Similar to Renjith above, I was looking for some advice on how to break into a career within equity research. I have undergraduate and masters degrees in quantitative economics but am struggling to break into junior/entry level roles within the industry without any direct investment banking experience. Since graduating two years ago, I have been working as an analyst at an industry leading economic and financial litigation consulting firm, where I have been carrying out many tasks that overlap and fall in line with tasks typically carried out by analyst/associate roles in ER. Any advice you may be able to offer would be greatly appreciated. Thanks so much.
A buy-side analyst usually works for a pension fund or mutual fund company. These individuals perform research and make recommendations to the money managers of the fund that employs them. Buy-side analysts will determine how promising an investment seems and how well it coincides with the fund's investment strategy ; they'll base their recommendations on this evidence. These recommendations, made exclusively for the benefit of the fund that pays for them, are not available to anyone outside the fund. If a fund employs a good analyst, it does not want competing funds to have access to the same advice. A buy-side analyst's success or talent is gauged by the number of profitable recommendations he or she makes to the fund.
I am looking to get into M&A although I am not to sure that I’ll succeed without getting an MBA first (I am currently working in Risk Mgmt and have a non-finance background). Would you nevertheless recommend applying for the full-time M&A job before going to business school? I’m wondering whether I should be worried about not getting in after obtaining my MBA as a result of my ‘bad performance’ the first time. Do they keep records/… or am I not risking anything by applying now and try again within ‘2’ years?