Does initial sector matter?
Hey WallStreetOasis,
I hope you're doing well! I was wondering whether the sector that you're in for your first equity research job matters long term. For example, if I start out as an Equity Researcher for Aerospace & Defense would I be pigeonholed into that sector for the remainder of my career? Or, could I pivot to say a healthcare HF with relative "ease"?
Thanks
Hey v74UR9xyit885, I think you deserve a response...heck, everyone does. We're listening, sorry about the delay ...my best guess at places on WSO that could help:
More suggestions...
Fingers crossed that one of those helps you.
Thanks Monkey Bot. Have a good day!
A&D to Healthcare with "ease" is very unlikely, although possible. A more likely change would be to any other industrial sector or overlapping either in terms of product (up and down the supply chain) or business model. So sector does matter, but I wouldn't say you will be completely pigeonholed, especially initially (first 2-4 years).
Thanks IPAs and IPOs; I really appreciate the response! Is it alright with you if I respond to this post in the future to ask additional questions? Thanks again and have a great Labor Day!
Sure
I posed a similar question to More Leverage below but are there any Equity Research sectors that you think have mass appeal? Thanks IPAs and IPOs
Tech, Healthcare and Consumers are the popular and "hot" sectors. If you start in healthcare likely to stay in healthcare (insurance could shift to financials, but biotech etc... is unique and unlikely to translate as easily to any other sectors), Consumers could reasonably shift to TMT/industrials and tech would likely stay in tech, (M&T of TMT likely could shift into industrials/consumers). In general, first 2-4 years most switches are possible as you are still learning the fundamentals, once you hit VP and up unlikely to shift all that significantly (lots of sub-vertical switches to start coverage, but unlikely to see big industry swaps).
I think certain sectors can pigeonhole quickly. Financials is an example because those businesses have very different drivers and P&L. Great if you end up liking it but less flexible if you want to switch it up.
Hey More Leverage! Thanks for the response. What sector would you recommend for an individual that knows they want to do equity research but isn't sure what sector they want to go in? In your opinion, is there a sector that has mass appeal? Thanks again and have a good day
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