Hi,
I currently work as an equity research associate covering the consumer sector at a small firm, and have an offer for another ER Associate position at a bulge bracket, but covering the tech sector. I have been in my current role for 1.5yrs. Do you think it is advisable to change sectors from consumer to tech, given that I will get to move from a boutique to a BB (and hopefully better pay)? Or will I have to start as a 1st year associate since my current ER experience is not in the tech sector? My current role is in NYC and the tech role is in SF.
Any advice/comments/suggestions would be most appreciated. Thank you everyone!
First off, do you enjoy tech. Second since you have the offer, is the base at the BB higher? by how much, and have they given any indication of bonus % range?
Is this the Institutional Investor ranked tech team in SF? What are your long term plans, depending on that, it def. might be better than your current firm for exit opps.
HI @"valuemunkee"
Yes, I do like tech. I just got an email from the analyst, so don't have details on pay. But my guess is that the base is 10k more, and bonus may be significantly more (~20K+). The team is not II ranked but then, neither is my current team. In terms of exit opps, looking to move to a long/short HF in a couple of years.
Do you think if I join the tech group, will I be considered a 2nd year associate or a 1st year, since my current ER role is not in tech?
Also, not sure if you've changed sectors within ER, but those who go from one sector to another, do they normally know a lot about the new sector, or do they get the offer based on their performance in their current role, which is taken as an indicator that they will be able to pick up the new sector relatively fast?
Thanks!
^ bump
What exactly is the downside here? You got a job at a bigger firm in a sector you're interested in....that sounds bad?
Hi @"Professor Plum"
Thanks for the reply. My only apprehension is that I don't want to have to start all over again as a 1st year associate given that I will be changing sectors if I take up this offer...thoughts?
Thanks!
Even though its a different sector you should still be much further along the learning curve than a new associate. Presumably you have all your licenses, you know how to build/update models, contribute to reports, etc. Basically you should have a pretty good idea of how the business works by now and what you need to do as an associate. Its not like you're an expert on your current sector at a year and a half in so I wouldn't think switching over at this point is much of a big deal.
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