ER Salary?
I've got two offers, one in wealth management, the other equity research. Both are summer internships with BB. I've heard 55-60 is the standard salary for first year analysts, but was wondering what is the difference in bonus btw the two. I know ER compensation has taken a hit the last 5 years since it is viewed now as more of a cost center and more difficult to generate revenue for the firm. Also, the research internship offers a lower percentage of receiving full employment (around 30%). How easy would I be able to pick up a full time offer in research with a bulge bracket internship on my resume given the fact I'm coming from a non-target school. Any advice as to which offer you would take is greatly appreciated. Thanks.
bump
Does anyone have any clue as to salary for equity research. I've heard anything from 70 to 140 and am confused as to what I should expect, should I pursue ER. One of the offers is exploding so I need to make my decision shortly. Thanks in advance.
What are your plans long term? If wealth management is selling products to rich individuals (private banking), which it is, then what kind of cross functionalities will it offer for your future job.
If you want to work at a hedgefund, PE, I-banking, or Asset Management (think fidelity), then I would do the equities research position and get a CFA as the skill sets are very similar - valuation.
Also, total compensation could be 70-140, but dont expect a base salary that high as an analyst. Your Asset Management and ER position should have very comparable starting salaries. I would imagine that Asset Management will have a higher compensation upside if you also receive some commission.
sorry to keep bugging everyone but I'm really in need of some advice as to what I should do this summer. Any advice or knowledge about potential salaries in research would be most appreciated.
Unless you're willing to relocate to Mumbai I'd take the wealth management job.
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