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Hi - I've recently been accepted to study PPE at the University of Oxford and shall almost definitely be attending. I'd consider Princeton, however, it's unlikely I'll be admitted and it would cost a lot more and be less fun than Ox. The grade requirement is not very strict and I should have no...
How do I go from financial services to a hedge fund
I need help. How do I go from being a financial advisor to a hedge fund career? I enjoy a lot of the benefits of being financial advisor but half of what I do is sales, and the other half is relationship building. My masters degree studies were predominantly in economics, and capital markets, so I...
Had Off the Cusp Interview with MD
I'm going to purposefully leave out some details from this post to avoid being "outed". I had an interview the same day I handed my report to an MD of a notable bank. An hour after handing it in he emailed me asking me to meet with him for 30 minutes. When I was about to meet him, the first thing I...
Macro research vs ER
Hey everyone! I’m an undergrad currently considering my internship options for next summer and I was hoping that WSO could shed a little light on an issue I’ve been struggling with. I’ve always been more interested in ER but I currently have an offer for an internship in macro research at a BB...
If you could cover any sector, what would it be and why?
If you could start over and cover any sector from the start which would it be and why? Is there a reasonable argument that any one sector particularly positions you well for eventual generalist investment positions? Bonus: where do you see consumer discretionary fitting into this conversation? I'm...
Pay Cut for European ER Analysts
Due to the introduction of MiFID II in Europe, banks now have to be more transparent about how they charge their clients and "must charge separately for research and trading." According to a report released by Greenwich Associates, Research budgets are also being slashed. The largest funds in the...
DCF/Comps Weights...how do justifiy subjective decison?
TL;DR - tried tweaking DCF to make it more optimistic but cannot honestly justify tweaks. Resorting to arriving at target share price with DCF /Comps weight - don't know how to justify/explain my decision for 60% DCF 40% Comps. Need some guidance. I've built a thorough DCF and comps model from...
Morgan Stanley Equity Research Junior Associate Program
Anyone else interviewing for the position? the 1st superday was on 10/3, but they have more on 10/10 & 10/17. Would MS wait till the end of all the super days to send out offers, or on a rolling basis?
Big 4 M&A> Startup> Equity research> VC - can I still go to PE?
Hi all. I live in Central Europe, started with Big4 M&A (2.5yrs), joined a startup than which failed (6m), tried Equity research at a local boutique brokerage firm, but didn't like it (1yr) and now working for a VC firm that concentrates on Eastern EU (1.5 yrs). Started working after finishing uni...
Pro-forma income statement model for ER interview
This might be a dumb question but I searched around and found no related answers: I am building a pro forma quarterly and annual income statement model that covers 2017 and 2018 as requested for an interview. I am familiar with 3 statement modeling, but the difficulty arises when they requested that...
In search of a mentor - Equity Research
Good afternoon friends, mentors, and esteemed members of the community! I am pursuing my MBA in Finance and Accounting from the University of Rochester (Simon Business School); I graduate in June 2019. I have 5 years of IT development and IT consulting experience and currently working as a Finance...
Choosing Between Buy Side vs Sell Side in Equity Research?
So I want to do equity research. I know that there is sell-side and buy-side and, so far, I have a few distinctive arguments for both (see below). What I would really appreciate to find out is your views in terms of the experience quality that both offer. P.S.: Not trying to touch on things such as...
Sell-side vs. Buy-side Equity Research
I'm a rising senior at a non-target who recently decided not to be pre-med anymore, so I'm looking at my options in finance - I apologize in advance if what I'm asking is silly, and please correct me if I have this all wrong. From what I understand, at GS , the typical entry-level (post-UG) ER role...
Resume for ER [Recent Graduate]
Hello, I recently graduated and accepted a corporate finance role because by the time I received the offer, I was in a position where I needed a fall back and a source of income while I search for IB / ER positions. I have been working there for about two months but am still looking to get into ER ....
Transition from Corporate Finance to Equity Research
Hello, I recently graduated and accepted a corporate finance role because by the time I received the offer, I was in a position where I needed a fall back and a source of income while I search for IB / ER positions. Plus, the firm I work for is phenomenal. I have been working there for about two...
SEEKING ADVICE for internships interviews: I just blew mine right out of the water!
Hi guys, I'm making this post in hopes to get professionals such as yourselves to help students like myself to better prepare for technical tests in interviews for entry-level jobs and internships - because I just screwed mine up. I'm a third-year undergraduate student with no experience in banking...
How large is the Stifel Consumer ER team?
How large is the Stifel Consumer ER team? I'm filling this section out because I haven't filled the character count. Thank you.
Non-Target, 3.0 < GPA, non-finance major, to ER
Background: I went to a non-target, had a 2.7 GPA, and didn't study finance in college. Ended up landing a job in ER . I apologize in advance that I have failed to contribute as much as I should to these forums. WSO was one of the main tools I used and find myself looking at boards plenty often. My...
Equity Research Interview
Hey WSO , I have an equity research final interview on Friday. This is the opportunity I have been working for since I graduated undergrad five years ago. Needless to say, I do not want to mess this up. The position is in oil and gas. I am expected to present a stock pitch, preferably an oil and gas...
Canadian IB vs Buy Side ER Internship
IB at one of the larger Canadian banks versus ER internship at Fidelity. Internship for summer after third year. Thoughts on lifestyle/comp/exits/etc. between these for full time? Long-term goal is asset management.
How related and different are the roles of an Asset Management analyst to a Equity Research analyst
Both seem very similar to me. What exactly are the differences? Which are the top firms in Chicago?
Is My Career Plan Practical?
I am moving to Waltham, MA soon for my MA in International Economics & Finance beginning this year at Brandeis University. I applied to Boston College's MSF program too but couldn't make it through the admissions. I had plans to apply to European programs but ended up applying to the USA. Putting my...
Q&A: Sell-Side Equity Research today
I’m an MD in equity research with 15+ years experience. I’ve worked at bulge brackets , mid-sized firms and regional firms. Ask any questions on life as a an analyst today vs. several years ago including pre- settlement and bulge bracket vs smaller shop.
College Dropout but Family Office Analyst - some advice?
.................................................................................................... WSO Family Office Database; check it out here
Doctor thinking of exit opportunities
Dear all, I am new to this community but not new to contemplating my exit from clinical medicine. I have been weighing pursing consulting or equity research in biotech/pharma/healthcare. I crave learning about innovative solutions in healthcare and medicine, creativity, being surrounded by more...
Boutique Life Science Consulting to Larger Firm to Get to Corp Strat / Biz Dev?
Hello, I have been lurking here for a while and am finally posting. I am currently a second-year consultant at a boutique life-science consulting firm and would like to know: 1. Is it possible to transfer to a larger, perhaps more well-known firm? 2. If yes, should I? What kind of exit opps would...
The right time to lateral?
BACKGROUND: I have been at a Credit Rating Agency (Moody's, S&P, Fitch, etc.) for four months. I started straight out of undergrad as an Associate Analyst (comparable to an analyst in IB or associate in ER). I graduated from a small non-target with a 3.9 GPA, Economics and Poli Sci double major, and...
Should I Read Academic Research On Finance?
This week, a prominent American Economist famed for his work in Behavioral Finance, Richard Thaler, took home the Nobel prize in Economic Sciences. As I found myself reading these headlines in the news I found some pride in being able to say I was already familiar with his work and the work of his...
Stock Idea: Dividends from Eminem
Ever thought about owning Media Royalties as an asset class in your portfolio? What would that even look like? One example, is profiting off every time The Real Slim Shady is streamed in Spotify, Pandora, or Youtube. According to Royalty Flow, which recently filed for an IPO in September, you can do...
Do I have a chance at breaking into an equity research/investment organization at this point?
What i am wondering: is it wise at all for me to spend my time applying to investment organizations (is my resume going to continue to get thrown in the trash?). I'm a graduating (in may) economics student at UW-Madison and have a 3.5 GPA with experience interning at a small, no-name real estate...
Question about potential job opportunities
Hello, I am an undergraduate student at University of Nebraska Lincoln. I currently study biological sciences and am set to graduate in August 2018. Even though I study biological sciences, I wanted to work in equity research because I have been involved in the stock market since I was about 14...
When and How To Exit?
Been in ER for almost 2 years; clearly an excellent opportunity and learned a ton, including numerous certs etc. I've realized I' extremely unhappy on the job, granted I am doing it well and better as time goes on, but I know I would never want my bosses job. I've just had too many conversations and...
Choose between BoAML ER or PIMCO product analyst?
Received summer internship offer from BoAML Equity Research and PIMCO product analyst, both at London. Any thoughts on which one is better? Like return rate, salary and career path?
Conflict of Interest: Writing Seeking Alpha article on same company you will be working for
All, John Cena back in the ring. I was lucky enough to accept a 2018 IBD summer analyst offer in NY at a mid-tier BB (BAML/Citi/CS). Rough recruiting process and many botched interviews but by the grace of God I was able to land an offer. #### “There are moments in life where it gets so hectic...
Bloomberg Intelligence...any info?
Hi All, currently looking into a role as an Equity Research Associate at Bloomberg Intelligence. -Is the experience comparable to typical sell side research associate? i.e. industry research, modelling, meeting with management teams etc. -Has anyone actually the read the research they produce, what...
Seeking advice/commentary on equity research report
Hello all, I'm a senior at a target school in NYC with a summer of internship experience at a quant shop. I'm looking to transition toward equity research or perhaps PE. I've produced a write-up on Axon Enterprise (AAXN). As I'm planning on using this as I apply for jobs I would like some commentary...
West Coast Equity Research Opportunities?
Hi, I am currently an undergrad at UC Berkeley. Do you guys know if there are more equity research opportunities in the east coast or the west coast? and how do I go about finding opportunities in the west coast? Thanks!
Elijah Watt Sells Award
"The EWS award is bestowed upon CPA candidates who have obtained a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination and passed all four sections of the Examination on their first attempt. A total of 102,323 individuals sat for the Examination in 2016, with...
Importance of modeling courses (BIWS, WS Prep, etc.) for ER?
answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.answered.
Eminem's Rap on Trump: Good or Bad?
Last week I wrote a post which mentioned the potential to buy equity in Eminem's music catalog from 1999-2013. Since writing that post, Eminem went on the BET Cypher and lashed out at Trump with his freestyle called, " ". In light of this new information, the value of Eminem's royalties immediately...
II 2017 Research Rankings
II research rankings out...can anyone post the full results? Any suprises? Also, for those who work with an II ranked analyst, do you get a better bonus or is there any uplift in your compensation?
How can I possibly break into Equity Research?
Hello people my first post ever in wso! My current situation: I am a recent graduate with an accounting major from a semi-target school. My school has a very top accounting program but it's only a semi-target. Currently, I am in NY trying to seek a job opportunity to begin my career. My GPA is 3.41,...
Which college program is more beneficial?
I am looking into colleges (specifically UT and TAMU), and there are a lot of different programs to choose from that seem to be highly beneficial. However, I can't decide whether a program focusing on IB or an analyst program would help me get my foot in the door for ER . From what I've read, it's...
NON EU STUDENT QUERIES ABOUT MS FINANCE AND RECRUITMENT IN ASSET MANAGEMENT
Hi all! I am new to WSO . I am a non-eu economics undergraduate. I am planning to do masters in finance just after my graduation also I'll be sitting for CFA level 1 in my final year(Dec, '18). Investment management graduate jobs are not much there in my country and I am personally inclined towards...
Is an internship important for equity research?
I know an internship after junior year is essential to get an ibanking job after college, but is it the same for equity research ? I'm currently a sophomore and want to get into equity research and am wondering if I should get an internship. If so, is it fine if I do it this summer or should I wait...
Interview for Evercore S&T ER Sales Summer analyst 2018 Please Help
I just got a interview for Evercore ISI equity research sales, can someone shed some light on it. What should I expect at the interview?
What is my Career Path to Working in Asset Management
QUESTION: I am aware there are threads on this, but my post pertains to my personal situation. I am currently a first year associate analyst at a Rating Agency and I want to make my way to the buy side. I don't care too much for working at a hedge fund, I am thinking more along the lines of a mutual...
Best Online Brokerage for Equity Research Reports?
Does anyone know what research you can access through the various online brokerage platforms? I don't have contacts in equity research or any other means to get reports (no Bloomberg terminal) but I'm looking to get my hands on some and this seems to be the best bet. Ideally I'm looking for the same...
Modeling Apparel Retailers
I am building a financial model for apparel retailers and are faced with the following challenge: How do I forecast growth rates in the current environment? At present, mall traffic is declining, online retailers like Amazon are aggressively moving into the space and in the case of many apparel...
Equity Research Internship Interview
I have a superday coming up for a 2018 equity research internship, and I'm currently preparing my stock pitch. For internship interviews, do they expect us to calculate and perform a valuation for the company we pitch? If so, what model is best (DCF, comparable companies analysis, etc.)?
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