From consultancy to research – it’s time charge what we’re worth!

My background is in Investment Banking and Research Consultancy. I used to use research as a means to an end, not necessarily conducting research – I used to commission research projects. I now work in a top tier research agency, mainly in the b2b sector specialising in capital markets and investment banking.

A different role in a research agency
Much of my time is at the front end of client management and projects either in speculating for business or writing proposals, working alongside a team of specialist researchers.

In a typical day I turn up at 9am, but am out the door immediately for a meeting with a hedge fund in Mayfair. The first thing I do is log into ft.com to get a snapshot of what’s happening then go to the UK section for equities. I feel quite perky starting the day, as the treacherous walk from the tube to the office is fraught with drunks, druggies and students!

Competing for resources
I’m currently working for a large Japanese fund manager who are developing their European market penetration strategy. Another thing that’s taking up a lot of my time is not so much a research project but a campaign for our City Study 2006, trying to convince IRO's to conduct a perception study of investors and analysts. We’re currently in the awareness stage so initial calls (many cold calls) to IRO's sending legacy data/credentials – I have spent about two hours per day over the last two weeks and for next month will be taken over by this. There’s much competition in the area as many use internal resources.

The best part of my job is challenging views of companies who think they understand their shareholders and other investors in their sector. On the other hand, the day drags on a little, especially on a Friday. Many of my clients are not research savvy as they use research ad hoc so talking to them about the right things and relating it back to research can be a long process but you do now and again get a client who understands the research process and you can get straight to the point.

The team
My team is a fairly senior bunch of individuals, with lots of experience across the b2b sector and a good mix of backgrounds. The day is generally quiet with interludes of "food breaks" usually afternoon tea and biscuits and gossip on last nights soaps!

I learn about the strengths of the company from them. I enjoy it because we have such a wide range of experiences and I can tap into different parts to gain knowledge and experiences.

Weaknesses and changes in the future
In my firm, we have a great brand and experience but it is just not sold well or marketed effectively. The formal training is great but I am an advocate of "on-the-job" training, coming from a non-research background I wanted to get up to speed as quickly as possible. This was possible through being involved in various aspects of project work early on.

My day finishes at 17:45 – I try to leave around this time, to get to university where I am studying for an MBA. The class finishes at 21:00 and I am home at 22:00. I am now close to the end of the course so no more late nights!

Thinking of the future of the industry, it is the old question about what you want the research firm to deliver. In the City, analysts research markets and sectors and then make “informed impartial judgements” about companies, that’s a load of c***! They are influenced by the company they are working for on the banking side and in many cases it seems like Chinese walls are only there in principle. There is a view that analysts should only do the research and allow investors to make decisions.

The same issue exists in the research industry - to what extent should we, as researchers, provide independent, impartial analysis (however controversial) and leave it at that. Or, since we researched the market, do we analyse the data and then interpret the findings and make recommendations ands suggestions? I am very much of the latter school of thought. The way we can deliver added value to clients is to give them another perspective.

Coming from the consultancy sector, much of the work they do is based on research/evidence and they are paid ten-fold more for their services than a researcher is. Entering the sector ten months ago I was shocked at how much the company does and how little we bill clients – that’s something which I intend to change.