<p>I am wondering if someone can describe to me the career path of an equity research analyst -- difficulty in getting an internship, getting a job as an associate out of college, typical hours, and pay. are the hours any better than those of other investment banking divisions, and what about the pay? finally, do you get to pick what industry you cover?</p>
<p>Are you talking buy side or sell side? I’m assuming you’re talking sell since you mention IBD.</p>
<p>Equity research, unlike investment banking, doesn’t hire big classes of analysts every year and is difficult to break into without an MBA. Some firms hire recent graduates to fill in as assistants but the reputable ones hire mainly from targetted schools. Since beggers can’t be choosers, one is hired to cover an industry where there’s an opening.</p>