Equity research associate

I cold called their Houston office if they were seeking associates. They emailed back asking for a resume, and then I got scheduled for an interview.

The phone interview was pretty standard and softball. They asked me to walk through an income statement, what are the 3 components of the cash flow statement, and what is an example of a cash flow from financing. Then they asked why equity research, why energy, and what is a stock that I'm following.

The second round interview, however, was significantly more difficult. The accounting questions were more technical and they threw in some brainteasers as well. For example, they asked where does capitalized interest fit into the cash flow statement, and it's been a while since I had to deal with that. They also pushed more on the stock pitch and probed into the details. They also asked about my modeling experience, which was limited due to my background in wealth management; I'd highly suggest in retrospect picking up something like Breaking Into Wall Street or similar so you have something more substantial to talk about, since I think that might have dinged me.