Research at investment banks?

Is there a future for equity research/ global investment research st investment banks? With improving technology, I've heard that it is a field that's dying out fast and that there will be very few jobs available in the coming years in the research divisions at banks. Is this true?

Also, what is the salary progression like? I can't find any actual sources on the Internet specifically for research but I've heard that analysts start off at £35000 plus £10000 bonus, with associates earning £60000 with £15000 bonus?

1. Research will ALWAYS be around. Banks use their research analysts to build indirect client flow streams into the bank. Whether that is through a corporate/AM house wanting to trade with the bank or a company wanting to raise funds. Analysts are the bread and butter behind these relationships. Not to mention, HFs and other asset managers love the corporate access analysts give them to the companies they're covering = more indirect monies for the bank.

2. Pay is the same as everywhere else in FO with a smaller bonus. Right now, street average for base is £50k starting (out of uni), 10-35% bonus and a signing bonus. 'Associate' rank starting is £80-90k + 20-50% bonus + signing bonus.

Research folk actually switch the nomenclature around so an associate is where you'd start, and then once you've been trained up and have a universe of coverage, you'll be bumped up to 'Analyst'. One stays as an Analyst for the rest of their career (although, their rank would obviously change - i.e. VP > ED > MD etc).

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Thanks for the answer. I didn't expect the salaries to be so similar to other front office roles- I always thought that research wasn't paid as well for some reason. Also, thanks for clearing up the nomenclature stuff- I was wondering why an equity research analyst was being paid more than an associate lol. Thanks