Why do you want to go into sell-side equity research?

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numi

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From the inside looking out, sometimes I ask myself why so many people in these message boards want to go into sell-side equity research. This was a question I had asked myself several years ago before I chose to join the sell-side.

For those of you that are looking to get into sell-side eqiuty research, I'm curious to learn what aspects of the job excite or appeal to you the most, or what your motivations for joining the sell-side would be. Anyone care to share? Also, what are some of your overall impressions/preconceptions about the field?

For those of you that are already in sell-side research, what was your rationale for joining in the first place, and have your views about your job or the overall state of sell-side research changed since you first started? What are some things you like most about the job, and what are some things you dislike? Any thoughts about what your future jobs/exit opportunities might entail?

I'd be happy to share more of my own perspectives later on -- just curious to hear what some of you guys think. As for myself, I feel like I've hit a point where I'm trying to think about what I want to do with my career the next couple of years (which may or may not involve the sell-side), so any opinions that you guys can share would be much appreciated.

I hope this post generates some good discussion!



Edited 1 time(s). Last edit at Tuesday, January 9, 2007 at 01:31PM by numi.
 
Why I'm sell side = I LOVE the hours, especially during earnings season. Good times!

In all seriousness, I personally enjoy the job for the research aspect of it...to find out what makes a company tick. Although it bores many, I enjoy digging on EDGAR and finding the intricate details of each company. You get to "know" your coverage list and I enjoy following along with events. It's also fun trying to predict what's going to happen next (i.e. pointing out potential M&A activity, etc.). It has it's plusses and minuses, but overall I find it rewarding...even with something as boring as P/C Insurance Companies.
 
I always wanted to be one of those talking heads on CNBC shooting buy/sell/hold recommendations from the lip. I want to justify those recommendations with profound five second sound bites so people think that I'm really keen.
 
I feel the same way as sportsfan and Just_Let_Me_Pass. I also WANT to get into the sell-side for the following reasons:

1) There are more research jobs on the sell-side (let me know if I am wrong).

2) It is regulated, so it weeds out some researchers on the buy-side/third parties. I guess that relates to point #1.

PS- I do not have a research position on the sell-side yet. So I was wondering how many working hours are we talking about (sportsfan)???
 
There are way more buy side jobs - especially with the excel monkeys getting outsourced. And regulated? Regulated by the IBD maybe. First thing I thought when I saw this was "Why DON'T I want to be on the sell side: Earnings Season". I think you're looking at 90-100+ hrs during earnings.
 
Thanks ex. I knew I would get some good info from this site.
 
KSOM Wrote:
-------------------------------------------------------
> I feel the same way as sportsfan and
> Just_Let_Me_Pass. I also WANT to get into the
> sell-side for the following reasons:
>
> 1) There are more research jobs on the sell-side
> (let me know if I am wrong).
>
> 2) It is regulated, so it weeds out some
> researchers on the buy-side/third parties. I
> guess that relates to point #1.
>
> PS- I do not have a research position on the
> sell-side yet. So I was wondering how many
> working hours are we talking about (sportsfan)???

depends where you work and/or upon your sr a (if you aren't one, like myself). On average, I work low to mid ~50ish hours/week. During earnings season or when we take on additional companies, I feel like I don't leave. Hours then are unpredictable (>70/week). I've heard stories of the 90+ hours that ex talks about, but nobody here works those kind of hours. At least nobody I know of.
 
sportsfan,

those hrs sound reasonable. Are you in New York? doesn't location make a big difference?
 
money is better on the sell-side?

Not if you are at a well performing HF
 
Still don't think money is better on the sell-side...

Am I the only one that thinks this? I have buddies working as analysts on the buy side at a 5B fund that make 100k base and this year 150k bonus...
 
"I have buddies working as analysts on the buy side at a 5B fund that make 100k base and this year 150k bonus..."

do you think that is good?
 
that would be less base than sell side and equivalent bonus, all in all less, but I talk London package translated into USD (drs you are talking USD aren't you?)
 
250k for an analyst 3-4 years out of school is good in my book. Maybe I'm off.
 
ok, I am talking about ppl my age (10 years out of school), hence the misunderstanding
and I guess it makes a big difference where you work, both in sell and buy side positions
 
well how many analysts does this 5B fund employ? 250K all in, sounds in-line to me.
 
prob 15 analysts....

Dangit Numi - I just realized I am a threadjacker - my bad.
 
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