Unsure of Career Path
Hi everyone,
I'll just get right into it. I'm a recent college grad (non-target) and have been working as a equity research analyst for an investment advisor who does individual stocks for her clients rather than model portfolios. In college I was a part of a club on campus where we actively managed a portfolio of stocks and bonds close to around $1.3 mil. I wrote fundamental research reports on companies that we thought were undervalued and performed valuation models (typically DCFs and TSMs) which led me to finding this job. My current responsibilities are: finding companies I believe are undervalued, listening and summarizing earnings call for the companies within her portfolios, listening to conferences, releasing quarterly updates on the economy and the portfolios themselves. I have my SIE, Series 7, and 66.
My question is I am not sure what to do from here career-wise. My goals are to try and find a buy or sell side firm to try and become a pure sector analyst. I am unsure if I should start the process of my CFA level 1 studying, build out my network more to try find these types of jobs, or some other third option. I have recently begun applying to other jobs within these firms but have been unsuccessful. I am not sure if this is from a lack of work experience (only 1 year), poor resume, the role I am currently working does not seem "up to par" compared to other roles or what. I am applying to purely other entry level equity research and analyst roles.
Thank you for all the information.
Based on the most helpful WSO content, here’s a roadmap for your situation:
CFA Level 1: Starting the CFA program is a strong signal of commitment to investment research. Many buy-side and sell-side firms value candidates who are progressing through the CFA exams. It’s especially important if you’re coming from a non-target school, as it helps level the playing field and demonstrates your seriousness about the field.
Networking: Building out your network is critical. Many roles in equity research, especially on the buy-side, are filled through referrals. Leverage LinkedIn, alumni networks, and industry events to connect with professionals in the field. Focus on informational interviews to learn about their career paths and gain insights into what firms are looking for.
Resume Optimization: Ensure your resume highlights your experience in fundamental research, valuation models (DCF, TSM), and portfolio management from your college club and current role. Tailor it to emphasize skills and achievements that align with the roles you’re applying for. If you’re struggling with applications, consider seeking feedback from industry professionals or using resume review services.
Targeting Roles: While applying to entry-level equity research roles is a good start, consider broadening your search to include roles like investment analyst, financial analyst, or even corporate finance positions. These can serve as stepping stones to your ultimate goal of becoming a sector analyst.
Patience and Persistence: Breaking into buy-side or sell-side equity research can be challenging, especially with only one year of experience. Keep refining your approach, and don’t get discouraged by rejections. Many professionals in the industry faced similar hurdles early in their careers.
For further insights, you might find these WSO threads helpful: - https://www.wallstreetoasis.com/forum/asset-management/breaking-into-bu…</a">Breaking into buy-side equity research - my experience - https://www.wallstreetoasis.com/forum/equity-research/career-ladder-equ…</a">Career Ladder: Equity Research vs. Investment Banking - A Definitive Guide
Good luck, and remember, persistence and strategic planning are key!
Sources: https://www.wallstreetoasis.com/forum/equity-research/career-ladder-equity-research-vs-investment-banking-a-definitive-guide-part-3?customgpt=1, Career Ladder: Equity Research vs. Investment Banking - (A Definitive Guide, Part 3), Breaking into buy-side equity research - my experience, Breaking into buy-side equity research - my experience, How to pick your next sell-side research job
You are in a dead end job that sounds like ass. Network and get out of there. Send pitches directly to analysts when you apply for jobs; if you don’t know who is hiring, just send your pitch to every senior analyst under that sector at the bank and ask them to forward on to whoever is looking
If you're fine working a dead end job for jackshit pay go be a pool boy in tuscon
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