Oppenheimer for Equity Research.
I completely sold on equity research, it's more for me. I recently completed and Internship at EY in the SaT department, which is fairly similar to investment banking and I'm not interested in doing it as a full-time job. I've been looking around and not a lot of people spoke about Oppenheimer as an investment bank.
What do you guys think about Oppenheimer? Are they good? What's the hiring process like, is it technical? What type of candidates do they look for? Is it like GS where you need to come from HBS and have a 4.0?
Thanks in advance.
As opposed to banking, the quality and prestige of ER is less dependent on the firm and more dependent on the analyst in question.
For instance, an ER analyst at Cowen, which is a LMM IB, could be 100% considered better (and clear more money) than Goldman's top ER analyst.
If you think about it, there is no deal flow in ER, which means no prestige associated with larger deals. At the end of the day, everyone is covering the same stocks and selling their research to the same buyside. And if you work for a smaller firm and don't want to be analyst #39 covering Apple, we'll then great, you can pick up coverage on a smaller cap company that only has 4 analysts covering it and add incrementally more value.
So yes, Oppenheimer is on the map.
I recently went through their process. First step was a video interview with analyst and the more senior associate. Mix of technical and behavioral. The next step was a modeling and writing test, which was somewhat challenging. After that, you speak to a variety of other members in the broader department to get a feel for cultural fit.
The people I spoke with made it seem like research was the company's primary focus and flagship product. It definitely seems like research would punch above it's weight compared to its IB deal flow and "rankings". Oppenheimer is definitely recognized within the research community, but someone else can definitely speak to the quality and reputation better than I can.Hope this helps!
Did you get the job?
I did, but did not end up there.
I have the modeling and writing test Friday, been prepping since Monday. Any advice or any tips you can offer for that part of the process? Also, were the final few interviews focused on technicals at all, or mostly behavioral, etc.
Thanks in advance.
What types of questions were you asked in the different stages of interviews?
Always hated when Oppenheimer asks for 3 references with phone numbers, emails, addresses when initially applying on their website
Will never apply to these types of jobs that ask for reference details in the application. As far as I remember, federal government job applications require that. Others, hell no.
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