A sell-side analyst’s day at a brokerage house usually starts with an early morning meeting where the trading team and research team meets. The research team briefs everyone with the updates that are relevant. The Analysts reach office early (before anyone from any other department) and collect the updates and prepare a list of updates (sources of the updates will be discussed in my next post). After the updates, the research team briefs the trading team on the Daily Research Report (have explained this in another post).
Morning meetings end before the trading time starts. After the morning meeting, the research team quickly publishes the Daily Research Report and it is sent to all clients of the brokerage house. Then, the analyst whose report is being published the next day, starts finalizing it and approving it from the Head of Research.
The rest of the day? Analysts update their financial models according to new updates, talking to management of relevant companies, attending analyst briefings and conference calls, discussing and resolving various issues on phone with the clients. Sometimes,the research team is invited by clients for presentations and for their views on different sectors.
Although I have summarized the process, it is quite lengthy and requires time as well as brainstorming. That is why, normally a research analyst’s day ends after 6:00 PM. Good news is, since stock market is closed on Saturdays and Sundays, analysts get two days off during a week. But it does not end here; it’s expected for them to keep updated outside of the office hours as well!