Equity Research Associate – Industrials Multi-Industry

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BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

BMO Capital Markets is a leading, full-service North American-based financial services provider, with over 2,700 professionals in 30+ locations around the world, including 20 offices in North America, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with US$1.1 trillion total assets and approximately 53,000 employees as of April 30, 2026.

The Equity Research department covers over 900 stocks across diverse sectors, and provides equity strategy, quantitative analysis and portfolio management services to our clients. The US Equity Research department consists of 31 analysts and ~50 associates, covering over 500 stocks.

We are seeking an Equity Research Associate to join our Industrial Multi-Industry team. The associate will work closely with the senior analyst to develop and market all equity research products. This role requires strong analytical / critical thinking skills, a passion for the stock market, keen attention to detail, and a strong work ethic.

The work environment involves collaboration, co-ordination and a shared knowledge base with the analyst but equally values independence, initiative, idea generation and a sense of ownership for the work.

Our ideal candidate has strong accounting and/or finance skills, an interest in understanding stocks, and is eager to join a fast-paced equity research team with particular interest in the industrials industry. Equity research experience is a plus, but not required, as well as requisite license exams (SIE, Series 7, 63, 86, 87) and/or the CFA.

• Building and maintaining detailed company models (IS/BS/CF)
• Analyzing financial statements and news related to industry coverage
• Analyze company filings (10-K, 10-Q, earnings releases) and company transcripts
• Writing equity research reports and over time, formulating investment theses
• Participation in site visits and management meetings
• Maintaining and analyzing industry data
• Communicating investment recommendations to internal and external clients

A combination of writing skills, technical knowledge and skills in equity research, finance or accounting demonstrated through relevant work and educational experience is required. Prior industry experience in the multi-industrials industry is not required but could be a benefit. Candidates must have a clear and proven track record of achievement throughout their education and career. Other necessary attributes include:

• Exceptional written and verbal communication skills
• Strong organizational skills and comfort managing various priorities
• Client service mindset and ability to prioritize client needs with accuracy
• Over time, ability to interact professionally with company management teams and clients (analysts and portfolio managers)
• A keen interest in and demonstrated understanding of Equity Research
• A positive attitude, intellectual curiosity, the ability to learn quickly and strong attention to detail
• Superior work ethic, self-motivation and the ability to work independently
• Ability to systematically manage a heavy work load and meet stringent deadlines
• Flexibility to work irregular and extended hours
• Solid technology skills with robust knowledge of Excel, Word, PowerPoint, Bloomberg and/or FactSet
• Demonstrated use of AI in the workplace
• CFA is a plus

• Bachelor’s degree is required. A post-secondary degree in a related field of study is a plus. U.S. only:

We thank all applicants for their interest; however, only those selected for an interview will be contacted.

The salary range for this role is $110,000 up to $140,000 USD (subject to the candidate meeting the specific skills, experience, education, and qualification requirements)

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The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected] and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.