Equity Research Associate, Aerospace & Defense

Citi’s Equity Research team is seeking a Senior Associate to support the lead analyst covering the Aerospace & Defense sector, contributing to high-quality, independent investment insights for global institutional clients. This role offers the opportunity to shape investment research, financial models, and client engagement in a dynamic sector spanning airfreight, surface transportation, logistics, shipping, and related industries.

Responsibilities

• Build, maintain, and update detailed financial models for companies across the Transportation & Shipping sector, including relative value analysis, earnings forecasts, and scenario modeling to support investment recommendations.
• Draft and co-author equity research publications, such as earnings previews and recaps, initiation reports, industry deep dives, thematic research, and other sector-focused content.
• Analyze company fundamentals, industry trends, competitive dynamics, and relevant market data to identify key investment themes, risks, and opportunities.
• Respond to inquiries from internal and external clients, delivering timely and well-informed perspectives on Transportation & Shipping sector developments and covered companies.
• Coordinate and support investor events, including management meetings, company visits, industry conferences, and calls with industry experts and consultants.
• Apply AI tools and emerging technologies to enhance research workflows, streamline data analysis, and improve the quality and efficiency of published research.
• Mentor and support junior team members, contributing to a high-performing research environment through knowledge sharing and day-to-day guidance.
• Evaluate business and investment decisions with sound judgment, maintaining the integrity of research outputs and adhering to regulatory and ethical standards.

Requirements

• 5 to 8 years of experience in sell-side equity research or a closely related investment research function.
• Bachelor’s degree in Finance, Accounting, Economics, Business, or a related field.
• Strong understanding of financial statements, accounting fundamentals, and corporate finance.
• Experience building financial models and performing company valuation analyses (DCF, comparable companies, precedent transactions, or similar methodologies).
• Active holding of, or eligibility to obtain, SIE, Series 63, Series 86, and Series 87 licenses.
• Excellent analytical and problem-solving skills.
• High attention to detail with the ability to manage multiple priorities in a fast-paced environment.
• Intellectual curiosity and a genuine passion for financial markets and investing.
• Ability to learn quickly and develop expertise in a new industry or sector.

Qualifications

• MBA, graduate degree, or CFA designation, demonstrating advanced financial and analytical expertise.
• Familiarity with the Transportation sector, including knowledge of airfreight, logistics, trucking, railroads, shipping, or broader transportation industry dynamics.
• Hands-on experience applying AI tools or data analytics platforms to investment research or financial analysis workflows.

Benefits

• Hybrid working model with 3 days in the office and 2 days working remotely.
• Strategic influence over how Citi's Aerospace & Defense research reaches institutional clients and shapes market perspectives globally.
• Access to senior leadership, global industry networks, and cross-functional collaboration across Citi's research and investment banking franchise.
• Ongoing learning and professional development opportunities, including support for advanced qualifications and continuing education.
• Wellbeing support and work-life balance resources designed to sustain long-term performance and personal resilience.
• Competitive compensation and financial wellbeing benefits, including access to Citi's broader employee financial programs.
• Medical, dental, and vision coverage.
• 401(k) retirement plan.
• Life, accident, and disability insurance.
• Wellness programs.
• Paid time off packages, including vacation, sick leave, and holidays.

Pay

Full-time salary range: $121,200.00 - $181,800.00. In addition to salary, eligible employees may receive discretionary and formulaic incentive and retention awards.

Schedule

Full time, hybrid (3 days in-office, 2 days remote).

Primary location: New York, New York, United States.