It seems as if many people try to strive to get into iBanking or sales and trading. Not many people I have met really strive to get a job in Equity Research. Does this open up more jobs / is it easier to get a job than in iBanking or S&T?? Thanks.
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While I can't answer your question directly, I can say this - when I interned in ER, a lot of analysts/associates were looking at PE or IB exit ops. There were a few ex-IBD analysts (BB and MM) and a lot of MBAs from top-10. Not as many CFAs.
hmmm okay interesting thanks.
ER is very tough as well to get a job
I would love a job in ER, it's very very competitive.
I think we can all agree that getting a job in finance, outside of BO, is very, very, competitive.
One reason for that, I think, is that IBD has a much more structured hiring process and hires big classes of undergrads every year. ER isn't like that (well it may be at the BB level, but def. not as big as IBD). In ER you see a lot more people coming in with experience either in finance or in industry, its a lot more uncommon for someone to come in straight out of undergrad.
So, most people are using ER as a jump off point - what about people that actually like and want to do ER? Would you take a guess at a rough estimate of what percent of ER folk actually want to be there longer term?
ER trumps IBD
Rjroberts hit the nail on the head. It's a less structured recruiting process and there aren't big entering classes. Also, it seems that the teams are much smaller so you're hoping one of the two or three associates working for a specific analyst leaves and you get their spot. Finding out that there's a spot in the first place seems to be the hardest part.
you better me a god at modelling if you want the slightest shot at ER
Second mopman. Also keep in mind that fit is a huge issue beyond basic competencies in analysis & modeling, and different senior analysts value different things. Some of them prefer a junior/associate who can "model like a god". Others think the super-complex models are a waste of time since it's all predicated on the accuracy of your assumptions and prefer someone who's able to consume a lot of data and parse out what supports their particular thesis. If you didn't seem to click in the interview with the team/senior, it's not likely you'll be hired.
As frustrating as it might be, so much of it comes down to blind luck.
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