Equity Sales Interview Coming Up
Hi everyone,
At the end of next week I'm interviewing for a Equity Sales job for a top tier investment bank in Europe (not BB though). I am desperately looking for any advice to be fully prepared when the interview comes around. I am a non-target with an average GPA so chances like this does not come around very often. I am thankful for any advice.
Specific Questions I already have:
1) Is it enough to prepare 3 stock pitches? (2 buy and 1 sell). How technical should I get?
2) Is it acceptable to pitch a unlisted stock (perhaps to stand out)?
3) How long should the stock pitches be? I've heard 60-90 seconds each.
4) My answer on "Why Equity Sales" is love for the financial market, entrepreneurial environment, relationship management, the harder you work in sales, the more you sell, high communication field. Anything I should add?
Hey, I can share some tips:
The more the better obviously, but always make sure that you have 1 VERY detailed stock pitch (as in knowing the company inside out- from industry, competitors, catalysts, risks, etc). You should also think about how the current macro environment affects your stock (e.g. If it's a financial company, how will the rising interest rate environment affect your stock?). I feel that 3 is more than enough.
Wouldn't recommend this- unlisted stocks do not have transparent financial data and are illiquid.
60-90 seconds is the sweet spot. Do NOT go longer than this- they will get bored.
In my interviewing experience, I feel that all your reasons are very valid. Although, it may be better to focus on two reasons, backed with very strong evidences (e.g. if you love the financial market, what have you done to show it? Perhaps you started investing by yourself? Or started an investment club in university?)
Good luck with your interview!
Biggest of thanks!
1 - 3 sounds fine?
2 - No but if you want to spice it up, maybe pick a foreign one? Especially if you speak a language or have a background with some connection to another place.
3 - Yeah 60-90s sounds fine. But see note below.
4 - Again, fine; these sound like the actual reasons
Note - EQ sales is super super salesy. Think about it: why would I buy a stock from you? There are like 13 exchanges in the US alone, plus dark pools and various other platforms/matching engines/etc. A stock is a stock. Your share of IBM is no different than Goldman's or MS. People buy stocks from particular other people mostly because they like them; they went to the same college or like the same sports team or take them out to drinks and manage to not annoy/creep them out. EQ Salespeople are mostly attractive former college athletes (of both genders) with good hair and an extroverted, agreeable personality that is not particularly sensitive to lots of rejection or disinterest (clients aren't always nice!).
So, stock pitches are great and all, but more important than the substance of the pitch (you're not in the research department!) is that you can persuade and that you try to read your interviewer's level of interest and engagement and respond accordingly. Don't just blather at them about AAPL for 90 seconds; hit them with the name, your view, your top two reasons, and gauge their reaction. Pepper them lightly with little questions to keep them engaged. But I bet you're concerned about their most recent quarter -- right? etc. Remember, telling me to buy XYZ stock is not really your job. Your job is to get me to buy that stock from YOU, when I could easily buy it from anyone else.
Good luck!
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