Q&A New Mentor | Senior Buyside Analyst – Equity Research, Healthcare Coverage & Breaking into the Buyside

Hey WSO,

Introducing myself as a new mentor on the platform. Happy to answer any questions in this thread and give a sense of what I can help with.

Background

I'm a senior investment analyst at a large institutional fund covering healthcare. My day-to-day involves deep-dive fundamental research, building investment theses, IR meetings with company management, and working with sell-side brokers across the coverage universe. I've been doing this long enough to know what genuinely separates candidates who break in from those who don't.

What I Can Help With

  • Breaking into equity research — what the job actually looks like, how to position yourself, what interviewers are really testing for
  • Buyside careers — the difference between sell-side ER and buyside research, how to make the jump, what funds look for
  • Healthcare sector — navigating a notoriously technical and complex sector, how to build conviction on names, how to talk about it credibly in interviews
  • Resume reviews — I screen candidates as part of my actual job, so I know what stands out and what gets ignored
  • Mock interviews — stock pitches, investment thesis walkthroughs, behaviorals

Who I'm Best For

Anyone targeting equity research or buyside roles — whether you're a student trying to break in, a sell-sider looking to make the jump, or someone pivoting into healthcare coverage specifically. If that's you, drop your questions below or reach out directly through my profile.

Ask me anything.

8 Comments
 

Based on the most helpful WSO content, here are some key takeaways and advice that align with the expertise of a senior buyside analyst in equity research, particularly in healthcare coverage:

Breaking into Equity Research and Buyside Careers

  1. Networking is Critical: The buy-side has low turnover, and networking is often the key to breaking in. Use platforms like LinkedIn effectively and build a consistent personal brand. Keep track of your connections using tools like spreadsheets.
  2. Know the Sector: For healthcare, which is highly technical, demonstrate a strong understanding of the sector. This includes knowing the fund’s strategy, positions, and being able to talk credibly about the space.
  3. Stock Pitches: Rehearse concise, impactful stock pitches. Buy-siders value the ability to distill complex ideas into a clear, two-minute pitch. Time yourself and refine your delivery.
  4. Resume and Storytelling: Your resume should highlight relevant deal experience, technical skills, and sector knowledge. Be prepared to tell a compelling two-minute story about your background and career trajectory.

What Interviewers Look For

  • Core Competencies: Interviewers assess your ability to get to the essence of an investment thesis or stock pitch. Avoid rambling and focus on clarity.
  • Alignment with Fund Philosophy: While perfect alignment isn’t necessary, ensure the fund’s investment philosophy doesn’t conflict with your core principles.
  • Sector Expertise: For healthcare, demonstrate conviction and technical understanding. This is especially important for a sector as complex as healthcare.

Healthcare Sector Insights

  • Building Conviction: Deep-dive fundamental research and staying updated on sector trends are essential. Engage with sell-side brokers and company management to refine your insights.
  • Credibility in Interviews: Be prepared to discuss healthcare-specific challenges and opportunities. Highlight your ability to navigate the technical aspects of the sector.

Additional Tips

  • Mock Interviews: Practice behavioral questions, stock pitches, and investment thesis walkthroughs. This preparation can significantly improve your confidence and performance.
  • Recruiter Relationships: Build relationships with recruiters, especially if you’re targeting short-term-minded funds or specific roles.

If you’re targeting equity research or buyside roles, particularly in healthcare, focus on these strategies to stand out. Let me know if you have specific questions or need further guidance!

Sources: Q&A and Yet Another Post On How To Break Into The Buy-side, Q&A and Yet Another Post On How To Break Into The Buy-side, Breaking into buy-side equity research - my experience

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

Hi, I'm interested in targeting ER, particularly healthcare. I'd love to learn more about it, but I can't seem to message you directly. If you don't mind, could you start a message? Much appreciated! 

 

Hi, I was also hoping to ask for some direct advice. I’m currently an MBBS (MD) student aiming to target roles in Equity Research in the next application cycle, and I would really value any guidance on how best to position and showcase my previous experiences to secure a London Summer Internship and/or graduate role. 

Also, please could you start a message with me so I may ask some as I can't through here either. Thank you :)

 
Most Helpful

Short answer - no it doesn't. Most ER analysts covering healthcare don't have an MD or PhD (from what I've seen). What matters is your ability to translate the science into an investment thesis - firms care far more about your analytical process and stock picking instincts than your academic credentials.

That said, where it does matter is at the margin. If you're going up against someone with identical finance experience but they have an MD, some specialist healthcare funds will lean their way. 

 

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