Equity Research Intern Review

The first two weeks were training on the company and technical skills. Over the next 8 weeks we were given a new company to assess every two weeks. We learned how to model and value these companies and pitched them at the end of every two weeks. We also had meetings with people from various areas of the companies set up by HR and meetings set up by ourselves to learn about the companies that we were researching.

I learned how to build a model for a company as well as different valuation techniques. I also developed my presentation and excel skills during this time. Additionally, we had access to Bloomberg so I learned the basics of how to use this as well.

While we were not directly creating output for the company during the internship, I felt that the work we did was valued. We were able to work on our projects on a schedule that worked for us and were always encouraged to ask questions and reach out to colleagues to gain deeper insight into the companies we were researching. This is the type of work that we would be doing in the graduate program so it was great to get a sense of that.

We started with a week of learning about Fidelity and then a week of technical training on accounting and modeling. After that, in terms of technical knowledge, we were always able to ask anyone about something we were confused about and they would help us directly or set up a meeting with all of the equity interns. Everyone was always very willing to help. We also had meetings with people from other parts of the business to learn about what they were doing.

I felt that everyone was very friendly and that we were given a good amount of individual responsibility. We could come in to and leave the office whenever we wanted to, what mattered was getting the work done. Everyone was also always willing to help or just have a chat. There were rooftop bbqs on Fridays which were a nice way to get to know the team and the interns from other teams. There was also the occasional drinks after work.

Overall I really enjoyed it. There is definitely a steep learning curve in terms of technical skills but it is great to feel that I have learned something. I also appreciated the flexibility in terms of work hours. Everyone that I met was friendly and willing to help as well.

Yes

Make sure to really think about what aspects of the internship make it attractive to you and how your personality and experiences complement it. Try to reach out to current employees to find out what they enjoy about the job to really get a sense of this.