Equity Research Intern
Equity Research Intern
at Ariel Investments (View all jobs)
New York
Ariel Investments is a premier, boutique, asset management firm. Our primary goal is to drive exceptional investment returns by bringing diverse perspectives together. The only way to beat a benchmark is to not look like one. As value investors, our thinking is deliberate and unconventional. We offer an independent, patient investing approach and aim to deliver excellence in any environment. We uphold our fiduciary responsibility to every shareholder, no matter how big or small.
At Ariel, we strongly believe that teamwork yields results—which is why we have Co-CEOs. John Rogers and Mellody Hobson share a desire to cultivate leaders who are curious, focused and disciplined. We are nimble and efficient. Our drive is fanatical and intentional. Everyone plays their position and each contribution is critical to our firm’s success. We seek subject matter experts who are unapologetically themselves. We encourage our employees to reach their full potential and we give them the runway to do so.
After nearly four decades of active investing, we remain committed to our clients, our teammates and our community. We strive to be best-in-class investors and pioneer a path for those who entrust us with their financial future.
The international and global team located in New York City is made up of a group of non-consensus intrinsic value oriented investment professionals. We offer an independent, patient investing approach and aim to deliver excellence in any environment.
Ariel celebrates diversity and practices inclusion as a way to get work done – it’s in our DNA. As an equal opportunity employer, our employment decisions are based on business needs, job requirements and individual qualifications without regard to race, color, religion, age, sex (including pregnancy), sexual orientation, gender identity, national origin, ancestry, marital status, parental status, mental or physical disability, military or veteran status, or any other basis protected by federal, state, or local law. Ariel is committed to recruiting and retaining talented applicants, and to providing all employees with a workplace free from discrimination and/or harassment.
We are looking for an equity research intern to work with our global equities team based in New York City. Due to Covid-19 restrictions, the internship is expected to occur remotely until further notice but no sooner than local restrictions allow. The duration of this internship is expected to last 3 months, but based on business needs, performance, and personal conduct it can be extended further. Must be fully vaccinated by date of hire. Proof of vaccination is required as a condition of employment.
This internship is an excellent opportunity for first year MBA students or recent MBA graduates who are looking to develop skills in conducting deep and differentiated fundamental research alongside a small, high-performing team of experienced and talented investment professionals using a well-established and institutionally oriented intrinsic value investment process with a long-term investment horizon.
Responsibilities will include:
- Conducting industry studies, competitive benchmarking, and fundamental analyses of companies globally.
- Analyzing business strategy, industry structure, financial metrics, and evaluating other relevant information for companies.
- Detailed bottom up financial modeling including TAM analysis, revenue segments, IS/BS/CF statements, DCF and multiples-based analysis.
- Compiling and/or presenting qualitative and quantitative analyses and insights.
- Executing research related projects at the request of the Portfolio Manager and/or Director of Research.
Experience
- First year MBA students or recent MBA graduates (0-1 years) with strong academic credentials from leading MBA (or equivalent) programs, preferably with pre-MBA experience.
- Prior experience working in international developed or developing markets is highly desirable, but not required.
- Ability to identify factors such as competitive advantage, strategic inflection points or disruptive developments as well as the ability to synthesize and articulate these fundamental characteristics both qualitatively in a thesis write-up and quantitatively in a detailed financial/valuation model.
- The role will involve significant bottom-up financial modeling and prior experience in financial modeling in excel is highly desirable. Experience with one or more programming languages (VBA, Python etc.) is also desirable.
- Strong understanding of accounting and valuation concepts, preferably with advanced graduate level course work in accounting and valuation (or equivalent work experience).
- Effective oral and written communication skills to comprehensively yet succinctly articulate research findings and investment theses.
- Ability to work remotely in a digital and paperless environment with minimal supervision.
Education
- Bachelor or Master’s degree
- MBA and/or CFA preferred
- Proficient in MS Word, Excel, PowerPoint
Be sure to include whether you currently hold an Optional Practical Training Card (“OPT”), and if you are eligible for extension of your OPT, in your resume and cover letter. In the cover letter, please summarize your experiences and expertise that highlight the ways in which you meet the qualifications for this role.
Ariel celebrates diversity and practices inclusion as a way to get work done – it’s in our DNA. As an equal opportunity employer, our employment decisions are based on business needs, job requirements and individual qualifications without regard to race, color, religion, age, sex (including pregnancy), sexual orientation, gender identity, national origin, ancestry, marital status, parental status, mental or physical disability, military or veteran status, or any other basis protected by federal, state, or local law. Ariel is committed to recruiting and retaining talented applicants, and to providing all employees with a workplace free from discrimination and/or harassment.