I think there was a post on here some time ago about how one guy hustled with portfolio managers like he was some unemployed hardcore drug addict with 9 kids to feed in order to get a job as a fund manager/analyst…
Guess what - I feel like that guy now. I’m working in the back office of a mid sized asset manager and with my contract coming to an end at the end of this month, I have set up some meetings with a well reputed equity analyst and a portfolio manager at the firm. I don’t think the firm’s recruiting right now but how do I convince the fund manager to give me a chance??? Even if it’s just as a support assistant.
Mentally, I feel as desperate as crack addict (and would probably end up dying in such a situation) but obviously I need to mask this and intelligently convey my drive, enthusiasm and raw potential.
My worst fear is that I end my contract and drift into the abyss of an unemployed recluse - do you guys have any idea how I can prolong the relationships I have built with the portfolio managers/the analyst at my current firm?
I have a tendency to be too direct - how can I go about this tactfully?
Please don’t hate me for asking for advice - I promise to be more an active AF member going forward!
Try networking outside the “box”. I met some BSDs at the NYHRC in FiDi along with some fund managers at poker tables. I was able to impress them with my drive in the gym and my intelligence at the table to build connections. Once i had an established relationship, I would then discuss my intentions in the finance community. What i am getting at is we all have passions outside the finance bubble, try and find those connected in the industry that share similar aspirations and use them as mentors. Beyond intelligence and drive, people want to work with those with commonalities.
On another note, Jim Cramer was a homeless drug addict and look at him now (he is probably still on coke but wealthy nevertheless).
lxwarr30 - Good point I’ll do that. So I’m an accountant…NOW do you understand my plea? It’s not that I’m running away from accountancy. Accountancy skills are great to have for equity research but it’s just that I believe I am capable of far more than churning out historical numbers and nit-picking trivial errors…Spoke to the people who placed me at the firm yesterday and they basically reconfirmed that although the firm is very happy with my work, there just aren’t any vacancies there. This same agency doesn’t recruit for analyst roles so that’s dead in the water. Quite frustrating that I have to leave, because I have spent the last 5/6 months trying to establish relationships with a couple of fund managers/ head of equities/ this particular analyst and for what? Do you think I’m being impatient? Fundamentally my question is how do I let them know I want them to mentor me after I leave? I know that would be asking a lot… what do you reckon?
whatsyourgovt: Thanks very much for your advice. I’ll come clean. I’m actually a female so I guess things will work slightly differently for me. I don’t know where all the fund managers are lurking in London - actually it’s probably in their respective offices! Which is why I’ve been trying hard to get some kind of rapport going at my current firm…So how did things pan out for you? You communicated your intentions and then what? What were you doing before - were you in a related field?
So I think I might have a meeting lined up with one of the fund managers next week. He’s an incredibly nice guy and I’ve targeted him because I think he does want to help. IF I get that meeting with him, I’m going to present my case to him one last time and ask him for the opportunity to participate in the equity team’s work over a a 6 month period, just to get some experience.
I will suggest that I help with the following activities:
Updating portfolio worksheets on a daily base Extracting data from Bloomberg and presenting this in form ready to be analysed Providing mini write-ups on top stock holdings Filtering quantative work from sell-side broker for the team Monitoring portfolios cash positions and providing regular update to PMs Monitoring relevant index to update portfolios Writing minutes of team meeting Inputting orders into trading systems Preparing and submitting broker evaluations Updating models and Financial Analysis
What do you guys think? If any equity research analysts/PM out there can suggest further activities to add to this list, or provide additional advice please do chip in.
Your advice is GREATLY appreciated. Thanks very very much!
A female accountant quoting rickie ross, damnnn… Anyway, my story is probably much different from yours because I was in a sales related role and hated the role but loved the money. During this period i networked in the traditional manner very extensively and had little luck (I’m not a mit engin nor a phd in math) and thus i had to reassess where i wanted to go. Having said that, after meeting quite a few people through outside activities, i was able to build friendships and leveraged that into interviews. The key point to all this is that someone of my credentials (my resume is comparable to a caveman’s) was able to get a live interview on multiple occasions not based on merit but based on who i knew. The old saying of it’s not what you know but who you know may not have been more true for me. As a final disclaimer, i am still in a sales role not because i wasn’t offered said positions, but instead, because i am a prostitute for money and i saw more of an opportunity with this career route. Good luck,
whatsyourgovt: Oh so that was you! Great analogy with the druggie - as you can see it really struck a chord with this female accountant. Think networking came more easily to you given your sales background. I on the other hand…
Itera: Yeah, I’m not bad if I may say so meself…I wish it were as simple as though! Fair point, itera. I realise that being a female and trying to break in is a different ball game altogether… That alone won’t deter me from pursuing this career route though…
Let’s not digress from the main topic - can any PM’s/analyst out there shed any light on the kinds of things you would want to hear from someone who wants to join your team, even if it’s just as a support assistant. What kind of things would make you want to help or mentor someone keen to enter equity research?
Think for someone in my shitty position networking’s gonna have to be the name of the game
*sigh*
REALLY not looking forward to being unemployed but staying in accountancy’s killing me. Can’t apply for another accountancy job, I just can’t face it… I’d rather spend countless hours researching companies for inclusion in my own portfolio then being chained to a desk doing some brainless nonesense, which to be frank, doesn’t really make much of a difference to the world anyway…
Brain’s turned to utter slush especially over the past year i swear…
I begged the fund manager to give me a job/a lead. Gave him my CV and a research report I’ve been working on. So he’s linked me up with another fund manager and we are having a (what seems to be informal interview) meeting next week. Best get working on my stock pitches…
Bet you no job offer will result from this experience but at least I’m on people’s radars now.
I can’t believe how long it’s taken me to grasp the fact that networking really is the way to go for someone in my situation… more later…
I would NOT hang around AF asking for advice. Heck, don’t even listen to mine if you’d prefer. AF is full of a few types of people.
Do gooders who’ll blow some sweet sounding advice up your arse to make you feel good. They will bake you up a delious looking delicate when in fact it’s just a dogsht cake.
Bitter angry has-beens who couldn’t hack it and want to recruit others into their misery. Lot’s of CFA/MBAs on here who work boring office jobs (mine included) and swear that you’ll never get a FO/ER/IB job without a TOP 2 MBA, 12 Inch Cock, a famous investors last name, and pass each level of the CFA with all deciles greater than 70 on your first try.
Complete asshats who troll and discourage you.
A recent college grad who signed up for L1 of the CFA and now knows all there is to know about everything. He/she may mean well, but they don’t know what the fck they’re talking about.
A management level CFA Charterholder in a reputable firm who feels a sense of self actualization by helping out the little guy.
Most people fit into one of these 5 categories with very very very few hanging around when they fit #5. The vast majority will only steer you wrong.
My .02. Work hard in your current job, network with those whom have the job you want, and continually scour job boards for openings. Stay current on the market, keep getting better at Excel, and overall just remain POSITIVE! I’ve done all of the above and it’s turned out pretty good for me.
I will say NUMI, BROMION, and a few others are in #5 above. No offense to the AF Bretheran, but most of the other posters fit into 1-4.
Well, as expected, the chat with the other PTF manager didn’t end in a job opportunity, because they’re just not hiring at entry level… But he said that he would let HR know that we spoke and if anything came up then they’ll call
During the other 50 minutes of our meeting I learned some pretty interesting stuff about equity analysis/valuations/technical indicators and most importantly finding a view that is DIFFERENT from that held by the market. The meeting was totally worth it.
So when the sh%t hits the fan from next week onwards (when I’m officially unemployed), I will be busting my guts reading analysing, learning and hopefully sharing ideas. I think I know what to do. It’ll require unbelievable amounts of self-believe, persistence, drive and not to mention courage but I’ll get there eventually! Oh yes I will!!!
ok 2 mins into this 5 min video and I had to switch it off cos he began to annoy me - I’m sure he’s got the best intentions Thanks for the link anyway…
Thoughts over the last couple of days:
Had the best start to the day. Recuiter called me up pushing some crappy accountancy position - I said no thanks but I want to go into ER. He told me “no it won’t happen” and then, that he can’t help me. Then he asked me if I could connect with him on LinkedIn. I said sure, and went on to decline his request when it came through. I’m sorry but they really are one of the lowest forms of life…
Attended my first networking event yesterday. Initially felt like a loser. No one actually actually wants to talk about the stock markets or specific companies because they’re too busy “networking” with important people. Funny thing is the important people want to talk about stock markets and investing, so that makes me a rare commodity in that crowd ;p. The level of artificialness is INSANE. i CAN do it. I MUST do it. I WILL do it…
AgreeD with you. I have talked to numerous recruiters and they always try to push some crappy accounting positions. They always tell me that it is impossible to move to ER from back office and that I do not have the proper skill sets to do so. While I do understand that it is very hard to move directly into ER, it’s a moral issue for them to tell us to give up our dreams and settle for the role they are trying to sell. On top of that, they sound like they are doing us a favor.
