Tips for Becoming an Investment Analyst
ฝัง
- เผยแพร่เมื่อ 28 พ.ค. 2024
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00:00 - Intro
01:20 - Technical Skills
04:16 - Soft Skills
05:11 - Keeping a Pulse
06:11 - Networking
07:52 - Resume/Applications
10:41 - Tip 1
12:10 - Tip 2
13:46 - Sponsor
14:52 - Outro
Resources
Student Investment Club Research: sprott.carleton.ca/ssif/ssif-...
Courses: Wall Street Prep
Newsletters: Morning Brew, The Daily Upside, The Economist Espresso
My Resume: drive.google.com/file/d/1RfXw...
Action Words: ca.indeed.com/career-advice/r...
STAR Method: www.themuse.com/advice/star-i...
Today, I go over some tips for becoming an investment analyst, which have been helpful in my own career.
If you'd like to support the channel, you can do so at / theplainbagel :)
DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice - Richard is not responsible for investment actions taken by viewers. Please seek out a registered advisor if you require assistance (while Richard is a registered portfolio manager at WDS Investment Management, he does not provide advice through The Plain Bagel, which is not affiliated with his employer).
This video is sponsored by Grammarly - It can become challenging to communicate online and work from home. With the help of Grammarly, the right tone can move any project forward! Sign up for an account and get 20% off Grammarly Premium: grammarly.com/plainbagel
First like
"What do you mean I can't use my 30 shares of GME as experience of saving a company from complete failure?"
GME did 50% in minutes the other day after they posted a profitable earnings which many doubted would ever happen...
Pick an actual failing company to make fun of... Maybe one that's less aligned with the working class retail investors?
indeed, gamestop has demonstrated its commitment to the working class by reducing shift hours and forcing employees to run entire stores themselves 🚀📈
Lol these scammer replies
Cope and seethe.
Hilarious bros who think they’re hot shit for riding bandwagons. Hubris
Accepted my first offer for an Investment Analyst position earlier this week! Took me a little over 3 years to achieve.
Why so long ?
@@reginaldoalvesdeassis9185 getting an Analyst job right out of undergrad is not common unless you went to a fantastic business school. Securing one of those jobs typically requires good prior industry experience, a solid investment track record, and progress towards the CFA. Networking and some luck will get you there if you’re persistent.
Thank you for your answer , so I am finishing my master degree in finance and I will start a course in the next month to get a CFA I know it is very difficult to get pass on it but I will study hard to be approved . Are you a CFA holder?
@@reginaldoalvesdeassis9185 no, not a charterholder yet. I didn’t sit for Level I directly out of undergrad because of Covid quarantine.
Thank you for being a genuinely good person man. Been watching you for awhile now. You’re always honest in your videos and don’t try and sell people BS. The world would be better off with more channels like this one.
As a professional investment analyst myself, I think all of your points are spot on. I help out with recruiting for my fund and I agree with all your points. The only thing I would add is make 100% sure you love investing and the stock market. There is a big difference between dabbling in investing as a hobby and doing it 60-80 hours a week
Do you have any personal suggestions on how to make that it's your cup of tea? Also, what skills are the most useful in this type of job?
@@quiklok8845 Do you like being a detective? Do you like trying to figure out the "true value" of a company and putting a number on it (while backing up your arguments)? Do you like doing data manipulation?
If you said yes to any of those, chances are you may be interested in the work involved as an investment analyst. I think it can be fun but it's definitely not for everyone.
Edit: I can't stress this enough but learn Excel and learn how to organize and present data. It's important for any job but especially important as an investment analyst.
@@devilex121 thanks a lot!
YES BUT BUT WILL BUFFET DO?!1?!1??111!?!
I am finance Research Analyst. My role is 30% writing reports, 30% staring at numbers on a spreadsheet, 30% looking at product disclosure statements, 10% communicating with clients. Therefore, it helps to be passionate about finance and good at Excel.
As a recent Engineering graduate that is interested in moving more towards a finance related career this was super helpful!
Maybe being a Quant or Data Analyst might up your alley especially if you know how to code.
@@EatMyShortsAU for sure!
@@EatMyShortsAU As a Software Engineer that is interested in Finance, does a CFA help? is it effective in moving to those types of positions?
@@andrecruz1965 Yes, I am pretty sure it does but it is also very competitive. Like you would be competing against other CFA/CA. I think it is similar to getting a computer science degree for IT. It is like the standard qualification to get in to the industry but not the only way to get in. I did a Diploma of Business then worked my way through contact centre/Administration to become a Research Analyst for a Ratings agency here in Australia.
@@EatMyShortsAU thanks for the advice. As I already have a masters in software engineering and work in a finance related field, I believe that could help, I will inform myself and try to learn more about how the certifications work in Europe. Thanks :)
Thanks for all of the helpful information! Love your sense of humor and the channel as a whole. Providing links and examples.....you did lots of good work to help a bunch of people out!
Thanks, Richard! Would be very interested in a similar video where you discuss professional development for young investment analysts (ones that already got through the door). What to focus on, pitfalls to avoid, tips, etc.
I literally looked this question up yesterday evening and you upload a video today. Thank you!
Tip #1:
Learn Excel
Tip #2:
Double check your work
Tip #3:
Double check your work
Attention to detail and getting things correct the first go is paramount. Check, double check, triple check, cross check, use checking spreadsheets etc.
Great video, you can tell Richard genuinely wants to educate with his videos, Thank you.
Thank you so much for this, this is exactly what i needed - couldn’t think of anyone better on youtube to talk about this
I highly recommend the book "Negotiating Effectively Within Your Own Organization" by Karrass. There is a course as well, but even just reading the book is a great strategic way to frame the goals of two parties in a conversation so that you can better select the specifics of your communication pattern. I've found that not understanding your goals and your conversation partner's goals is a bigger hinderance to good communication than akwardness or a small vocabulary are in general.
Top advice, personally, I went down the Finra route, did my SIE while I was in University and then did my series 86 & 87 straight after uni.. my employer is now paying for my series 7..
i am currently taking major in business economics and aspiring to be a analyst someday. I do hope you keep doing these kind of videos. thank you so much!
While im not an Investment Analyst, I am a Credit Analyst. I can concur with most of Richard’s advice. I often join my boss for new hire interviews and internships, and asking detailed questions to your interviewer can really help. Also, intern experience in finance is also very helpful, but it can be hard to get since companies like mine only hire 2-4 per year compared to 5-8 analysts per year. Letters of recommendation can be the difference here, so Network Network Network!!!!
Thank you Richard I am in university right now and just applied for a operations analyst role did not work out but will apply all of this to future applications thanks
You did a fantastic job. Very good for prepping for getting a job and outlining steps. I wished I saw this earlier and got ready with my interview 😅
It’s a privilege being able to watch, listen and learn from your videos 🙏
lost it at the intense resume editing to condense it to one page haha
it is also 100% good tip for any position, I hire for data positions and it holds true. a good argument I heard is: “if you cannot summarize your experience into one page, what does that say about your prioritization, organization, communication and presentation skills?”
What does it say about the recruiter if they can't skim over a 3 page resume? I am a Research Analyst and we have ready through hundreds of pages of documents a day. Plus I have to contribute in writing reports in which are close 300 pages. Not to mention, most HR software can automatically read and reject resume/job applications.
Recruiters have a really hard job. If you cannot summarize your experience into one page, you need better tools or better skills, because the entire industry can.
So much good info, even as a general job application video! Thank you!!
Nice job Richard, as usual! Your passion for instruction and education is evident!
"I wasn't hired for my communications skills..." You're killing it Man. Patrick Boyle - watch out!
I find the use of the Wii Shop channel music in the intro both thematically hilarious and very well timed considering the current markets 😂
Man's in Ottawa! thanks for the resume, it's aesthetically similar to mine!
The hyphen/dash behavior in Word causes some hyphens to be different sizes, so in your dates, for example: sometimes there's a '-' and sometimes there's a '--' , I know it doesn't sound like much but I've seen MDs turn up their noses for less.
Love your content as always, thanks for the chuckle at the end!
I can’t say how fortunate I am for achieved a position as a stock analyst before graduating, and yeah I used everything he said to build my carrier this early
Awesome! your potential seems timeless. Good time management, diversifying income flow and chalking out a plan remains the smart way to prepare for the unexpected and the best way to grow and sustain wealth. 4yrs in investing space and extremely pleased with the decision I made. The good news is - it’s not too late.
Congrats! I'm fascinated with investing, as a single mom and juggling all these things are quite difficult. Invested $ in few sectors but haven't seen any profit yet. Do you think I'm missing out something?
Right now the markets are going berserk right now. This is the best time to watch them, get to know them better, and strike when the opportunity presents itself. I learned that from a portfolio manager, "Lisa Michelle Pacillas" she's seen dozens of market cycles over the past few decades and she has a feel for how they move, why they move and what comes next.
Lisa Michelle Pacillas really seems to know her stuff. I found her online-page, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. I would sure render her services
This is a typical scam. DO NOT ENTER
I couldn't work with any more transparent, having met Lisa on lnstagram. I believed the process is the best way to go about investing especially for near retirees, personally I lack the time, and right attitude to deal with market fluctuations, hence consulted her services. Thankfully, I've realized so far over $5650 in savings, after subsequent investments.
Im a high-schooler about to go on summer break; thanks for giving me something to do
:)
Here I thought everyone loved excel and Spreadsheets, say me a young actuarial/statical analyst, minor in computer science and a family history of computer work
I love Excel but staring at number on a spreadsheet for 8 to 10 hours can tiredsome very quickly.
Just an important note about the 1-page resume. This is regional advice and only applies to North America. Europe and Oceania are different and 2 pages are not uncommon.
One more thing to note about résumés. Most large institutions these days use automated systems to screen them, so it's a good idea to pass your résumé from a few free online screeners to see what the systems can pick up. This is to say don't spend too much time creating fancy word/pdf/LaTeX/whatever documents which may in the end not even be recognized by such systems
Thank you for uploading such an informational video
Easiest way to enter this path would likely be in sales. Recently got a job as a life insurance agent. Company will sponsor any and as many certifications as I can pass. Will be taking my Series 7 soon. Within the company itself are also investment analysts.
I was wondering where I could find these mock research reports. I think that is a brilliant way to get in the door and as a rising senior double majoring in Finance and Accounting, I’d be thrilled if you could point me in the right direction.
Great video! Would be very interested to hear your thoughts on personal investments and the restrictions/regulations you face as a financial analyst
A two-page resume is perfectly fine too!
In the world of finance a two pager is pretty taboo. Maybe other industries are different but a 1 page resume is the bare minimum screener bar for finance
@@austinlarsen9849 I’ve been in finance for about 20 years. A 2 page resume has never been an issue 😊
I found this quite helpful, thank you very much :)
This is fantastic for a young IAR like myself when it comes to evaluating additional options or certifications to look at for personal growth as well.
Thank you!
Great points!
In fact...way too wise x)
Bravo !
Good networking is harder than accounting, financial modeling, and valuations combined
I got my Analyst role because I knew a guy that already worked at the company. I was more senior than him at my last role but he grew a lot, therefore was a key person at this new company.
Great info! Also, the CFA Institute has an archive of global research challenge reports for reference.
If I could go back in time, this would be the career I would pick. I love digging through a mountain of information and pulling out the important bits, compiling them into actionable points. Doubly so if it involves statistics and applied math!
You know... it's odd how no one wants to come over and listen to earning report minutes for fun. 😅
Great video as always!
R for finance is really great. You can run a lot of analysis 100x faster than in Excel
I went in post undergraduate in banking ops, but your advice is still valid here too. I've gone fully into data engineering at this point and soft skills are extremely important. So many people have no domain knowledge or soft skills, and aren't hireable. People want more than a programmer because even software engineering has soft areas like architecture, design patterns, project management, and requires general communication.
Also, don't be afraid to reapply, or apply to multiple roles. Never give up!
How did you make that transition? Also what did you major in undergrad/postgrad?
@@jakobpirs1392 Chance, I majored in Finance/Econ but 6 years ago or so fell into a niche in my department that required accessing our Oracle stuff with SQL and Python. So I upskilled and found I like it and am good at it. Life is very strange and random, but I've effectively moved completely over and have done graduate school for it. I've even been able to leave the industry entirely and did telecom work for a while
Richard is absolutely right about networking. Remember that every industry, even the big ones, are small enough to have people know each other, so ask for advice and if they're is anyone else they'd be willing to share an introduction to.
Also, don't bad mouth people when you network. That stuff always makes it's way back.
Hey im heading into my 4th year bachelors, major in finance about to do my l1 cfa in the summer. Honesty been stressing about my future, cant seem to even get a call back for internships and I suck at networking. I enjoy your content alot it makes finance a little bit less dry haha. Definitely will incorporate some of these tips thanks!
I would say get your foot in the door at a finance company. Even if you are doing something simply like Administration or answering phone calls any job finance related will be helpful. You got your education but not the experience.
I'm not in banking or investing but my first internship was revenue side at a startup (startup was easier to bag than a mature company). That led me to get an internship in fp&a at a big company, without using networking as i suck at that. My goal is to go corp finance so its def easier to break into, but thats just my example. If you aren't already, check out roles in startup companies. Any experience is worth getting. Goodluck!! I'm entering my 3rd/last year of uni :) same boat as u.
Great video, good advice. The only thing I might add is review and "adjust" your social media. Especially true for entry level applicants. Before retirement I worked for a global company employing 22,000 people. I promise you that the very first thing that HR did was to review applicants social media feeds. Things that may have seemed innocent in college may work against you especially if the job attracts many applicants
I wouldn't hire anyone that actively uses social media publicly. If your feed is public, your application hits the trash immediately.
@@RyuuOujiXS so basically people are not allowed to have a social life
Thank you.
Thanks for the tips
This is great advice, this the same template of advice I give to young engineers.
(unrelated to this video)
Hi Richard, good to hear your recommendations on how to step into the industry and your advices for growth as an analyst!
A small request... would you mind to make a video on how bond funds work in general..? The change in yield in major indices doesn't seem to match in the price or distribution of the funds even in trends, which is a bit confusing...
What about target vs. non-target schools? I've found the school you go to matters way more than any sort of prep you can do when it comes to pursuing a career in high finance
I think you will find that probably falls under the category of networking (obviously maybe not done by the graduate but by their family - most will require knowing the person though). Whilst this will be a big initial boost, if the person sucks at it then they wont go up much further (maybe 'promoted' out of the way) and someone coming up through the ranks will likely have earnt it/have picked up more on the way.
Obviously sucks to have to compete against, but it isnt impossible
Any chance you'd be willing to cover the many weird and mysterious Order Types (ex. Trail, Touched, Relative, Stops, Limits, etc)?
I appreciate the advice
Looking sharp in Thumbnail!!! 😎
I would also recommend looking at the CAIA qualifications vs the CFA - you "can" pass it in a year unlike the 3 years of the CFA and it's much more focussed
Agree and more interesting
Thank you so much, Richard. Your tips greatly help me. 🙏🙏🙏❤❤❤😂😅😊 Luckily I found your channel.
I’m aiming to do a career switch. Currently a director for a marketing firm, but I definitely realize that I may have to take a step back down the ranks. Sitting for CFA Level II in May. Becoming a buy side analyst is definitely the goal, so thank you for making this video!
I’m going to sit for the same session as you. Good luck to you!
@@Kraktur Thank you! You, as well.
How old are you, if I may ask? I am looking to do a career switch also but have heard this stigma that if you are a bit older that a lot of firms do not like to hire you.
@@deaz629 I’m 32, and I’ve heard that, too. My goal is to be an analyst, but if opportunities are few, Im also interested in other roles that I may be able to use as a Trojan horse to break into the field
Amazing video man!
Finance guy here! 10/10 advices
Okay so I'm already part of the way there to being an investment analyst. I'm really good at using Microsoft Office products. In fact I excel at them!
Analyse well - you're welcome I found the trait present amoung all investment analysts!
If by that you mean you being really good at providing accurate reports and data then you would be 100% correct.
Hey Richard how about you make a video giving your take on p2p lending, I learn about it recently and I'm considering it as another way to diversify my portfolio but I would love to hear your opinions on it first in case I might have missed something in my research
can you make a video detailing the daily work flows and tasks, along with work-life balance of an investment analyst? looking to get into it myself and cant seem to find anything good on this.
Networking is huge. After I completed my degree in finance, I was spinning my wheels trying to get interviews. My experience was somewhat related to the positions I applied for but not directly. I received my first break in the field due to a contact I didn't know very well.
Nepotism*
Sweet vid, cheers my dood
I appreciate your videos! Do you have any books you’d recommend for those aspiring to be an investment analyst?
Thanks a lot Richard. I follow for you many years and you were one of the main reasons I made a 180 degrees turn on my career and pursued a MSc in Finance at the age of 28. Currently in Scotland and almost done with a distinction on my program. The job market is rough. I must have applied to 60 different positions in London ( entry level roles in small-middle sized companies ) and i get 0 invites for interviews. Maybe I chose one of the worst times to peruse my passion.
No, your timing is perfect. The people who still want to be the analyst in this market are the ones that will stick with it for decades.
Speaking of Excel, do you think that BI tools like PowerBI, Tableau or Qlik will over take Excel as data analysis tool?
Good video, I would like to know if the skills of an investment analysis train you to become an Investor
Kind of curious as to why spreadsheets still dominate, as opposed to using python/jupyter nb. Of course I'm very biased as I'm a monkey with excel and wizard with numpy, but I feel like its such a more powerful and easier tool to use.
I'm a medical analyst (well, a few levels up now), with an extremely high level of development experience and experience working on large data analytics project. Think I'd be okay trying to go through the level 1 CFA program with just a basic economics background? Should I focus on something else if my goal is to just help work more closely with my company's finance department?
Hey I just received an offer as an Investment Analyst Intern for a large retirement company and I was wondering what I should be doing prior to prepare for the internship?
How do you see the job as a financial analyst changing in the face of AI? For example, I assume technical skills as using Excel will have a lot less relevance, etc.
#3 keeping a pulse on the market (I paraphrase as be news savvy)
What value does this bring as an investment analyst? Am I mistaken to believe that an investment analyst stock picks and manages the performance of a portfolio? Maybe gives internal ratings of said stock picks etc. If you need to keep a pulse on the market it seems to contradict the mentality of an investor vs trader with short term news clouding your decision in managing a long term portfolio
Pfffft, I just watched a bunch of yt vids on finance so I'm good. TO THE MOON BABY
actually answer interview questions from the POV of an analyst, i got an interview once as a research intern, i likely have the most investment knowledge out of my peers (not trying to be braggy, but i do think that's the case since most of my peers weren't even into investing, they're just doing it for the sake of job experience), yet i still got rejected for some guys i never heard of, why? they asked me questions relating to discretionary analysis on individual securities, i gave them quant answers, i was just trying to be honest with my investment approach, yet that wasn't really appreciated
In the uk I would say make your CV no longer than 2 pages
Hi, does it matter where I'm going to college? I'm going to a T10 school, since I heard I could get a job right out of college from a Job Fair if I'm top of the class. Is that true? Any networking you'd recommend?
I wish I saw this 3 years ago. I just got my MBA but they've asked "where's your CFE? CFA? CPA? FINRA?" To which I have none of them. Gotta get those certs before you graduate😁
Plain bagel actually went to a good school for finance in ottawa Canada
Like you being transparent
Hi Richard, where would you recommend me to learn Advanced Excel? How did you learn Advanced Excel?
What is your opinion on someone who wants to do a career switch? The reason I ask because I hear a lot or rumours that firms especially the top firms only like to hire young analysts from major universities that just freshly graduated. I just turned 33, during covid a few years back I studied my bachelors majoring in finance and will graduate in few months. Also sitting CFA in May. Have found a hure passion for investing and stock markets. Have over 10 years of experience working in mortgages and retail banks. What are your thoughts? Or input from others are welcome.
😅Excel and Mathematical Analysis are the reason I never applied for any job after completing my Econ&Finc degree. I opted to trade as a retail trader, no regrets, I'm good in analyzing Geopolitics and Economic Trends so I trade Fundamentals.
Made big money in the Euro Short when Ruasia invaded Ukraine, shorted Bitcoin and then made a tidy amount in the recent Banking Stocks Short.
I love the UnMathematical side of Economics and Finance.
Sounds interesting.
Will you be uploading a video soon regarding the brics situation? Everyone is saying to "buy crypto" "invest in gold" "grab assets", and the financial horoscopes claim that we're going to suffer a massive inflation. Would love to hear your input
Vibing hard to the Wii Shop Channel music in the background.
I like plain bagels so I subscribed
What about people who work in other fields (i.e. consulting) and want to break into investment?
Are we pretty much locked out if we're c.5 years into a career?
Woo! Another Carleton Grad! Go Ravens! Lol.
What's your honest opinion about how the average joe would fare in achieving a CFA designation? Asking for a friend. He's more interested in achieving the designation for the knowledge, than he is getting a job as an investment analyst.
I thought you weren't supposed to use resume templates? Since they have code built into them and because of that lots of company resume screeners automatically block them.
Would an Accounting undergrad degree with a CFA/CPA be an acceptable background to apply to an analyst position?
How about more about the banks failures? Dominó effect?
What roles exist in a typical investment company?
I'm happy with my career in flight instruction, but it was interesting anyway.
Is buying the IAC (investment Advisor certification) worth it ?
what do you think about the cfi