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Hey Everyone. 

I have an upcoming equity research final round at a top firm. I'm meeting with two managing directors as well as a few portfolio managers. I'm wondering what I should do to prepare. I currently don't know really know much and what to expect in terms of technicals. I am coming from a lib arts background for context. 

Any insight will be much appreciated. 

btw, this is for a summer analyst position (undergrad)

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Comments (4)

Apr 23, 2021 - 7:30pm

There are a few questions that always seem to pop up in equity research interviews. Why equity research, why this firm, why this sector, and pitch me a stock.

Since you are coming from a liberal arts background, I would expect that technical questions would be easier. You should be studying some of the basic technicals (walk me through the three statements, DCF, valuation methods). If you are able to nail those, they will be impressed given your background.

  • Prospect in IB-M&A
Apr 24, 2021 - 9:37pm

Got it! Do you think that they will ask accounting technicals like:

  • Walk through the financial statements when you purchase an asset w/ 50% debt and 50% equity.

  • Walk through a transfer from equity to debt?

  • How would an additional $100 in interest payments on machinery affect the financial statements?

  • Intern in IB-M&A
Apr 24, 2021 - 10:40pm

The first question (walk me through 50% debt/equity) is more for IB so I wouldn't expect it for ER.

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