Need advice - Sell-side Equity Research career

Water Cooler Careers
#1

Dear fellows,

Currently student in TOP 10 french bus school, equis aacsb blablabla…

I’m willing to join an equity research team and I would be happy to receive some advices on the opportunities I’m being presented. I got some interviews for internships:

  • SG CIB equity research team on SMID, with IPOs participations: sounds very good and provides opportunities on ECM? location:Paris

  • HSBC CIB equity research team on Banks: Large cap, banking sector analysis is famous isn’t it? location:Paris but HSBC is global

  • Exane still do not know sector but location in London ! Exane is the broker of BNP Paribas.

I will appreciate some inputs from worlwide analysts that could tell me which company has the best recognition and which sector offers the best opportunities for the future (in terms of employment etc.).

I will graduate at the end of the internship.

Thanking you in advance ! I hope I will have choice haha

#2

you are willing to join an equity research team? that makes it sound like a hardship for you. personally, I’m willing to be a billionaire, you know, in case anyone tried to force it on me.

I would do the 1st internship you mentioned. if they force you to take the job. hsbc is global, but I wouldn’t put that much stock in it. as long as the companies are respectable, job experience comes first

#3

Good man. Someone tried to force me to do it but I couldn’t handle all the responsibility so I politely declined.

#4

I’m guessing that’s a language issue guys, this guy’s tone isn’t at all like Mr. Vandy “if only research knew how good my insight is.” Anyway, SG isn’t as global as HSBC, but they do play everywhere. I dealt with some SG Frenchmen in my backwater Texas of the North slum. Its not like its a job at the local credit union. SG is globally respected. If its the better role, then go for it. In terms of SG vs. BNP, I’d much rather live in Paris than London myself, but that’s just me. Perhaps this Frenchman wants the easy pickings that English girls will be… Bonne chance dans l’interview.

#5

:slight_smile: merci

Yes it was a language issue, for me willing was synonym of wishing.

I’d also like to stay in Paris, but the sky looks better in London ( I mean for the job market :wink: ).

I am surprised that you guys would choose SG instead of HSBC, is it because of the brand name or the sector under coverage? (Small&mid caps vs banks)

And also, is Exane / BNP a better name than SG/HSBC? I was wondering if an internship in the city would be the better choice?

Thanks!

#6

I’m not in ER so take what I say with a grain of salt, but I think there is way more opportunity for a guy with top shelf skill to impress playing with small caps than publishing a consensus estimate +/- 1% on large cap banks.

#7

Yeah it was just too good to pass up, this guy seems legit

#8

My suggestion would to to rank them in the following order (assuming this is an internship and not a first job - ranking would be slightly different):

  1. Sector - While you can switch sector coverage later in your career its much easier to get exit opportunities in a sector you already have experience in, so pick one you find interesting.

  2. Location - I’m not sure how it works in Europe but in the U.S. its very difficult to find a job in NYC if you’re not already in NYC. Being in a finance focused city will improve your career options down the line. Also living in a city you like will keep you sane.

  3. Large cap/small cap (this is much more important if it is a job versus internship) - Always go with larger cap in sell-side research. Having differentiated small-cap research is nice but honestly very few buy side clients will care. You’ll have a lot more exposure covering large cap names and it’ll give you the best exit opportunities.

#9

Ok thank you guys ! this helps a lot

In europe it is the same, quite hard to find a job in a city if you’re a foreigner. London seems a good option :slight_smile: