Equity Research Primer (Salary, Pros and Cons, Recruiting)

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Күн бұрын

💡 Land a top equity research job by building financial models, analyzing public companies, and writing investment reports: bit.ly/PF-EquityResearch
📚 Free tutorial on projecting revenue builds: courses.peakframeworks.com/co...
Equity research is a great career path in finance that combines understanding public markets, interacting with investors, and deeply researching industries. It is a career path with strong exit opportunities into hedge funds, corporate development, IR, and typically has a much better lifestyle than other front office finance roles. In this video, we'll do a complete breakdown of the career path, the salary, and the pros and cons.
Full Blog Post: www.peakframeworks.com/post/e...
0:00 - What is Equity Research?
4:00 - Salary
5:36 - Pros and Cons of Equity Research
7:14 - Recruiting Strategy
Peak Frameworks is a business career prep service started by Matt Ting and Patrick Fong, who have each spent several years working in investment banking and private equity in New York and Silicon Valley. Matt and Patrick met at Evercore, a top tier investment bank, and over the years have tutored and coached dozens of candidates to land their dream business job.
Matt Ting: / matthewting
Abdul Tambal: / abdul-tambal-cfa-8778963b
#EquityResearch #StockMarket #PeakFrameworks

Пікірлер: 38

@BenWeissman1 2 жыл бұрын

I got a PhD in chemistry before doing 3 years in ER (eventually moving to the buy-side), so I can confirm ER is a great entry point for folks with non-finance backgrounds. Overall, thought this was a very thoughtful and reasonably accurate video. Keep up the good work.

@PeakFrameworks 2 жыл бұрын

Thanks Ben, appreciate it!

@jingming601 Жыл бұрын

Hi Ben, nice to hear this. I have a PhD in pharmacology and work in a biotech company now. I want to transit into ER. Could you share your experience getting into ER with PhD background? What skillsets did they need and how did you get and prepare interviews?

@qikong7269 Жыл бұрын

Thanks a lot for sharing!

@sarveshharhare8423 2 жыл бұрын

Hi, thank you for such videos regarding various career paths like IB, PE, Hedge Funds, Corp Dev, Equity Research. May I ask if Asset Management, Sales and Trading primer videos are going to be covered in the future?

@gabefung44 10 ай бұрын

I became a VP in biotech as a PhD and was paid $250k+ (base) before leaving to do Business Development in the industry. Your video is on point, but here is something that is misunderstood: the most successful ER employees work just as hard and long as Bankers, while the 80%+ others don't make it far and work 55hrs per week. I easily hit 80-90hrs weekly for 5 years straight. In addition to regular qtr EPS calls, I covered 6 major medical conferences each year (these are worse than earnings seasons), and also hosted subject matter calls and surveys almost on a biweekly frequency. This is in addition to marketing quotas we need to meet. Overall, I appreciate your video as I think a lot of people do not appreciate the ER field much and your video sheds light on it.

@benjaminli3808 Жыл бұрын

Is there a preference for certain careers when applying for business school? Is there a disadvantage to staying in IB for 4 years then pursuing an MBA?

@eddierosario1537 Жыл бұрын

Can your courses help people get into equity research that didn’t go to a target school

@dcdc4973 2 жыл бұрын

Hey Matt, Could I ask a very quick clarification about the ER course. Does it teach one how to set up/organise quarterly models? I am in IB and interviewed for a couple of top hedge funds a while back but was pretty uncomfortable with laying out quarterly projections and linking them with drivers etc. I did PF’s PE course which was incredible!

@PeakFrameworks 2 жыл бұрын

There's one really extensive quarterly model done in the exact style of an equity research model, but most are annual models. Should be enough to help you out though. Glad you enjoyed the PE course!

@Dave-bu6iz 2 жыл бұрын

Great content as always Matt! I’m from a mining industry background trying to break into finance (essentially I want to work in something that combines the technical and financial components). I’m currently pursuing a CFA. Did you see CFA a good path leading into ER (from other industry to finance) or should I go for a MBA?

@abdultambalpeakframeworks6663 2 жыл бұрын

Getting your CFA can be helpful as it shows interviewers you're serious about pursuing a career in ER and that you have a broad understanding of investing topics, especially if you're coming from a non-finance industry. MBAs can be useful as they would open up the door for on-cycle recruiting, but are a lot more expensive. You can definitely land a job in ER without an MBA if you focus on self study and network with people in the industry.

@Dave-bu6iz 2 жыл бұрын

@@abdultambalpeakframeworks6663 thanks Adbul! Appreciate it

@therankmaster9279 5 ай бұрын

Is ER the best job to get me into a hedge fund?

@laurencetarquinio6716 2 жыл бұрын

Out of these options which do you think is best for SA before senior year. MF PE (or top shop) for real estate equity/credit, MM pe firm outside of NY, or consulting? I feel like I will have to make a decision soon. Seeing this video on ER makes me think about how interesting this field is too but not going to add that into my already long list of potential paths 😅

@PeakFrameworks 2 жыл бұрын

Those options all seem good, but divergent enough where you need to think about where you personally want to be. If consulting is MBB I'd probably say that's your overall best option. Otherwise I'd prob do MF PE and just know that you'll probably get funnelled a bit. It's not easy getting out of RE / credit

@andersonfuller 2 жыл бұрын

Coming from medicine and trying to break into finance I've realized that equity research is the path I should take to eventually get into a hedge fund. Matt, what are your thoughts on ER as a viable post-MBA role? Are there as many barriers for post-MBA ER associates breaking into the buy-side as there are for post-MBA IB associates breaking into PE? Or, is it preferable to finish a medical degree and pursue highly specialized healthcare ER? As always, great video. Good to see a Canadian finance boy making videos that everyone can use. Western represent!

@abdultambalpeakframeworks6663 2 жыл бұрын

Hi, ER is an extremely good path to pursue following an MBA. I would say there really aren't any barriers for post-MBA ER associates breaking into the buyside, and have seen it happen many times. Hedge fund recruiters would reach out to you depending on your relevant experience and industry knowledge. We've frequently seen MBA grads land entry-level buyside jobs after working in ER. Finishing a medical degree that you may have already started would definitely set you apart if you're set on pursuing healthcare-focused teams, though it definitely isn't mandatory.

@andersonfuller 2 жыл бұрын

@@abdultambalpeakframeworks6663 Sounds good - I'm committed to finance, so at this point, medicine seems like a sunk cost. I think I am going to defer one more year and apply myself fully to finance and if it doesn't work out, I will return to medicine. Thank you, Abdul.

@nicholaschoi8096 Жыл бұрын

Do you need to go to a target school for ER? What exactly is the path to ER?

@PeakFrameworks Жыл бұрын

I think it helps as always, but no you don't. A lot of people start in healthcare / other industries then go to ER. You have to be a bit more proactive in ER.

@johnnyj1969 Жыл бұрын

Hi Matt, your LinkedIn profile doesn't work I have an equity research interview coming up, I have no idea what sort of question may be asked could you help me?

@Harold1526 Жыл бұрын

Im trying to get an Equity research job. Is this job that you are applying an entry level role? I’m looking for a break to get into it.

@MrFlamingTacoMan 2 жыл бұрын

Few things are off. I worked at a boutique and a bulge bracket- never worked less than 55 hours a week. The salaries seemed dated. I'm making 200k base this year and I'm guessing 40% bonus at associate II. 4 YOE

@planningpersonlaidbackdeep1273 Жыл бұрын

Hi. Dumb question. Where do I find Equity Research jobs? Do I just search on Indeed? I did in depth research reading 1000s of pages to do issue specific papers in graduate school. This sounds fascinating. Thanks.

@MrFlamingTacoMan Жыл бұрын

@@planningpersonlaidbackdeep1273 I'll coach you for $50 an hour but no free help sorry

@planningpersonlaidbackdeep1273 Жыл бұрын

@@MrFlamingTacoMan Thanks for the offer. But that's more then 1 days pay for me. I have an MPA and I've done deep research on organizations. I guess I am now researching my question lol.

@derpyhuman1583 Жыл бұрын

@@MrFlamingTacoMan making 200k base yet asking for 50 an hour for a simple question 😂

@jjmm1415 2 жыл бұрын

Hey Matt, I'm currently a student in HKU and i got an offer from goldman sachs hong kong. My plan is to take the job work for 2-3 years and then get an MBA in ivy league. If I take this path will i be able to work at black stone or kkr or cvc?

@PeakFrameworks 2 жыл бұрын

Yes, I think so. That seems like a solid plan

@jjmm1415 2 жыл бұрын

@@PeakFrameworks One more question if I may. Will this route apply the same if I work as an mbb business analyst?

@Shmuel14av Жыл бұрын

Do you have a coupon code for the course?

@PeakFrameworks Жыл бұрын

We actually just lowered our price for this course!

@vishalsowmyan6753 2 жыл бұрын

Is it difficult to lateral from ER to IB? What is that process like? Thanks for the great video.

@laurencetarquinio6716 2 жыл бұрын

You can def go from ER to IB or even ER internship to IB ft. ER has a lot of good buy side exits (as good as top IB) and is less sweaty than IB.

@abdultambalpeakframeworks6663 2 жыл бұрын

Moving from ER to IB is relatively easy, especially as there is considerable overlap in the skills required to succeed (valuation, modeling, etc.). IB teams frequently reference ER reports as they ramp on certain industries or companies they could be working with, so some teams may already be familiar with your team's work. Some banks frequently share internal transfer opportunities among their junior analysts, and encourage transfers to other areas of the bank such as Sales & Trading and IB.