If some of the more experienced members here could share their advice with me I would greatly appreciate it.
Over the past 12 months I have interviewed with some of the big names in the UK in Asset Management for graduate/entry level Investment Analyst positions. Many of them have been final round assessment centres or interviews. The companies and positions were:
RBS Pension Investments (basically the pension fund for all UK RBS employees) - Fund Manager’s Assistant
Aberdeen Asset Management - Internship
Standard Life Investments - Fixed Income Graduate
Franklin Templeton - Junior Equities Analyst
Alliance Trust - Graduate Programme
Unfortunatley, none of these worked out.
More information about my previous experience:
I graduated in 2011 with a First-class Business Studies degree from the University of Strathclyde. During my time at university I was able to get some work experience one summer with an independent financial advisor, who happened to be visited at the time by a marketing guy at an asset management firm - suggesting that he link his SIPP products to their funds. It was during this meeting (that I had the pleasure of sitting in on) that I discovered that I wanted a career in investment research. Basically the guy gave an overview of what the firm did and how they conducted their research.
After graduating university I came out with no job and no relevant exeperience to pursue the career I wanted. Through countless hours of networking I managed to gain two different internships with a couple of Emerging Market fund managers based in London. One was a Sales and Marketing internship where I spent a lot of time doing complaince stuff for them (KYC and AML check ups essentally) and the other was within the Investments department of a very small fund manager.
During the Investments Internship I had the opportunity to go along with the CIO and his assistant analyst to several analyst meetings, study their valuation models, and conduct some basic intial research for them on several banks in the Africa region (looking at broker reports and some basic valuation multiples). I loved every moment of this and it further vindicated my decision to pursue a career in investment research.
Since those internships I have started getting more interviews (those that I had mentioned earlier), but unfortunatley I have not been successful.
I am now working remotely from home for a small investment firm based in London doing some cash flow projections for them in Excel on investment plans that are in development by the firm and helping out with the marketing materials (because the guys they have in marketing aren’t very clued up yet when it comes to investment terminology and products). While doing this I have started studying towards the CFA charter and passed Level 1 in June, I am also currently doing a financial and valuation modelling course and run my own portfolio of stocks.
I have been stuck in my current position for almost a year now and I’m desperatley trying to get out and acheive my goal of becoming an equities analyst, but the job market is incredibly tough right now and everyone wants someone with experience.
I am currently down to the final 6 for a position with a discretionary fund manager, but it’s more of a client facing role - although I would be in charge of asset allocation after a while once I pass the relevant private client industry exams (CISI). I hope I get this because I am fed up of my current job but it’s still not where I really want to be.
Any advice from the veterans on the forum on the above would be greatly appreciated.