Does ER recruit out of undergrad/timeline
- People on here typically say that ER is typically an exit for people in accounting or industries of a similar nature but do ER offices commonly recruit out of undergrad?
- If so what’s the timeline like for that, I heard it’s less structured than IB, but what exactly does that mean?
Equity Research (ER) does recruit out of undergrad, but the process is less structured compared to Investment Banking (IB). Here's a breakdown based on the most helpful WSO content:
Recruitment Out of Undergrad:
Yes, ER offices do recruit undergraduates, though the volume of recruitment is generally smaller compared to IB. Many research associates in ER come directly from undergrad, especially for roles in sectors that don't necessarily require advanced degrees like MBAs or CFAs. However, there is also a significant number of ER professionals who transition from accounting or similar industries.
Timeline and Structure:
In summary, while ER does recruit undergraduates, the process is more flexible and less predictable than IB, requiring candidates to be more self-driven in their job search efforts.
Sources: https://www.wallstreetoasis.com/forum/equity-research/career-ladder-equity-research-vs-investment-banking-a-definitive-guide-part-3?customgpt=1, Career Ladder: Equity Research vs. Investment Banking - (A Definitive Guide, Part 3), Why are you still trying to break into equity research?, Exit-Ops: Equity Research vs. Investment Banking - (A Definitive Guide, Part 2), ER Career Paths
Bump
ER mainly hires out of undergrad
Good to know. Bonus question: How come whenever I look up salary progression for ER it always starts with associate and not analyst
Analysts generally publish research, associate are the juniors (externally).
Internally many banks still use the analyst, assoc, vp progression but externally, for licensing/publishing reasons its just associate/analyst.
So what is analyst comp actually like
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