Pros
For Context, I work in Sales and will provide my honest opinion for those interested in a Business Development position. I'll also provide some context for how the work culture has been changing.
- Both Sales Managers are awesome people - They are smart, very approachable, provide a lot of guidance and are fun to work with and socialize outside of work.
- Product is good. Although the industry is extremely competitive, I've been able to sell our service in very competitive situations. We're constantly hiring more research analysts, which will continue to drive the strength of our product.
- Market is Growing - The Investment management space is rapidly growing and we are expanding our client reach to Corporates.
- Sales team is not over saturated and not cut throat - We have approx. 10 sales people in our NY office, and there is plenty of untapped leads to go after.
- Compensation plan is attractive. I've worked in other sales organizations, none of which provide nearly as high compensation for new business closed.
- Great work life balance. Standard workday is 9am-6pm. I usually get in a little early and leave most days around 6:15-6:30pm. Managers do not micromanage. That said, I've been successful selling our product, but I do not feel any pressure whatsoever.
- Coworkers are awesome - For the most part, we are young, smart, energetic and keep the work environment fun. A lot of people are friendly outside of work.
- Big initiative to make work environment better - We had an office makeover at the end of 2014 and now everything is completely open, similar to a trading floor. CEO is extremely nice and approachable. Throws parties when we surpass our goals and seems to be continually trying to improve the work life. We play in several sports leagues, have a ping pong and Foosball table in the office and even a keg which we use on Friday afternoons.
Overall, I think we have the right management team in place. We are continually enhancing our product, workflow, and work environment.
Cons
- Very competitive industry. It's hard to differentiate and every sale is a grind.
- Very little inbound leads. Usually only when a former analyst, who liked working with us, lands at a new fund and reaches out. So bottom line, if you can't prospect or cold call a hedge fund analyst, this is NOT the job for you.
- Usually have to go through a "trial period" with a potential prospect, which can be stressful b/c likelihood of the lead closing is in the hands of the research PM working on the trial. Therefor, you need to be able to be friendly at work and make relationships with the research team.
- Product is not that exciting.
- I hear that Comp incentives for Research Associates and Project Managers are not good.
