Equity Research SA 2021

Hi Monkeys,

After scanning the ER forum, it doesn't seem like a ER SA 2021 recruiting thread has been created yet. Seems like it's beginning to become appropriate.

To my knowledge:

  • RBC ER was either closed or taken down (ended in Feb.) - timeline is TBD
  • Fidelity closes soon (MD said it closes Mar. 24th but it looks like the timeline may be pushed back)
  • CS is open

Please correct me if any of this is wrong.

Thanks

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Comments (62)

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  • Research Analyst in ER
Apr 21, 2020 - 9:04am

I work in ER, in a MM in Asia. We cancelled this year's SA program.

  • Prospect in IB - PubFin
Mar 20, 2020 - 1:29pm

Does anyone have any updates? companies that they have heard back from?

  • Prospect in IB - Gen
Mar 25, 2020 - 10:59am

RBC ER was taken down, but I don't think it is closed, they just don't know what they're doing for recruiting. Last year they hired all their summer associates through diversity, which has obviously been delayed due to corona. The timeline for if/when they hire general kids is TBD.

  • Prospect in IB - Gen
Mar 25, 2020 - 3:25pm

Yeah I mean maybe it closed, but my alumni contact there said their timeline is far from being decided so closing it wouldn't make much sense. I mean, you also don't even really need to apply if your get a refferal at most places.

  • Prospect in IB - PubFin
Mar 25, 2020 - 2:34pm

3.4 GPA might be a deal breaker. To be competitive for NY CS you need 3.7+ but if you can network and get a first round then that might tide the boat in your favor. PWM internship at BB will look good.

  • Intern in Other
Jun 12, 2020 - 8:51am

Why Baird? Why ER? How do you expect to spend your time as an analyst (communication/data/research)?

Apr 2, 2020 - 2:40am

Anyone have a list of all the buyside firms that take undergrads? MF, HF, Credit shops anything really. Not sure interested in sell side ER

Array
  • 1
Apr 8, 2020 - 1:06pm

Not technical heavy from my experience last year, they ask for a stock pitch or two, and then mostly behaviourals. Baird is very heavy on culture

  • Intern in Other
Apr 22, 2020 - 10:17pm

are most applications opening towards the middle to end of summer? It seems like IB gets all the attention here and I would love to have a list of firms that take ER interns as undergrads. I'm sure most of you are in a similar position... just wondering.

Apr 23, 2020 - 1:31pm

I know that CS, RBC and Baird are on the early side but otherwise haven't heard much. I think most BB's start in July, MM's for the most part late summed

Array
  • 1
Most Helpful
  • Intern in ER
Apr 24, 2020 - 11:24pm

Incoming ER Summer Analyst at BB here. As a heads up, you guys have a long wait before hearing any news. Almost all ER departments won't start the recruiting process until the fall. Personally, I had 5 first rounds last year. The earliest was late September, and the latest was late October. If I remember correctly, the only firms that recruit in the Spring for ER are Citi, RBC, and Baird.

Also, I wouldn't be surprised if ER departments start scrapping internships programs. Last year, UBS, DB, BMO, and RBC all didn't recruit undergrads for ER. Wouldn't be shocked if more banks follow suit given the tough economic times. If I was in your guys' position, I'd be hedging my bets and recruiting for one other division too

  • Prospect in IB - Gen
May 4, 2020 - 12:12pm

I talked to someone at RBC recently. They told me last year they hired all 6 interns out of diversity. This year they hired 4 from diversity, and would usually hold recruiting to get 1-2 more, however, bc of COVID they may just stick with a smaller intern class of the 4 already hired

  • Intern in ER
May 4, 2020 - 3:05pm

OP here. Can confirm what the other commenter said. RBC posted the ER summer analyst role online last year but did not end up accepting any new interns (only rehired interns from their sophomore diversity program). That said, I think that is an exception to the rule. If a firm posts internship positions, they are likely going to accept interns. I just expect a lot fewer firms to post ER intern positions this cycle.

May 9, 2020 - 3:29pm

I saw MS opened the S&T and IB apps recently. Does anyone know if this was the case for ER?

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