Potentially ignorant question: what would "institutional equity research sales" look like at a top tier bank?
Extracting from the title, its obvious, I understand that: but is this part of ER or is this a sales position closer to 'sales & trading'.
The reason I ask is that ER gets blasted on this forum while sales are considered a 'higher form of life'. If this were to be a classic sales position, I would be inclined to think that the research - what the bank is actually selling - would garnish more credibility than the one selling it, no?
Your thoughts...
dunnmo
research is respected, just getting a beating in terms of bonus b/c of spitzer. However, the spitzer thing has been good as it forced analysts to become more honest and accurate. Now, analyst recommendations at the bulge outperform the market. Those slagging ER probably don't understand the current state and are making comments that were relevant two years ago. ER is not getting outsourced, it's just become different, but still as lucrative.
research sales is sales.
when a fund buys equity, they're attracted to the brokerage for both the research and the execution. thus there are 2 sales functions for equities: sales trading and research sales. research sales people sell the research ideas, basically condensing research updates, whereas sales traders sell trading ideas, ie how to get the best execution for the trade.
wow, totally misread the question
thanks guys. Can you provide some insights into the differences between these sales areas?
looking for the usual suspects: comp, exits, b-school and whatever else you want to throw in there.
Thanks again-
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