Hey guys, I've got a final round interview for Equity Research, and was wondering if you guys had any advice for me. My last interview that I did with them was at their offices in New York, where I met with 2 associates and the md analyst. This time is supposed to be with the director of research or md of equity product management. Thanks
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That doesn't sound like a final round. You should list out how many rounds youve had and with whom
What would the final round sound like?
Final round would be more like a fit interview, alone with an MD. HR would frame it as non-technical and they just want to talk/get to know you.
Gotcha. First Round: HR Second Round: MD Third Round: Junior Associate, Senior Associate, Head Analyst (In person interview, 30 min each) Current Round: Director of Research or MD of Equity Product Management (Depending on Availability) (In person interview)
What to do when you know nothing before an equity research Super Day? (Originally Posted: 11/17/2016)
Currently an underclassmen at Penn but to be completely honest I don't know fucking anything about research. I somehow breezed through the phone screen and have a superday next week. The thing is my background thus far is doing bs secretary work at a wealth management firm and I have no clue on what the research people really do/sounds intimidating. I feel like I'll just embarrass myself at the superday.
There should be tons of threads on here about this, but in summary I'd expect to get questions about your finance classes, what's going on in the markets, why you want to be in research, financial ratios, and an investment you like. At least at the place I interned, they didn't do modeling tests or ask any modeling questions for interns.
That's the thing. I'm a history major and just applied because my friends did too. Not really the end of the world since I can go through junior recruiting next year but I feel defeated.
You're an underclassman studying History, they won't grill you that badly. I'd expect mostly fit, and probably a stock pitch. What to do? Easy. Read the papers, go to read WallStreetPlayboy's sector guides that are posted somewhere in this site, and visit valueinvestorsclub.com so that you can get a few ideas for your potential stock pitch.
I'd focus more on the qualitative aspect of the pitch rather than the technicals.
Go read Damodaran's blog this weekend and put together a pitch like suggested. Don't be overwhelmed by all the content, look at one of the simpler valuations he has done.
http://aswathdamodaran.blogspot.com/
Can you share your experience? How was it?
Tips: Super Day for sell side equity research at BB (Originally Posted: 11/30/2014)
I have a equity research super day with one of the BBs this Thursday. Outside of a long and a short, I have heard these interviews (series of 4 interviews) can be largely based on fit. Can anyone speak to what I should expect? Should I not expect technicals as well? Thanks
I would suggest having more than one long idea. The reason for this is that you may be slotted to interview with an analyst that covers the industry that contains your initial long pitch. You would be better off pitching them a stock that they aren't an expert on. Be prepared to show a solid thesis, basic valuation numbers, and catalysts for each as well as some of the most important ratios vs peers (profit margin, roe, D/E, P/E, etc)
You may be asked a few technical questions that you can get the answers from in a WSO or BIWS guide. These would include questions like "Tell me how the financial statements flow together". The big two that you will likely be asked in each interview are: 1) Why XXX firm? 2) Why equity research? Practice these, but don't have them memorized to the point that you sound like a robot. These questions give you the opportunity to display your preparation.
From my experience, equity research superdays are largely fit. They want to make sure you'd be able to fit in with their teams as you'll be working in groups for 12 hours a day and have to be a team player. Fit questions will likely include a lot of "tell me about a time when..." questions that focus on leadership, prior internship/work experience, and problem solving.
In addition, they will test your knowledge and interest in the markets. Have an idea of what's gone on in the markets over the past year, big news or headlines in the past month or so, and where you think the markets are heading.
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