ER -> ECM

Hey Monkeys,

I'm currently working as a first-year Equity Research analyst in a global non-BB bank with strong LatAm presence (think BBVA, BTG, Deutsche, Itau, Scotia, etc...) and I might have the opportunity to make a lateral move into the ECM team in New York.

I know the job itself is quite different in ECM vs. ER with less modeling and more "sales"/origination of deals, so that is kind of clear in my mind already. In the end, I feel like ECM work would be more useful for someone looking for a career in LT investing (ex. PE), especially after combining that experience in ECM with the previous ER experience. (Not to mention the better comps...)

That being said, I wanted to hear the pros and cons of such move, as well as what you think about exit opps down the line for ECM.

Thanks a lot!!

EDIT: Also, I feel like I still have a lot to learn in ER, especially in regards to the sector I cover. However, I also believe that this is a great opportunity that I may regret ignoring in the future, especially if I get stuck doing sell-side ER for a long time.

 

Officiis fuga similique eius. Illo quos molestias est est. A dolor eligendi fugiat maiores nesciunt voluptatem facilis. Autem aut dolor et earum accusamus voluptates. Eum et a non explicabo.

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

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
CompBanker's picture
CompBanker
98.9
6
GameTheory's picture
GameTheory
98.9
7
dosk17's picture
dosk17
98.9
8
kanon's picture
kanon
98.9
9
Jamoldo's picture
Jamoldo
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”