Finding a Way to Take the Series 86/87 Over the Summer
Hey everyone, I have a quick question.
I'm currently a Junior in college and looking for any edge I can find to break into Equity Research after graduation (I attend a state school). I have recently just passed my SIE exam and am looking to sit for the Series 86/87 to get the "Research Analyst" License to make my profile as a candidate more attractive, on top of my other efforts. My main question is that my summer internship with be at an RA, not a Broker/Dealer, so I wont be able to get these exams done. I think that the optimal timeline for me to finish these exams is the start of senior year, to allow me to either look into the CFA Level I and focus on recruiting for Junior ER Roles. Does anyone have suggestions on how I can find a Broker/Dealer to possibly take me on as an independent contractor over the summer to get my sponsorship for the exams? I'm willing to pay for my exams and even work for free to sweeten up the value proposition. Thanks for any advice in advance.
I would say there's a low shot you get someone to sponsor you to take the 86/87. if you want, take the 63 because some banks require it, although there seems to be a shift to drop it and just have the SIE, 86, and 87. Either way, if its confirmed you only need to take the last two I'd just recommend you enjoy your free time. You won't have much of it once you start full time
Dumb idea. 0 shot anyone sponsors you for this. Having the 86/87 won’t help you recruit for ER anyway. You have to be basically retarded not to pass them so you wouldn’t even impress anyone on the hiring side
Very helpful insight, thanks!
Disagree with others. Getting these exams out the way before the learning curve on coverage is very helpful. From a recruiter standpoint it won’t automatically get you hired but it will alleviate the risks of hiring someone and having them fail. 86 is difficult, especially if you are on a top ranked team with a high workload.
I think it’s worth asking HR and just say you like research and heard it was a good resume builder. Never hurts to ask.
I agree with this. I have seen multiple full-time hires (converted from intern) fail the series exams multiple times, hit the cap on allowed re-tests, and get fired. Unbelievable to me, but it happens. Any team that has had this happen to them would likely view someone who has already passed the tests in a more favorable light.
Y’all must work with some spitfire idiots. But ok sure we can disagree on the level of retardedness that is required to fail Series 86/87. The fact is that OP won’t be able to find any random setup to get sponsored to take the exams. It’s a complete waste of time to even seek out such an endeavor. FINRA regs are quite clear that the exams are only to be sponsored for people who are expected to engage in the research analyst role, which would require a permanent job offer beforehand. Trying to take these before that job is secured is not realistic and you are giving retarded bad advice by suggesting otherwise.
Fair enough. Obviously check regs and don’t listen to someone on the internet.
I think your time would be far better spent networking with potential research analysts to get a foot in the door or writing research reports on an actual company rather than taking those exams.
86/87 aren't that hard and should be done on the job. SIE is fine and shows good initiative, if you really want to study for something study for the CFA L1.
What industry would you want to cover ideally? Pick a company in that industry, follow the other players in industry and understand what makes each one a potentially good/bad fundamental investment, then layer on valuation on top of that to make a recommendation to buy/sell.
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