Thoughts on Evercore's New Apprenticeship Programme?
Hi all,
Wanted to ask for thoughts on this new Apprenticeship I've seen being offered by Evercore.
I wanted to know a little about what you expect the internal mobility as an apprentice once finished (if you can make an educated guess), what the role really entails (seems a mix of equity/macro research?).
My goal is to get into a front-office role. Though, I wanted to know if this could be a good step to get a "foot in the door" or if I should just go traditional uni route -> summer intern -> convert.
Here's the job description:
"... This role will involve supporting our analysts and senior bankers across EMEA in fulfilling these client mandates by providing timely and accurate information using a wide variety of key industry platforms. Apprentices will receive training on many of the benchmark resources common to investment banking such as Bloomberg, Factset, Workspace IB, Factiva, S&P GMI, as well as a large number of sector specific platforms After initial training period in our London office, hybrid working will be available.
A typical day
- Delivering high quality and accurate research on companies, markets and other areas of interest
- Providing concise and compelling research, succinctly drawing out and articulating key messages
- Managing the workflow of the helpdesk including dealing with and replying to enquiries in an efficient and timely manner, scheduling the work, negotiating deadlines and managing expectations
- Helping update and manage internal knowledge systems
- Assisting with projects in evaluation and management of market data, data calibration and operational process automation
- Supporting other research duties as required
You must have:
- Enquiring and analytical, with the ability to process facts quickly and effectively.
- Ability to use multiple platforms, media, data sources.
- Ability to operate in an environment with continuously changing priorities, and finalise work quickly and accurately.
- Strong interpersonal and communication skills.
- Highly literate with excellent writing skills."
TIA!
If the apprenticeship program isn't a degree apprenticeship, you're probably not getting into front office. Pretty much as simple as that.
You need a degree for front office roles. Even if by absolute miracle they do give you a front office role, not having a degree will severely impair where you can go from there.
IB and equity/macro research are (almost) completely separate, by regulation. So I don't think it's equity or macro research. Sounds more like you're helping write investor prospectus stuff. But idk. Also evercore only has a small ER business in Europe (if any at all, never come across anyone there).
Not sure where you're finding this apprenticeship so can't check for myself but yeah.
Do you really need a degree? Because I was thinking for Big 4 apprenticeships, surely you could just get ACA qualified and make the move to IB from there - or does this just apply to those coming out of university into big 4 roles?
I don't know what it actually is, whether it's a degree or what, but it's 3.5 years (42mth) duration.
ACA isn't a degree, it's an accounting charter. Another qualification.
While I've heard of moving from non-degree apprenticeship -> ACA -> IB (LMM/MM and definitely not BB/EB), I've never actually seen this done and I've looked, but I will concede it's a hard thing to look for given 1. Limited cohorts of apprentices 2. You're looking for a "negative".
bump, also curious as to thoughts on this
This doesn't sound like front-office, more like a support role. Making a move from there to front office is almost certainly going to difficult to nigh-on impossible. The only potential pipe-line to IB, without Uni, is a Big 4 Audit / Transaction Services / RX apprenticeship, then lateraling when ACA qualified. It's not an easy or a short path, but it's well-trodden (at least at the Grad level) especially for MM/LMM IB/ PE. I'm doing something similar (at a non-Big 4 firm), but don't plan to end up in IB.
Doing the traditional Uni route, unless you love accountancy, is probably the better option.
Can I PM you about your experience.
I would really appreciate it!
Sure
Interesting - thanks for your take, it really cleared things up. Could you tell us about your plan, I'm quite interested to learn about what you want to do and not end up in IB - assuming PE?
Del
Hello, interesting topic of discussion. I'm also looking to gain some insight on this if anyone is happy to provide. im currently in my last year of high school in scotland with an aim of getting into IB/PE as a long term goal (ideally the earlier the better of course). I have unconditionals for Edinburgh and St. Andrews for Economics and waiting on a decision from LSE and Cambridge. These past few weeks I've been considering the degree apprenticeship route as it will save me considerable debt and give me work experience. I'm interested in finding out whether I should take the Audit ACA apprenticeship route at B4 (whilst staying at home) and do an MBA after (if this is even possible considering I won't have a bachelors?) I've been getting more and more unsure about the Edinburgh / St. Andrews route as there is, statistically always a chance I can simply not get a FO role like IB straight out of uni due to intensive competition nowadays and unluckiness. this is all seeming a bit of a blur to me and I would be delighted to get insight from anyone possible on what route is the healthiest and more surefire. I've even looked at software dev degree apprencticeship -> MBA -> Associate which is a testament to how all over the place my mind is currently.
hey how's things, i was the original poster of the thread. i'd definitely say based on what you've done at pre-uni level, do not go down an apprenticeship in swe (or any other field you dont like) just to get an apprenticeship then pivot out of it as it will be a drag. university gives you time to think things through and experience things without a full commitment either, which is the best part in my opinion.
afaik, you can't do an mba after the ACA qualification - but some ib have been take on ACA qualified accountants, search "aca grad scheme (X Bank here)".
Hello, thank you for your quick and concise response. As far as your point on how universities provide the opportunity to really and truly think about career prospects, I completely agree. The thing is, I 100% am sure I want to break into investment banking (at least in the beginning, I ultimately want to work in VC/PE/HF), so I feel that university may not be the most productive of routes as a lot of my friends didn't manage to get SA roles from target universities which is a bit demotivating as these people done everything under the sun and still got rejected. would you even consider b4 apprenticeships in my scenario? what would be your game plan/ what is your current game plan if you are happy to share.
Thanks
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