Launch Research Associate

Very structured process for the Launch RA position. They hire people both at the undergrad level and at the experienced level (for the same position). They also have interns that will be converted to full-time Launch RA's. They allocate spots to experienced hires. Undergrad hiring takes place in fall (not sure exactly when since I am an experienced candidate).

For experienced hires, they start taking applications in March (they moved it up from April) this year. They have a very large pool of internal candidates to choose from so the window for applications is very very narrow. External candidates were outnumbered by internal candidates when I interviewed. Internal candidates are operations related people.

First round phone interview is with 2 different people separately. One lady always asks "what's the biggest risk you've taken in the past 12 months?" They will also ask you to pitch a stock. If you pitch a short, they will also ask you to pitch a long. Questions are qualitative, e.g. what's a book you've read recently? Are you a value or a growth investor? Why? What motivated you to start investing?

If you get picked for the on-site, they fly you to their Boston office, all expenses paid. They've even flew internal candidates from London and Australia during my on-site. The on-site interview process is ridiculous. They have you come in at 7AM and lock you each in an office to look at two huge stacks of papers related to two public equities. These are very large companies, so think LULU, MAT, CMCSA (all previously used). You need to choose 1 and research it using ONLY the materials provided (10-K's, 10-Q's, and transcripts) in 90 minutes. Then, you go about your day with your interviews (six 1-on-1 interviews). These are generally very behavioral, almost no technicals, and a few brain teasers depending on who you interview with. Very cool people and a LOT of women. Far more women than one would expect at a finance firm. At some point during the day, you'll be called in for a panel. There, you will pitch your stock (do NOT pitch a hold) in front of 6-8 people. Only 1 was a man.

The whole thing finishes after lunch, and you're out of there at around 1-2pm.