Bloomberg ER vs BB ER
Hi everyone, considering a move from IB to ER and wondering how Bloomberg ER compares to BB ER groups.
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Would try and focus on doing ER at a bank before taking a role at BBG. Have only been a user of their research on the sell-side and haven’t been that impressed by it - kinda makes sense as it’s all given away to anyone with a terminal. ER at a bank will develop a different skillset which is probably what you’re after.
As someone above said, 100% take the BB ER role if you have the choice -- the experience at BBG will not be the same and will not open the same doors as the BB.
Appreciate it. Can you elaborate though? Just want to understand
I'll make it simple in economic terms: Bloomberg equity research is given away for free to anyone who owns a Bloomberg subscription, and the quality of BBG research isn't a determining factor on whether to pay for a Bloomberg for 99% of the customer base. In comparison, Hedge funds/LO's/etc all have to specifically negotiate (relatively) large fee structures with whichever BBs whose research they want to use, and pay hefty interaction fees for the amount they consume on top. That makes the quality of BB research far more important for driving revenues (PLUS synergies like driving more trading + IB revenues to your bank from having reputable analysts which are arguably even more important than direct revenues) than for BBG (where incremental revenues from incremental research quality are close to zero). You can make your own inference on what that means for pay/training/recruiting/exit ops at each.
(caveat: I have never met anyone in BBG equity research and have no idea how it actually works -- I'm just deducing based off what I can see)
Definitely BB
Will be joining soon at BBG Research. It's considered a great springboard into other opportunities for SS research at BBs etc. The most common exits are SS ER, corp strategy, and very occasionally buy-side shops - though that is largely dependent on your coverage group. Base comp is solid but is a bit below what's offered on the street. You get no bonus but you do get overtime so all-in comp is pretty good, but again not as good as what you'll get at a BB.
As mentioned above, the quality of BBG's research is good but its not going to be the same as a BB's ER as BBG does not give ratings. That said, they do plenty of modeling and sector/industry/company commentary. A lot of BBG Intelligence analysts were former ER people at BBs. Hope this helps.
This is great thanks so much
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