ER is Paradise
I wanted to give my take on how I’m finding ER right out of grad school (hard science). I should also mention that I’m at a bank with primarily a healthcare focus:
1) coming from a PhD, comp is good out of the gate
2) maybe it’s being at a non-BB, but I have a ton of autonomy and my analyst is very well regarded in my industry (biotech) and work/life balance is great (of course, this varies from analyst to analyst)
3) I learn a crap ton and no one day is the same
4) I interact with buyside/C-suites all the time and have built very strong relationships with many folks being this early in the game
5) At my shop, we aren’t throat fed companies by banking so I have yet to work on a garbage company
Whether your end goal is Analyst, buyside, industry, etc., I can’t find many bad things to say about starting off your career in ER! I could be lucky with my shop/team, but my friends on other healthcare teams (non-BB) around the Street agree.
Same, I decided to go the ER route at a boutique, and my experience is the exact opposite of what is spat on this website. I work with a top 3 II-ranked analyst, great WLB compared to IB/PE, and contrary to popular belief, the MMs, SMs, and LOs that actually make money and generate alpha prefer ER associates over bankers and PE. Have seen people from my shop exit to activists, crossovers doing both public and privates, MMs, top SMs, and top LOs, many of which WSO said would be impossible. If a student was interested in a career in the public markets, I wouldn't recommend doing IB or PE at all. The work is significantly more interesting and our client base and corporates actually care and reads our teams research.
Completely agree. At least in my sector, buyside prefers ER over IB >90% of the time. I mean, it makes complete sense; why wouldn’t you take the individual with direct public markets experience?
Ngl I’ve always wondered about the massive masturbation towards IB/PE. Most of the most successful people I know in the HF world were Ex-S&T or Ex-ER. This is just my anecdotal experience.
Best kept secret
So you’re at Leerink clearly…
Could be. Why’s that matter at all? Your comment is useless bud
He was prob joking, but it obviously matters because you will have wildly different experiences depending on banks and even analysts within the same firm, BUD.
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