Research or IBD
If one wants to get the best valuation / modelling background and skills in analysing industries for a few years, before making a move to potentially a HF or PE style firm, which is better - equity research or IBD? From my view, research would be more detail oriented and, hence, better ... why would PE and HFs recruit mainly analysts from IBD - is it simply due to their deal execution experience or work ethic, what else? Any thoughts welcome. Thanks.
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Total votes: 110
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I don't think you know what
I don't think you know what research is... or banking for that matter.
Well, thanks for your
Well, thanks for your polite, insightful response!
I'm not sure there's much to say to that...
Depends
In the nutshell, bankers build transactional models, research guys forecast revenues and come up with stock recommendations. These are different skills. So for PE I'd say banking is better, for HF - depends on what this particular HF is doing. Merger Arbitrage - banking, long/short equities - research.
That being said, I've heard of people making the move from equity research to PE but this is rather unusual I think.