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Equity Research vs. Investment Banking: Careers, Compensation, Exits, and AI/Automation Risk

Mergers and Inquisitions

We sometimes get questions about why we dont offer an equity research course. People are convinced that financial modeling in equity research is vastly different from investment banking and that research requires different or more specialized skills. IB is all about deals , while ER is all about coverage.

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Investment Banking in India: Please Avoid It and Try Again in Another Country

Mergers and Inquisitions

based bulge brackets (GS, MS, JPM, Citi, and BofA) are the strongest international banks, and Avendus, Kotak, JM Financial, ICICI, and Axis are the strongest domestic firms. Among the bulge brackets, the U.S.-based based firms (GS, MS, Citi, JPM, and BofA) tend to perform best.

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Trading at the frontier

The TRADE

The active investment manager specialises in emerging and frontier markets trading across fixed income, credit and specialist equities. In nothing short of a baptism of fire, he took his first steps into trading in January 2007 in the build-up to the global financial crisis.

Trading 58
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Wealth Management vs. Investment Banking: Career Deathmatch

Mergers and Inquisitions

By contrast, investment banking is more about advising companies on transactions such as M&A deals , equity and debt deals , and restructuring. The first few years are very tough because you start from nothing – but if you build a decent book, the job gets easier since you’ll have consistent revenue from long-term clients.

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The Full Guide to Pre-MBA Internships: Are They Worth It?

Mergers and Inquisitions

Diversity, Equity & Inclusion (DEI) Events – These are like the “programs” above but provide underrepresented minorities (URM) with the chance to get fast-tracked for initial interviews. If you’re targeting an informal venture capital internship , private equity internship , or search fund internship , focus on smaller, local firms.

IT 59
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The prime brokerage pie is growing, which means bigger slices for everyone

The TRADE

Meanwhile, with regards to equities, revenue deriving from prime brokerage compared to trading shifted from a 30% versus 70% ratio a decade ago, to 40% to 60% in 2023. So you can see how this growth and momentum just starts to really build over time.” billion in 2023. They need a financing platform to support all of that.

Funds 68
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From Wealth Management to Investment Banking: How to Make the Leap

Mergers and Inquisitions

The work might not be for you , even if you’re good at it – for example, maybe you find deals far more interesting than building a client book or managing their portfolios. The average compensation in investment banking is higher (yes, top wealth managers can earn millions per year with great hours, but we’re talking averages ).