Our Equity Research Associate (ERA) Co-Op Program working with Generative AI revolves around:
- Generating market moving, best-in-class equity research, in under 3 months
- Pitching your stock in-person and facing Q&A with Toronto buy-side and sell-side professionals
- Working one-on-one with Robin Manson-Hing as well as in groups of no more than 3 associates to ensure you excel. Robin has 10 years of sell-side experience primarily covering technology stocks, 5 years of generating alpha heading up an independent equity research firm primarily focused on software stocks and thousands of hours leveraging the latest in generative AI tools in the application of capital markets.
- Applying the latest in AI, including machine learning, deep learning, neural networks and LLMs to accomplish tasks from web scrapping, scrapping tabular and text data from press releases and filing data, generating unique exhibits, automatic note generation, in order to produce best in class equity research, forecasting, presentations and stock pitches for individual equities in a timely and cost effective manner.
- Having potential employers see your equity research report publicly as well your code on GitHub privately.
- An aspirational goal is to have your research coverage be maintained through AI when er you leave
Background:
- 50% of co-op equity research associates who have 1) successfully completed all co-op training and 2) have launched coverage for Perspectec in our Equity Research Associate Co-op Program have found full-time employment in sell-side/buy-side institutional equity research or private equity analysis within 18 months.
- 100% of co-op equity research associates in our Equity Research Associate Co-op Program who have co-authored externally published research have received full-time employment in Toronto in sell-side/buy-side institutional equity research or private equity analysis within 18 months.
- As of 2024 Perspectec has seen over a dozen associates obtain positions in equity capital markets, private equity analysis, investment banking or equity advisory services, typically within one year of finishing with us.
- Generative AI tools can increase productivity of capital markets associates and analysts multifold. All individuals completing our program in 2024 will have successfully applied the latest in artificial intelligence libraries from the basics of Numpy and Pandas to OpenAI, scikit-learn and PyTorch as well as lesser known specialized libraries to enhance your firm’s return on investment within the framework of capital markets.
The wording below is for informational purposes only. Beginning in May of 2017, Perspectec Inc., an SEC-regulated investment adviser firm based in Toronto, Ontario began hiring and training part-time Equity Research Associates, with each associate maintaining continuous coverage of one volatile growth stock. While our track record was a solid outperformance of major North American Indices with minimal turnover, our track record of keeping associates was less than stellar. We found that a clear pattern emerged. Associates who consistently attended 1-on-1 meetings, had a good understanding of financial statements, and were intelligent and extremely driven to produce and pitch differentiated research in almost every instance received a full-time offer in equity research or a related analytical finance role, or had materially progressed in their career.
The following are some examples of individuals leveraging their work experience with Perspectec into careers in equity research or a related analytical field in finance. Identities have been partially redacted for privacy reasons.
My time at Perspectec and Robin’s mentorship really helped shape my understanding of the ebbs and flows of the market and the value creation that buy side values. Robin’s focus on discovering the true economic value and his intense drive to gain an edge helped shape my foundations at the beginning of my career, which in turn set me up for the rest of my career
Hamza A., Equity Research Associate at a Multi-National Investment Bank
Working with Robin and Perspectec has sharpened my research and investment acumen. The group’s focus on the dynamic technology space, among others growth industries, as well as Robin’s guidance and the group’s support have all aided me in my development. I would definitely recommend this program to those looking to improve their investment craft. It’s extremely rare to have the opportunity to take-on a live research role where your skills are tested and refined and at the same time have your creativity and insight valued.
Jeremy, Investment Analyst (buy-side), Public Equity Investments at a Big 5 Canadian Bank
I consider myself fortunate to have worked with Robin as an Equity Research Associate (Co-op). It was an amazing learning experience – we did everything from building a financial model from scratch, financial statement analysis, calculating and interpreting industry (technology) metrics, interviewing customers and conducting surveys to understand the underlying business model. Very few in the industry out there go out of their way to teach the way Robin does. He is very talented and with a rich experience on Bay street, he knows his stuff inside out. He encourages and pushes you to be creative and entrepreneurial. This co-op experience is so much more than just getting your foot in the door. You get to work on real research and this work is appreciated and valued by research analysts on Bay street.
Sonal, Research Assistant at a major Toronto buy-side firm
Perspectec’s 1-on-1 training equips you with the skillset to stand out from the crowd and publish differentiated value-add research. The founder, Robin, provides tireless support, guidance and helps mold you for the industry. Very rarely do you get the opportunity to work closely with a professional having a strong knowledge base of the technology sector and a deep understanding of the unique and ever-evolving metrics which technology companies trade on. I am very grateful to have been a part of Perspectec.
Ayesha, Financial Planning and Analysis in a volatile growth industry
I worked at Perspectec for 6 months and it was an incredible journey. I am forever grateful to Robin, who personally invested in my career growth and learning path. While at Perspectec, I sharpened my financial modelling skills while learning creative ways to conduct differentiated research and present it in a format that was marketable to institutional investors.
As an international student it is also difficult to break into the Canadian job market without Canadian experience. Perspectec provided me with the very necessary experience while completing my Master’s in Finance from Queen’s University.
Mishma, Consultant Risk Advisory at a Big 4 accounting firm
Perspectec provided me with the unique experience in equity research. Not only do you perform institutional equity research in a traditional way, Robin encourages you to develop your own methodologies based on a deep understanding of your coverage company and its industry. The experience in my opinion, is of a real benefit in pursuit of a career in equity research.
Kevin, Senior Analyst at a Big 5 Canadian Bank
Working at Perspectec provided an invaluable experience into the world of equity research. I was able to develop a deep understanding of how investments are valued while building strong research and financial modeling skills. Robin was a pivotal player during my time at Perspectec where he fostered a positive environment, providing valuable opportunities for one to develop meaningful skills. It was a pleasure having the opportunity to work with Robin.
Michael, Junior Analyst/Economist at the Treasury Board of Canada
We have formalized the training and work into a formal 8 to 10+ week program to compensate us for the dozens of 1 on 1 in-person hours spent working together. Associates will aid Perspectec in our research coverage while the associate leverages their experience to land a role in equity research or equity capital markets in general. A top performing associate or revenue generating associate may potentially continue working with us on a month-by-month, part-time or full-time contract basis.
Equity Research Associate Co-op Program
- A maximum of three associates.
- In-person meetings a minimum of twice per week, once a week as a group and once a week individually. Meeting dates and times are flexible Monday through Friday between 10:30am and 8pm. Group meeting schedules are reached through a consensus and may be broken up into groups smaller than three if necessary.
- Unlimited amount of interactions through slack or phone 6 days a week.
- Work towards launching coverage. Published and/or approved research may be marketed to buyside and/or prospective employers respectively.
- A minimum one week, full-time paid co-op term
- Receiving your Perspectec Generative AI Institutional Equity Research Certification by completing one quarter of a financial model in under 2 minutes using machine learning and/or a customized LLM model, generating a quarterly note using generative AI tools in under 5 minutes and receiving the approval from an independent capital markets panel after making a successful stock pitch.
- After receiving your Perspectec Generative AI Institutional Equity Research Certification, we may market the associate and their work to buyside. There is also the potential for the term to be extended depending on revenue generation. Please see the program description.
- Work experience as an Institutional Equity Research Associate
- Cost of the program is $3,900 including tax. In-person only at our downtown office.
The Equity Research Associate co-op has the following requirements:
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An MBA or MFin graduate/student from a top 10 Canadian business school or top 200 International business graduate program. Alternatively, a Canadian BComm or BBA degree majoring in accounting, finance, economics, or other business discipline along with the completion of CFA level 1 and 2+ years of work experience. It is preferable that the associate has passed CFA level 2.
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Alternatively, a computer/data science or engineering undergraduate degree from a reputable Canadian/U.S. university is acceptable if the candidate has passed CFA level 2 and has 2+ years work experience.
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Alternatively, a 4-year International university business degree along with a demonstrated understanding and interest in North American equities and has passed CFA level 3.
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Eligible to work in Canada
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A desire to be the best and produce market-moving, innovative equity research
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A referral from a Capital Markets professional is preferred
Institutional Equity Research Coverage Program
- A maximum of two associates hybrid or remote
- 80+ hours
- Work towards launching coverage. Published and/or approved research may be marketed to buyside and/or prospective employers respectively.
- Cost of the program is $2,950 including tax, $1,950 to work entirely remotely
- Publish a marketable research piece to pitch to industry professionals
- Flexible meeting times from 10:30am to 7pm
The Coverage Program has the following requirements:
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An MBA or MFin graduate or student from a Canadian business school or reputable international school
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Alternatively, a Canadian BComm/BBA degree and has passed CFA level 1 OR completing our training and receiving your Institutional Equity Research Certification. It is preferable that the associate has passed CFA level 2 and has 2+ years of work experience
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A desire to be the best and produce market-moving, innovative equity research
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Looking to start a career in Capital Markets within the next 3 months
STEP 1:
Look through the program description (program titles are linked) and make sure you are eligible. A $200 deposit starts the application process:
STEP 2:
Fill out and submit the following form along with your resume electronically to general@perspectec.com.
Applications and resumes may also be hand-delivered to the 1st-floor reception at 507 King Street East in Toronto. If you submit the application and the program is full, a 100% refund of the deposit will be made within one week.
STEP 3:
The remainder of your full payment must be made within five (5) business days after notification of your acceptance to a Program.
All figures on this page are in CAD and include taxes.
Equity Research Associate Co-op Program
Institutional Equity Research Coverage Program
Any questions can be answered at general@perspectec.com or by calling us at (416) 898-8546. Unknown names and/or phone numbers may not be answered unless it is preceded with an email.