Help progressing to ER

I currently hold a position as an Equity Data Analyst with over a year of experience at a leading vendor firm in London. I specialise in Industrials and I am actively engaged in analyzing sell-sideEquity Research (ER) broker models, maintaining consensus estimates and conducting in-house industry and company research. However, due to the nature of our business, we refrain from providing specific buy/sell recommendations, making it challenging to showcase direct returns on investment.

I want (badly) to transition to banking (ER) and eventually progress through market connections into Investment Banking (IB) or Private Equity(PE). As such, I am actively pursuing opportunities in both ER and IB analyst positions. l acknowledge the current challenges in the market, which gives me some comfort for not having progressed already. Nevertheless, I am very frustrated as my job applications always go unanswered, even for initial interviews. Despite putting substantial effort into my applications, the lack of response has been disheartening.

Observing some colleagues successfully moving into prominent positions within big banks in IB, ER, or PE makes me feel worse.
While I understand that experiences differ, and not everyone follows the same trajectory, the apparent lack of progress has prompted me to seek advice on improving my approach. I am more than willing to share my CV upon request.

 

Ah, the classic tale of an Equity Data Analyst looking to swing from the data vines into the bustling jungle of Equity Research and Investment Banking! Here's some actionable advice to help you make that leap:

  1. Polish Your CV: Make sure your CV is tailored to highlight the skills that ER and IB roles demand. This includes:

    • Quantitative Skills: Emphasize your experience with sell-side broker models and consensus estimates.
    • Research Acumen: Showcase your in-house industry and company research, even if it doesn't include buy/sell recommendations.
    • Transferable Skills: Highlight any analytical work that can demonstrate your ability to evaluate investments.
  2. Network, Network, Network:

    • Leverage Existing Connections: Reach out to those colleagues who've made the transition. Ask for advice, or better yet, a referral.
    • Industry Events: Attend finance or investment banking events to meet people in the industry.
    • Alumni Networks: Utilize your university's alumni network to connect with professionals in ER and IB.
  3. Showcase Your Passion:

    • Personal Projects: Engage in personal investment projects or write investment theses to demonstrate your interest and analytical abilities.
    • Online Presence: Start a finance blog or contribute to investment forums to get your name and thoughts out there.
  4. Educate Yourself:

    • WSO Courses: Consider enrolling in Wall Street Oasis courses related to Investment Banking Prep to sharpen your skills and add some firepower to your CV.
    • Certifications: CFA or other relevant certifications can bolster your credibility.
  5. Follow Up:

    • Persistence: After submitting applications, don't hesitate to follow up. A polite email reiterating your interest can go a long way.
  6. Prepare for Interviews:

    • Mock Interviews: Practice common ER and IB interview questions. Wall Street Oasis has a plethora of resources and interview guides that can help.
    • Technical Skills: Brush up on financial modeling and valuation techniques.
  7. Consider a Stepping Stone:

    • Internal Transition: If possible, look for opportunities within your current firm that are closer to ER or IB.
    • Smaller Firms: Apply to smaller banks or boutiques where the competition might be less fierce, and the experience just as valuable.

Remember, the finance jungle is dense and sometimes a bit dark, but with the right strategy, you can certainly find your way to the clearing. Keep swinging, and don't lose heart – your persistence will pay off! If you'd like to share your CV for a more tailored critique, feel free to swing it my way.

Sources: Q&A: Barclays IB to MM Private Equity, Q&A: From State School to IBD to MM PE, From Private Equity Associate to VP in Private Equity, Breakdown of Post-IB Exit Opportunities, Equity research transition to banking

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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