Can't Break Into ER
Hey Folks,
I am about to graduate in December and I'm having trouble getting any ER interviews (West Coast). I don't have relevant experience (only 2 Corp Fin internships) but have strong passion for a particular industry with multiple stock pitches written. I know that if I get the interview I can have a decent shot, but getting to that point has been difficult. There are a very limited number of openings and even those that are "entry level", require 1-3 years of experience. I have also tried to network but usually feels forced. Wanted to ask two questions about my options:
1) What can I do at this point? I know time is against me as I need to get a FT job in 2 months. Does cold-emailing random analysts with stock pitches help? 2) What are some alternatives that I can use to transition from? Would doing FP&A or valuations for 1+ years help a bit with "Industry expertise" along with a CFA? I have also had a few lower MM IB interviews but the competition is tough due to my lack of interships
Thanks for the help.
bump
2) Yes, any kind of FP&A, Big 4 or S&T type of experience is what they're looking for in 1-3 years experience. And yes, you should complete at least CFA Level 1 (ideally have L2) for anyone to think you're serious about making the switch.
Frankly, the majority of the ER jobs right out of school are at top BBs and only available to students at Targets or top of their class at Semis with relevant internship experience.
Thanks. I actually got L2 already but I'm lacking on the experience front. I have not seen (from my limited research) too many transitions to ER from the roles I described . Which one would have the highest potential to help with the transition? Where I live there are a shit ton of FP&A roles right now so I have been targeting those but not sure if maybe I can leverage my CFA/education for something better.
Btw, my ultimate goal is buy-side ER, so anything that makes the process faster the better.
Portfers6thForce is right the majority of ER spots out of school are at BBs, though churn does happen at MM and even BB and provides an opportunity, depending on if they think you're good. You're doing the right thing with the pitches. If you do this correctly it is definitely achievable -- I did it myself. Feel free to PM them to me and I can give feedback.
Did you send them to random analysts or did you have some type of a plan? I usually send them out with job openings but it's usually HR reviewing applications and they probably go by the book and don't know what stock pitches are. Not sure how receptive analysts will be if they are not hiring.
Send it to the DOR or ADOR, they oversee hiring so they know which analyst if any are looking for someone.
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