Ok, so here goes. I got a great degree, making good money a number one boutique sell-side research, but I want to make even more money. It's not about greed, but margins sucks in equities.
Any suggestions for exit options. Derivatives research may be too hard and also boring. How about derivatives sales? or working at a hedge fund? Any suggestions for something a little more challenging/prestigious?
How much tax do you pay on your pay package in the UK?
I'm in the upper bracket barely. First year analyst.
I love trading derivatives.......way more profitable than stocks. You'll see more of it at a hedge fund
Who's this guy speaking at Kellogg?
exit options for eq research? anyone? I love the guy at Kellogg, but anyone?
there's a very good answer to that on Vault.com. do a search, you'll get it.
r
mp2437,
Any chance you could post that answer? Can't seem to find it on Vault.
I'm thinking derivative sales or fund manager as my exit. The sales guy are fans and I can drink on friday if I run a fund. (Not that I don't drink on friday as it is, but just that i'll drink earlier)
i wish i can be fucked in research....fucked in operations is much worse
From a Vault post:
A career in equity research could lead to a few different career options. You could 1)stay in equity research and become a more senior analyst at your firm 2) join a hedge fund as either an Analyst or porfolio manager in the sector that you are covering (eg if you are covering Media as an Analyst you could join a hedge funds Media group as an Analyst) 3) join a Asset Management or mutual fund 4) this is a less likely track but there are a small number of research analysts who end up working for the clients they cover. (eg the Media Analyst will go work in corporate finance at Disney) 5) this is also less likely but I have some friends who started in equity research and after having a family etc moved into institutional sales. A good research analyst who has good relationships with the buy side as well as a good understanding of the sector they cover will often do well in institutional sales. However it does not work in reverse, as the i sales guy will not have the technical skills needed to work in research.
I think equity research is a great place to start a career as it gives you a good foundation. You might want to consider what sector you want to focus on as most research groups are divided by sector focus- (eg distressed debt, risk arbitrage, media, retail, healthcare, biotech, energy etc). It helps if you choose a sector that will be growing. For example those who came out of college and decided to join equity research in technology or internet right before the internet boom did very well very quickly.
Another Vault post:
1) the path Sell side -Research assistant -jr analyst -analyst -sr analyst -sector strategist -director of research -Head of some muckety muck thing (capital markets)
Buy side -jr analyst -analyst -PM -Head of asset class -CIO
2) salaries see the CFA Institute salary survey. Entry level 45 to 65k to start with a 10k bonus for major firms.
3)shifting to PM for eqr. If you are on the buyside yes. If you are on the sell side you would likely need to shift to the buyside first.
4) exit ops. Why would you want to exit Asset Management? CFO, Investor relations
5) best places:
Buyside Legg Mason, T rowe price Wellington Capital Group
Sell side Lehman Goldman most of the others suck. For a top regional try Robert Baird
i think you are right
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