WSO-ers,
After years of perusing this site and offering nothing in return, I want to help where many of you have helped me. Most forums have some very solid participants, but equity research rendezvous doesn't have the same active volume. Where I can, I would like to help in this particular forum.
Background: Wharton Finance UG Two years non Finance pursuit BB Equity Research
Looking forward to being a contributing member
How did you make it into the Wharton undergrad program, any advice fro playing the "admissions game" Thanks.
Nice. Made the same decision last week. There are a few thousand of us out there (ER associates) and it's really tough to find good info.
Since you went to Wharton, you could have gotten into a BB's IBD pretty easily with a good gpa and some decent networking. What made you want to go into ER then? Also, what advice would you give a college underclassman (class to take, clubs to join, things to do in general)?
Studiofan, It was a different world when I applied. Applicants didn't have admission coaches crafting essays, and while the prevalence of SAT tutors was emerging, they weren't considered a must have. My best advice, as vague as it may be, is to find something you enjoy that makes you different. Most applicants have Andover, Exeter, etc and volunteer at XYZ. Try to determine where you are different from the rest of the applicant pool, highlight it, and explain why that makes you an asset.
Dank, Agreed.
How about this - can I come work for you for free on nights / weekends?
You're actually a call girl...it all makes sense.
What advice you can offer for ER SA superday candidates? I have one tomorrow at a BB
Hamilton, by the time I wanted to go back into finance I decided I was too old to work IBD analyst type hours. The OCR programs at Wharton get you in front of a lot of banks, but that's all they can do. A bank may have a certain allotment that they aim to fill at each school they visit. Undoubtedly more kids will interview than slots permit. You still have to find ways to separate yourself from rest of that population.
I have 2 SA offers for undergrad, DB GTB & Barcap finance, any general advice as to which one you think could give me better opportunities through division and company in equity research or private equity down the road?
SB for deciding to contribute. Welcome to WSO man.
Given that I am posting here on V-day, I think it's fair to disclose that I am single.
Steelo, I didn't go through the Superday SA process. Are you MBA or UG? Assuming you can talk about financials statements and how they relate, I would concentrate on a stock pitch. Be sure to have a couple ready just in case you run into an analyst who covers the stock you wanted to pitch (never a good idea). Feel free to ask questions about his/her industry as long as they are thoughtful, but no direct pitches. Aside from that, remember that you and your analyst have to spend a lot of time together, so conveying that you are someone that they will get along with is crucial.
Any advice for someone starting as a BB grad (industry unknown) in a few weeks? I.e. most useful skills to brush up on...valuation technique, market events, excel skills, other?
On a more serious note - that's really cool of you. Maybe you can make sens of this for me: I'm 2 years out of college with a liberal arts degree. I had no interest in finance until shortly before graduation, so I spent the first year out interning part time in ER and another in market research while continuing to work full time at my college job. For the last year, I'm in a middle office position trying to get to FO. Is it more efficient at this point to just get an MBA and reset the recruiting ops, or keep hoping I will transfer? There's almost no way I could get into HYP, but I can still get into some good schools. Also, is getting an MBA at night a good idea and then trying to jump over to FO / ER plausible, or just go full time and hope for the best. I've researched everything I'm asking you ad nausea, and I'm curious what YOUR perception / opinion is.
Also: +1 for giving back I'm giving away bananas today
hey I'm going to an ER interview at a BB this friday. any suggestions on how much technical stuff I should know?
Hi Steve, which industry do you cover? Are there any industries that you think should be avoided?
Thanks for offering your help.
I would like to know how important you think accounting skills are. I struggle with the likes of pension accounting -not to mention how boring I think it is-, and I was wondering if this would be detrimental to a career in research. Thanks!
I would avoid consumer/retail type sectors. Generally, the more specialized a sector is, the higher it tends to pay. Pay is likely static at junior/associate roles however. Strong accounting skills are imperative but that doesn't mean you need to be a CPA or even close. Know how the three statements interact and the main valuation techniques. It's expected that you'll learn a lot on the job. The same goes for senior analysts.
I agree with Dank. However, I'll add that many times new hires are unable to pick their industry. Alot of hiring is immediate needs based, so the industry is not often up for debate. If you get "stuck" in an industry you don't want, my advice would be to give it a chance. It will take months before you begin to understand the companies and industries. During that time you will realize most of your pre-conceived notions were false.
UFO, I would suggest really hitting your connections (internal or otherwise) now. Turnover is generally highest this time of here with people either waiting for the bonus check to hit their account or people leaving out of frustration from their bonus check.
Have you taken the GMAT? That would be a good way to spend your free time while trying to transition.
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