AuthorTopic: equity research
John1965
@2003-06-04 11:07:12
Anyone in equity research? I was wondering what typical starting pay was with a MS in Finance from an average school and no experience.
Vanilla
@2003-06-04 11:22:53
Just north of $40,000.
Payer
@2003-06-04 22:33:22
It can vary depending on the region of the Country (USA). I would not expect more than $38,000 to 45$,000 though.

When I got my first research job as a freshout, I was low-balled (mid 30's). There were dozens of qualified applicants to chose from. You will start off very low, but if you are very good your salary will almost double in two years and triple in 4 years. If you suck you will be fired by the end of your first month. They do not mess around!

I strongly suggest getting to know someone in the industry (who has a good reputation). They will open up many doors for you that you would otherwise never see.

Have fun!
Joyless
@2003-06-05 06:52:17
Why does everyone that didn't go to a good school think they went to an avrage school. Guess what...no one in the industry is interested in average. If we were, we'd all be indexers...Western Arkansas State A&M is not an average school...
pacino
@2003-06-05 12:34:12
It's funny cause it's true.
serious
@2003-06-05 17:25:29
with a masters? just north of 40? that sucks!
Vanilla
@2003-06-06 10:46:41
It might suck to begin with, but the competition is so great that they can low ball you. If you don't like it they can find 50 people with credential equal to, if not better than yours, who will.

Once you "pay your dues" your career and salary will advance rather quickly. I would easily take an analyst job starting at $40k over a Corporate job starting at $60K. Trust me!
Joyless
@2003-06-06 12:18:58
so I'm being offered 48K in Chicago, working 50-60 hrs a week.. no bonus to little bonus.. I guess I should take it then?
Payer
@2003-06-06 19:40:18
If it is actual equity research, with a firm with a good reputation, take it.

Thank me 5 years from now, when you are making $100K with a $80K bonus.
Joyless
@2003-06-06 23:52:13
its actual research. I'm interning there... its a small shop and a small group, so the upside is I'd learn a lot
greedy
@2003-06-07 13:04:10
Hey Joyless:
As a PM I could give a shit where you went to school. All I care about is you know what your talking about. Generally I have found that the ivy league ego gets in the way of common sense.

I'll take a grinder that does their homework over a ivy league princess anyday.
Joyless
@2003-06-07 17:26:12
So you completely ignore the education portion of the stack of a hundred resumes sittng on your desk? Yea, right!
Bendo
@2003-06-07 18:58:31
I would suggest working in an industry that you would be interested in following, maybe 3-8 years or so, then hop over to Equity Research, your familiarity and knowledge of the industry you will be an "expert" in will be that much greater.

Just my 2 cents
BobYang
@2003-06-07 19:37:15
That's an ideal path, but that move is very hard to make.
BobYang
@2003-06-07 20:01:16
First, no one mentioned the words "Ivy League". Joyless said "good school". There are a lot of good schools that aren't Ivy League.

Second, if they're truly a "grinder" then they should've worked hard enough as an undergrad to get into a good school.

Third, there's a better chance they "know what they're talking about if they didn't go to Western Arkansas State A&M, but instead somewhere where there are quality faculty that can teach something.

Finally, if they really had any "common sense" they would've known that it's damn nearly impossible to get a good job in this industry from an average school. Either that or they had no idea what they wanted to do, wich is a minus in my book. I like people who know what they want.
Ventura
@2003-06-07 22:33:03
My only advice, is it doesn't matter what you initially start out at (I'm presuming you're straight out of college). Go somewhere where you can learn from smart people. 35K, or 45K, there's really not much difference. What matters is what you're making five, ten years from now.
lulu
@2003-06-08 02:14:43
Yea. Whatever it is, yours is too high.
CUNY
@2003-06-08 06:15:41
I was just offered a MBS analyst position, which I'm going to accept on Monday. I was offered 50K, 2.5K signing, year end bonus of 5-20K, tuition assistance, 401K w/big match, equity in company investment fund. Previously, I had an equity research spot at an ibank that was rescinded. There, my offer was 55K + 10 signing + 15-40K bonus. In NYC, you should hit at LEAST 45K first year.
RackFlair
@2003-06-08 11:27:24
I could not Disagree More,

First Rule you'll find out in the proffesional world: The "A" student work for the "C" students, Why , because the majority of "A" student are people who know how to think in the box, they don't have the social skills and are not as well rounded as the "c" student who worked a part time job and was into the social scene.

The C student knows how to impovise to balance all the facets of his life, While the "A" student only knows how to study.

Being well rounded (having socail skills and being a multi-tasker) as well a hard worker and ambitious is what will get you the job and keep you getting promoted.

Who gives damn if you're triple major straight "a" getting vali-dick-torian.

to tell the truth college is a krock of shit anyway..

Programs like the CFA is really where you learn and plus it sets apart who really wants it and who are the slackers.

C students rule
Admin
@2003-06-08 23:41:52
Thanks for your comments on salaries. Could we start another thread regarding this? It is getting too long and hard to follow.....
GWBush
@2017-12-24 06:59:46
Getting ahead is 95% social skills. Hard work and intelligence do not equal success.

Think of it this way. In a law firm, the partners are not comprised of the best lawyers. The partners are the lawyers who bring in the most clients.

Just found this thread of 14+ years ago. LOL!

CFA Discussion Topic: equity research

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Your review questions and global ranking system were so helpful.
Lina

Lina