viktorv Wrote: ------------------------------------------------------- > i am actually facing almost the same thing, for > me its a little bit differen though: > > an internship for summer 08 as an equity research > associate + I want to complete LII successfully, I > am also an MBA student > > i am worried that the hours will kill my LII pass Lets get this straight; You are taking the LII to help position you or a better job (assumption on my behalf), but you don’t know if you should take the internship because it will impede your ability to pass LII? If you are lacking a summer internship between your first and second years of the MBA, finding a full time spot will likely become significantly harder.
I agree with FI analyst. you guys are stupid. get your priorities straight and really think of what matters. blunt, but necessary.
True, we take the CFA to get better jobs. But you do have to keep up with the job market. If i saw growth in the U.S economy, i would just call them today and accept it. But what i’m seeing is bad days ahead of us and i’m not sure if these sell-side research jobs are going to last forever. As it is we’re seeing these jobs being outsourced…and with the hard landing of the economy, this process will be even faster. viktrov: If the intern is in Summer 08, whats the problem? The exam is in June, and u start studying in Jan08. Besides, in your situation, i think the internship is more important to land the job after you complete your MBA.
aspiring-analyst Wrote: ------------------------------------------------------- > > viktrov: If the intern is in Summer 08, whats the > problem? The exam is in June, and u start studying > in Jan08. Besides, in your situation, i think the > internship is more important to land the job after > you complete your MBA. yeah the internship is definitely an asset when it comes to getting a full time job, the problem is that it might impede my ability to pass because the internship starts in april. thanx for the input skank theres no need to call us stupid
Hi aspiring-analyst, did you find the job directly in the company’s website or a headhunter actually helped you? cart
cart10: found the job on company’s website. Headhunters haven’t helped much. They do find you jobs…but probably something you aren’t interested in or something relevant with what you are already doing. I guess Headhunters are good if you have “relevant” experience and would just like the lateral move…not to break into something new.
aspiring-analyst Wrote: ------------------------------------------------------- > numi Wrote: > -------------------------------------------------- > ----- > > that’s reasonable. what’s better is that we > still have our research jobs (for the time being) > -------------------------------------------------- > > > That’s exactly my other fear. And i’m truly > convinced there will be good amount of layoff > within the financial sector. Not only will the > fixed income guys get hit (not that they aren’t > already), but so will the equity folks :-/. Right > now i have somewhat security, but if i take up > this new offer, i may lose it down the road. > > Alayle: its not an Associate position (i wish). > Its a jr position supporting them all. > > Besides, if i take this i wont be able to complete > L3 in the near future. Got to think this thru over > the weekend. (Who thought it would be this tough > when you actually do get an offer…wow). stop talking yourself out of this. Take the opp.
aspiring-analyst, I’ve read this post very carefully and I think I can be of some help. I work in NYC at a mid-level IB in sell-side equity research as a Research Assistant (or Junior Analyst as your firm calls it). My job, like you described above, is a “junior position supporting all of the analysts in the department.” It sounds like you’re a couple years out of college (I graduated in 2004) and have similar work experience. I completed Level 3 in 2006 and am waiting to satisfy the work experience requirements. All of the posters above make great points. You and I are really not in a position to be very picky in our job search, especially when the goal at this stage of the game is to get relevant work experience. Studying for the CFA should supplement your job; they are not mutually exclusive. As for the position, it has its advantages and disadvantages. The major advantage is that you’re exposed to (notice I didn’t say “work with”) Analysts and Associates on a daily basis. You will learn some new things through osmosis alone, which will help somewhat in your studying. The disadvantage is that the advantages end there. When they say your job is to “support the Analysts” it means that you’ll be doing the jobs that neither they, nor their Associates, want to do. This means your day will consist of making photo copies, doing expense reports, booking flights/hotels/dinners, stocking the refridgerator, picking up lunch, updating email distribution lists, sorting mail, answering phones, and doing channel checks. You will be pulled in a million different directions all the time and there will always be someone complaining that you’re not doing enough for them. (As an IB Analyst you’d be doing similar tasks for more hours and more pay and for just one Associate and one VP). It is a thankless job and the gap between Assistant and Associate seems huge. Some Analysts will try to give you interesting work, most will not. If they let you do overtime (I’m not allowed) you might be able to pick an interesting project. Plus, I report directly to our secretary. The fact is, I feel more like an intern than a professional, which is especially frustrating since I’m (hopefully) two months from being chartered and feel like I took a step back in my career. However, you are in Research and can state that on your resume, which will help your exit opportunities should you decide to leave. My advice: Ask a ton of questions during the interview process. DO NOT RUSH INTO THIS. Ask what your job function is, who you report to, what kind of developement they can give you. Remember, all they need is a gopher and they will heavily exagerate your responsibilies to lure you in (just like most entry level jobs). Just be cautious and do your research and you’ll be fine.
rady27 gives some good advice and i’ll definitely re-visit his post at a later time just for my own curiosity. rady27, you have some good perspectives especally as a junior guy and i hope you’ll post here more often.
rady27, working for a canadian firm?
No, I don’t work for a canadian firm Alayle, but why do you ask?
Because I also work as a Research Assistant and thought we were the only firm with that kind of position
Edit: I just re-read your whole post and your assistant position seems to be more office-oriented work than I do. I sure do update mailing lists, but I’ve been asked to update actual models / create worksheets here after only 2 months. I guess the title is relative to each firm.
They are bukkaking all over you my friend. Back office work is better than stocking up the fridge and making appointment for these wankers . My question for you is: what are you still doing at this place after having passed l3 ? oh and what are they paying if you don’t mind me asking ? rady27 Wrote: ------------------------------------------------------- > aspiring-analyst, > > I’ve read this post very carefully and I think I > can be of some help. I work in NYC at a mid-level > IB in sell-side equity research as a Research > Assistant (or Junior Analyst as your firm calls > it). My job, like you described above, is a > “junior position supporting all of the analysts in > the department.” It sounds like you’re a couple > years out of college (I graduated in 2004) and > have similar work experience. I completed Level 3 > in 2006 and am waiting to satisfy the work > experience requirements. > > All of the posters above make great points. You > and I are really not in a position to be very > picky in our job search, especially when the goal > at this stage of the game is to get relevant work > experience. Studying for the CFA should > supplement your job; they are not mutually > exclusive. > > As for the position, it has its advantages and > disadvantages. The major advantage is that you’re > exposed to (notice I didn’t say “work with”) > Analysts and Associates on a daily basis. You > will learn some new things through osmosis alone, > which will help somewhat in your studying. The > disadvantage is that the advantages end there. > > When they say your job is to “support the > Analysts” it means that you’ll be doing the jobs > that neither they, nor their Associates, want to > do. This means your day will consist of making > photo copies, doing expense reports, booking > flights/hotels/dinners, stocking the > refridgerator, picking up lunch, updating email > distribution lists, sorting mail, answering > phones, and doing channel checks. You will be > pulled in a million different directions all the > time and there will always be someone complaining > that you’re not doing enough for them. (As an IB > Analyst you’d be doing similar tasks for more > hours and more pay and for just one Associate and > one VP). It is a thankless job and the gap > between Assistant and Associate seems huge. > > Some Analysts will try to give you interesting > work, most will not. If they let you do overtime > (I’m not allowed) you might be able to pick an > interesting project. Plus, I report directly to > our secretary. > > The fact is, I feel more like an intern than a > professional, which is especially frustrating > since I’m (hopefully) two months from being > chartered and feel like I took a step back in my > career. However, you are in Research and can > state that on your resume, which will help your > exit opportunities should you decide to leave. > > My advice: Ask a ton of questions during the > interview process. DO NOT RUSH INTO THIS. Ask > what your job function is, who you report to, what > kind of developement they can give you. Remember, > all they need is a gopher and they will heavily > exagerate your responsibilies to lure you in (just > like most entry level jobs). Just be cautious and > do your research and you’ll be fine.
rady27, come to think of it, I didn’t spend time reviewing your qualifications. After having a closer look, I agree with MC Mario. Your role sounds a lot more like that of an administrative assistant rather than a research assistant. It’s true that RA’s have to do some administrative tasks, like entering data into spreadsheets, updating email lists and things of that nature. As associates, we have to do that sometimes as well. But in most cases, these folks are involved in some capacity with the data analysis, modeling, research report writing (or factfinding at a minimum)…if you find that the majority of your time is spent doing menial tasks, I think it might be time for you to test the market and see what someone with your skill set is really worth.
@ rady27 “When they say your job is to “support the Analysts” it means that you’ll be doing the jobs that neither they, nor their Associates, want to do.” – Agreed. From the interview, it seemed like i was going to be gathering a lot of data; reading materials & summarizing them (probably journals, surveys associates don’t like to go over), updating models (which probably is a tedious process). I didn’t get the impression that they would be giving me adminstrative work “making photo copies, doing expense reports …”. But, someone has to do the grunt work and i guess its the juniors. “If they let you do overtime (I’m not allowed) you might be able to pick an interesting project.” – I think they expect me to live there. When i asked their hours, they weren’t specific but said it was hectic and that they expect me to be there. And they also said i won’t have time to study for my CFA. Atleast they were honest. Overall, great post rady27. Thanks for the insight. I’ll definetly load up more questions to understand the position better (thats if i land another interview).
Hi aspiring-analyst again, could please give me an insight as to what to expect during the interview (s)? am trying to break into ER and am putting together a qbank to be prepared for interviews (if any…). I would appreciate your feedback. cart
Numi, Thanks for the encouragement, I really appreciate it. I think I’ll it stick out for now, at least until I get my Charter. I can’t see myself as just a Research Assistant with a CFA (I also have the Series 7, 6, and 63). Until then, I think I’ll start taking some NYSAA classes and work on some models I’ve been building. I’ve also been studying for the LSAT and GMAT and plan on taking those test in the Spring. Maybe grad school is closer than I thought. aspiring-analyst, Good luck with everything. Let us know what happens.
After much thought, i decided to let this opportunity go. I’ll concentrate on finishing up my CFA and building my network. Then start looking aggressively starting June. Who know’s, i might find something on the buy-side. @ cart10: are you a candidate? if so what level? whatever the level…make sure you revise it before you walk into that door. They hit me hard with all the FCFF/FCFE, Residual Value and various valutions processes. Then ofcourse you need to know your basics such as the B/S, I/S, CF/S and how they relate. What each multiple means and why would you use them etc etc. And ofcourse, just prep on the “Fit” questions. You’ll find plenty of those if you google around.
I can see you’ve made your deicision and I hope if works out well for you. As a general comment though, in this industry work experience is much, much more valuable than the CFA charter. The charter is a nice compliment to your resume and may help you get an interview or climb the ladder, but nothing beats actual experience.