How to Land a Good Asset Management Internship For Junior Year?
Hi everyone,
I was wondering what advice people have to land an asset management internship at a good firm for junior year? I am a rising junior with a 3.3 GPA (I know its not ideal). I did a finance internship freshman year, and am going to do an accounting internship for my sophomore year because I could not find a better internship. Is it still possible to land an asset management internship at a good firm for next year with these credentials. If so, what steps should I take to increase my likelihood of landing one?
What do you want to do at an AM firm?
I want to do something that is more investments side. I want to ultimately become a portfolio manager. However, I know that it will definitely be harder to get an investment-side asset management internship, so I am down to do anything at an AM firm as long as I can get my foot into the AM firm and get exposure to AM.
I understand. Thanks for sharing.
Yes, it's very difficult to get into a research role at AM. However, ultimately starting today, you should work on developing the skills necessary to function as a buy-side research analyst because having exposure to AM (whether it's product management or operations) will not magically equip you with the skills.
What do you recommend me do to develop the skills necessary to function as a buy-side research analyst? Also, what kind of internships in asset management can I apply for onceI have developed these skills? Finally I have not networked much, and I was wondering your advice on networking as well because I know that is crucial for landing an internship in asset management.
I would hold off on networking until you have developed marketable stock pitches to reach out to places you want to work at. Your top priority is to develop the three core skill areas: 1. financial modeling and analysis 2. valuation 3. business analysis. For 1, you can take an online video course (I do not endorse any for free). For 2. you can watch Damodaran video or read the McKinsey book 3. You can read Competition Demystified as a start (I do endorse that for free, because Bruce Greenwald's book sells itself). You are welcome to hit up my book list.
Once you get those down, start applying the techniques on companies.
Some of larger long onlys have structured research internships (like Fidelity and Capital Group), you can apply to them but I doubt you will get a look based on your current profile. On the job you will be given stocks to analyze and learn from portfolio manager and full-time research analysts through osmosis.
You mentioned how the structured research internships prob wont look at me based on my current profile. I was wondering if I should apply to smaller firms that will give me a better chance of getting looked at and offered an interview. If so, what kind of smaller AM firms would you recommend me applying to.
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