thanks for the reply
i am asking about when you can leave for home normally. i don’t want to work for more than 12 hrs. Also if thats so then which are the other options in finance with good work life balance i.e. having max 12hrs working day?
also can someone with a management background and a fresher get into equity research ?any scope ? thinking of giving cfa exam next year though
What is a fresher? Also, focus on getting into equity research first…then worry about the hours. Given your backround, the likelihood of you getting a job in equity research is low.
Fresh grad?
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dude, if the guy somehow cons his way into SS research, and then proclaims he won’t work past 12 hours a day, he’s instantly on the chopping block
Less than 12 hours a day is impossible during earnings season. You’d be lucky to get 12 hours of leisure time during the entire week.
sir how far the hours can extend during earnings season? it would be different in india right ? from the above posts i conclude that working hours would be 10-12hrs during non earnings season and depends on the company in india. Also the Earnings season does mean the full month or just a week in the quarters ( jan,april,july & oct) ?
fresher = person with no work experience
I know a few people in ER and they tell me that it can go as much as 15 hours.
Only around earnings period, especially for foreign investments. They have to sit around and wait to process any new information that gets relased, and adjust accordingly, then take calls from clients.
That also completely depends on the firm, coverage size, and coverage extension.
Oh that’s much.I probably should not pursue this then. Sir can you suggest any other options in finance where hours are decent?
^ It’s during earnings season, although outside of it you can easily do 10-12.
Equity research should have the second best balance for life and work out of IBD, ER, PE, and AM.
Best one is probably Asset Management, assuming you’re dealing with mostly local investments. But even then, earnings season can be a b!tch. But at least you get less work for as much hours.
Then you have to take into consideration youre position seniority. A director or MD in any department will have a comfortable life and astronomical pay (more stress in buyside, more hours in sell side).
10-12 hours not an issue would be fine, but 15 hours is much . when is the earnings season (as far as I know It is probably the quarters Jan,apr Jul & oct )and how long it lasts. I mean would it mean working 15 hours work day the whole month or just few days of the quarters?
Thanks for the reply sir. Can you suggest which are the other options in finance that have decent hours max12 hours a day.
lol. i never thought of it like that. sell side prolly does have it worst. they have to talk to the buyside who prolly knows a lot about it so you gotta be in tip top shape. constantly.
Best option for minimal hours is trading. Next working in corporate or perhaps a financial regulator.
As someone that used to be a coverage analyst on the sell side before moving to a hedge fund, I agree with this entirely.
If you are one of the few brilliant sell side analysts that consistently makes good calls, buy side guys will sing your praises and you will get paid big.
In the next tier below, you are someone decent at your job and buy siders will call you every so often to get your industry insights or channel checks. You or your team will get a few client votes and you’ll earn decent six figure income year in and year out.
Then if you’re one of the other sell side analysts whose coverage universe is too big for you to handle, and you bite off more than you can chew, you will be the constant source of derision. Buy siders who know the names better than you will haze you if they’re mean or just disregard what you say if they’re nice. But the worst part is that it’s not just the buy siders who will dog on you; they will tell their institutional sales guys and traders what a huge steaming piece of sh!t you are. And everyone, except yourself, will likely know of your reputation. At the end of the year or two if you’re lucky, you will probably be asked to leave because you’re not bringing in enough revenue, and the only person surprised by the outcome is you.
I guess the key takeaway here is that if you’re a sell side associate or more importantly a coverage analyst, you better know your stuff. Smart buy siders will know the names better than you. Be humble if you’re not a coverage analyst that’s on top of your game. And if you’re an associate, try not to take any client calls till you’re sure you’re ready. It’s always better to save face than to look foolish early in your career.
Exactly. Not only in terms of how many hours the market is open. Most successful traders I know “work” a few hours a day. The reason is because most aren’t successful at every hour of the day. Some are great when there is great volatility (open and closes), others are good when there isn’t as much craziness (11 am to 2 pm), some is during economic numbers or Fed minutes, others is 30 minutes before or after economic numbers or Fed minutes. The great majority have a sweet spot and it isn’t worth it to trade outside of that sweet spot.
When I interned in an AM firm before, I saw junior analysts taking calls from clients and explaining to them the sector they were responsible for. These guys were only 3-4 months fresh on the job. Isn’t buy side all about calling the shots? It wasn’t fundraising either, it was the biggest firm in the region.
Sounds to me like the blind leading the blind. Doesn’t matter that your firm was biggest in the region - your colleagues were still underprepared if they’re looking for sell side juniors to field their questions. Happens a lot on Wall Street though, and that’s why there are winners on one side and losers on the other. Maybe I’m being harsh but I have worked in asset management too and I generally think the relative returns folks aren’t quite as sharp as the absolute return guys like the hedgies. I know there are exceptions to every rule though, and I like to befriend as many of those exceptions as I can.
You might have misunderstood my question.
Do investment managers at BBs still have a sales role? The PM takes care of the fund prsentations, so I’m guessing the analysts are keeping up the clients with any changes in the stock selection or weights? I heard one of the junior analysts who was a fresh grad, discussing a real estate stock that “they” believed was undervalued, and explained why on the phone. From what I understood, it didn’t matter if he was right or wrong with his call, as long as it was justified, then he was doing a good job.
Edit: Quick question, I have a final round of interview with the MD of another firm for ER junior analyst, what should I expect and how do I prepare? The technical part was already done by the ER team. Will salaries be discussed?