I have been working in the BO at one of the major investment banks for the past year. Over this time, I have been networking like hell and have finally gotten an interview with the equity research department. I had my first round interview a few weeks ago, back to back 30 minute sessions. I did well all things considered (FYI: if you ever get an equity interview have 5+ stocks ready for a 3 min. pitch) and was asked to shadow a couple of associates next week. At this point everything is very informal, outside of HR setting up my interview, and I’m not sure what the next steps are going to be once i have finished the shadow sessions. While i’m sure HR will follow up with next steps, what advise, guidance, suggestions, one-liners, would you guys have for me at this point? Do i try to blow these guys minds with my own opinions when i shadow them, do i offer to work for free, do i solicit sexual favors? Obviously my end goal is to get hired, getting to that finish line is the goal, multiple paths can get me there, what do y’all think?
Relevant Background: 1 year work xp, multiple interships, state school GPA3.0, passed CFA LI exam, L2 candidate, grad. 2013 double major in fin/acct., manged a 300K portfolio for a class in college.
Thanks infinitybenzo! Thought the rest of you guys would be a little more helpful, this isn’t WSO is it? All kidding aside though, let me give you a bit more background. My two interviews were with the hiring manager/person that runs the associate pool and the head of research for the bank. I only mentioned this was informal as I got this set up through networking and did not go through the traditional recrutiment/interview process. I have recieved feedback after the review, and was told that it went really well (they set my shadow sessions an hour after my interviews.)
Moving forward, the next steps are going to be a couple of shadow sessions with associates who cover the sectors of the market that i am interested in. I have been preparing by staying up to date on the markets/news, reviewing the models and research reports they have written, and brushing up on my fiancial statement anaylsis skill.
Back to my question: What general advise would anyone have for someone in my situation? Is there anyone on here who has worked in equity research who would have some advise for me? If so, what would impress you if you had some shadow you for a day? What qualities, skills, traits, would you be looking for?
Given your experience (or lack there of) my advice to you is following:
Stop trying to impress
Stop trying to impress
Stop trying to impress
Do as you are told and only give an opinion when asked or when the moment positions you for it. After that just nod your head in agreement with whatever you are told.
In my opinion, you do have a chance and it does happen quiet often that people break into investment banking with no proir experience (me an example) but this happens for specifc reasons which I am not going to dwell into here. Having said that, I think the main reaosn they might give you an offer is that they want someone who they can mold and shape as they wish and ultimately follow orders without arguing back and you will just make the perfect fertile ground for that. They are simply not interested in your opinions given your background (hence my first 3 points).
While you should do your best, I would caution that these were nonformal interviews (as you personally stated as well) so you do have to discount it somewhat. I’ve been happy to have back office shadow and learn about things, but when looking to hire for the team, I tend to judge pretty objectively with work experience usually by far the #1 factor
Equity research is an info game. Whoever gets the info the fastest, has the most info etc. I havent worked in equity research but my colleague has and thats what he says it is…and he said it was retarded, but better than IB, which he also did. We work in PE, different game…and better, my opinion…and his.
I don’t work in ER and I would disagree to Ramos. BO is info game. Whoever gets the info the fastest, the faster I can reconcile positions and yell at PB for breaks.
How is two years experience in an FP&A role viewed for an entry level analyst position? How much would you discount this experience for a L3 candidate?
Alright, so after finishing the shadow sessions and a couple months of email exchanges, i have been extended a “formal interview” offer for an open spot on one of the equity research teams. The role is for a junior associate postion at a BB. I wanted to ask if anyone on here could give me some advise on what the interviews intail, and more importantly what it takes to standout and get an offer?
I understand i’ll likley be asked to pitch a stock, cover valulation models, behavior questions ect.
What else should i be expecting or could I do to stand out?
I’m going to say this before someone else does and I mean this to be helpful instead of in poor taste, but the first thing you could do is start spell checking all of your writing. What you have written would not be acceptable for a front office equity research role.
I was about to point that out as well. Some people don’t realize how quickly poor/sloppy communication skills can flat-line the momentum for an opportunity.