You have already asked some variation of this question multiple times on other articles. The MBA does not help that much with equity research because recruiting is less structured, and the CFA may provide a marginal boost but more so for career changers. Your time is best spent on networking aggressively and coming up with very good stock pitches / sample reports and analyses.

Thanks. I think you will have to network with people in ER groups to pass these screens. Otherwise they’re just going to rule you out based on work experience. The CFA will not help because the automated screens are still based on your experience.

Really great article. I work in the mailroom at one of the largest investment banks. Throughout lockdown i have been doing my own study around finance and what really appeals to me is ER.

I have applied for a few roles internally through the bank including entry level positions however I don’t seem to get passed the vetting process as my experience is Mailroom and not finance related. I have completed many online courses that i pass with flying colours. Do you have any tips for me on how to get pass the vetting process – is the next step doing my CFA Level 1 to show i do have knowledge? (as the online courses im doing are not recognized.

In saying this, I have an interview next week for a Research role within the bank. If you were in my position how do you go about it? Very broad question i know but i just feel as though the interviewers see mailroom on my CV and no 5 year finance or accounting degree and have no time. How can i stand out and show i have a lot of passion for the industry.

Thank you so much for your time, really appreciate it.

Steve

Thanks. Many people don’t take accounts managed for friends/family seriously, so I would not emphasize that too much; maybe just list some of your analysis and recommendations as examples of the work you’ve done but don’t say that you were “managing a portfolio for friends.” Don’t even list the dollar amount. Just act as if they were companies you followed and invested in based on your analysis, and include them to show that you have more of a finance background.

Awesome article. Really appreciate your insights! I did not come from a finance degree background (but I am currently studying for CFA level 1 as advised).

I manage a 6-figure long only (equities and ETFs) portfolio on behalf of my close friends and had made recommendations to them before selling/buying.

May I ask how I should include this in my CV for a ER internship application? Should I mention it in detail re: some of the financial modelling I did and the sectors I follow even if it’s not ‘official’? Will I risk sounding pretentious? Like some Garage Band Hedge Fund?

Sorry, don’t know enough about them to say. Interviews are probably quite similar, but careers are likely to differ because they’re not affected by factors like MiFID II.

I don’t know, I think you have a pretty good background for equity research recruiting, and I’m surprised you didn’t get an offer out of undergrad (was it just your school’s reputation or something else?). You could just stay in your current role, network with research professionals via LinkedIn and email, and send your stock pitches and other work to them. Maybe focus on Energy or financial services so you’re applying to roles that relate to your past experience in some way. I don’t really think it would be worthwhile to get a “steppingstone role” here before ER because you already have club/work experience related to ER.

Got you! Thank you very much for all the suggestions!