Job vacancy: Selling research to hedge funds

The editorial team of eFinancialCareers.com analyses a current job vacancy that looks significant, intriguing or otherwise of interest. Sales of research to European and US-based hedge funds, remuneration six figures (on target earnings).

Equity salespeople are not flavour of the month in the job market these days. This advertisement may lift their spirits by reminding them that they have transferable skills.

The advert, placed by the headhunter Eban, says 18 months experience of equity or fixed income sales would be a distinct advantage, even though the job requires a change of tack into selling research for an independent research organisation.

Peter Smith, an Eban consultant, said many applicants so far have been equities sales specialists who have lost their jobs. 'We see some very good people. It doesn't matter if they're redundant or not. They have the financial services background and they have the sales skills.'

Many research analysts have applied as well. But Smith said that while some have good marketing experience, few have the right sales background.

'The job involves a lot of cold-calling and it's very commission-based,' said Smith. 'An entrepreneurial approach and real commitment to selling are required.'

Successful applicants will have to show they fully understand the product they would be selling, which is different from traditional research provided by big houses. It is more of a decision-making tool designed to enable hedge funds to react to events faster than their competitors.

Applicants must also be comfortable working for a small, fast-moving company - quite unlike the firms that many are used to.

'This is an unusual job and the best candidates will ask some tough questions about it,' said Smith. He said he had received applications for the London-based job from the US, Canada, Spain and elsewhere, giving the employer - which he did not identify - a wide pool to choose from.

Smith added that since filling similar positions last year, he had noticed an increase in the number of very experienced equities salespeople applying - vice-presidents from leading banks with six or seven years experience, for example.

'Two years ago some of those people wouldn't have bothered with a job like this, because they were earning so much. But times have changed.'

Job Vacancy looks at advertisements from both eFinancialCareers.com and other sources