- Stages
- 5
- Typical timeline
- 3 to 6 weeks
- Difficulty
- Hard
- Format
- Interviews, stock pitch, modelling or writing test
Equity research interviews test financial analysis, writing and investment judgement. Expect technical questions on valuation and accounting, a stock pitch, a modelling or written research task and questions about the sector the team covers. Interviewers want a clear, well-supported view on a company, accurate analysis and strong writing. Following the markets closely and knowing the team's coverage universe makes a big difference.
The interview process, stage by stage
- Recruiter screenBackground and interest in markets.
- First roundTechnicals and motivation.
- Stock pitchPitch a company with a clear recommendation.
- Modelling or writing testBuild a model or write a research note.
- Final interviewsSenior analysts and sales or portfolio managers.
How you're scored
Accurate, insightful financial work.
Well-supported investment views.
Clear, concise research writing.
Understands the sector and current themes.
Likely Equity Research Analyst interview questions
Pitch me a stock.
A strong answer includes: Recommendation and target, thesis, valuation, catalysts, risks and what would change your view.
Why use EV/EBITDA rather than P/E?
A strong answer includes: EV/EBITDA is independent of capital structure and depreciation policy, useful when comparing companies with different debt levels.
A company beat earnings but the share price fell. Why might that be?
A strong answer includes: Expectations were higher, weak guidance, poor quality of earnings or wider market moves.
Every question for this interview, with what strong answers include. Free with an account for the first few; all of them with Pro.
Common mistakes
- A stock pitch without a clear catalyst or valuation
- Knowing little about the team's coverage
- Long, unfocused written work
- Confusing a good company with a good stock
Questions to ask them
- Which companies does the team cover?
- How is research distributed and used?
- What makes a research note stand out to clients?
- How do analysts develop their own coverage?
Candidate experiences
No candidate reports for this interview yet. Interviewed recently? Share what they asked and help the next candidate.
Share your interviewFrequently asked questions
How do I pitch a stock in an interview?
Give a clear recommendation and price target, a short thesis with two or three reasons, valuation support, catalysts that will move the price, key risks and what would change your mind. Keep it under five minutes.
What technical questions come up in equity research interviews?
Valuation methods, how the financial statements link, multiples such as P/E and EV/EBITDA, how accounting choices affect earnings, and sector-specific metrics.
What is an equity research writing test?
You may be asked to write a short note on a company's results or a news event. Lead with the conclusion, support it with numbers and keep it concise.
Sell-side or buy-side: are interviews different?
Both test valuation and stock pitches. Sell-side interviews focus more on writing and client communication. Buy-side interviews focus more on investment decisions and portfolio fit.
