Post-MBA Equity Research Comp at BB
Hi all, I'm a first year student at a top-5 US MBA program and recently got an offer to join Morgan Stanley Equity Research for the summer. It is a feeder program, so ideally I would receive a full-time offer after the summer.
Comp information is very ambiguous and even the recruiter won't tell me what to expect for annual bonus ranges. Does anyone know what a Post-MBA Associate would make (all in) at an NYC BB for Equity Research? Any comp information related to career progression would be very helpful too.
Thanks!
Also curious....
I know at Citi, it's 110K base + 30-40K bonus for an Sr. A1.....
The above figure is approximately correct. Base is usually 100-130 with a stub bonus received after six months.
Beware that comp is going down across the board in sell-side ER. It may not affect you as an new hire, but the industry is under a lot of pressure.
Thanks all, this is helpful. So is the $30-$40k bonus for the full year? Or the stub bonus? I'm seeing first year associates out of undergrad getting $30K stub bonus so I'm curious.
Does not compute. Associate in equity research is an entry level position for undergrads. I doubt entry level associates are getting 30k stub bonuses.
Bump
Any update on what the all in comp is like for first full year at MS or any of the other BB for ER?
I used to work at MS, expect $40-70k bonus for your first full year. I would agree with models & bottles, sell side ER is going down across the board and even the optimists don't see it coming back... If i was at a top 5 mba program I'd probably look to other lines of business, but that's just me.
Post-MBA Equity Research: Pay, locations, lifestyle, etc.? (Originally Posted: 03/09/2014)
I work as a Software Engineer and plan on getting an MBA (hopefully, at Booth or Kellogg). I recently became interested in ER.
What compensation should I expect to receive 1, 3, or 5 years out?
Where are these ER jobs located? I'd rather live in the Chicago area or California than NYC.
What's the typical lifestyle for ER? Hours? Family life? I know that switching into the finance field will give me more hours to work and impact my work-life balance, but what is it like? Does anyone have any regrets?
Also, could socially awkward people like me succeed in ER?
Any advice/recommendations would be appreciated.
Work at a BB on a research floor, ER guys work 7-8/9 during earnings/conferences/weeks when they put out big benchmark publications, probably 8-6 outside of that.
Some firms are moving ER to lower cost centers, but that's usually more jr people/still experimental. Vast majority is still in NY. I don't think we've got anyone out in Chicago that I'm aware of. All our TMT people are here in NY as well.
More like 7-6/7 on a normal day and 6-9 or later during earnings
What industry? TMT?
Chicago isn't a hot spot for ER positions, but you can find opportunities at William Blair and Baird. Blair is based in Chicago, so that's where most of their ER jobs are; and Baird has a number of ER teams based out of its Chicago office.
Those two firms are probably your best bet if you have to remain in Chicago.
I used to work in ER at Baird, and it's a decent firm. Blair seems pretty good as well. Neither of which compares to a BB firm, though.
I worked ~60 hours per week at Baird - maybe slightly more during earnings season. It ultimately depends on the Sr Analyst, though, since some Associates worked closer to 80 hours per week.
Also, as an aside, I left Baird for a BB and more than doubled my compensation, so don't expect huge pay packages from either Baird or Blair.
I am a post MBA in ER. Send me a PM and we will chat.
@Kokanee, was your MBA from a top school? Did you have finance experience prior to the MBA? I am interested in ER but am not sure if I should get an MSF or MBA. Do you have any suggestions? I was going to PM you but don't have enough banana points. Thanks!
I don't think your lifestyle will dramatically differ from associates who are straight out of undergrad. Your hours will hugely depend on the analyst you work with. Working with an II-ranked analyst could mean you could work a lot OR the average amount...it's highly variable.
The first 3-4 years will probably be more difficult, and you'll probably need to start out in NYC. That being said, if you are good and the analyst trusts you, you can probably move and work from SF or Chicago (this happens at my BB). If you ultimately become an analyst, you pretty much set your own hours, which is great. I know guys who get in at 8 and leave at 6 (with the occasional longer workday).
ER associate Post MBA (Originally Posted: 07/18/2013)
I am new to the board. Did a little searching around the website but I couldn't find that much information. What can a post MBA associate expect to make in NYC at a Canadian Bank in terms of base and expected bonus? I would guess it is less than IBD.
What is the lifespan of a research associate? Do you work for a few years and get promoted to analyst or go to the buy side? Or are there any other careers path that develop from ER?
Any insight would be helpful, thank you.
Bump
bump again
If you goal is buy-side try to land it directly out of MBA. I don't even understand while kids head to sell-side ER - the compensation potential is awesome at a fund + there is some ownership of your work (that is my opinion + my friends who are in ER at top buy side firms.
but you will probably be making around...150-200k all in.
of course man, just keep hustlin and network!
Thanks - last question/bump. Any idea on salary expectations and bonus?
Bump again for me. Also, I am taking a writing test for this position. Can anyone explain what that might be?
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