Last evening, I got a call from a girl. She was a Chartered Accountant (CA) and wanted to inquire about the equity research programs that FinanceWalk conducts.
My conversation with her went like this –
I : “Hello, this is Avadhut here, how can I help you?”
The girl: “I want to know the programs that you guys conduct.”
I : “ We conduct online and classroom programs in Equity Research and Financial Modeling.”
G : “ OK, Online programs are self-study programs, right?”
I: “ No, we have instructors who solve your queries quickly, and, this is a highly interactive program.”
G: “ Give me a discount since it’s an online program.”
I: “ Sure. We provide group discounts. How many of you want to join?”
G: “…………. What about placements? Do you think I will have a problem in getting a job since I’m a CA?”
I : “ Well, if you’ve “right skills” and “right attitude”, there is no dearth of opportunities for the right candidate.”
G: “ Right Skills? What’s that?”
I : “ Equity Research skills.”
G: “ Well, I’m a CA, I don’t need to learn equity research.”
I : “OK, so do you have any experience or skills in financial analysis or Excel financial modeling or writing reports?”
G : “ Well, no… I’ve two years experience in tax and auditing.”
I : “ In that case, I suggest, you visit job sites like Monster.com, and see what the employers in equity research look for in a candidate.”
G : “ OK.”
I’ve mentioned this conversation in detail just to share some of my experiences with you.
Why I’m doing that? I want everyone of us to introspect and do a reality check.
A reality check that will give us far better results than what we’re expecting.
Time and again, I’ve mentioned this secret of making a great career in equity research.
To elaborate this secret, let me give you two sides of the coin.
Equity Research Career: Employer’s point of view
I’ve met many employers in this field, everybody told me this—we want trained candidates who will “deliver”. We want a candidate who will do a job better or faster.
We need people who will be productive from day one.
They also added, we don’t want candidates who’ve attitude problem as such candidates don’t fit in our organization.
Equity Research Career: Employee’s point of view
Regularly, I interact with students who’ve done MBA,CA,CFA or Graduation/Post-graduation in Finance. They think that they are in demand since they have great degrees.
They have this “assumption” about “placements” that will make them managers instantly. They think they have this “Alladin ka Chirag” which will give them any job that they want.
Equity Research Career: My point of view
After interacting with both sides of the coin, I’ve a balanced view:
1. Only degrees/certificates will not fetch you a job. Educational qualifications are just to shortlist candidates.
2. Only right skills and right attitude will give you a job.
3. Right attitude includes patience, conviction and integrity.
4. Right skills include those technical skills that are required by the employer.
5. Be realistic. Check how you can add value to employers.
6. Don’t keep unrealistic salary expectations.
7. If you don’t have right skills, join a course for skills, inquire well about the skills that you will learn. Don’t judge any institute by placements, as the placements figures may not be real ones and can be manipulated easily.
8. Don’t be insecure, rather be confident by acquiring right skills and right attitude.
9. Have patience. It will give you high ROI in long term.
I’ve mentioned all these points after a reality check. So, even if you’re an MBA/CA/CFA, you need to learn equity research skills.
So,take 5 minutes everyday for introspection. It’ll change your life 🙂
Focus on skills, rather than only knowledge if you want to get into equity research career.