Jefferies — Equity Research Associate

Graduate Programme · Equity Research

Status

Listed

Location

London

Level

Graduate

Deadline

Not published

Status checked against the firm's careers feed — last synced 9 October 2026.

Key details

Deadline: Not published by the firm; treat the role as rolling and apply early.
Cover letter: Required — see our Cover Letter Studio.
Visa sponsorship: Not listed as available for this programme. Employers often sponsor on some programmes and not others, so check the listing rather than ruling the employer out.
Process: App→Sector Test→Final

How to prepare for this one

Graduate and full-time processes assume more polish than internship rounds: technicals, live case discussion, and a crisp story about why this desk.

A row of seven identical desks marked all the same from here. Lev stands beside the one with a small flag planted on it, marked why this one, holding an open folder marked live case. — Every desk looks alike from outside. The graduate round asks why you planted a flag on one.

Practise it, don't just read it

Free, no sign-up, and short enough to finish before you submit.

Biotech Readout12 minValue a biotech before its lead trial reads out: the probability of reaching the market, the programme’s rNPV, the shares on success and on failure, and the odds the price implies.Options Payoff Lab8 minThe four single-leg option positions at expiry, drawn as two lines rather than one: what the contract settles for, and what it settles for after the premium. Move the strike, the premium or the share price and watch breakeven, maximum gain and maximum loss follow.

Build the model this seat is tested on

A working Excel model with live formulas. Work with it online free: change the inputs and watch it recalculate. A free account also takes the starter workbook to build yourself.

Discounted cash flow model40 minUnlevered free cash flow to a share price Comparable companies model35 minCalendarised, LTM, trading and transaction multiples

Browse all 19 models

Walk in with something

Each of these produces a piece of work an interviewer at Jefferies can ask you about. Free to run as a preview; Pro runs the full version on the stronger engine.

Earnings TeardownFreeOne-page earnings delta memo + questions listAbout 25 min of your time Stock Pitch BuilderFreePitch architecture: thesis, variant view, valuation, catalysts, risksAbout 45 min of your time Comps Set BuilderFreeComps universe table + inclusion rationaleAbout 30 min of your time

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Before you send it

Jefferies screens on the document, not the intention. Suro reads your CV the way the screener will and writes back in the margin: structure, whether the bullets carry evidence, and whether it survives the parser. Back within 48 hours.

CV review, $25

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