Research Associate Phone Interview

Bodhis:

Do you know if it is with the analyst or an HR rep? If its an HR rep, it will be a pretty basic screening.

I've had a few different kinds of ER phone interviews in the past. I would be prepared to explain the different public company multiples (P/E, P/S, EV/EBITDA, EV/Sales, Price/Book, Price/Cash Flow etc...) and DCF.

In addition to the Why XYZ firm question, strengths/weaknesses and the other usual questions, definitely have a stock pitch or two ready and be ready to take a macro view. Make sure you know the basics about the companies that compete w/ the company you are pitching like their margins and such. They might press you a bit to try to catch you. You might get a few brain teasers, but you never know. In most cases I think phone interviews are more of a "fit" thing. They want to know if you are a normal person with some industry and/or finance knowledge who is interested in ER.

Also, try not to pitch a stock in the analyst's coverage, but definitely familiarize yourself with the coverage. Be ready to ask some questions about the sector companies under coverage. If you know what sector you'll be covering, it shouldn't be too hard to pull up the firm's actual stock coverage.

If you get the analyst on the line, be clear that you understand both of your roles. The analyst must know his/her companies better than anyone else on the street. He/She must facilitate making their clients money through their models, notes, stock calls, marketing trips etc, and YOUR job as the associate is to make all of this easier for the analyst. You'll be doing all of the writing and modeling, and you must pick up the analyst's vocab and writing style. They really need to know that you are going to be a good proxy. Good luck!

Thanks and heres a silver banana. The call is with HR and I am an undergrad so unsure what they expect me to know, but this info will def help.

sk8247365:

might be "out of date" but it hasnt changed. Know DCF, pitch a stock, why research, etc. I was told an HR call and ended up talking to the director of research.

Thanks for the heads up. I didn't know DCF was big in ER but I'll take time to review it.

Sk8- were you coming from undergrad when you did the interview?

Crabbs - PM'd you the name of the firm.

bulgebanker:

dcf isnt used a lot in ER but they will still ask you questions on it to see if you know it. id be more concerned with why you want to be in ER, basic valuation multiples, stock pitch and industry knowledge. ive done a bunch of phone interviews - what firm is it? and do you know if you are meeting with HR or an analyst

It's with HR, I PM'd you the firm.