Equity Research Analyst (NO UNDERGRAD) --> IBD?
Hello, Hope you're all well. Looking for some advice here as a pre-university student.
I'm looking at next steps, and it appears to me that there's a basic entry-level role for an Equity Research Analyst at a BB that I can apply to. My main goal would be going through to a field like M&A, though; this is something I feel I would enjoy more and be better suited to. I enjoy the client-facing aspect & the fact that I could also move into M&A consultancy from here.
I'm just wondering the feasibility of going from a equity research analyst, into this role & trying to move into something like M&A without the leverage of a degree.
The positive is, is that this role involves shadowing of the analyst positions in sales or similar - which I guess would be the port of call I would be using to leverage into a Front Office role.
If I'm wrong, I apologise - I would greatly appreciate any corrections - and any advice in general regarding this situation as I feel a bit lost.
is the ER position something akin to an apprenticeship? i.e. 3 year program leading to a "graduate" role in ER?
if so, yes ER -> M&A is perfectly doable without a degree
Hey, no it isn't. But, I'd assume if I do well on the first portion of the course I would be able to hold down my position as an apprentice for that length, at least. Does this change anything?
Going to outline a risk for you. A lot of electronic applications have auto-dings in place. Not a guarantee, but a solid chance for positions that traditionally require a degree that you will get auto-dinged if you don’t list a degree. Not a guarantee, but consider this a risk in your plan.
Great point. I'm wondering - maybe I ask for one to be sponsored (later down the line, if I landed this)? It's one of my personal goals to get an MBA too. Which I'll definitely need a degree for (to do an MBA at a top university).
Trust me there is no BB in London where you're gonna be a legit ER analyst without a degree.
I'm gonna go out on a limb and guess this is the MS ER apprenticeship scheme. It is *NOT* ER.
What is it, in this case?
I won't talk much more about specifics but trust me, it is not FO ER. It is a support role. There is no route to ER or M&A or whatever.
If you want to work in ER or M&A, go to uni. Finance is not yet in a place (and might not ever be) where it is accepting of those who have not done their time in further education.
ER is front office
Sorry, I worded poorly. I meant moving from ER + no degree into the M&A field.
Like what another user has said, this is not a proper ER role, it sounds like a back office apprenticeship. Go to university if you ever want to work in IBD
Thanks for this.
I got it. Thanks for the help!
Not a single ER department at a bank (BB or not) would take a person without a college degree. So what ever ER apprenticeship program you’re referring to is most likely not the ER position that we know of.
Hey, I was referring to Morgan Stanley's programme. It's level 4. They run one with a worldwide apprenticeship provider.
Thanks for the input, won't progress it.
Any way to differentiate roles of a front-office and a back-office/mid-office role?
It mentioned support of the sales team which I'd presume. Apart from that it was to do with processing broker votes, or something similar - which sounded a bit more mid-back office work now I think of it.
I know exactly what this is as these apprentices work in my dept. It is quite simply a support role on collating broker votes, assisting on the admin for webcasts/expert calls we host and scheduling for marketing trips the lead analysts make. Please note, it is not a front office revenue generating role and you will not be an equity research analyst.
There is 0% chance any remotely reputable shop would ever take someone w/out a bachelor's degree
Hello, Thanks for the input. It's been helpful to understand more senior people's understanding on this. I'm very new to this.
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