long I've been with the firm.
I believe some of the disparity comes from the bank owned shops where you'll have a department title, but then the overall Bank's HR has a different set of titles they give to people.
Interesting. I'm currently an Equity Research Associate at my school's finance and investment group, and I love the work and research involved.
What do those abbreviations (VP, MD, ED) stand for? Vice President? Managing Director?
Oh well... Vice President Managing Director Executive Director
This is wrong. The entry-level hierarchy is flipped from IB, such that it goes:
Associate Senior Associate / Junior Analyst (title varies by firm) Analyst Senior Analyst (some firms also add niceties such as "VP" or "Director") Managing Director / Partner
There are all sorts of variations on this, but the point is that Associate is an entry level role while Analyst is a major step up. Analysts usually have 4+ years experience and/or a MBA.
Thanks for the clarification
Associate -> Sr. Associate -> Junior Analyst (VP) -> Senior Analyst (Director/MD)
And regarding salary, it can go from:
This is base (excluding bonus): 75-95 -> 100-150 -> 150-175 -> 200+
Bonus is usually 20%-30% in the lower positions...really no ceiling for the upper ranks depending on how much of a stud you are...
Where do the bonuses come from? What type of work do I have to do to get bonuses?
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