Equity Research Assistant Interview
Landed an interview for an equity research assistant. Having a hard time researching this type of position. Any advice on how to prep for this interview?
Landed an interview for an equity research assistant. Having a hard time researching this type of position. Any advice on how to prep for this interview?
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know a couple stocks to pitch, market trends, look @ sample research reports on Y!Finance, etc
I know at least one person who is a very successful buyside research analyst, who started at the same firm in an equity research assistant role. Treat it like a research analyst interview, wow them, and go from there- if they think you could be a research analyst rather than just an assistant from the get-go, you'll not only get the job but will also be given more relevant work sooner.
But this is for a research assistant, not analyst or associate. Isn't this more of a support role? Would I be expected to know a stock pitch? The job description says that familiarity with stock is simply "preferred." I'm not looking to be an analyst for a full-time career, just looking into a full-time job in the interim until an actuarial position becomes more attainable so I'm fine with an assistant position. I don't have an MBA or advanced degree and they are aware of my credentials. Does anyone know what types of questions are asked of assistant positions?
At the previous buy side shop I worked at, the junior assistant trader was transferred to be the assistant of the equity research team. That was right before I left but from what I remember his duties included:
The shop I was working at had a history of promoting assistants to analyst positions, so what notthehospitalER wrote is true and exists. Good luck!
You may not be involved in investment decisions etc, or even want to be an associate/analyst- but what's the harm in knowing some stock pitches etc? It can only help your application/interview. If familiarity with stock is preferred, I'm sure they would prefer you to have a stock pitch/they would like you to demonstrate your knowledge.
Keep in mind that while you may not want to work in research, and this is an interim job for you, you still want/need the job- and there will be people you are competing with for it who DO want to work in research, and will come to the interview prepared to show their commitment to becoming an associate/analyst at the same firm. You need to interview at least as well if you want the job.
I don't even understand what a stock pitch is. This interview is gonna go great.
Expect them to push back. Be confident when they do, not disrespectful but confident.
just don't say you like Apple/Google/etc.
If you want to go on a unique route mention ParkerVision (PRKR) winning its patent infringement suit against Qualcomm and potential impact on balance sheet; talk about IP trends and such to top it off. Just an idea.
Look on Mergers & Inquisitions for how to format/present a stock pitch. Go to a website like seekingalpha.com for investment ideas. Be able to talk about at least one confidently, and definitely know about the firm and what they do/what sectors they invest in etc.
Don't get discouraged, they obviously like you enough already to have invited you in for an interview. You may not need to pitch a stock, but it's helpful to cover all bases. Also, if they don't ask you to pitch a stock, but you have one prepared and bring it up on your own, they might love that.
Since you're interested in actuarial work, I would suggest looking into something like AIG as a potential stock pitch. It's a great investment right now, but not really unique because a LOT of buy-side firms have invested in it. That being said, as the interview is for a research assistant, you won't need to provide any groundbreaking ideas, and you may be able to talk confidently about AIG/become familiar with it more quickly than you would with other firms, based on your experience. Hope that helps and good luck, feel free to ask about anything else.
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