Hello guys, I have a call with an Equity Research Associate in a few days and I just wanted to know what are some questions that I should ask him related to his role? I just finished my first year at a Canadian Target school and I am currently exploring the different financial streams, ER being one of them. While I know a bit about the industry I have never networked with someone in it and would appreciate any help I can get. It is also my first chat during Covid so if anyone has any tips about that, I would appreciate that too. Thank you!
Trending Content
Career Resources
While this is coming from a US perspective, I can't imagine it'd be that different in Canada.
As a general theme, you'll want to ask whatever makes him/her talk more. Most of the advice you'll see on WSO and other boards focus on getting discrete bits of knowledge, but I find that an equally important part of the call is hearing 'how' they talk. As someone who has had the opportunity to do a lot of different things in life, I've definitely noticed that various professions have vocabulary/grammar/style specific to their field (i.e. accountants sound like accountants; bankers sound like bankers; doctors sound like doctors). Picking up on this will ultimately let you blend in during future informational interviews or actual interviews. Keep in mind, a huge part of interviews is the interviewer deciding if he can stand dealing with you for 12+ hours each day and if you seem culturally similar, it goes a really long way.
Now as for how to question the associate, my go to strategy begins with something like "Hi so-and-so - thanks for taking the time to speak with me. Now I want to be respectful of your time, but if you think it works, maybe I can give you the quick 30 second snapshot of my background and then maybe you can provide a bit of your background just to level set?" Usually they'll go along with it, and just be sure that you have a clean, concise, and short intro that summarizes you. Let the associate drag on longer. Make sure you pay attention to what the associate is saying and think about what parts of his response are analogous to your own background/experiences or any areas where you have legitimate questions.
From here, it gets super free form since you'll have to ask questions that are relevant to what they just said since it shows you are listening. Common ones include "What interested you about the field"; "if you were starting out today what advice would you give yourself", "can you describe for me what goes into a typical day at work", "favorite/least favorite parts of the job", etc. Whatever you do, don't make your ask for help getting a job at this point unless the associate offers it sua sponte (rare).
Lastly, if the conversation goes really well, then you can ask the associate something like "Hey so-and-so, this was very helpful. As I'm a first year at uni I only recently put together my first resume. Would it be ok if I sent it to you to get your thoughts/comments?"
If you want to be more aggressive, "Hey so-and-so, this was very helpful. As I'm still learning about the industry, I was wondering if you might be able to provide any references to other people that I could speak with". - this one might be particularly effective if the conversation went well and you have interest/background in an industry not covered by the associate. In this case, you can ask if he knows somebody in TMT or healthcare if he's a FIG or consumer guy for example. This helps you make an immediate contact with somebody else.
If you want to be really aggressive, "Hey so-and-so, this was very helpful. While I'm still early on in my schooling, I did want to ask if you are aware of any internship opportunities, either during the summer or semester."
Hope this helps. I remember when I first started doing the informational interview bit and in the beginning it really does suck. But don't worry, it will get better with practice and experience. Just be sure to self reflect after these calls and ask yourself what you should have done differently, what do you wish you asked that you didn't, etc. Feel free to ask any follow up questions.
Thank you so much man! I actually sent him my resume over email to "give him an idea on my background" so I hope that wasn't too bad of an idea as I've seen many people working at firms state that they don't open an email unless a resume is attached since it could be someone wasting their time. You have helped me a lot but the part I am more nervous is how do I end the call? Should I end the call or let him and what do I say? I just feel like in person that's much easier but over the phone some social cues are lost. Thanks again!
Sophomore year of college I did 44 informational interviews (on the phone as well as in person) with nearly every level of finance professional out there. One of the biggest things to remember is that they are just regular people. Don't try to manufacture an artificial persona. Listen intently while he/she is going over their background. If you aren't a natural conversationalist maybe take a few shorthand notes and drive the conversation from those given the opening. If you sense they are tired or burnt out, don't be afraid to float the idea of pushing the call to a later date.
Provident architecto maiores omnis voluptatem. Et nulla cum delectus in ut nemo occaecati.
Quia autem nulla aut impedit veniam saepe enim. Impedit distinctio ratione voluptatem in nam sit modi nemo. Voluptatem explicabo blanditiis dignissimos deleniti ut. Voluptates inventore eos sed et dolores.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...