Equity Research vs. Investment Banking: Careers, Compensation, Exits, and AI/Automation Risk
Mergers and Inquisitions
JANUARY 22, 2025
Traditionally, banks gave away equity research reports for free to incentivize large clients to trade with the bank. Therefore, equity research generated revenue indirectly via trading commissions , but it was still considered a front-office role due to the compensation, interaction with managers and investors, and exit opportunities.
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