Hi all, I'm working in pricing at the moment. I have gotten an offer for Equity research at a MM bank, paying around the same as my actuarial job, but much more hours. I'm wondering if anyone here has made the same transition and if they have any insights or, are very happy with the transition or wish they didn't?
| +81 | Q&A - Buyside Equity Research Analyst/PM | 29 | 3d | |
| +32 | How the heck do you learn all of this stuff? | 5 | 1w | |
| +28 | My experience on the sell side | 20 | 2w | |
| +28 | Getting Frustrated | 10 | 3w | |
| +22 | Clues in Financial Reporting Analysis | 6 | 10h | |
| +18 | Biotech ER vs IB | 16 | 3w | |
| +17 | Am i fairly compensated? | 9 | 21h | |
| +14 | Data Science to PM | 8 | 6d | |
| +14 | Heard they don’t model at Oppenheimer | 10 | 2w | |
| +12 | Why is MM ER comp so bad? | 6 | 4w |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Figure out your end goal and solve it backwards. Why did you go for equity research in the first place?
I was thinking equity research is much more fun, higher earning potential and it would be cool to open up my own fund / become PM one day.
However I've read some negative things about ER such as it's shrinking, there's a low turnover rate so hard to progress, and it's 'too many people changing too few dollars'.
Oh equity research is much more fun for sure, compared to actuary (used to be one, I was near-ASA without modules). High earning potential true too, but it's worse work life balance. If you want to open up your own fund / become PM, equity research is definitely a good mid-way job.
ER shrinking is not a variant view for a while, but at its current state, how much smaller can it? It's definitely hard to progress to senior analyst (with coverage), so most leave by that stage.
Thank you for the insights! I'm wondering what was your path to asset management, did you go straight to AM ER after actuary?
No, I did my MBA and then was on the sell-side and then went to the buy-side.
Thanks man, just wondering, was breaking into buy side hard and why did you want to leave sell side?
I'm actually far less qualified than you btw - I'm 2 years out of undergrad at the moment and not close to getting my ASA. I work in P&C pricing.
I never wanted to be on the sell-side. My goal pre-MBA was to get to buy-side eventually.
Breaking into buy-side is hard. I have written an article on it, take a look. All my articles about breaking into sell-side is there too.
I was trying to relate to you by sharing my near-ASA status. Whether you are FSA or FCAS doesn't matter, it can help in getting you an interview covering insurance stocks, but you know best how hard those exams are.
Earum dolorem porro iure earum amet occaecati eum qui. Modi eveniet sit qui ea aut sequi consequuntur. Quaerat et ut qui officia voluptatem rerum. Molestiae enim distinctio placeat quia alias ut quia. Sapiente necessitatibus ipsam quas sint.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...