I have always been wondering, what are the job placements for masters (finance, economics) and PhDs (economics) in ER?
It is widely known that banks recruit a very small amount of masters into IBD (or don't) and people almost never heard of PhDs getting into IBD. What about equity research then?
Once I was networking with a guy at a Canadian EB, he told me that ER actually prefers people who hold higher degrees. Is that true? What master programs would you recommend for Equity Research?
Thank you for your insights.
There are some, particularly in the more STEMy sector coverage teams; healthcare, tech etc. For the most part the overwhelming majority will have MBA's, or no grad degree at all. Healthcare seems to get a lot of MD/Ph.D. types covering biotech and pharma, and that is true on both the buyside and the sellside.
Generally I would not use a ph.d. as a track to get into one of these roles, since there is not an established recruiting pipeline. Much more common for Ph.d. and master's ppl to go into consulting.
Does PhD in business (non-finance tho) have a chance in ER? (Originally Posted: 10/20/2009)
Hi guys,
I'm currently a Ph.D. candidate in business (non-finance) at a public state university. I do not major in finance but I'm using a lot of finance methodologies (risk model, event studies, etc) in my dissertation. So I guess it's safe to say I'm, at least, familiar with all those concepts and models. Before joining my phd program, I had a couple of years experience in project management/IT service with IBM. Now I'm really interested in covering IT/telecom/internet industries and feel like that ER might be a good career for me.
So I am just wondering if I have a chance in getting a position in ER given my background? Or ER does not consider people with this kinda background and I don't even need to bother to apply? If you think I might have a chance, could you please give some tips on how to approach these positions. I really appreciate it.
Thanks,
POPO
You probably won't get into ER just on account of your background, but if you've done well and have reasonable quantitative/writing skills, a bank may still take you. After all, there are plenty of non-finance PhDs at banks, and there are plenty of non-PhDs in ER.
http://abnormally-distributed.blogspot.com/
Thank you for replying and I do appreciate it. Is there any specific suggestions for me to break into ER? I know it's gonna be tough but I feel I should give it a try.
As for my quant/writing skills, I have had a publication in a good journal covering a certain software market (qualitative paper) and two pure research papers (highly quantitative) under review. I don't know if it counts when they evaluate my application. Any thoughts?
I know my school does not fall into the target schools category but, research-wise, my program is actually quite strong. My Ph.D./Undergraduate GPAs are also not bad.
Again, thank you for all the help!
yes... getting into ER isn't too hard, and many PM's advise ppl to do some ER to get to know the sector they are covering.
Hi Kraken,
Thanks for the post. I appreciate it!
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