Currently 7 months in ER and have realized that I do want to be a career banker. I picked ER ONLY for the highest amount of Exit opps (and my love for public markets).
MD told me that Equity Sales and ECM make more (especially bonus). Hence, I'm looking to change into either ECM or Sales. Now I do have a few questions:
Who makes more ECM or Sales?
When should I make the switch? (In my firm all but one equity sales MD's have been in research for at least 3 - 6 years, hence I think that 2-3 years of research experience seems nice for the sales switch. But I don't know about ECM, apparently not many ECM MD are former research analysts??)
How do I make the switch to ECM or sales? (Do I just ask HR, should I ask my MD/Head of Research?)
How much do senior ECM people work? (I know with juniors at my firm its closer to 60h)
Thanks for your help!
I mean obviously not many ECM MDs are former research analysts. ER to sales is a very natural move and on the same side of the markets/bank. Not that many people go from ER -> IBD because I think the roles are very different.
Both are doable and as soon as possible tbh. The less time you spend learning a less optimal skillset, the better
No offense but you're also in your first year of ER. If you do some research on this page there are various people who talk about ECM seniors who started off in research. In fact I know two people from my team who moved. (One to CS another one to HL) with 4 and 6 years of experience. In my current firm there is a MD who spent his first year in research.
No offense but please quote where I said anything that disagrees with what you just said.
I’m literally in the same boat as you rn, dm me!
Why pm and not here?
Equity sales is probably a more natural route to take given the skillset and knowledge of stock fundamentals and how to communicate ideas to investors. But ECM definitely gets paid more unless you're a superstar in sales and get to cover the largest accounts. As one poster said above, both are doable.
How much can you make in equity sales?
ECM vs cash equity sales? at most banks on the senior end, ECM
if you realise you don't want to do ER, then as soon as possible
network. HR/MD only if you have a very good relationship with them... but realise that from this point onwards, they will not see you as a promotion prospect... just dead weight
at my bank, marignally less than juniors
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