Comp among sell-side industry groups

Little difference at the lower levels from what I've seen (among research groups and even across the front office positions) especially at the large banks. However, there are outliers like working for an analyst or group that is consistently top ranked.

I don't know much about analyst comp and work in O&G ER myself.

i would think the trading volume and volatility in O&G would cause pay to significantly outpace other groups. I know some about analyst comp, PM me if interested.

The more trading volume you bring to the desk, the more you will get compensated. Management access is also key. If you're in with Steve Jobs and have him on speed dial, people will pay you a lot for that.

Your comp will depend on a) overall comp at your firm b) how well regarded your group is within your firm - a combination of client/salesforce recognition and how crucial your sector is to the firm's banking franchise (no you can no longer get paid for the deals but being in a critical area still matters)

The only industry/sector that I know for sure pays above average is healthcare. Some analyst positions require years of industry experience or PhD/MD titles. I don't know how that trickles down to associates. For that same reason, I'd also be somewhat leery of becoming a healthcare associate because promotion would seem more difficult and less likely.

Conversely, I've heard that consumer/retail is the worst paying. Again, this probably only pertains to the analyst. Also, this is anecdotal so I can't back up these claims.