Meet a Buy Side Research Intern

Meet a Buy Side Research Intern

Alma Mater: The College of William and Mary

Hometown: Bala Cynwyd, PA

How would you describe a typical day as a Buy Side Research Intern?

I arrived each morning around 7:15 a.m. and started my day by combing through the news since the previous days’ close. My role was to frame that news in terms of its relevance to trading in a morning email that would ultimately be shared with the traders. I found this so helpful in learning about what news was and was not impactful. Before the open, I also participated in short morning huddles with the traders, where research highlighted the most important news to them and answered their questions. These meetings were invaluable in learning how the analysts concisely and contextually framed information to traders.

After the open, I worked on projects that included compiling historical election data and background on related market movements to identify possible trading opportunities. Being on the desk, I often asked the analysts about their interpretation of the news and for feedback on my projects. After the close, traders and researchers sent recap emails that encapsulated stories from the day. These were really instrumental from a development standpoint, so I read each one and asked questions if I didn’t understand something.

What was the most impactful experience or project you had during your internship?

While researching overnight news one morning, I came across an event that hadn’t been on our radar. I quickly prepped thoughts on what might be relevant and passed the information on to my senior analyst, who further refined what we presented to the traders during our morning huddle. When the headlines hit later that day, we were prepared and our team made some really great trades. I was both surprised and proud to have that kind of an impact and thought it was really unique to be able to see such a quick, direct result from my work. My senior analyst credited me in her recap email later that day as well, which spoke volumes to me about the team environment at SIG.

How did the training you received outside the classroom influence your internship experience?

I had never been on a trading floor before joining SIG, but through formal and informal mentorship, I made meaningful strides throughout my internship. I was assigned a “buddy”— a recent full-time hire, who was extremely helpful in answering day-to-day questions. When senior analysts assigned projects to me, they always explained how they would be used and what could be done to improve my work. Having the opportunity to interact with traders on our desk so frequently was also instrumental in helping me see the connection between research and the trading decisions being made on the desk.

If you were speaking with a student considering an internship in research, what advice would you give them?

I’d say that, while there is so much of the role that is picked up through the experience itself, there is plenty that you can do on your own ahead of time to give yourself a head start. I recommend reading sources like WSJ, NYT, Reuters, Barron’s, and Bloomberg. I also enjoyed watching CNBC, which concisely summarized the most important market stories of the day. Additionally, the CBOE offers a free online options course, which is another fantastic and easy way to improve upon your markets and options knowledge. All of these are great ways to showcase your interest in the markets as well!