Andra Markets

Break into Wall Street

A guide to breaking into markets roles from any university and any country: what each job is, when to apply, and how to get noticed.

Investment banking, sales and trading, asset management, equity research, hedge fundsLast reviewed

The roles

Five ways into markets: what the job is and what a day looks like for a first-year analyst.

Advises companies, governments and investors on mergers and acquisitions and on raising money through shares and bonds. Analysts build financial models, valuation work and the pitch books bankers take to clients.

A typical day

  1. Morning: check markets news and client updates, then turn comments on a pitch book.
  2. Afternoon: update the model, comparable companies and precedent deals; calls with the deal team.
  3. Evening: the long part of the day. Drafts go up the chain (associate, VP, MD) and come back with comments.

Suits you if

You like detail, deadlines and accounting, and can sustain long hours in the first years.

Where it leads

Private equity, corporate development, hedge funds, growth equity.

Makes markets for institutional clients in equities, rates, credit, FX and commodities. Sales owns the client relationship and the flow of ideas; traders price and manage the risk the bank takes on.

A typical day

  1. Before the open: overnight moves, the economic calendar, the morning meeting.
  2. Market hours: quoting prices, executing orders, managing the book, speaking with clients.
  3. After the close: risk reports, profit and loss, and preparing for tomorrow.

Suits you if

You think fast under pressure, enjoy markets every day and are comfortable with numbers in your head.

Where it leads

Hedge funds, asset managers, macro research, fintech.

Invests money for pension funds, insurers, endowments and individuals across equities, fixed income and multi-asset portfolios. Juniors support portfolio managers with research, monitoring and client reporting.

A typical day

  1. Review positions and overnight news on the companies and markets held.
  2. Research: company meetings, models, sector work, investment committee notes.
  3. Client reporting and portfolio analytics.

Suits you if

You want a long-term view on markets and enjoy forming and defending an investment opinion.

Where it leads

A long career in the industry is common; also hedge funds and wealth management.

Covers a sector of listed companies, builds earnings models and publishes recommendations. Sell-side research serves the bank's clients; buy-side research serves the analyst's own fund.

A typical day

  1. Before the open: write up overnight results or news for the morning call.
  2. During the day: update models, speak with company management and investors.
  3. Earnings season is intense: several results a day across the coverage list.

Suits you if

You enjoy writing, accounting and a deep view on one industry.

Where it leads

Buy-side research, asset management, hedge funds, investor relations.

Run concentrated strategies (long/short equity, global macro, credit, event driven, quantitative) for institutional investors. Teams are small and juniors are expected to generate ideas early.

A typical day

  1. Track positions and the news that moves them.
  2. Deep work on a few ideas: models, expert calls, data.
  3. Pitch ideas to the portfolio manager and defend them.

Suits you if

You already invest or research on your own, and want your ideas judged by their results.

Where it leads

Few graduate programmes: most join after two or three years in banking, research or quant roles. Quant funds hire graduates directly.

A one-page CV

  1. One page. Recruiters spend seconds on a first read.
  2. Order: education, experience, leadership and activities, skills and interests.
  3. Each line starts with a strong verb and ends with a result, a number if you have one.
  4. Plain layout: one sans-serif font, no photo, no colours, no graphics.
  5. Write grades the way the country reads them (GPA in the US, classification in the UK) and add context for non-target or foreign schools.
  6. Save as a PDF named with your name and the role.
Sample CV. Every name, firm and figure is an example.

Networking and cold emails

  1. Make a list of alumni and people from your country in the teams you want, with LinkedIn and your university's alumni network.
  2. Write short, specific emails. Ask for fifteen minutes, not a job.
  3. Prepare for each call: their background, two or three questions, your short story.
  4. Send a thank-you note the same day, and an update when you act on their advice.
  5. Keep a simple tracker: name, firm, date, notes, next step.
Template

Subject [University] student interested in [team]

Dear [Name],

I am a [year] student studying [degree] at [University], and I saw that you also studied there before joining [Firm]. I am preparing for [role] applications and would value fifteen minutes to hear how you made the move and what your team looks for.

Would a short call in the next two weeks work for you? I am happy to fit around your schedule.

Kind regards,
[Your name]
[LinkedIn]

Subject Question about [team] at [Firm]

Dear [Name],

I am a [year] student at [University] and I have been following [Firm]'s work in [area], in particular [specific deal, report or trade]. I am applying for [role] this cycle and would be grateful for fifteen minutes of your time to learn about your path and the team.

If a call is not possible, any advice by email would be just as helpful.

Kind regards,
[Your name]

Subject Thank you, [Name]

Dear [Name],

Thank you for your time today. Your advice on [specific point] was especially useful, and I will [action you will take].

I will keep you posted on my applications.

Kind regards,
[Your name]

Technical preparation

Interviews test accounting, valuation and how well you follow markets. Learn the logic, not scripts: interviewers ask follow-ups. Practise with Markets Interview Prep.

Visas for international students

Rules change often. Always check the official source before you apply.

United States

  • F-1 student visa: CPT and OPT

    CPT allows internships during the degree when they are part of the curriculum. OPT allows 12 months of work after it.

  • STEM OPT extension

    24 more months for graduates of STEM-designated degrees. Many quantitative finance and some finance master's programmes qualify: check the programme's classification before enrolling.

  • H-1B

    The main long-term work visa, allocated by an annual lottery and sponsored by the employer. Rules and fees changed in 2025.

  • Nationality routes

    E-3 for Australians, H-1B1 for Chileans and Singaporeans, and TN for Canadians and Mexicans in listed professions.

United Kingdom

  • Graduate Route

    Work without a sponsor after a UK degree: two years, cut to 18 months for applications from 1 January 2027.

  • Skilled Worker

    Employer-sponsored. Most large banks and asset managers hold a sponsor licence; salary thresholds apply.

  • EU citizens

    Since 2021 EU citizens need a visa to work in the UK. Irish citizens are the exception.

European Union

  • Free movement

    EU, EEA and Swiss citizens can work in any member state without a permit.

  • Post-study job search

    Most countries let non-EU graduates stay to look for work after a degree, for example Germany, France and the Netherlands.

  • EU Blue Card

    For highly qualified non-EU workers with a job offer above a salary threshold set by each country.

Certifications

Useful, never a replacement for experience: recruiters value a finished internship over any certificate.

  • CFA ProgramCFA Institute
    When
    Best for asset management, research and hedge funds. Students can sit Level I before they graduate; check the eligibility rules.
    Worth it
    High for buy-side roles; a heavy time commitment.
  • FMVACorporate Finance Institute
    When
    Online modelling and valuation training.
    Worth it
    Useful practice for technicals; not a substitute for experience.
  • Bloomberg Market ConceptsBloomberg
    When
    A short self-paced course on the terminal and markets basics, often free through university libraries.
    Worth it
    Quick and shows interest in markets.
  • SIE examFINRA
    When
    The entry exam for US securities roles; firms usually sponsor the later licences.
    Worth it
    Optional before an offer; some students take it to signal commitment.
  • CISI qualificationsCISI
    When
    UK securities and investment certificates.
    Worth it
    More relevant in operations, wealth management and compliance.
  • CAIA and FRMCAIA Association, GARP
    When
    Alternatives and risk management.
    Worth it
    Later in a career rather than before the first job.

Resources

On Andra Markets

Books

  • Investment Banking: Valuation, LBOs, M&A and IPOs (Wiley)

    Valuation, leveraged buyouts and the M&A process.

  • Valuation: Measuring and Managing the Value of Companies (McKinsey & Company, Wiley)

    The reference on corporate valuation.

  • Options, Futures and Other Derivatives (Pearson)

    The standard text for sales and trading and risk.

  • The Intelligent Investor (Harper Business)

    The case for investing with a margin of safety.

Free online

About this guide

General guidance for students, reviewed on the date above. Recruiting dates, visa rules and certification requirements change: always check with the firm or the official source. Not career, legal or immigration advice.