Anybody here in Equity Research?

On the sell side, the CFA designation carries more weight than an MBA. Most shops will prefer their analysts to be charter holders, or in the process of obtaining the designation.

Just to clarify, the roles of analyst and associate are flipped between ER & IB. In IB, analysts are usually lower in seniority, and associates are higher up in the food chain. In ER, the analyst is more senior and leads a team of associates that cover a particular sector or industry.

The salary range is really wide. It really depends on your experience, the employer, and how much revenue your research generates through the trading desk. Some banks now charge a flat fee for their research instead of a commission based model, so base salary is relatively low, with substantial annual bonuses based on performance.

It's really difficult to pinpoint a specific figure. I would expect base salary between 60k-80k, with total compensation between 80k-120k.

Don't need a CFA but it helps.

Most important thing is experience and timing.

I've hired 5 equity research associates over the past 10 years and CFA wasn't a consideration at all. However, experience, brains, and desire were important factors. All about the timing though. If someone quits in October, I'm hiring best available in November.

Pay right now Is wide ranging. Base is higher since 2008. Probably $90-100k to start. Total comp $120ish to start. Can ramp up to $200ish in 3 years as an associate.

Lifestyle is infinitely better compared to IB.

Hope this helps.

Thanks for the replies everyone.

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Pay right now Is wide ranging. Base is higher since 2008. Probably $90-100k to start. Total comp $120ish to start. Can ramp up to $200ish in 3 years as an associate.

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Is post-MBA compensation higher or does an MBA not matter? What is the typical percentage of bonus in the ER world for Associates?

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I've hired 5 equity research associates over the past 10 years and CFA wasn't a consideration at all. However, experience, brains, and desire were important factors.

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Have you hired people directly from the industry, let's say the energy industry, to cover oil and gas stocks for example...because they understand the industry and players well?

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Lifestyle is infinitely better compared to IB.

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How many hours per week do ER Associates work typically? Also do they work East Coast hours?

No real difference in pay for MBA vs non-MBA. True meritocracy. That said, MBA candidates generally are older with some experience. So, it does help to get in the door. But, once in, advancement more about performance and luck.

Pay less variable post-2008. First year associate will have about a $90k base and $20-30k bonus while third year associate will have about a $120k base and $80k bonus. That's what my two associates are making now.

Hiring from industry is always ideal.

My guys come in around 6:30am and leave around 5pm. Never work weekends. But, that too is variable and 100% dependent on the senior. Some guys get off on working their guys hard. But, they are in the minority. I don't know of any associates that work weekends on the ER side.