Hey everyone! I’m currently a recent grad looking to get into finance and could use some advice on my career path.
My ultimate goal is to work in Investment Banking, but I know it’s super tough to get into IB straight out of college without connections or a degree from a top school. So I’m thinking about starting my career in Equity Research first since it seems more accessible and I actually like doing financial analysis and company valuations.
I have a few questions for anyone who might have experience with this:
• Is it actually possible to make the jump from Equity Research to Investment Banking down the road without getting an MBA?
• What specific skills or experience should I try to gain while working in ER to make myself attractive to IB teams later?
• Do Investment Banking groups actually respect candidates coming from Equity Research backgrounds?
• Is there a point where you’ve been in ER too long and IB becomes unrealistic?
I’m already studying for my CFA exams and trying to get better at financial modeling on my own time. Any insights from people who’ve made this transition or know others who have would be really helpful. Thanks!
Totally doable, but timing is everything. I’ve seen analysts make the jump from ER to IB in their first 2-3 years, but after year 4 you’re pretty much stuck on the research track. Sweet spot is 18-24 months - you’ve got solid modeling skills and industry knowledge without being typecast yet. Your CFA work actually helps since it shows you’re serious about finance fundamentals. Build relationships with IB coverage teams that work with your research group - they’re your best shot at internal referrals. The big thing is proving you can handle deal execution, not just analysis. Get involved in any deal-related research or reports that support live transactions.
Smart plan! Research gives you solid technical skills that banks actually want. Stay hungry, keep networking, and don’t overthink it - tons of successful bankers started right where you are.
It’s totally doable, but you’ve got to position yourself right from the start. Your research background actually gives you some solid advantages over typical MBA candidates - you know the sector inside and out, you’ve got buy-side connections, and you can handle complex financial models when things get hectic. The trick is showing you can think like a banker, not just an analyst. You need to develop views on strategic rationale, market timing, and execution risks - stuff that matters when deals are actually happening. I’d target boutique investment banks first. They appreciate the research background more than bulge brackets do, and you’ll get better deal exposure. All that credibility you’ve built covering companies? That’ll pay off when those same management teams become acquisition targets or go public. Most important thing - stay visible with banking teams at sector conferences and management meetings. Those casual conversations often matter way more than formal applications when jobs open up.
depends on the bank. some love research people since you know companies inside out, others think you’re too academic. works best when they’re short-staffed and need someone who can jump in with sector knowledge. don’t get stuck in coverage forever tho - grab any m&a research projects you can, even if it’s just supporting fairness opinions.
Made this exact move three years ago! The transition’s totally doable but you need to be strategic. The modeling skills helped, but what really made the difference was understanding deal flow and market timing from research. When I interviewed for IB roles, they loved that I could talk intelligently about sector trends and already had relationships with management teams. Here’s a tip nobody mentions - volunteer for any IPO or secondary offering research your team handles. That’s the closest you’ll get to actual deal experience in ER. Your research background is also huge for due diligence work. Just heads up - research is way more collegial than banking, so prepare for a culture shock!