Analyst Training Programs??

I'm graduating in May 2017 and am looking for buy-side equity analyst firms that have strong training programs. So far I know of BlackRock who has a 2 year program and Wells Fargo who has a 1 year program.

The reason why I am looking for firms with training programs is because I will graduate with limited experience (Possibly member of investment fund at school for 2 semesters, hopefully passed CFA lvl 1, taking it Dec 2016, and personal investing) and I feel it is my best shot to get in the industry. Also the reason why I have limited experience is because I decided about a year ago to go into Buy-side equity research.

Does anyone know of companies with good programs, or do all companies generally have training programs for 1st year analysts?

 

Congrats on receiving and accepting your offer - don't stress too too much about training. I would be shocked if less than 100% of people passed. Based on what I've heard from others, there's just a few exams that you have to take along the way during your training, and if you fail I believe you get at least one retake. This is for IBD but it should be similar...

 

I also just accepted an offer to join a BB Private Bank, maybe the same as the OP. I noticed the successful training requirement as well, but after speaking with a few first year analysts they told me it wasn't hard at all and training was some of the most fun they've had at the company.

 
Best Response

just buy BIWS, since you have time till 2017 it should be enough time for you to learn all of the relevant stuff in it, after that you can make reports, models, etc . it should be enough prep for starting out ... you can additionally read about stock screening http://pg.jrj.com.cn/acc/Res/CN_RES/INVEST/2012/6/11/811812f5-7b74-4f8f…, http://www.finaticsonline.com/Freebies/Stock_Selection_Techniques-Using… http://www.btinvest.com.sg/system/assets/20621/AP%20Strategy%202013%20O…

excel based mutual fund tracking http://freefincal.com/excel-based-mutual-fund-portfolio-tracker-version… http://freefincal.com/automated-mutual-fund-financial-goal-tracker/

excel based portfolio by Vitali Alexeev on youtube

the portfolio and fund options in excel are not too relevant since PMs use software http://www.capterra.com/investment-management-software/ but still it could show some interest/effort on your part to the interviewer

you can also check the links in this link for Sell Side ER but some relevant stuff can be found http://www.wallstreetoasis.com/forums/doing-a-stock-pitch

 

Thanks for the response. I have gave that great consideration, however my only fear is that because my undergrad grades weren't so great I wouldn't be able to get in the top MBA programs around here (namely NYU and Columbia). So my logic was maybe after another 5 years or so of solid work experience I might be able to.

 

you start on "equal" footing but in reality kids who summered get much better deals than you will for your first year. that's how it works at my bank from my experience but not sure if that's true across the st

 
scrubbanker:

you start on "equal" footing but in reality kids who summered get much better deals than you will for your first year. that's how it works at my bank from my experience but not sure if that's true across the st

seems true at my bank too.
 

It matters to an extent, especially for the first 6 months where the star summer analyst will get on better deals, and get more exposure to top MDs, and it's a virtuous cycle. However, I've also seen star summers do poorly once they start and their reputation quickly suffers. Overall, you'll be at a slight disadvantage at the start but it's certainly not insurmountable

 

This most likely varies depending on the shop, but from what I've seen most of the 'training' is on the job. Excel modeling skills (understanding of lookup functions, amort tables, index/match) and basic finance knowledge are almost always prerequisites but you'll learn the real estate based on the department you're in and the product types they cover. Some shops will train analysts in Argus but prior experience is a plus. Each shop will have their own models that they use for various deal types and training/introduction to these files should be provided. You're definitely in a position to inquire about this and it should be important to you. Working for a firm that is invested in your future should be a priority as should be learning as much as you can from the smartest people who will give you a shot.

 

I've honestly never heard of a shop that trains you, from my point of view on the job training is a myth. I have heard of summer analysts getting trained, but never full time. I have not had the most straight forward career path so maybe my insight is incorrect for the majority of folks. I think argus is where you will get some leeway but it can't hurt to say you know argus and then take a 1-week course before you start the job. I don't think someone has NOT hired someone because they were bad at Argus.

 

so for someone like myself that isn't coming from a traditional route (IB, investment internships, etc), and didn't do any formal training, is all the learning essentially on myself?

I'm coming from a valuations background. so i run dcf and dcaps on multifamily properties. i have solid real estate and modeling skills but nothing super complex. I'm trying to figure out what a good next step in my career would be. ideally i would like to get into acquisitions but I'm not sure if a firm ( or what kind of firm) would be willing to train me on the more complex deals and models. would going into a debt analyst role at a bank be a good next step to better set me up for an acquisitions role?

essentially I'm trying to figure out that if my current qualifications aren't good enough to get an acquisitions position or similar position , whats a good career path to set me up to where i can eventually get a job like that.

 

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