Sell-side Equity or Credit research. Which is better?

Hi everyone, 

I am considering moving from a buy-side IG credit research role to a sell-side research role. I am considering an equity research and a credit research role both at the same firm. Which role do you generally think is the more attractive job in terms of exit opportunities, general career trajectory, work/life balance, and pay?

I want to be more certain of my preference going into interviews. Also, my understanding is that credit might be a more stable/safe place to be since it is more insulated from the fee compression and passive investing forces in the sector right now. 

Thank you.

8 Comments
 

I can speak to the equity side and provide half of what you’re looking for.

Exit opportunities for sellside equity research associates are buyside equity research and corporate, though the latter might not be that attractive. If you stay on the sellside long enough to become an analyst, the corporate opportunities can improve.

As an associate, it’s probably around 60 hours a week, with spikes to 80 or so during earnings season. Depending on your analyst, you may or may not have to work weekends.

In terms of pay, there are some threads here on that so I won’t repeat.

In terms of the shrinking field, there’s some of that on the sellside. But it’s more a slow narrowing than anything. If you’re in with a solid firm, you should be fine especially if you’re already thinking about exit (not planning to spend decades on the sellside).

 

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