Getting into Wall Street

Discussion in 'Professional Trading' started by anoninnyc, May 30, 2013.

  1. abjrsf

    abjrsf

    I've spent a lot of time with portfolio managers and analysts on the top tier of the fundamental (you mentioned not quant) "buy side". Here's my 2 cents:

    - MBA for sure with an eye on the CFA as soon as practical - fundamental analysts need to intrinsically understand businesses and industries...and an MBA is better prep for that.

    - Get involved in the student investment fund/club if available - being able to demonstrate doing fundamental research in a team setting can be a big plus with top funds who work that way

    - Put together your own "buy list" and get to know those companies...COLD! Read every SEC filing...research report...everything! Then, write your thesis out as you would if you were going to present the idea to a portfolio manager...keep refining this process. If you get to an interview, many will ask you for an "idea" - have a few good ones ready that you can impress with. Check out Sum Zero for great examples of how a fund analyst (as opposed to an investment bank's analyst) presents a trade idea.

    - If you have some industry that you have a higher level of comfort and experience with (from your consulting or maybe just your interests), then run with that on some level and become a bit of an expert about the publicly traded companies in that sector. Many analysts/traders at these firms specialize. You need to be a generalist going into this mostly...but having more depth in particular industry might come up and could be a benefit.

    - There has been a lot of talk about "sell side" positions with investment banks but I would encourage you to focus on asset managers...with an entry level title of research associate or analyst. I would also keep my MBA intern outreach focused on the "buy side" as well. There are hundreds of asset managers of note...there are only a handful of banks...and you ultimately want to end up at a fund...so roll up your sleeves and do the extra work it will take to reach out to that many firms.

    Good luck!
     
    #51     Jun 22, 2013