Fundamental Research Group Associate (Biotech)

About the Role

As a Fundamental Research Group (FRG) Associate at Capital Group, you will work closely with Investment Professionals to drive deep research on long-term fundamental issues in the biotech industry, generating returns for our clients. You will partner with Investment Professionals to help generate investment ideas and contribute significantly to the investment process. This includes monitoring holdings through company and industry research, financial modeling, drafting reports, and facilitating meetings with management teams, sell-side firms, and industry experts.

Responsibilities

• Conduct in-depth research on biotech companies and industries to support investment decisions.
• Perform financial modeling and fundamental analysis.
• Draft research reports and present findings to Investment Professionals.
• Facilitate meetings with management teams, sell-side firms, and industry experts.
• Leverage AI tools to enhance research quality and comprehensiveness.
• Evaluate scientific, clinical, regulatory, and commercial developments affecting biotech companies.
• Analyze clinical trials and assess mechanisms of action with positive predictive value.

Requirements

• Minimum of 2 years of investment research experience in buy-side or sell-side research.
• MD or PhD in a relevant scientific discipline (MD candidates must have prior laboratory or research experience).
• Proven track record of top accomplishments in education and professional career.
• Experience in statistically analyzing clinical trials and evaluating scientific/clinical findings.
• Ability to assess scientific, clinical, regulatory, and commercial developments in biotech.
• Proficiency in leveraging AI tools for research.
• Extensive experience in financial modeling, fundamental analysis, and working with sell-side firms.
• Strong interest in long-only investing and equity research.
• Intellectual curiosity and analytical capabilities.
• Ability to build trusted relationships and embrace feedback for continuous improvement.

Qualifications

• MD or PhD in a relevant scientific discipline.
• Prior laboratory or research experience for MD candidates.
• 2+ years of investment research experience.

Skills

• Financial modeling and fundamental analysis.
• Statistical analysis of clinical trials.
• Scientific and clinical evaluation.
• Leveraging AI tools for research.
• Relationship building and collaboration.
• Strong analytical and problem-solving abilities.

Pay

San Francisco Base Salary Range: $165,185-$264,296
New York Base Salary Range: $150,155-$240,248

In addition to a competitive base salary, you will be eligible for an individual annual performance bonus, Capital’s annual profitability bonus, and a retirement plan where Capital contributes 15% of your eligible earnings.

Benefits

• Generous time-away and health benefits from day one.
• Flexible work options.
• 2-for-1 matching gifts for charitable contributions.
• Opportunity to secure annual grants for supported organizations.
• Access to on-demand professional development resources.

About Capital Group

At Capital Group, we empower our associates to build successful careers through a culture, compensation, and opportunities that foster growth. For nine decades, we’ve focused on improving lives through successful investing. With over 9,000 associates in 30+ offices globally, we’re committed to our clients’ and each other’s success. Our core values—Integrity, Client Focus, Diverse Perspectives, Long-Term Thinking, and Community—guide everything we do.