Equity Research Associate – U.S. Real Estate/REITs

About the role

We are seeking an Equity Research Associate to join our U.S. Real Estate/REITs team. The associate will work closely with the senior analyst to develop and market all equity research products. The role requires strong analytical and critical‑thinking skills, a passion for the stock market, keen attention to detail, and a strong work ethic. The work environment emphasizes collaboration and shared knowledge while also valuing independence, initiative, idea generation, and ownership of work.

Responsibilities

• Build and maintain detailed company models (income statement, balance sheet, cash flow).
• Analyze financial statements and news related to industry coverage.
• Conduct store and channel checks.
• Write equity research reports and, over time, formulate investment theses.
• Participate in site visits and management meetings.
• Maintain and analyze industry data.
• Communicate investment recommendations to internal and external clients.
• Collaborate in developing tools and processes to gather industry and company news for client dissemination or incorporation into regular research products.
• Establish industry, regulatory, and political relationships to better predict or assess industry trends and company events.

Requirements

• 1–2 years of equity research or real‑estate finance experience; fully licensed.
• Strong financial background with solid accounting and finance skills.
• Exceptional written and verbal communication skills.
• Strong organizational abilities and comfort managing multiple priorities.
• Client‑service mindset with the ability to prioritize client needs accurately.
• Professional interaction skills for engaging with company management teams and clients (analysts and portfolio managers).
• Demonstrated interest in and understanding of equity research.
• Positive attitude, intellectual curiosity, quick learning ability, and meticulous attention to detail.
• Self‑motivated work ethic; ability to work both collaboratively and independently.
• Capacity to manage a heavy workload and meet stringent deadlines.
• Flexibility to work irregular and extended hours.
• Proficient with Excel, Word, PowerPoint, Bloomberg and/or FactSet; solid technology skills.
• Experience using AI tools in the workplace.
• CFA charterholder or working toward the CFA designation (preferred).
• Bachelor’s degree required; a post‑secondary degree in a related field is a plus.

Pay

Equity Research Associate salary range: $110,000 – $140,000 USD (salaried).
Senior Research Associate salary range: $150,000 – $180,000 USD (salaried).
Compensation may include performance‑based incentives, discretionary bonuses, and other perks. Salaries vary based on location, skills, experience, education, and qualifications.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans
• Additional perks and rewards (see BMO Total Rewards for details)

About BMO Capital Markets

BMO Capital Markets is a leading, full‑service North American‑domiciled financial services provider offering equity and debt underwriting, corporate lending, project financing, M&A advisory, securitization, treasury management, market risk management, research, and institutional sales and trading. With approximately 2,700 professionals in 33 locations worldwide, the Equity Research department covers over 925 stocks across diverse sectors and provides equity strategy, quantitative analysis, and portfolio management services.