Analyst/Associate — Equity Research (TMT), Australia

JPMorgan Chase & Co.; Sydney; On-site; AUD 120,000 - 180,000; Full time

Job summary

J.P. Morgan is seeking an Analyst/Associate to cover the Australian TMT universe within Equity Research. You will partner with senior analysts to deliver accurate forecasts, high-quality publications, and timely research outputs for institutional clients in Australia.

You will build and maintain three-statement models, perform valuation work, and track KPI trends while coordinating with Sales & Trading and Corporate Access. This role emphasizes governance, documentation, and deadline discipline.

Qualifications

• Experience in equity research or similar analytical role (audit/accounting/valuation/CF&A).
• Strong accounting and disclosure interpretation across financial statements and cash flow.
• Strong financial modeling (three-statement, forecasting, sensitivities).
• Clear written and verbal communication; translate analysis into outputs.
• Ability to work under deadlines during earnings/season.
• Understanding of research compliance and market conduct expectations.

Responsibilities

• Maintain and update three-statement financial models with clear assumptions.
• Perform earnings and filings analysis with an accounting lens.
• Maintain valuation and comps and run scenario analyses.
• Track TMT KPIs and unit economics and flag data quality risks.
• Contribute to research publications and publication exhibits.
• Monitor market news, corporate actions, and regulatory developments; summarize implications.
• Prepare materials for internal/external stakeholders and respond to analytical requests.

Skills

Equity research

Accounting

Financial modeling

Written/verbal communication

Attention to detail

Research compliance

Education

CA/CPA or CFA progress

Job description

Analyst/Associate — Equity Research (TMT), Australia

Sydney, NSW, Australia

Job Information

• Job Identification 210779935
• Job Category Research
• Business Unit Commercial & Investment Bank
• Posting Date 08/12/2026, 12:33 AM
• Locations 85 Castlereagh St, Sydney, AU-NSW, 2000, AU
• Job Schedule Full time

Job Description

Job Summary
Support coverage of a defined Technology, Media & Telecommunications (TMT) universe in the Australian market. Partner with senior analysts and team members to produce accurate, timely, compliant research through strong accounting-driven financial analysis, forecasting support, valuation maintenance, and high-quality written output

Key Responsibilities

• Maintain and update three-statement financial models; ensure outputs tie-out and assumptions are clear, consistent, and documented.
• Perform earnings and filings analysis with an accounting lens (P&L, balance sheet, cash flow, working capital, capex, leases, SBC, adjustments) and translate results into forecast/estimate updates for senior review.
• Maintain valuation and comps (e.g., EV/Sales, EV/EBITDA, P/E; DCF/SOTP support where applicable) and run sensitivities/scenarios on key drivers.
• Track and analyze TMT KPIs and unit economics (e.g., ARR/NRR, churn, ARPU, subscriber net adds, take rates, utilization/PUE, capex intensity) and highlight inflections, risks, and data quality issues.
• Contribute to research publications (earnings previews/recaps, company updates, thematic work, initiation support) including drafting sections, exhibits, and tables under tight deadlines.
• Monitor newsflow, corporate actions, and regulatory/spectrum developments; summarize implications and recommended actions for thesis/estimates.
• Support internal and external stakeholders (Sales & Trading, Corporate Access, institutional clients) by preparing materials and responding to analytical requests with appropriate supervision.
• Uphold model governance and QA controls (versioning, change logs, checks) to ensure accuracy, auditability, and consistency across the coverage set.

Required Qualifications, Capabilities, and Skills

• Experience in equity research or a comparable analytical role (audit/accounting, transaction services, valuation, corporate finance, FP&A).
• Strong accounting and disclosure interpretation skills across financial statements and cash flow, including topics common in TMT (revenue recognition/subscriptions, deferred revenue/RPO, capitalization of software/R&D, leases, SBC).#
• Strong financial modeling skills (three-statement, forecasting, sensitivities/scenarios) and high attention to detail.
• Clear written and verbal communication; ability to translate analysis into investment-relevant outputs.
• Strong execution and prioritization in deadline-driven cycles (earnings/AGM/reporting season).
• High integrity and strong understanding of research compliance and market conduct expectations.

Preferred Qualifications, Capabilities, and Skills

• CA/CPA (or progress toward) and/or CFA (or progress toward).
• Prior exposure to TMT sub-sectors and related KPI frameworks (SaaS, telecom, data centres).
• Familiarity with market data and research platforms (generic).
• Knowledge of ASX disclosure cadence and key Australian TMT constituents; awareness of global peers for relative valuation context.

About Us

J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

About the Team

J.P. Morgan’s Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.