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Longbow Research Reviews

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2.7
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David MacGregor
8 Ratings

16 Employee Reviews

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  1. Helpful (1)

    "good people, tough industry, will ride it out"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    learning the equity research business inside and out

    Cons

    small scale is working against it at this juncture

    Advice to Management

    find and ancillary source of revenue to pay the bills


  2. Helpful (3)

    "Research Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Longbow Research full-time

    Pros

    - Some great people to work with and some fun personalities
    - Easy place to get sell-side experience
    - Decent healthcare benefits, may have changed since I was there

    Cons

    - When MacGregor (CEO) says you'll get 30k+ bonus when you start, just know that it will come in way under that
    - Pay often does not reflect performance
    - Smaller sell-side shops are structurally impaired in this business
    - Little client interaction as associate
    - There have been some amazing/talented employees over the years, but MacGregor's "leadership" style has forced them out
    - Horrible morale
    - Could go on and on

    Advice to Management

    - Need to do something to change morale and invest in employees
    - Pay employees fairly, instead of overpaying a select few
    - Stop under delivering on every promise; set expectations appropriately

  3. Helpful (2)

    "Growing (shrinking) pains"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Longbow Research full-time

    Pros

    great way to get a leg in a fast paced industry. some of your coworkers will be great to work with - very motivated.

    Cons

    management can be tricky at times - your bonus will be based more upon how long you have been there vs. actual performance. Bonus rounds are disappointing for 90% of the teams.

    Advice to Management

    Hire analysts and retain talent. It hasn't worked in the past but when there is a better gig in town it makes sense that they leave.


  4. Helpful (3)

    "Such great potential but so disappointing"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Great colleagues, countless learning opportunities

    Cons

    For such a small company, several people are on a power trip. They actually want people to be miserable to make themselves feel important.

    Advice to Management

    Treat employees with a higher level of respect and they will work harder for you. There is no excuse for management to cuss at employees in meetings or over email. At times, it borders on verbal abuse.


  5. "Equity Sales"

    StarStarStarStarStar
    Current Employee - Anonymous Employee in Cleveland, OH
    Current Employee - Anonymous Employee in Cleveland, OH
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Longbow Research (More than 3 years)

    Pros

    Great product and coworkers. Younger workforce with solid senior leadership.

    Cons

    marketplace fluctuations leading to inconsistent revenue generation


  6. Helpful (1)

    "Self-starters only - not a "punch the clock" job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Junior Equity Analyst in Cleveland, OH
    Current Employee - Junior Equity Analyst in Cleveland, OH
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Longbow Research full-time (More than 5 years)

    Pros

    - Pay is above-average at all levels relative to other finance jobs such as corp. finance departments.
    - Autonomy. If you're a "doer" instead of a "punch the clock" employee, you can essentially dictate your own hours. My senior only cares that my work is done. IMO this is the single best reason for careers on the sell side.
    - Rise up the ranks as fast as you're ready. Longbow is an entrepreneurial atmosphere: make a sound case to cover a stock or a sector and it can be done. Sure some have flamed-out, there is no guarantee for success.
    - I regularly interact with upper management and portfolio managers. In my first year I was peppering a mid-cap CEO with questions. Again, cool part of working sell-side.
    - Cleveland! Doesn't pay like your peers in NY, but it's a centrally located suburban office park, couldn't be an easier place to work.
    - People. Like anywhere it's a mixed bag, but there are research teams doing some high quality work. You interact with some very smart people, both internally and in the customer base.

    Cons

    - Repeat: if you're a punch the clock employee, workin for the weekend, the sell side is not for you. Entrepreneurial self-starters only. As a junior or associate you are expected to develop industry contacts and write reports on industries you're learning on the fly. It's not a boiler room like Quicken Loans, but it does take a certain personality to succeed.
    - Yes you can dictate your hours most of the time. But others times such as earnings season you need to be glued to you desk, depending on earnings call timing.
    - Results are choppy. My annual bonus has been +/-$25,000 depending on the environment and flow of business. Essentially big years are great and small years are disappointing.
    - CEO takes ample of flack, some deserved, but alot is sour grapes. He's the bad guy who needs to make hard decisions to keep the company on the right track. He's recently farmed out the day to day to lieutenants around the organization, morale is significantly improved IMO.
    - Travel can be cumbersome and increases as your responsibilities do. Essentially you must enjoy traveling to NYC. I do not.
    - Long term, the outlook for the industry is questionable. No it does not go away. But customers are active money managers. Gen XYZ is being pushed into passive investing vehicles.

    Advice to Management

    Transparency is improving, morale is improving, keep it up.


  7. Helpful (1)

    "Positive Wall Street Experience w/ above-average responsibility"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Junior Equity Analyst
    Current Employee - Junior Equity Analyst
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Longbow Research full-time

    Pros

    - Solid independent research shop with good client base
    - Differentiated research product, though the quality varies team-to-team (as with any research provider)
    - Given low coverage (200+ stocks), junior analysts are provided a clear runway for promotion after recent changes to the research department. Those who want to grow, can and will with the right attitude and drive. LBOW provides good support and tutelage along the way.
    - Good access to company management. Same can't be said for most independent research shops.
    - Plenty of young employees...can make friends easily. Everyone is nice.

    Cons

    -Research has gone through some growing pains, though its mostly a function of bringing in non-midwestern talent who do not share the same midwestern values as the rest of the firm. They're more likely to leave for other shops for no real reason.
    - Pay is lower than NY's wall street standards, but lower cost of living in Cleveland offsets this almost entirely.
    - Long hours, high quality standards and a high pressure sales force...though this is too be expected
    - Office is nice, but located in the suburbs. Most of the staff is young and lives downtown (or near it)

    Advice to Management

    - Limit turnover at junior level.
    - Expand coverage through continued internal promotion of qualified candidates, while also growing the business with outside hires. Make sure new junior analysts aren't covering an industry on their own (on and island).
    - Downtown office would be preferable and a boost to morale

  8. Helpful (8)

    "Great people, horrid CEO"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Junior Equity Analyst in Cleveland, OH
    Former Employee - Junior Equity Analyst in Cleveland, OH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Longbow Research full-time (More than 3 years)

    Pros

    Since everyone at the firm is trying their best to get out, there is a decent amount of room for promotions.

    Cons

    Just about every issue at the firm (and there are MANY) stems from the lack of leadership, vision, and overall managerial ability.

    MacGregor runs all bonus meetings and, through some arbitrary process, decides who gets what. It doesn't matter if you've only interacted with him 3 times since your last meeting, he believes he knows how well you're doing your job. There is also the issue that the sales vote is private and has been altered in the past.

    Those who "kiss up" are MUCH more likely to receive favorable bonuses.

    The administrative staff is bloated and ineffective. They are so far away from the cutting edge that they're not even on the knife.

    The sales force has gotten fat at the top due to a poor distribution of accounts. This has removed the incentive for the top earners to prospect or develop new accounts. The guys at the bottom are pushed around like pawns and have no say in the structure of the sales process. A "head of sales" was brought in to try and fix this situation, but no one has yet been able to figure out what he has contributed.

    The company's vision changes at the whim of the CEO. This typically happens every 3-4 months and multiple meetings are called. New initiatives are handed down without discussion and then promptly forgotten about a month or two later.

    Advice to Management

    Remove MacGregor, bring clarity to bonuses, put a proper management structure in place, value employees by their contributions (not how much they brownnose), cut the dead weight in your administrative staff, reorganize your sales force, set a vision, define the strategy to your employees, and when you begin to execute this strategy, don't give up after 2 months and forget about it.


  9. Helpful (1)

    "Great experience working on Wall Street from Cleveland, OH."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Independence, OH
    Current Employee - Anonymous Employee in Independence, OH
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Longbow Research full-time (More than 3 years)

    Pros

    -The firm gives you the ability to drive your own success. Many of the most successful analysts at the firm are home grown.
    -In a firm of only 60 employees, you cant just hide in your cube. The industry and specifically the firm are results driven and if your goals aren't met, changes become necessary.
    -Challenging work in a competitive industry.
    -Good brand name.
    -Friendly environment
    -Good benefits

    Cons

    -There are some long days (earnings season/travel days) although that should be expected on Wall Street.
    -The firm has lost a couple good employees over the past few years although plenty of good ones remain.


  10. Helpful (5)

    "Very frustrating"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales in New York, NY
    Former Employee - Sales in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Longbow Research full-time (More than 3 years)

    Pros

    Longbow has some really good and upstanding people.

    Cons

    The firm has absolutely no vision and is run by it's CEO, David MacGregor, like a dictatorship. It's either his way or the highway. There are no "checks and balances" as David is the majority shareholder and essentially has no one to report to. He used to be a solid steel analyst but he's taken on way too many responsibilities at Longbow. He's trying to be a publishing analyst, a CEO, and the Director of Research. Each one of those jobs is a full-time job in itself. He's spread himself way to thin and is not effective in any of those roles. Part of the problem is that he's a control freak and cannot stand the thought of delegating.

    Advice to Management

    1) The CEO, David MacGregor, needs to decide what he's going to do. Either be a CEO, be an analyst or be the Director of Research. Not all three.
    2) Longbow has got to stop the revolving door of employees. They're constantly losing their best talent. Wall Street does not like constant change and will pay a premium for consistency.
    3) Longbow has to find a way to keep it's best people. Whether they're constantly losing top analysts, salespeople or traders - they have to keep their best talent and not lose it to other Wall Street firms.


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