Equity Research Analyst, Health Care

At Associated Bank we strive to create an inclusive culture where different perspectives are valued and recognized as strengths critical to our success. If you thrive in an environment where your growth and development are encouraged and supported, then Associated Bank may be the right place for you.

Associated Bank requires you to directly represent yourself and your own experiences during the recruiting and hiring process. Associated Bank conducts a thorough background check on all new hires.

Associated Bank is seeking an experienced Equity Research Analyst to deliver differentiated investment research and actionable recommendations that support portfolio allocation decisions within the Health Care sector. In this role, you’ll analyze companies and industries, develop investment theses, and collaborate closely with portfolio managers and analysts across the investment team. This is an opportunity to directly influence investment decisions while mentoring developing talent and shaping sector strategy.

Location: Ideally this position will sit in our Green Bay, WI or Minneapolis, MN office. Consideration will be given for Milwaukee or Chicago based candidates.

Key Accountabilities

• Conduct in-depth fundamental equity research across assigned sectors and securities to identify investment opportunities and risks.

• Build and maintain detailed financial models, including forecasts for earnings, cash flow, and valuation metrics.

• Generate actionable buy, hold, and sell recommendations supported by clear investment theses and market analysis.

• Monitor earnings reports, industry developments, company news, and market trends to provide timely insights to portfolio managers.

• Manage a sector model portfolio and communicate portfolio strategy, positioning, and rationale to investment teams.

• Lead new investment idea generation and identify emerging opportunities within assigned sectors.

• Partner with portfolio managers and analysts to contribute to broader investment strategy and decision-making.

• Mentor and support associate analysts by reviewing research, providing feedback, and guiding professional development.

Education & Experience

Required

• Bachelor’s degree in Finance, Economics, or a related field

• 7+ years of fundamental equity research experience within the investment management industry

• Strong financial modeling, valuation, and analytical skills

• Excellent written and verbal communication skills

• Ability to synthesize complex information into concise investment recommendations

Preferred

• Master’s degree in Finance, Economics, or a related field

• Experience covering the healthcare sector

• CFA designation or progress toward CFA certification

• Leadership or mentoring experience within an investment research environment

Why You’ll Love Working Here

At Associated Bank, you’ll work alongside experienced investment professionals in a collaborative and intellectually engaging environment where your insights directly influence client outcomes. We’re committed to professional growth, continuous learning, and providing opportunities to expand your market expertise and leadership capabilities. If you’re ready to make an impact through meaningful investment research and strategic decision-making, apply today.

We welcome and encourage applications from all qualified parties, including but not limited to people returning to the workforce, people with disabilities, those without a college degree, and veterans or those with military experience.

In addition to core traditional benefits, we take pride in offering benefits for every stage of life.

• Retirement savings including both 401(k) and Pension plans.

• Paid time off to volunteer in your community.

• Opportunities to connect with others through our diversity-focused Colleague Resource Groups.

• Competitive salaries with professional development and advancement opportunities.

• Bonus benefits including well-being programs and incentives, parental leave, an employee stock purchase plan, military benefits and much more.

• Personal banking, loan, investment and insurance benefits.

Associated Bank serves more than 120 communities throughout Wisconsin, Illinois, Minnesota, and Missouri and we consider our colleagues critical to our continued success. See why our colleagues continually vote us a best place to work in the Midwest. Join our community on Facebook, LinkedIn and X.

Compliance Statement

Associated Bank is an equal opportunity employer committed to creating a diverse workforce. We support a work environment where colleagues are respected and given the opportunity to perform to their fullest potential. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.

Fully complies with all applicable enterprise policies and procedures. Acts in compliance with all applicable laws and regulations as outlined in training materials, including but not limited to Bank Secrecy Act. Responsible for reporting suspicious activity to Financial Intelligence. Responsible to report all customer complaints as prescribed and procedure violations to management or HR.

Responsible to report ethical concerns as needed to Associated Bank’s anonymous Ethics Hotline.

Associated Bank provides additional assistance throughout the application, interview and hiring process. Please contact leavesandaccommodations@associatedbank.com if you need an accommodation at any time during the process.

Associated Banc-Corp participates in the E-Verify Program. E-Verify Notice English or Spanish. Know Your Right to Work English or Spanish.

Associated Bank is Pay Transparency compliant.

The pay range represents anticipated base pay for this role. Actual pay may vary based on factors including, but not limited to, work location, skills, experience, education, and qualifications for the role.

$126,840.00 - $217,440.00 per year