http://www.alger.com

Fred Alger Management

Summer Research Associate

June - August 2021 • New York City, NY

What I liked

Alger gives interns a lot of responsibilities and learning opportunities. During this internship, you will learn how to build comprehensive DCFs, financial models, TAM estimates, in-depth competitive analysis...etc. All of your work is relevant and important to the analysts you work under. Anecdote: There was one week I had to wrap up three projects at once: 1) Investment report on Affirm 2) Clarivate final portfolio pitch 3) Luxury design furniture market research for Restoration Hardware. During that time I gained a comprehensive overview of the Buy-now-pay-later industry, learned how to build a DCF, and identified new global trends for luxury furniture. If you come to Alger, you will grow as an investor. Comp is decent if you account for overtime.

What I wish was different

Overall, I had a really great experience, and a big shoutout to Chad for coordinating and checking in with me and the other interns. It made a big difference.

Advice

Alger is a competitive boutique that is top-heavy due to turnover among younger analysts, which is typical of most top buy-side investment firms. That being said, you want to put your best foot forward focus on quality over quantity. For example, if you have too much on your plate, tell your intern manager that. They will definitely understand and give you less work. Never forget to dot your i's and cross your t's. I made mistakes but working at Alger has definitely improved the quality of my investment research.
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