Life on the Buy-Side

Hey Guys, can anyone who knows the space give some color on the following questions. Please say if your speaking based on New York/Chicago etc. or more Regional. Also, looking for answers specifically for mutual funds and hedge funds that buy securities, no private equity/venture cap.
1. What is the structure in terms of positions, do you begin as a jr. analyst? (new york vs. other)
2. What are hours like at the jr. level & sr. level? (new york vs. other)

Thanks guys...

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Best Response

My current fund structure consists of PM, senior analysts and junior analysts. Junior analysts do most of the bitch work within the space (earnings calls/set ups, models, assisting their senior analyst in generating ideas etc.) I only attend IPO luncheons, analyst days or industry conferences if my senior analyst is double booked or it is my name. I would say your time will be split 60/40 between generating new ideas and working on names in the portfolio already. My fund hours are pretty laid back 8-6 non earnings season, 8-7:30ish during earnings but expect to attend dinners and conferences at night, once or twice a week. Junior and senior analysts usually work the same hours in the office. Most of the senior guys bring work with them on the train etc. My fund is NYC Based. PM if you have any other questions.

 

My firm is also structured PM>Senior Analyst>Jr Analyst. The hours are not bad, typically 8-6. Each analyst covers a certain sector or security type. The structure of the team really depends on the PM. At my firm, each team is structured a bit differently in terms of how ideas are pitched, how often the team meets, how much final say the PM has, etc. You would be surprised how much power is given to analysts in some teams. Then again, my firm has analysts who are in their 40s that are just as smart as the PM, the only difference being that the analysts like the job security and don't feel like making the jump to PM by leaving the firm.

There are a lot of dynamics and every firm/team is different.

 

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