so what's ER really like now, anyway?
Background: I did an IBD rotation program a bunch of years ago, which included a 3 month rotation in equity research.
I enjoyed research.
I liked learning about new industries, new companies, new technologies, etc.
Writing came relatively easily for me, and the modeling was not as crazy as in PE (once you have a model for a company, chances are you can re-apply it later).
A) So what is the industry really like now?
When I talk to professionals in the industry now, they complain that the job has changed.
I hear:
a) it's become an equity sales job, that they are spending nearly all of their time on calls with the buy-side,
b) that the pay has gone down a lot,
c) that buy-side is now being billed directly for research which makes things harder...
d) that they fear too few people read their research these days, as opposed to buy-side writing their own research
e) is there a huge amount of time pressure, to write, to generate ideas, and to do so quickly?
f) pressures on rankings
g) pressure to generate unique insights that can move a stock or benefit from some insight
h) how can you get insight anyway without having material non-public info?
And how does one generate real insights in research these days?
My former employer was well-known for being a maverick, doing a lot of primary research (surveys, etc.), and of writing thematic books (new industry initiatition top-downs, etc.).
How can that be leveraged?
B) If I do want to re-join this part of the finance industry (I'm in PE now, turned 40 recently, but I did seem to enjoy the research and writing aspect)
a) is it even possible? Do I really have a chance, especially if I haven't published in a decade?
b) how can one try to re-enter the industry if one has ?
c) Would anyone even take me seriously?
d) And what might my path to getting back in look like? Network, have a sample report that I write up, and pass around to recruiters and others?
e) How can I deal with not having the benefit of starting as a junior making mistakes and trying to promote up?
How can I try to wedge in as a mid-level?
Hey earthwalker7, sorry about the delay, but are any of these useful:
You're welcome.
Enim quasi omnis autem. Sint earum harum quos nisi aspernatur ipsum. Est magnam ad neque fugit ea reiciendis sed. Nobis optio libero est ea omnis. Maxime aut eum ut et occaecati. Est quia repellat quo facilis ipsa omnis. Et quo minima neque quo unde sed excepturi.
Est dolorem eligendi corrupti ut. Laudantium dolorem ut reprehenderit ipsa ab. Nesciunt hic facere vel illo ratione in. Vitae corporis quidem quos laboriosam. Deserunt magni quibusdam enim impedit.
Repudiandae non quia harum non asperiores consequuntur itaque. Ex autem perferendis qui repellat ex. Voluptas consectetur rem amet velit enim nulla. Nihil quae at eligendi laborum rerum molestias aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...