Hi Guys,
I am joining a top BB's ER division fulltime and we have to go through the matching process when we start training in June. I am planning to reach out to Analysts in the groups I am interested in the meantime.
I am hoping for some advice on teams. For the record, I don't want a career in ER, I want to learn about how to understand businesses and ultimate values companies, with the ultimate aim to be an investor/run my own shop one day. I realize I will have to make a jump to the buyside (let's not go back in the banking vs. ER thing) before I will be to really master anything investing wise, but ER is where I am starting for better or worse and I am looking for advice on good sectors to develop a broad and useful skill set. I don't care about immediate exit opps- megafund etc- I just want to get the skills to kill it one day.
Thanks boys.
If you have alumni/contacts at your BB, reach out to them. Ask them who are the best analysts to work for. You want a well regarded analyst, but more importantly somebody who will help develop your skills.
Fit matters a lot more in ER than IB - in IB, most groups are pretty similar. You have a mix of good and bad. In ER, you will be working with your analyst (or a senior research associate) 90%+ of the time.
Thanks to both of you for the help. Yes I definitely want to find an analyst that will help me develop my skills. In regards to this I have a question- how important is it to get on the phone with clients ASAP? My instinct is that speaking to people is the way you get your name out there, but my firm is a little vague on how quickly you get to do that....
Especially if you come right out of undergrad, it will be months (maybe over a year) before you start talking to clients beyond answering simple requests (e.g. "send me your model"). Your clients are buyside analysts (usually specializing in your sector), and they will not bother asking sellside ER questions that could be answered by an entry level employee.
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