Equity Research Sales at BB

baws's picture
Rank: Senior Chimp | 29

Hi all,

Just want quick clarification on what the role in the title does day to day. From my understanding they express the firm's views and ideas (from research) to PM's and other people on the buy side with the view to make them trade through the firm as well as subscribe to research?

Any clarification would be much appreciated - trying to figure out where exactly this role lies in the research, sales, sales trading space as it seems different banks have different titles

Thanks

Comments (24)

Aug 10, 2012

That's a good quick description you have. It's still largely a sales job though, so think about what your future goals are

Aug 10, 2012

Thanks for the response grapefury

Are you allowed to put your own spin on the research or is it simply relaying what Research have said?

Aug 10, 2012

I worked at a buyside ER firm last summer and essentiay the ER sales guy organizes the meetings, sets up social functions (dinners, sports games etc) and updates the buy side on their analysts coverage and various product offerings. As already mentioned, very much a sales job. It is simply entertaining buyside firms and relaying information from the various analysts. Hope this helps.

Aug 10, 2012

Hi Bluehorshoe

Is that the ER sales guys on the buyside or the ones you dealt with on the sellside?

Aug 10, 2012
baws:

Hi Bluehorshoe

Is that the ER sales guys on the buyside or the ones you dealt with on the sellside?

Sorry- the ER sales guys were all on the sellside. They come in a couple times a year to update the team on their analysts models and projections. Then usually take the buyside guys out for dinner/drinks at least. It's a pretty nice lifestyle, but its really not a finance job- not sure what you are looking to do. The sales guy of course keeps up with the markets and reads the research reports, but he really doesn't provide any insight to the buyside firm. Strictly presentations, entertaining and sales for a sellside ER sales guy.

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Aug 10, 2012

Thanks bluehorshoe

Initially I thought the ER sales guy would call up PM's and inform them about ideas which would require some independent thought and it was a title given to sales people in Equities. Do you happen to know roughly what comp is?

Aug 10, 2012

They do, and yes of course pitch their own ideas and express their own views. A lot of people underestimate the knowledge of equity sales people. I don't know about the US but in Europe equity sales people are generally very smart and some almost nerdy. The exit opps are usually not great but it really depends on how good you are at networking. In Europe Ive seen a lot of senior sales people move to family offices to be senior advisors. I wouldnt say that equity sales is much of a sales job because its more about managing relationships and advising clients. So if you were hoping for a Boiler Room-like experience youll be disappointed.
Equity sales people can make a shit load of cash but needless to say that is only if youre good. If you dont perform youll be taking the next train home to surrey.
Its a pretty awesome job but you really do need to be sure that you like it.

Aug 10, 2012
nauprillion:

They do, and yes of course pitch their own ideas and express their own views. A lot of people underestimate the knowledge of equity sales people. I don't know about the US but in Europe equity sales people are generally very smart and some almost nerdy. The exit opps are usually not great but it really depends on how good you are at networking. In Europe Ive seen a lot of senior sales people move to family offices to be senior advisors. I wouldnt say that equity sales is much of a sales job because its more about managing relationships and advising clients. So if you were hoping for a Boiler Room-like experience youll be disappointed.
Equity sales people can make a shit load of cash but needless to say that is only if youre good. If you dont perform youll be taking the next train home to surrey.
Its a pretty awesome job but you really do need to be sure that you like it.

Thanks for the reply nauprillion

This sounds more like what was described to me. Do you happen to know if the title 'ER Sales' is simply a title given to sales people in Equities?

Aug 10, 2012

You dont hear Research Sales that often. Normally, its just Equity Sales. Its the same thing.
Dont forget that ER does a fair amount of marketing themselves.
Lately, Ive been noticing that quite a lot of former AM analysts and even PMs do Equity Sales on a senior level because the money is usually better on the sell side unless youre a big shot or at a hedgie.

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Aug 10, 2012

Thanks nauprillion that clears it up for me

Aug 10, 2012

It's spec sales. You specialize in a sector and partner with the ER teams to help cover your clients. They are used to maintain contact wIth the clients on a daily basis and help communicate the investment ideas with generalist sales if the analyst is busy. From a research perspective having a great working relationship with your spec sales person is a necessity as you can meet new clients off of them and they are a great way to help you broke new research reports.

Nov 21, 2013

my dad did primarily equity research sales way back in the day with Bernstein. From everything I've heard, it's a fantastic job but a dead-end for your career...very little exit ops. If you're young enough, you can usually go into research or somewhere on the buyside, but as you get older you become a career salesman, so just remember that.

Fuck Stringer

Nov 21, 2013

My guess is that you will be doing Equity Research - but the ER you do will be used to inform sales on whatever information that they need.

Just a guess.

Nov 21, 2013

I believe this role is getting equity research to clients

Nov 21, 2013

Thanks guys, appreciate it.

Nov 21, 2013

Something like this? Not sure if that's what you meant...but you can reach out to their reps.

http://thomsonreuters.com/products_services/financ...

Nov 21, 2013

Thanks!

Nov 21, 2013

equity research sales...

think you will gain more knowledge with research. other other one seems more about networking and reaching out to people.

Nov 21, 2013
George Parr:

equity research sales...

think you will gain more knowledge with research. other other one seems more about networking and reaching out to people.

ER Sales is sales, you gain the knowledge of how to use a phone. You can get a lot of interaction with whoever you sell to though and down the road can be a good career. Starting out its cold-calling though. Both have limited info on here.

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Nov 21, 2013
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Nov 21, 2013