Hello all,
I'm currently in the process of moving to sell side research, and am wondering if the space is under threat of the overall economic downturn that is projected to come. Is there any worry to have, especially surrounding layoffs that may affect the most recent to join members, or maybe even rescinded offers? Curious to hear the thoughts of people who are currently on the sell side, as the sentiment a month or two ago is that sell side research is actually having issues hiring at junior levels.
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Feels like still hiring but the environment is softening both due to the market downturn and the reduced turnover (associates leaving for other jobs). So I’d expect future openings to continue reducing for the near term.
I mean I avoid being too optimistic but based on my observation, all the associates and senior analysts at my firm have been here since 2010. And they are not leaving any time soon. Sell-side equity research could be more recession-proof than most people might think. During a bull market, no one bothers to read SS ER reports because "every stock is going up". Now stocks are back to their fair valuations and quality research has become more important than ever. I think M&A and Equity Capital Market will be the most impacted sectors within high finance.
People have been saying that ER will die one day back when MiFID II was announced. The only thing happened was slightly reduced pay and that's about it. In a market downturn, a good research report is worth a lot more.
That's just my hot take.
Hm what happened right before 2010?
It is a boutique firm. So people moved to MM/BB
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