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Number of investment management industry analysts declines in 2016

The U.S. investment industry shed 1,500 research analyst jobs in 2016, or 9.2% of its staff from the end of 2015, according to data from eVestment. The industry saw steady increases coming out of the recession, reaching 16,431 analysts by 2015. The decline has been attributed to veteran analysts leaving the industry and younger professionals choosing different careers. There has also been a move by investment firms to depend less on internal resources and look outward to the increasing number of reliable third-party research mediums available. Futhermore, the use of such third-party research is viewed more favorably by some who feel relationships between subject firms and investment managers might impede objectivity.