I was motivated to make this thread after reading a lot of the other threads in this forum, about why certain top analysts are still on the sell-side. It appears that almost everyone who doesn't work on the buy-side or sell-side, or even a remotely close front office position fails to...
Remove this post. It is 5 years old, out of date and I keep getting messages about it! Thanks v. much
I'm probably one of the few people on here that has done both <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview"><abbr title="investment banking">IB</abbr> and <abbr title="equity...
***Please look at the bottom of the post before PM-ing me for materials. Summary: NYSSA IRC as a Stepping Stone in Getting a Job in <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview"><abbr title="equity...
See part 1 here: <a href="https://www.wallstreetoasis.com/forums/worklife-balance-equity-research-vs-investment-banking-a-definitive-guide-part-1">Work/Life Balance: <abbr title="equity research">ER</abbr> vs. <abbr title="investment...
Back when I was applying for <abbr title="equity research">ER</abbr> associate positions, I was really struggling. Only a handful of positions per year opened in my industry, so I got very good at making the most of each application. I got to the point where if there was an...
I was screening for new l/s ideas yesterday and forgot to filter market cap. Some hilarity ensued, and having a minute this morning, I figured I would share this collection of monkey shit. Yes, these are/were real companies and you can look them up on Cap IQ if you want. **5. Reality Racing...
Hey everyone...sorry to take so long for part 3 of equity research vs. investment banking. For those who missed the first two parts, see the links below: [Work/Life Balance: Equity Research Vs. Investment Banking - (A Definitive Guide, Part...
I haven't seen one of these in a while, so I figured I would start one. I am a Vice <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview">President in equity research</a></span>, with coverage of a selection of stocks...
It’s been two years since I did the last one (<a href="https://www.wallstreetoasis.com/forums/ask-a-vp-in-equity-research-anything">"Ask A VP in <abbr title="equity research">ER</abbr> anything"</a> ), so I figured I would do one more....
So I'm feeling a bit generous over the holidays. So have at it kids, ask away. Straight-dope answers will be provided.
<em>Mod (Andy) note: This thread is from December '11, but Flake said he is still up for answering questions, so fire away</em> Given the holiday season, I'm in a relatively good mood and feel the need to give back a little. I've seen a bunch of these "fielding...
I have been an <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview"><abbr title="equity research">ER</abbr></a></span> analyst at a <span class='keyword_link'><a...
Hi <abbr title="Wall Street Oasis">WSO</abbr>, A lot of people have asked me for equity/industry analyst report templates. In response I have attached a few <span class='keyword_link'><a...
Hello Everyone, I'll keep this short and sweet. I took an <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview"><abbr title="equity research">ER</abbr> job out</a></span> of school (after...
I've been getting a lot of PM's for this primer so I thought I upload it here. Cheers,
Title says it all. Would be interesting to get a poll going including firm size (bb/<abbr title="middle market">mm</abbr>/etc) and sector.
Seems like there has been a lot of negative posts lately (mainly from a few trolls or most likely the same troll) so I wanted give a positive story for those looking to transition. Quick Background: Went to a non-target state school and didn't know anything about banking for the most...
Hi Guys - I'm working on a blog (or maybe ebook) to give junior staff and interns an idea of what it's REALLY like to work in the equities sell-side business at a <span class='keyword_link'><a...
Long-time <abbr title="Wall Street Oasis ">WSO</abbr> user, created a new account for this AMA. I got a lot of help from this forum during my recruiting process and I owe a lot to <abbr title="Wall Street Oasis ">WSO</abbr>. Wanted to try and give back...
Hey guys, Long time lurker here, thought I would give back and add some value to <abbr title="Wall Street Oasis ">WSO</abbr> after learning a lot from here during the last few years. As the title states 1st year analyst (nearly 2) , have gone through the whole...
Just some brief background about myself. I started in Australia working as an Actuarial Analyst and moved to Hong Kong just before the Financial Crisis. My first job at an Investment Bank was at a Bulge Bracket doing Data Management for their Equities Research Department. Eventually, I got...
2nd year analyst at a boutique broker-dealer from a non-target state school. Also a <abbr title="Chartered Financial Analyst">CFA</abbr> Level 2 candidate, working under multiple sector analysts with decent exposure to Oil & gas, metals & mining, and retail. We...
I’m an MD in <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview">equity research</a></span> with 15+ years experience. I’ve <span class='keyword_link'><a...
I am currently a research analyst intern at a relatively decent sized hedge fund. One of my responsibilities is being in charge of the biotech stocks in the portfolio as well as researching new opportunities in the biotech sector. Hopefully this helps some people who are in need of some help...
So I want to do equity research. I know that there is sell-side and buy-side and, so far, I have a few distinctive arguments for both (see below). What I would really appreciate to find out is your views in terms of the experience quality that both offer. P.S.: Not trying to touch on things...
Thought I’d post some the PM diarrhea I’ve sent to monkeys (who ask intelligent questions). Here we go… I graduated college with an Econ degree from a top 20 school in the US but not an Ivy. Side-note, monkeys get way too hung up on target, semi-target, non-target on this board. In...
Hi all, I am an undergraduate at a target school and interested in possibly working in equity research. The problem is that I am not an expert in any way on financial markets. Do any of y'all have recommendations of any resources (videos, books, publications) that should help me get...
Equity Research Internship Size of Bank: Bulge Bracket Location: SF Salary: 15.00/hr Did you bargain? if yes from what amount: No edit: (landed <abbr title="full time">FT</abbr> <span class='keyword_link'><a...
Is it better to spend time studying for the <abbr title="Chartered Financial Analyst ">CFA</abbr> level 1 or spend time self studying, reading <span class='keyword_link'><a...
I keep seeing all of the posts for people trying to get into <abbr title="equity research">ER</abbr> - why?! Commissions were down 10-15% last year, firms are closing, and more regulation is coming....
We are nearing that fateful time of year when numbers discussions take place. There are already a couple of these out <span class='keyword_link'><a href="/finance-dictionary/what-is-investment-banking-division-IBD">there for <abbr title="investment banking...
There's currently a bonus forum going around on the banking forum, would be great if we could get something similar going for research so we can all get a pulse on where everyone stands. Try to stick with the following format: Title: Rank: Bank Size: Base/Bonus:
My fellow monkeys, I am in dire need of some guidance, here! I <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview">won an <abbr title="equity research">ER</abbr></a></span> <abbr...
Hi <abbr title="Wall Street Oasis">WSO</abbr>, I want to give back to <abbr title="Wall Street Oasis">WSO</abbr> after using this website and many other resources to move from PubFin to Equity Research. Feel free to ask me questions and I will get...
Here we go again Let's keep this pretty simple and straightforward: Bank: <span class='keyword_link'><a href="/finance-dictionary/what-is-the-bulge-bracket-BB"><abbr title="bulge bracket">BB</abbr></a></span>/<abbr...
I'm a sell-side analyst at a solid mid-market shop. I've been in my current senior analyst role for a relatively short time (<5 years) and wanted to share some thoughts over the next few months for those interested in <span class='keyword_link'><a...
I have some great reports. <span class='keyword_link'><a href="/finance-dictionary/what-is-technology-media-telecommunications-TMT"><abbr title="technology, media, telecom ">TMT</abbr></a></span>, Internet Industry reports by...
Got a few inbounds requesting more info on how to best contact an equity research analyst and get a response. Here are five steps: **1. Get contact info from Bloomberg, FactSet, Capital IQ, old research reports, and online** What's great about equity research is that it's fairly...
Thoughts on the firm / culture / reputation within equity research? I have done a forum search but everything is old. Glassdoor has mixed reviews. What sort of exit opportunities would be possible if you were in a ranked team there?
Hey this is kind of last minute but I have a 3hr modeling exam very soon for a Equity Research position. What should I expect? What is the best way to prepare for this? Does anyone have a model template that resembles what the exam will look like? Thanks in advance to anyone who can help me...
When does recruiting for 2019 internships start in ER? I know that IBDs has already started general recruiting but I haven't seen much for research divisions. Any info is appreciated.
charlie the unicorn
How should a new guy in the industry best position himself to survive the impact of Mifid II on the sellside?
This is just one of those threads, where we talk about what the <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview"><abbr title="equity research ">ER</abbr></a></span> industry is like. I'm a...
Hello, I am trying to put together a few short <abbr title="equity research">ER</abbr> reports before I start my <abbr title="Masters in Finance">MSF</abbr> program in the Fall and don't really know how to make it both educational and...
<b>Bio</b>: tl;dr version: non-target, non-major, also had a sub average GPA in undergrad but compensated with a higher grad GPA and work experience. I went to a non-target, east coast, liberal arts college and graduated with a biology major. Originally, I intended to pursue a...
So I'll start this off by saying I don't really know what I'm talking about. I am a senior in high school who is going to college soon (semi-target). From what I have read, Equity Research seems rather appealing to me, and it would probably be what I network for and hope to do...
If you could start over and cover any sector from the start which would it be and why? Is there a reasonable argument that any one sector particularly positions you well for eventual generalist investment positions? Bonus: where do you see consumer discretionary fitting into this...
I have an interview in a few days for a position as an equity research associate with and O&G investment bank in Texas. I have spent the last 2.5 years in investment banking, but out of the blue this firm reached out to me, and now here we are. I am familiar with investment banking, but I...
Hey all, Was reading through Flake's <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview"><abbr title="equity research">ER</abbr> Q</a></span>&A posted around the holidays and thought that...
going to be starting in equity research at a mutual fund. i'll be be covering companies and so wanted to ask the <abbr title="Wall Street Oasis">wso</abbr> community (specifically those working on the sell side) what are the characteristics of buyside analysts that you...
I already read "Here are the target undergraduate schools in Canada," which seemed like it was more for people who wanted to go into <abbr title="investment banking">IB</abbr>. I'm more <span class='keyword_link'><a...
charlie the unicorn
After a bit over a year on the job, I've identified that I have a very weak grasp of economics. I'm not really interested in reading academic texts and would rather read something that'd help me just understand the relevant bits for someone doing research. I understand the basic...
Hi Guys, I have an upcoming modeling test in person at a well known sell side firm for research. I’ve done the WSP models and <abbr title="Chartered Financial Analyst">CFA</abbr> 1 but have never done model with quarterly projections/data. Can someone advise how the...
http://www.cnbc.com/2016/07/28/bbt-cuts-jobs-as-it-exits-equity-research-trading-business.html Surprised that this wasn't here already. But for any aspiring equity researchers (looking at those ppl who've messaged me as of late asking for advice), this is the risk of entering a...
Dear all, I got past my second round interview for equity research associate position, and they have sent me an assignment to do. I was wondering if anyone had a dynamic 3 statement financial model that they would be so kind as to let me see. I want to make sure that I am doing everything...
I have read in a few posts on this forum that sectors like O&G, A&D, and Industrials generally are among those most politically driven, or at least the most sensitive to political developments. I was wondering if anyone who works in these sectors (or sectors that you believe are also...
**BACKGROUND:** I have been at a Credit Rating Agency (Moody's, S&P, Fitch, etc.) for four months. I started straight out of undergrad as an Associate Analyst (comparable to an analyst in <abbr title="investment banking">IB</abbr> or associate in ER). I graduated...
I just got a interview for <span class='keyword_link'><a href="/company/evercore" target="_blank">Evercore</a></span> ISI <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview">equity...
**Question**: Incoming <abbr title="full time">FT</abbr> in Equity Research and as the news go (<span class='keyword_link'><a href="/company/nomura-holdings" target="_blank">lately with Nomura</a></span> signaling a...
Thoughts? I have noticed a general shift in sentiment. This could just be my own social circle but it reminds me of Instagram's introduction of stories and the shift away from Snapchat. Once the stigma around using none iOS devices is broken, the bottom will fall out on iphone ownership.
I got that a few times a week particularly when he is under huge pressure or in a bad mood, that sucks. I even heard he made his previous associate cry couple times. How about you guys?
msg me if you would like copies - comprehensive industry reports - full length
Hi all, I recently finished up an <abbr title="summer analyst intern">SA</abbr> <abbr title="Sales and Trading">S&T</abbr> stint @ a <abbr title="bulge bracket">BB</abbr> and received a full-time offer. I have been...
Hey guys, I've been lurking on <abbr title="Wall Street Oasis ">WSO</abbr> since my undergrad, and thought it was a good time to give back. A bit about me... Grew up in a Western country, did high school in SEA, university from a top school in Australia. Did...
Hi all, So I graduated a couple of years ago with a science background, have been in research 4+ yrs at a top institution (in a very competitive field) with a handful of publications (including first author). I have been interning this summer at a pharma consulting firm but am also...
Positions in equity research are available for seasoned professionals and new hires. New hires out of school will start as research associates and move up the chain to a research analyst after gaining experience. Before any of this though, you must get the interview and show the interviewers you...
Just wanted to ask the community what software do you use to do your equity research. Are you heavily into excel?
Hello everyone, I am currently a resident in internal medicine that is planning to forgo fellowship to get into <abbr title="equity research">ER</abbr>. Why now? Because I didn't know the field even existed until last year. About me: <abbr title="balance...
I don't think I have ever seen anything recent on this part of a <abbr title="bulge bracket">BB</abbr>. Surprising since it considered <abbr title="front office">FO</abbr> and that is what most on this forum want. What do you guys see as the...
Are some industries better than others to cover from an <abbr title="equity research">ER</abbr> standpoint? Are some duds (and why)? What are the key ingredients to a successful <abbr title="equity research">ER</abbr> career as far as coverage...
Three ways that investors might try to forecast current-year earnings: 1) Use analysts’ estimates 2) Assume results will approximate last year’s earnings 3) Calculate an average of the last several years’ worth of earnings. Of the three alternatives, <strong>analysts’...
I've read many threads on <abbr title="Wall Street Oasis">WSO</abbr> that dealt with career advice, but was hoping to get some input on my situation. Background: went to a non-target private school in the south (decent reputation and ranked business school) and...
To me the answer is obvious, print. Call me old fashioned but I feel like I understand content better when I can actually hold it in my hands, I still buy hardcopies of books opposed to getting a kindle and downloading them. Also, marking up the 10-K with notes is much easier when you print it...
I want to understand how typical industry personal <span class='keyword_link'><a href="/finance-dictionary/trading-overview">trading</a></span> restrictions for <span class='keyword_link'><a...
Hi everyone. I'm a couple months (associate level) in at a boutique shop working directly under a PM(<500m port). Have already covered more than 50 companies since I started and definitely feeling the heat already, is my scope too big (according to James Valentine, hell yes)? What...
HI there fellow monkeys, first time poster here. I just recently broke in to buyside <abbr title="equity research">ER</abbr> and was given the unique opportunity to choose which sector I want to cover since I'll be their first <abbr title="equity...
Any book recommendations relating to equity research? I've read quite a few of the investment classics (particularly value investing), so I'd prefer something more specific to equity research.
If you had 2 offers: 1) Equity Research Associate- Sell Side- at <span class='keyword_link'><a href="/company/susquehanna-international-group" target="_blank">Susquehanna International Group</a></span> (SIG) or 2) <abbr...
Modern Day Yuppie
How difficult is it to break into Equity Research fresh out of school? I attend a target school (a top 15 LAC) and have all the requisite stuff on my resume - 3.7+ GPA, econ major, significant accounting/finance coursework, <abbr title="financial institutions...
Hey guys, I'd love to start my career in Paris or Frankfurt (personal reasons) and am wondering if there is any possibility to work in Research there (Equity/Credit ideally). So I was wondering if any of you knew of well ranked continental european research houses. I already know for most...
While I have heard that the most significant factor impacting an <abbr title="equity research">ER</abbr> associate's work/life balance is the analyst that they work under (their style, etc.), I was wondering if covering certain sectors vs. others can cause an <abbr...
I have had three internships as an undergrad. - wealth management, credit analyst and a boutique investment bank. My question was vague; I should have been more specific. I am aware that hedge funds are private, less regulated and only open to qualified investors. I read ALOT. Most recently, I...
I'm wondering if anyone can provide color on what the typical day-to-day of working on either the insurance sector or the banks sector is like. From my anecdotal experience, people covering those sectors tend to have advanced maths backgrounds (i.e. majored in pure maths or physics) and...
WSO-ers, After years of perusing this site and offering nothing in return, I want to help where many of you have helped me. Most forums have some very solid participants, but <span class='keyword_link'><a...
Given increased volatility and a potential downturn, it seems we might soon see a shift away from passive funds. Does this mean equity research, particularly at an active manager, will be a good gig? Or is the overall downward trend of <abbr title="equity...
Just curious if anyone has some insight into where equity research at Raymond James ranks on the totem pole of <abbr title="equity research">ER</abbr> industry. Is it a good shop to learn the basics and make connections, with the end goal being to eventually move into...
Just got the news last Thursdday, our management has decided to let go of our team (since we have teams competing in the same sector/II category). I was already looking to move, but I am now worried where I can go. 1) I don't want to do IR 2) Been trying to do Corp Strategy or Corp...
I work at a generalist fund, but our team is particularly light on healthcare so I figure it'd be good for me to become as well rounded in the sector as I can. I've made some decent event-driven calls so far with devices and HC services (hospitals / ASCs / etc), but have always...
Anyone know what the standard pay scale for <span class='keyword_link'><a href="/finance-dictionary/equity-research-overview"><abbr title="equity research">ER</abbr></a></span> is (assuming <span...
Hello All, I am currently trying to teach myself how to make financial models (I'm a Law Student that would like to work a fund carrying out equity research after University) and was wondering if you guys include the Balance Sheet and Cash Flow statement when modeling...
On short notice I have an interview with an analyst and an associate on thursday for an associate position. Can anyone give me a heads up on what will likely be asked? Will this be a fit interview or more technical based questions and if anyone can give an example as to what level of depth...
Hello, I am an equity research analyst in a boutique sell-side research firm. I focus on generating and working on general short ideas. However, until now, I have not had a chance to analyze a publicly traded bank stock. Any recommendation on what books to buy to analyze bank stocks? I bought...
When running an analysis on multiple companies that might be of potential interest, going through the SEC filings is the most important yet most time consuming part of the process. 10Ks and 10Qs can go from 50 to hundreds of pages depending on the size of the target company. Anyone has...
I am trying to build a quarterly operating model for a company that happens to present its consolidated statement of cash flows cumulatively throughout the year i.e. Q1 is the Q1 cash flow, Q2's, however, is Q1 + Q2... and so on. I didn't think this would be a problem because I...
Hello monkeys, As I am gearing up to start interviewing for equity research jobs, I am wanting to read some books to have a better understanding of investing and the markets. A little background on me, I am a <abbr title="Certified Public Accountant">CPA</abbr> working...
Hey guys, I have 2.4 GPA, attend a non-target school, secured an e/r internship in a boutique investment management firm last fall, and I'm having a hard time getting another internship for this coming summer... looking for creative advice and tricks about networking (anything other than...
Thinking of recruiting for T Rowe Price's sophomore summer analyst program next year - heard some good things about it from someone I networked with who works at Blackstone. How does this program stack up against other sophomore internships? What's the summer analyst experience like?
Hi all – looking for some feedback to see if anyone has attempted this, has been successful or recommends working full-time, studying part-time for a master’s degree, and pursuing the <abbr title="Chartered Financial Analyst ">CFA</abbr> at the same time. From what...
Hi Everyone, I'm a recent graduate from a non-target school. Currently I'm waiting for my <abbr title="Chartered Financial Analyst">CFA</abbr> lv2 result. I have 80% confidence I can pass that. I always have a strong passion on equity research but I...