Equity Research prospects in Australia?
What are the Equity Research prospects like in Australia? I'm currently in high school and I've figured out Hedge Funds and AM in general isn't very large in Australia. I was wondering if that was the same for Equity Research
Super is large. There are also some pretty strong private wealth management and insurance firms. Buyside ER is small - most banks hire single digits (if any) in a given year.
If you Wana get in, you should start a trading portfolio early while you do commerce, learn how to do financial modelling at uni, and perhaps try to learn mandarin or something that can seperate you from the pack. That way when you graduate with some internships, modelling experience (ie. Wall Street oasis), a part time job and etc, you stand a good chAnce at landing a equity analyst role. Look at institute of trading, with anton Kriel on YouTube and do his course also. You should prepare early if you know what You want. I did at your age, and I ended in ER Australia
australian S&T / ER (Originally Posted: 02/13/2011)
Hi all,
I'm curious to know if anybody on WSO has experience or insight re breaking into finance (preferably but not limited to S&T or ER) in Australia. Limited connections over there on my part. Somehow I managed to break in over here, so I'm not terribly worried about my chances in aus, but I thought I'd seek any type of advice from you all.
Thanks in advance!
im curious as well, were u able to get a job? whos hiring there and what kinda roles (eq dervs/commods?)
bump
From what I've heard, it's actually much, much more competitive to get a job over there due to the relatively tiny financial community.
I would think it would be much smaller, but you've got to remember there are only 20mn ppl in the country and you're essentially on the same time zones as the asian countries.
Can you elaborate a little more?
To be honest, I really can't -- I just don't know enough. Can any aussies step in?
I'm in Aust.
Finished uni last year after having been a summer analyst at a couple of IBs (IBD and S&T) and now in S&T. It is very competitive. Last couple of years the banks that shed a lot of jobs during the GFC had a "hiring spree", which meant ~5-15 undergrads for the major players in the markets (DB, UBS, Citi, BAML), while other banks hired a couple or so. Macquarie is represented here better than overseas, mainly because it is an "aussie" bank and has links to deal flow in ECM/DCM and clients from private banking, but is declining in terms of market share.
Wow, those numbers are staggeringly tiny. Thanks chunkymunky
No worries. Nomura and RBS have been building up their teams and have been recruiting a fair bit as well, but they might have reached their target headcount already (not too sure on this one though). Btw the numbers were for S&T, though considering the fact that ER hiring is pretty minimal (a couple at most?), they might even reflect recruiting numbers for S&T + ER.
I wouldn't disagree with chunkymunky. ER roles are occasionally advertised (use Seek for an idea) but most likely it will be either Sydney or Melbourne as they are the finance hubs. Perth is coming onto the scene because of the mining. Your best bets are either transferring from overseas or contacting recruiters. Being overseas can be a massive disadvantage - it depends on the company.
If it's any indication, I recently landed an analyst role on the buyside (think Fidelity, et al) that was unadvertised. From that I'd say the candidate pool is pretty deep.
Also if you're still interested in moving down under I can recommend a couple of well-connected recruiters in Sydney that may be interested. Send me a PM.
Just curious -- what types of schools do most of the Australian S&T people come from? I'm guessing the usual suspects from within Australia and a fair share of Oxbridge, no? Any other trends?
Yep, it's mainly Australia unis. I'd estimate more than 95%. It's actually quite rare to have grads come from overseas given the work involved with visas, etc that companies don't want to do unless it's absolutely warranted. Hell, even international students who study at Australian unis are complaining!
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