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

Mergers and Inquisitions

Equity research recruiting tends to be less structured, though the bulge bracket banks and elite boutiques still run traditional processes that start over a year before summer internships. Sure, some Analysts add value and understand companies at a deep level, but do we need 30 teams covering a single large-cap stock? No, probably not.

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Growth Equity: The Child Prodigy of Private Equity and Venture Capital, or an Artifact of Easy Money?

Mergers and Inquisitions

However, they often invest using preferred stock with liquidation preferences attached to limit their downside risk (similar to VCs). Financial Modeling: Like private equity, 3-statement models are common, as are valuations and DCF models , but LBO models are less common since not all deals use debt.