Good Place to Learn - Associate First Analysis Securities Employee Review

Good, hard working, smart people.

Small firm, though that's what makes it a nice place to work.

Reasonably honest in business operations (this honesty does not extend to hiring process). Work hours modest. Staff generally nice.

DISCUSS SALARY UPFRONT - you may be shocked The basic model of First Analysis is to hire investment professionals at extremely low salaries and have them wear many hats. This leads to a mix in the quality of talent and output. The biggest problem is that the firm attempts to manage unprofitable sell-side research, [low end] middle market banking and venture capital. With staff straddling different areas, this mix causes confusion but the biggest problem is that sell-side research is just not that profitable on its own. Moreover, the most talented venture/private equity personnel don't want to participate in sell-side research. Generally speaking, the talent required to manage difficult deals on either the venture or banking departments has left the firm or was never there in the first place. Like many prospective staff, my prior experience was in a related but slightly dissimilar area (strategy consulting). After weeks of interviews (some prospects are asked to write reports or give presentations, which I declined) and speaking with my references, I was offered a job with a salary so low I almost [literally] fainted ($85k base + monthly bonuses totaling $12k annually). Without question, it was the shocking phone call of my life in part because the process was so involved. This was far less than I was earning but the appeal of carry from the small venture fund was the draw. That being said, similar professionals were offered even less. Moreover, there has been a longstanding effort to recruit very senior people at minimal eat-what-you-kill comp packages.