Hi all, I was wondering what all website/info one should know or be familiar with for a role in Pharma/biotech equity research. Many thanks
You going for an interview? Do you have any kind of a background in that field? If not, then there’s no point trying to fake detailed knowledge. It would look good to have done some homework however. Know the names of the major companies in the sector. Have a basic knowledge of what they do. Try to drag up and read as many research reports as you can on the sector so you know the issues that are relevant in the sector now. Try to find any initiation reports you can in the last year or two. They tend to give a detailed company and sector overview. If you do that, then you’ve really just got to sell yourself in the interview. Make them believe you can do the job better than the other applicants.
Thanks Cars0n. I have been doing that. Infact I made a investment thesis and sent to the anlayst. I am currently working in healthcare consulting while looking for research roles in pharma/biotech research. I was offered 3 months of intership for £1500pm in London in a boutique. Considering that I am employed paid £45k, I was wondering is it worth doing this. I am suitably qualified with strong pharma/biotech education and industrial expereince - Cambridge PhD, Oxford MBA and Level 2 candidate. So still undecided. I would be keen to know thoughts of the veterans. Thanks
Thanks Carson. I have been doing that. Infact, I made an investment thesis and sent to the anlayst. I am currently working in healthcare consulting while looking for research roles in pharma/biotech sector. I was offered 3 months of intership for £1500pm in London in a boutique. Considering that I am employed paid £45k, I was wondering is it worth doing this. I am suitably qualified with strong pharma/biotech education and industrial expereince - Cambridge PhD, Oxford MBA and Level 2 candidate. So still undecided. I would be keen to know thoughts of you veterans. Thanks
Are you employed in acedemia now? It sounds like you’ve got an excellent CV there so I would have thought your prospects are good. Taking the internship could be a good idea but it is also risky. You lose your current salary with no guarantee that you will get a job offer at the end of the 3 months. Is the analyst you sent the investment thesis to is looking to hire a junior analyst to work alongside him/her or is that analyst at the firm offering you the internship?
Hi Carson, I am working in a healthcare consulting company. I worked in industry and then in academia before I went to B school and completed the MBA when things are haywire. I have been trying to get into Equity research but no success yet. I sent my investment thesis to the analyst and he has met me twice. Currently, they are two senior analysts and one intern to support them. During the meeting, he told me that intern is not aware of anything specific to life sciences sector such clinical trials etc etc and he thought that I will fullfill that void. He says that they are planning to have one senior anlayst later in the year and a junior analyst to support the team. He also said that if things go well they can recruit me for £40k- possibly as junior analyst. I do understand the intership is valuable for entry but I am employed. I would imagine, a fair employer would put you on probation instead of paying ultra low intern salary + a ‘possible’ salary less than my current. I imagine intern salary is £29 to £36k in the city? I got similar offer from Soc Gen but denied as they told me that they will not hire after 6 months of intership. They have the intership cycle to cover for whole year. Let me know what do you think with your experience. Many thanks
Ok. I understand your situation a bit better now. If you have met the analyst twice and been offered the internship with a view to a possible permanent position then in my opinion the analyst is probably being genuine in wanting you aboard. However the terms you have been offered are very poor. Like you say, a 6 month probationary period on full salary is a lot more normal than a 3 month trial on less than half your current pay. Even the potential salary you are being offered is less than you are on now. On the other hand, the actual position that you could potentially be offered sounds to me like a great opportunity. You want to get into front office finance and with your background working as an equity analyst in your field of speciality is ideal. I think they are being unfair in the terms they are offering but then it is an exceptionally pro-employer labour market right now and it is their perogative to exploit that. They also know that the carrot they are holding out for you is very appealing so you might be willing to take up their offer despite the low pay. It’s a tricky call I think. For me it would depend on how perilous my financial situation was - can you afford the pay cut - and how credible I found the assurances from the analyst that I would be offered a permanent position at the end of the 3 months. I would not assume any loyalty on their part however even if you make the move. Hopefully you’ll get the input of some others on here. As an aside, isn’t it amazing to see the turaround in the labour market over the last 3 years? In 2006 they’d have offered you a job straight away on 60k with the assurances that it can only go one way. Now they are low balling you and putting you in a very uncomforable position. Earnings deflation has been very significant in financial services over the last two years. Hopefully we are near the bottom of the cycle now and things pick up from here.
My experience is that if you want to get into the industry you sometimes have to take a step back, but this is a giant leap back. I was in the same boat as you are right now. I have a degree in Lifescience and was doing my MSc. nanoscience when I got into the equity research. They offered me like 20% less than my former job. Anyway I got in. started CFAstudy and got laid off few months ago (still unemployed). In your case it’s even worse I got half year probation. How much risk can you take? Do you have a partner with steady job? So think carefully.
Indeed, it is a tricky situation. Sherbeer, based on your experience what do you think should be the right salary. I have shown interest, motivation but really don’t want to be exploited or take on excessive risks.
sherbeer if he doesnt take it maybe you should send your resume to them?
Carson gave good advice here. In addition, you really have to carefully diligence the bank and the analyst that you’re working with. There are a lot of people covering pharma and biotech right now, and it’s really easy for them to try to sell you on what a great opportunity it is to get into equity research – and indeed it could be – but the pay they’re giving you is not so good, and so I’d be curious to know what else they are doing for your career. What type of firm is this? By the way, most entry level positions in equity research are pretty similar. However, to the extent that you have specific questions about biotech or pharma, I may be able to help because I used to follow those industries when I was in sell-side research.
Numi, Can I have your email ID please? Thanks
it’s “porcupines” at gmail dot com