How many hours does a research analyst work?
Hello,
I just wonder if somebody can tell me how many hours a research analyst, especially on the fixed income department, usually has to work for a normal week.
Thanks
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usu 60-65, and a bit more during earnings season
7-7 on most days, 7-10 during earnings, barely any weekends if any.
7-7? Figured it was more like 9 - 8, most of the research guys I've worked with aren't in the office till later on. Maybe it varies by group/industry/focus? In general its like 60 hours a week for 40 weeks a year, and then 70-80 for like 10 weeks a year. You'll find that ER hours tend to shrink as you get better and better at doing the basics and spend more time doing higher level thinking.
Disclaimer: I only work with research, but do not work in research
Research has a lot of variability when it comes to hours because the groups are small and independent from each other. My group was 7-7 but I've seen ppl walk in between 8 and 9. The office is a ghost town after 7 thou. To the OP, hours are irrelevent as its all up to your specific covering analyst of your grp. I've seen one team being hammered day in and day out and pull in like 75 hrs consistently every week because their MD was a slave driver but some teams were like 50-55 hours just because a lot of the things you do as an analyst/associate is mechanical so you just get better and faster at what your doing.
big unit, the op asked about FI research, generally in and out earlier than ER
A friend of mine who was interning as a research analyst at Goldman, albeit in equities not fixed income, worked several weekends towards the end of the summer around earnings season. From the above posts, I gather that's not in fact typical?
www.gottamentor.com
but from what I have heard, most associates work quite a bit more than that, especially at BBs. According to friends in NYC at BBs, they work about 75-85 hours a week on average, more during earnings season.
An analyst doesn't need to work that many hours because he has associates doing most of his grunt work (mainly modeling and writing).
but from what I have heard, most associates work quite a bit more than that, especially at BBs. According to friends in NYC at BBs, they work about 75-85 hours a week on average, more during earnings season.
An analyst doesn't need to work that many hours because he has associates doing most of his grunt work (mainly modeling and writing).
that analysts are constantly traveling to meet with investors and attend industry conferences, so if you include travel time that could increase the projected workload.
Okay, fair enough. In Research, the interns would be "associates" rather than "analysts" as you start off as an "associate" and work your way up to "analyst" (in contrast to IBD or S&T). Therefore, my friend who as an intern at Goldman was working weekends come earnings season and thus who were working with him would have been "associates" rather than an "analysts."
7-6, 7-6:30, no weekends ER.
My other question is that, how much do they usually make compared with the IB guys? Thanks
For entry level, same base as IBD and about 1/2-3/4 of their bonus in the boom years. Last year's bonus was like a pittance, 5K-15K. Diverges considerably as you move up. Most covering analysts tap out in the mid to high 6 figure ranges all in. Only the really all star analysts and MD's MD make it into the seven figures.
Wasn't 5-15K what analysts all across the board got?
equities research hours worked and exit opps (Originally Posted: 02/07/2013)
I'm at a target school, interested in going into equity research. I was just wondering how the hours were on a typical day at a BB and also the exit opportunities after your stint as an analyst.
http://www.wallstreetoasis.com/forums/equity-research-qa-with-flake
http://www.wallstreetoasis.com/forums/here-is-how-equity-research-works
http://www.wallstreetoasis.com/forums/equity-research-faq
First, there are a finite number of analyst chairs availible, so not that many associates ever make ER analyst, most either go buy side or industry side. I've seen a few ER analysts exit of late, mostly heading to industry to work for the companies they used to cover, and a few going buy side.
Hours vary depending on time of year and how active your analyst is. During reporting season, my hours can break 90/week. Right now, I'm peeled back to 60-65 hours/week. Granted, I also have a very active analyst, we published 250 times in 2012. I think average guys are in the 50-60 hour/week range.
Accurate description. I will say that you have a much better chance of making Analyst in ER than MD in IB. An analyst might have 1-2 research associates below him, and that's it. My analyst has also published a ton; he has adopted the philosophy "when in doubt, write a note".
I'm in a satellite office (midwest), and generally work 7am to 6:30pm. Earnings season will have me working 16 hours a day Monday through Thursday, 12 on Friday, and maybe 10-15 over the weekend. Generally, weekend work is rare. Hours might get as low as 50 in the summer and slow periods.
As Overpaid_overworked said, exits are buyside and coverage company. I have seen a few full analysts take senior level positions at highly reputable hedge funds (uber-preftigious) and become head of IR for a covered company.
Have not personally seen too many associates exit, but they seem to end up at long-only AM or L/S equity if they go to the buyside. Might go to Strategy or IR if they go corporate.
I've watched a bunch of associates go to banking, my firm and friends. Enough so that it's now a question in ER assoc interviews: Are you interested in/applying for positions in banking. If you say yes, they'll say no...
This was tough question for me when I was interviewing with the senior members of my group since they all started their careers in IB. I gave solid answers... but they kept going back to why their great experiences in IB right out of college. At one point, it seemed like they were daydreaming about their glory days... talk about awkward hot seat.
How many hours / week are research associates working now? (Originally Posted: 03/07/2015)
Just want to get a sense of how much work current equity research associates are putting in every week?
I assume its still an average of 60 and limited weekends during non-earnings and ramps to 80+ and weekends during earnings? Some of the smaller banks are increasing # of names covered and giving junior guys more responsibility in terms of coverage and client contact. Are hours increasing as a result?
Seems like comp is stabilizing now at the bulge brackets which seem to be raising the base salary, but is that to offset lower bonuses or are bonuses relatively the same?
60-65 hours is bang on as the "standard". Doesn't really reach 80+ (personally) though with weekends, normally up to 75 hours with virtually non-existent weekend work. Of course, there will be those who work an extra 10-20 hours as personal initiative.
Also curious. Anybody else with some insight?
Working at a MM firm in ER right now. I think it varies a lot my team. My team puts in most hours than most, typically 70-80 hours M-F and then usually weekends too. Toss in earnings season and we are usually around 100 hours. I see a lot of other teams put in ~60 with no weekends. Largely depends on your senior analyst and senior associates.
BB, 65-70 hours (including ~5 on the weekends). I'd say my team works more than the average team.
MM shop here, put in around 70-75 hrs/week during non-earnings season. Just wrapped up my earnings for 4Q...hours increase to 85-100/week (e.g., this week I put in around 90-100hrs)...the larger your coverage universe, the harder you'll probably work. Also depends on how much you're analyst wants to "deep dive" research.
Sounds terrible, hope you're at least II-ranked.
BB, I did 55 a week, though as far as I can tell average is probably 55-60 at my firm. Couple groups do 65-75 if you have a fast moving sector. Earnings season was probably 75 at its worst. Never worked a weekend.
How flexible is research? Like if you have to do something a certain night is it cool to leave a bit earlier and make the time up?
As with anything in equity research, it depends on your senior analyst. But, usually, yes you can leave a little bit early if you have to.
Yea, I feel its all good if you get your work done. Any analyst that tells you otherwise is not someone who you want to be working under.
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