1/10/17

Hi all,

I'm from the States and am currently in London on a tier 4 student Visa at a non-target doing my classes in the evening, and am spending all my free time trying to prepare for upcoming interviews in ER this spring for a FT London gig (I am hedging my bets applying to other positions but this is my number one priority). I'm in my mid 20's and have multiple relevant internships and solid industry experience so I'm preparing to make the move.

Londoners in ER, please help me out as I want to make sure I'm doing this all right in terms of prep. With a few follow up questions, am I hitting all the right points in terms of my focus?

i) solid understanding of UK GAAP and IFRS
ii) research report / stock pitch on large-cap equity (does this need to be a FTSE or a major European equity? I'm obviously most familiar with US equities so I was considering making a report and subsequent pitch out of a large-cap US equity most would know, but if UK/EU companies would be better then I will do so)
iii) technicals concerning valuation, what drives a stock and the stock market, comps and DCF, linking the three statements
iv) keeping up with the UK, European, and US markets and overall global macro situation
v) background info on firm I'm interviewing at (should you be familiar with certain analysts from the firm and be able to reference any sell-side research about a company they've written about or anything more granular like that?)

Please let me know if there's anything I'm missing or should drop. Right now I'm most curious if I need/would be more appropriate to change my research report / pitch to a UK/EU stock. Your feedback is greatly appreciated!

edit: added bullet V

Comments (6)

1/26/17

When's ur interview?

Financial Modeling

1/28/17

I have no interviews at the moment (haven't applied/reached out formally yet), I'm just studying for potential interviews so that there's no panic if something comes up within less than a week or something. I'm still working on an equity research report and UK GAAP.

1/28/17

You r right on point. Just gotta focus on those 5 points and understand the stock u r going to pitch very deeply. Be able to talk without hesitation and def understand what makes them different from its competitors. Also understand the industry as a whole.

In terms of the company u r going to pitch, I pitched US companies for positions in Europe without a problem. What they want to see is ur approach to the valuation, ur comprehension of the company and its strategy and subsequently the industry.

If you cover all the points u mentioned above ull be more than good.

Also, out of curiosity, why r u seeking a role in London and not in the US?

1/29/17

Awesome, good to hear. Thank you.

Can you or anyone answer if London banks and research firms will cover only UK companies or do they cover EU as well?

I went to school here for a variety of reasons and have already built up a solid network along with friends and family being here as well, definitely understand it's not going to be easy getting a work Visa but have been encouraged by most people in finance I meet that it's absolutely possible. I've also moved a lot over the past several years and am done moving, and know I can maximize my chances here.

Best Response
1/29/17
OCbFree:

Awesome, good to hear. Thank you.

Can you or anyone answer if London banks and research firms will cover only UK companies or do they cover EU as well?

I went to school here for a variety of reasons and have already built up a solid network along with friends and family being here as well, definitely understand it's not going to be easy getting a work Visa but have been encouraged by most people in finance I meet that it's absolutely possible. I've also moved a lot over the past several years and am done moving, and know I can maximize my chances here.

They can cover anything they want. However, London-based teams will cover European equities most of the time, but it depends - if you're an independent equity research shop that happens to focus on Latin American equities based out of London, that's what they will cover. Some might specialize in UK-companies only as well, but generally all of Europe is the name of the game from London as a broad brush.

1/29/17
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