Research Analyst I

Fidelity; Boston (MA); On-site; USD 205,000 - 215,000; Full time

Job summary

Fidelity Investments in Boston seeks a Research Analyst I to perform fundamental equity research on a 25+ stock coverage universe and develop actionable investment ideas. You will build three-statement models, conduct company due diligence with management teams, and present recommendations to portfolio managers with different mandates.

The role emphasizes collaboration with data scientists and ongoing monitoring of investments, contributing to investment performance in a full-time onsite setting.

Qualifications

• Bachelor’s degree and 3 years’ experience as a Research Analyst I in a financial services environment.
• Or Master’s degree in Business/Finance with no experience.
• Strong financial statement analysis and due diligence skills.

Responsibilities

• Performs fundamental equity research on a coverage universe and provides investment ideas.
• Develops analysis by reviewing filings and meeting with company management teams and competitors.
• Generates three-statement financial models and applies valuation analyses (DCF, comparables).
• Presents buy/sell recommendations to portfolio managers.
• Monitors existing investments and updates investment theses as needed.
• Collaborates with data scientists to use alternative data sources.

Skills

Equity research

Financial modeling

Valuation analysis

Management interviews

Excel

FactSet

Bloomberg

Education

Bachelor’s degree in Business/Finance

Master’s degree in Business/Finance (optional)

Tools

FactSet

Bloomberg

Excel

Job description

Investment Management

Research Analyst I

Fidelity is transitioning to a full-time onsite working model in phases by region and role. See job description for more information.

Onsite

Location

• Boston, MA

Team

• Investment Management

Experience Level

Vice President

Note: Fidelity will not provide immigration sponsorship for this position.

Position Description:

Performs fundamental equity research and analysis on assigned coverage of 25+ stocks to identify actionable buy and sell stock recommendations. Conducts assessments of companies through comprehensive, company-specific due diligence, including financial statement analysis, meetings with company management teams, interviews with industry experts, and other proprietary research projects. Creates detailed financial projections and develops valuation analyses on stocks to formulate investment recommendations. Presents industry insights and stock recommendations directly to portfolio managers with applicable investment mandates and styles. Monitors existing investments and provides timely updates on any changes in views for the covered stocks and the industry.

Primary Responsibilities:

• Performs fundamental equity research on a coverage universe, providing investment ideas for the portfolios and contributing to investment performance.
• Develops analysis on covered companies and their respective industries by examining company filings and meeting with management teams of covered companies and their applicable competitors, suppliers, and customers.
• Generates differentiated research insights by developing a network of industry professionals and conducting channel checks.
• Collaborates with data scientists to utilize alternative data sources and analyzing key performance indicators to identify trends and inflections in business fundamentals.
• Creates company-specific three-statement financial models that quantify research insights and applies the appropriate valuation methodology supported by historical valuation, discounted cash flow (DCF), and comparable company analyses.
• Develops investment theses supported by in-depth research and data and formalizes in written deliverables.
• Presents buy/sell recommendations strategically aligned with the specific investment philosophies of different portfolio managers.
• Monitors existing investments and provides timely updates on changes in investment theses.
• Constructs and monitors a model portfolio as a tool to signal nuanced changes in views on covered stocks to portfolio managers.

Education and Experience:

Bachelor’s degree in Business Administration, Quantitative Finance, Financial Economics, or a closely related field (or foreign education equivalent) and three (3) years of experience as a Research Analyst I (or closely related occupation) performing business review and analysis, developing financial statement analysis, and providing actionable investment recommendations in a financial services environment.

Or, alternatively, Master’s degree in Business Administration, Quantitative Finance, Financial Economics, or a closely related field (or foreign education equivalent) and no experience.

Skills and Knowledge:

• Demonstrated Expertise (“DE”) conducting qualitative company and industry review and analysis by identifying key company partners and relevant industry participants; and structuring targeted interviews to form holistic views and nuanced judgments on business models, management quality, competitive moats, and industry structure.
• DE building full three-statement financial models with analysis and key drivers customized to unique business structures, converting insights into quantified forecasts, using Excel, FactSet, and Bloomberg.
• DE deriving the appropriate valuation frameworks for stocks by leveraging technical drivers of stock price movement, assessing market expectations, and performing robust valuation analyses (DCF, historical valuation, and comparable valuation) using Excel, FactSet, and Bloomberg.
• DE performing investment thesis generation and communication, evidenced by publishing research reports, and recommending actionable buy and sell ideas tailored to the specific investment styles of portfolio managers.

[Expertise may be gained during graduate program.]

Salary: $205,000.00 to $215,000.00/year.

#PE1M2

#LI-DNI

Fidelity’s Onsite Working Model
Fidelity is transitioning to a full-time onsite working model through a phased rollout across regions and roles. Currently, some roles and locations require 100% onsite presence, while others require less. Onsite expectations are likely to evolve as the rollout continues. This transition does not apply to fully remote roles.

Category:

Investment Professionals

Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.

Benefits that balance life and work

From our fully paid parent leave to our on-site health and wellness centers, our benefits support the belief that more balance you have, the better you can achieve your goals.

Company overview

Company overview

At Fidelity, we are passionate about making our financial expertise broadly accessible and effective in helping people live the lives they want. We are a privately held company that places a high degree of value in creating and nurturing a work environment that attracts the best talent and reflects our commitment to our associates. We are proud of our diverse and inclusive workplace where we respect and value our associates for their unique perspectives and experience.

Reasonable accommodations

Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation contact the HR Accommodation Team by sending an email to [e-mail], or by calling 800-835-5099, prompt 2, option 3.

Equal opportunity employer

Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop, and retain a diverse workforce is to build an enduring culture of inclusion and belonging.

Applicant screening

At Fidelity, we value honesty, integrity, and the safety of our associates and customers within a heavily regulated industry. Certain roles may require candidates to go through a preliminary credit check during the screening process. Candidates who are presented with a Fidelity offer will need to go through a background investigation and may be asked to provide additional documentation as requested. This investigation includes but is not limited to a criminal, civil litigations and regulatory review, employment, education, and credit review (role dependent). These investigations will account for 7 years or more of history, depending on the role. Where permitted by federal or state law, Fidelity will also conduct a pre-employment drug screen, which will review for the following substances: Amphetamines, THC (marijuana), cocaine, opiates, phencyclidine.

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