Advice Needed to Get Investment Internships

Water Cooler Careers
#1

Hi Everyone,

I was looking to see if I could get some advice on how to get an investment internship as a university student.

Background: I graduated from a 2 year business program 3.5 years ago that has a transfer program with the university I wanted to attend (non-target for Canada overall, but target in my province). However, before I transferred I was offered a full time position to work in accounting. The position I was offered was the same as what was being offered to students graduating from the unversity I wanted to attend so I took it. Through working I discovered that accounting is not for me and I want to do buy-side equity research. So last fall I transferred to the university program and have been taking night and online classes along with full-time work so I can save up as much money as possible before returning to full-time studies this fall.

My goal when returning back to school was to land an investment internship for this summer and next summer so I have some relevant experience before graduating. However, I haven’t found anything yet for this summer. To show that I’m committed to switching careers and can handle a heavy workload I still work full time, am currently studying for CFA Level 2, taking one university course and am involved in the school’s investment groups. All of the summer investment jobs that have been posted on our career board say they want someone who is interested in finance and PLANS on enrolling in the CFA program. So far I haven’t even been able to get an interview for any summer jobs. I know a couple of the people who got them so far and they have only taken a couple of finance courses and are not even enrolled in the CFA program. The career advisor at my school reviewed my resume and says it doesn’t make sense why I’m not getting interviews. I’m maxed out with my workload and feel like there is nothing else I can work on at this point to improve my chances of landing an internship. So my questions now are:

  1. Do I have too much experience now and this is hurting me? If so, how can I make it look like I have less? I thought accounting background would help for understanding financials

  2. Should I just take CFA Level 2 Candidate off my resume?

  3. If I don’t get an internship - what can I work on this summer in my spare time that would give me some tangible skills to get an internship for next summer? Do a full analysis on a company or something? Start my own portfolio?

Thanks in advance for any advice!

#2

For buy side jobs and internships, the stock pitch is a key part of the interview. You may want to write up a 1-2 page pitch summary and include it with your cover letter to show your interest and skill for research. most candidates won’t submit one so a well written pitch summary (with a model summary) should help you stand out

#3

For buy side jobs and internships, the stock pitch is a key part of the interview. You may want to write up a 1-2 page pitch summary and include it with your cover letter to show your interest and skill for research. most candidates won’t submit one so a well written pitch summary (with a model summary) should help you stand out

#4

I would state CFA level 2 candidate in resume. Let everyone see you know stuff…

#5

Don’t rely on the school job board. It gets saturated by applicants, and your resume will get lost, since the same 10 guys get called by everyone. It is frustrating and confusing that you got not call backs, but this actually happens to many people.

You should go on LinkedIn and ask to talk to various people in the industry. If you send a message to 60 people, maybe 40 will agree to have a 10 minute conversation with you about their work. Out of 40, maybe 10 will be hiring interns or entry level people in their company in their yearly cycle. So you just found 10 jobs that might not be posted on your job board.