Research Associate

About the role

For more than 25 years, B. Riley Securities has built its reputation as a premier small- and mid-cap research boutique widely recognized across the Street for its exceptional stock-picking performance, which is the backbone of our firm. With approximately 400 companies under coverage and a fundamentals-driven approach, our research platform has earned recognition for generating alpha-producing ideas that institutional investors trust.

The B. Riley Securities Difference:

• Industry-Leading Internal Promotion Track Record: Clear path to analyst — we promote from within. Rapid responsibility — direct exposure to senior leadership and meaningful responsibilities from day one. Mentorship that matters — small mentor-led groups compete in monthly stock pitch competitions; winners earn bonus compensation; consistent excellence is required for promotion to senior associate and mentor roles.
• High-Impact Experience From Day One: C-suite access — participate in management meetings, analyst days, earnings calls, and B. Riley Securities–led investor days. Client engagement — interface directly with institutional investors, hedge funds, and portfolio managers. Published research — co-author research reports and coverage initiations once licensed, where your contributions can move markets.
• Differentiated Platform Advantages: Alpha generation focus — thematic and proprietary research focused on small- to mid-cap companies consistently identifies overlooked opportunities. Unique Discovery Group leadership — value-focused strategy uncovering hidden gems in the small-cap universe. Full platform capabilities — services across investment banking, M&A advisory, and capital markets.

As a research associate, you will develop the analytical rigor and market instincts necessary to become a leading voice in equity research. Under direct supervision from senior analysts who will likely have risen through the ranks at B. Riley Securities themselves, you will have the opportunity to master fundamental analysis, financial modeling, and investment thesis development. Location: Arlington, VA.

B. Riley Securities provides comprehensive investment banking and capital markets services across all industry verticals, with our equity research platform serving as the intellectual foundation of the firm. BRS is widely recognized for thematic proprietary equity research, and our clients benefit from our extensive network and industry expertise, as well as from the proven execution capabilities of our end-to-end financial services platform. Our research drives investment banking opportunities, trading flow, and institutional relationships across the platform. With a 25+ year track record of identifying winning stocks and developing top-tier analysts, we believe that we offer the most proven path from associate to analyst on the Street.

Responsibilities

Research & Analysis

• Identify actionable investment opportunities through fundamental research and channel checks.
• Develop differentiated investment theses with clear catalysts and risk/reward frameworks.
• Monitor coverage universe for inflection points and communicate timely calls to team.
• Present stock ideas in monthly associate program competitions with conviction and supporting analysis.
• Conduct deep-dive industry research and primary research initiatives.

Financial Modeling & Valuation

• Build and maintain complex financial models, including DCF, comparable analysis, and sector-specific frameworks.
• Demonstrate mastery of accounting fundamentals and financial statement analysis.
• Construct accurate forecasts and sensitivity analyses to support investment recommendations.
• Identify key debate points and valuation disconnects in coverage universe.

Research Production & Engagement

• Draft institutional-quality research reports requiring minimal editing before publication.
• Communicate actionable ideas on morning/midday calls when appropriate.
• Execute information requests from sales force and institutional clients.
• Support corporate access initiatives connecting investors with management teams.
• Participate in earnings calls, investor meetings, and management presentations.
• Build relationships with company management teams and investor relations professionals.

Professional Development

• Participate in firm activities, committees, task forces, and recruiting efforts.
• Attend external industry-related events.
• Support corporate access initiatives connecting investors with company management teams.

Qualifications

Education & Experience

• Bachelor's degree in finance, economics, accounting, healthcare, or related field (undergrads not accepted).
• Demonstrated passion for public markets through investment club participation, personal investing, and/or relevant coursework.
• One to four years of experience in equity research or general finance (preferred but not required).
• CFA designation or active candidacy (preferred).

Technical Excellence

• Superior analytical skills with deep understanding of financial and accounting principles.
• Advanced proficiency in Excel financial modeling and PowerPoint presentations.
• Experience with Bloomberg, Blue Matrix, and FactSet (preferred).
• Excellent verbal and written communication skills with the ability to express ideas effectively and fluently to an institutional audience.

Personal Attributes

• Intellectual curiosity and passion for uncovering investment opportunities.
• Ability to manage multiple projects while maintaining attention to detail.
• Comfortable with direct client interaction and public speaking.
• Team player who thrives in a competitive team environment.

Licenses

• SIE, Series 86 and Series 87 licenses preferred.
• If not currently licensed, required to obtain all necessary licenses within the first 6 months of employment.

Coverage sectors

• Consumer, Media & Entertainment
• Diversified Industrials, Homebuilders & Building Materials
• Discovery Group (industry vertical unconstrained small-/mid-cap)
• Energy & Natural Resources
• Financial Services
• Healthcare
• Real Estate
• Technology

Pay

Base salary range: $80,000–$100,000, depending on experience, with quarterly performance-based bonuses and potential for additional associate program competition bonuses.

Benefits

• Comprehensive medical, dental, and vision insurance.
• 401(k) profit-sharing retirement plan.
• Paid holidays, vacation, and sick leave.
• Company-paid life and disability coverage.

Professional development

Professional Development Track

• Foundational Excellence: Obtain all FINRA licenses (SIE, Series 86/87) within the first 6 months. Master financial modeling and accounting fundamentals. Develop inquiry skills to identify pertinent questions and debate points. Demonstrate “can do” attitude and independent resourcefulness.
• Senior Associate Progression: Develop a thorough understanding of coverage names with proprietary insights. Proactively identify timely product ideas and facilitate