Summer Diaries: My experience with Shannonside – Karthik Ramakrishnan (BM)

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Summer Diaries: My experience with Shannonside – Karthik Ramakrishnan (BM)

For the interview process, I was very thorough with my CV and the basics of finance which I had done as electives in my UG. I was also very clear about the role and type of skills required and prepared myself for such role-fit questions.

Where did you do your summer internship?

I interned at Shannonside Capital – a buy-side hedge fund based out of Ireland.

 

What was the role offered?

The role offered was that of a research analyst. Being a buy-side firm, the analyst’s job is to conduct thorough research on the industry/sector and stock assigned to him. The difference between buy-side and sell-side is that in the buy-side domain, this research is directly used for the business of the fund and not to third parties.

 

Tell us about the GD and interview process of the company.

Shannonside has a research question deliverable where you need to answer the specific question related to the stock assigned to you. You need to go through all public documents like Annual Reports etc. and make a well referenced report with your recommendations/conclusion. The shortlisted people are called in for an interview which is a VC with the portfolio manager. The interview mainly tests your interest for the role, initiative points undertaken by you, your communication skills and basic aptitude questions and guesstimates. Usually, depth in finance is not tested unless you have that relevant experience.

 

What was your approach for preparing for the process? Any specific preparation you did for this company?

For the interview process, I was very thorough with my CV and the basics of finance which I had done as electives in my UG. I was also very clear about the role and type of skills required and prepared myself for such role-fit questions.

 

Tell us about the internship project you worked on. (Describe in timeline/stages)

Briefly, I was involved in conducting a thorough research process of one of the opportunities that interested Shannonside. I had weekly deliverables regarding parts of the research process, combined with regular feedback sessions from my mentor. The project culminated with a complete research report with my investment recommendation of the stock for the company.

 

Tell us about the pre-internship and post-internship processes (homework you had to do before the official internship period, orientation process and PPO opportunities)

Before the internship, I was told to read a few books on the concepts of finance and business valuation and answer the simple questions to test my learnings.

We had a final presentation of our work with senior fund managers from the USA who judged our performance along with our mentor. The PPO results are awaited.

 

What was your key learning from the internship period?

I got to understand the nuances of equity research and business valuation which also helped me in some finance courses in the second year. But most importantly, I realized the demanding life of a research analyst in the highly competitive hedge-fund industry – where time is money and you need to put in long hours with complete focus to perform well.

 

What were the key challenges that you faced during your internship?

The major challenges faced was due to the steep rise in the learning curve for me – being an engineering fresher with no finance background. There were times when I had to put in more effort and time than the already long hours put by all us interns. My mentor was always available to address any doubts and I could quickly ramp up to the level of others mainly because of this. The internship also gives an exposure to primary research that is done by calling and speaking to senior management of the company and competitors. This was extremely challenging for someone who is starting new as an analyst and was a valuable learning experience.

 

How relevant were the concepts taught in the classroom to the situations and pre-requisites of your internship?

The concepts are currently being taught to us in our second year

 

How effective was the internship in terms of helping you make a choice about your career?

The internship gave a perfect picture of the role of a research analyst. I realized that this is an exciting career path where you read and learn about various businesses and business models and make a fundamental analysis of the company. I realized that I liked the work and would like to pursue this in the future.

 

Would you like to work for the same organisation if given a chance?

Though the internship was very challenging, I liked the amount of knowledge that I could gain from just 2 months and this made me realize that the opportunities that one could gain on a full-time job are immense. I would certainly like to work at Shannonside if given an opportunity.

 

Do you have past work-experience? If yes, did you find any significant change during your summer internship?

I do not have prior work experience.

 

How did you like the work culture of the company? (Mention the contribution of your mentor/other employees of the company during the execution of your project)

The work culture is unique as my internship was a work-from-home, but still we felt very involved as we would have feedback and discussion calls almost daily. The only exciting thing about this is that I could get to see the Irish landscape a bit during our VC discussions

 

Share a memorable incident from your summer internship.

The memorable incident that I could recollect is the award that our mentor gave us after our final presentations. I was extremely happy to get the “Learning Curve Climber” award and appreciation from my mentor on the steep learning that he felt I developed over two months being a fresh UG from a different background.

 

What suggestions/advice (specific preparation strategy) would you advise to juniors?

Be very confident in your interviews. A smile and assertiveness is something that would surely help you even in that interview which is full of surprises!

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