What should l do to have practical experience for a research analyst role while studying?
Dear friends, I am currently studying the Foundations of Investments, the CFA program and after that l want to study the CFA Level 1. My dream and career aspirations have always been to start an investment bank that will invest heavily in my society. To prepare for that have decided to study the CFA. So please help me out by pointing out the right direction so that l can learn and have experience. Would appreciate the assistance given. #finance #education
4 answers
TLAUREN’s Answer
Michael’s Answer
Kellee Scott
Kellee’s Answer
You weren't clear as to whether you have finished college or are in the process of finishing, so I'll try to present as many options as I can.
1. If you are still a college student, seek internship opportunities in finance roles. Even corporate finance exposure will help you understand the road to investment banking. If your college has a career center, connect with them to find opportunities
2. If you are already working, seek finance related projects at your company, even if it stretches your work day. I've found that Investment Banking MBA candidates are driven, take initiative, and are willingness to work long hours early in the learning curve for a big pay-off in knowledge and experience. The Investment banking culture is very competitive, but loosening in some ways a more diverse players enter the market.
3. Consider exploring entrepreneurship classes and connecting with entrepreneurs to learn what it takes to start a business. Bonus if there is a focus on banking/investing banking.
4. If you're not shy connecting with people, try reaching out to alumni in your college network who might be in the investment banking field. If your school has alumni events, go to them and network, network, network! If needed, get coaching on how to approach people, be engaging, and tell your story/goals with focus and purpose.
5. Finally, if you are really passionate about this, find a way to connect and shadow someone in the business if your schedule allows.
6. If you find someone who takes interest in helping you and are solid in the industry, don't be shy about asking them to be a mentor for you. Having a mentor who imparts wisdom and advice, as well as supports you in your journey has a value that money can't buy. It's golden to be able to have strong mentorship.
I hope you find this information useful. :-)
Kellee recommends the following next steps:
Andrea’s Answer
1. Read as much as you can, on topics related to the sector you will be working in as well as broader subject matter. Books, journals, magazines, newspapers, and blogs are all great resources. There are also some excellent podcasts out there.
2. Create a “paper portfolio” by picking a stock to track and analyze over a period of time. As you follow the stock, you will learn about trends in the broader sector and can experiment by trial and error. You can also seek input from peers and mentors.
3. Ask a teacher or professor for advice. They can suggest people to talk to who are in the field you will be entering.
4. Find opportunities to shadow someone already working as a research analyst. Ask them what they did to prepare for the role and what kind of background experience is useful.
5. Build your critical thinking skills.