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Wall Street Prep

Sell-Side Equity Research Certification (ERC©)

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Wall Street Prep Certification Program

Sell-Side
Equity Research Certification (ERC©)

  •   9 Courses
  •   25h 31m
  •   1,124 Students

Wall Street Prep’s globally recognized and comprehensive masterclass to everything you need to know to succeed in Sell-Side Equity Research

Earn a Verified Certification

Shareable on LinkedIn and Recognized by Employers

Earn 28.5 CPE Credits

The ERC is a NASBA-registered continuing professional education program

Globally Recognized

Used by the world’s leading financial institutions to train research associates and analysts

Major Skills Covered

Comprehensive Training for the Sell-Side Equity Research Role

Learn Directly From Sell-Side Practitioners

This program is for those who are currently pursuing or are new to the sell-side equity research role. Guided step-by-step by experienced sell-side analysts, you'll be immersed in the sell-side equity research role. Learn to construct and maintain a "sell-side model" and write research reports and notes, as you would on the job.

Go Beyond the Sell-Side Earnings Model

In addition to step-by-step technical skills, you'll go through the thesis development process and gain an understanding of how to create a product that is consumed and valued by other functions of the bank, including capital markets and sales & trading, as well as by buy side investors.

Sell-Side Equity Research Certificate

The ERC© is derived from the sell-side research training program delivered onsite at the world's leading investment banks

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Your Path to Certification

This Sell-Side Equity Research course covers essential skills from equity research basics to advanced financial modeling, valuation techniques and report writing. Each module is designed to build comprehensive expertise in equity research.

Recommended Path

1. Equity Research Processes Week 1
2. Financial Statement Analysis Week 1
3. Investment Thesis and Due Diligence Week 2
4. Writing Equity Research Reports Week 3
5. Financial Statement Modeling Week 4
6. Relative Valuation - Trading Comps Week 5
7. Instrinsic Valuation - DCF Week 5
8. Soft Skills in Equity Research Week 6
9. Career Applicant Resources Week 6

Complete in 30 Hours

The ERC© is a job-focused program that drills down on what sell-side equity research professionals need to know while cutting out the rest. Average completion time (coursework + exam) is 30 hours.

Skills of a Top Research Analyst:

  • Depth in financial statement analysis

    Covered
  • Strong financial modeling

    Covered
  • Research and market analysis

    Covered
  • Detailed report writing

    Covered
  • Communication and presentation techniques

    Covered

What's Included

13 Lessons
1h 15m

ERC© 1: Equity Research Process

 13 Lessons  1h 15m

Module 1 of the Sell-side Equity Research Certification (ERC©) provides an overview of the equity research business and career. Students will learn how research fits into the investment banking industry, what a typical day for the equity researcher looks like, the coverage and initiation processes, among many other things

Module 1 of the Sell-side Equity Research Certification (ERC©) provides an overview of the equity research business and career. Students will learn how research fits into the investment banking indust ...

Module 1 of the Sell-side Equity Research Certification (ERC©) provides an overview of the equity re ...

1
View Course TOC
38 Lessons
3h 26m

ERC© 2: Financial Statement Analysis

 38 Lessons  3h 26m

Module 2 of the Sell-side Equity Research Certification (ERC©) dives deep into how to analyze the three key financial statements. Here, we’ll learn about key metrics and ratios that can provide insights into how a company is performing, as well as how the financial statements connect to each other to provide a holistic view of the company’s financi ...

Module 2 of the Sell-side Equity Research Certification (ERC©) dives deep into how to analyze the three key financial statements. Here, we’ll learn about key metrics and ratios that can provide insigh ...

Module 2 of the Sell-side Equity Research Certification (ERC©) dives deep into how to analyze the th ...

2
View Course TOC
30 Lessons
2h 58m

ERC© 3: Thesis and Due Diligence

 30 Lessons  2h 58m

Module 3 of the Sell-side Equity Research Certification (ERC©) addresses one of the most important responsibilities of an equity researcher: building an investment thesis from the ground up. Students will learn about the pillars of a strong thesis and how to navigate the whole process that ranges from learning about the business fundamentals to hav ...

Module 3 of the Sell-side Equity Research Certification (ERC©) addresses one of the most important responsibilities of an equity researcher: building an investment thesis from the ground up. Students ...

Module 3 of the Sell-side Equity Research Certification (ERC©) addresses one of the most important r ...

3
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38 Lessons
2h 55m

ERC© 4: Writing Research Reports

 38 Lessons  2h 55m

Module 4 of the Sell-side Equity Research Certification (ERC©) begins by exploring the types of research reports and how they fit into the earnings cycle. We’ll look closely at the anatomy of a report, identifying key sections and their purposes using real-life examples. Students will learn about writing best practices and be ready to build their o ...

Module 4 of the Sell-side Equity Research Certification (ERC©) begins by exploring the types of research reports and how they fit into the earnings cycle. We’ll look closely at the anatomy of a report ...

Module 4 of the Sell-side Equity Research Certification (ERC©) begins by exploring the types of rese ...

4
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111 Lessons
9h 21m

ERC© 5: Financial Statement Modeling

 111 Lessons  9h 21m

Module 5 of the Sell-side Equity Research Certification (ERC©) is about building an entire equity research-specific, three-statement model starting from a simple Excel template and using it as a tool to support the investmen thesis. Students will learn about historical data and how to source it; consensus-based projections; variant-view projections ...

Module 5 of the Sell-side Equity Research Certification (ERC©) is about building an entire equity research-specific, three-statement model starting from a simple Excel template and using it as a tool ...

Module 5 of the Sell-side Equity Research Certification (ERC©) is about building an entire equity re ...

5
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21 Lessons
1h 32m

ERC© 6: Relative Valuation

 21 Lessons  1h 32m

Module 6 of the Sell-side Equity Research Certification (ERC©) dives deep into the art and science of valuing a company and stock using the relative valuation method. We’ll focus on how to best use comps or multiples, exploring the fundamental reasons why a stock may trade at a rich or a discounted price.

Module 6 of the Sell-side Equity Research Certification (ERC©) dives deep into the art and science of valuing a company and stock using the relative valuation method. We’ll focus on how to best use co ...

Module 6 of the Sell-side Equity Research Certification (ERC©) dives deep into the art and science o ...

6
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30 Lessons
2h 5m

ERC© 7: Intrinsic Valuation

 30 Lessons  2h 5m

Module 7 of the Sell-side Equity Research Certification (ERC©) shifts gears to discounted cash flow, or DCF. Student’s will start with the basics of time value of money, then quickly progress to more advanced topics like weighted average cost of capital (WACC) and a discussion about the most impactful drivers of value in DCF analysis.

Module 7 of the Sell-side Equity Research Certification (ERC©) shifts gears to discounted cash flow, or DCF. Student’s will start with the basics of time value of money, then quickly progress to more ...

Module 7 of the Sell-side Equity Research Certification (ERC©) shifts gears to discounted cash flow, ...

7
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15 Lessons
1h 0m

ERC© 8: Professional Soft Skills

 15 Lessons  1h 0m

Module 8 of the Sell-side Equity Research Certification (ERC™) addresses the crucial, yet underappreciated topic of soft skills in equity research. Here, we’ll explain what it means to act professionally in a banking environment; the importance of the analyst-associate relationship; dealing with stress in the office and the long hours that are ofte ...

Module 8 of the Sell-side Equity Research Certification (ERC™) addresses the crucial, yet underappreciated topic of soft skills in equity research. Here, we’ll explain what it means to act professiona ...

Module 8 of the Sell-side Equity Research Certification (ERC™) addresses the crucial, yet underappre ...

8
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12 Lessons
0h 59m

ERC© Bonus: Breaking Into Research

 12 Lessons  0h 59m

Breaking into equity research can be very hard, but an aspiring ER professional can gain an advantage by using the right tools and strategies. In this bonus module, we’ll see how an “application package” and the most effective LinkedIn tactics can help a college/MBA graduate or career switcher land a desirable job in equity research.

Breaking into equity research can be very hard, but an aspiring ER professional can gain an advantage by using the right tools and strategies. In this bonus module, we’ll see how an “application packa ...

Breaking into equity research can be very hard, but an aspiring ER professional can gain an advantag ...

9
View Course TOC

Course Samples

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Sectors and Coverage Universes
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Investment Thesis: Introduction
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Introduction to Retained Earnings: Setup
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Apple Comps Sheet Exercise: Solution and Discussion, Peer Gr...
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Apple DCF Model: Stage 2, Perpetuity Approach
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Writing a Strong Resume: 5 General Tips

Earn the Sell-Side Equity Research Certification

All learners are eligible to earn Wall Street Prep's globally recognized Sell-Side Equity Research Certification (ERC©). The certification is earned by successfully completing the final exam from each of the program's 8 core modules. These online assessments can be taken any time after enrollment in the program.

Earn CPE Credits with WSP Online Courses

Wall Street Prep is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The Wall Street Prep Quicklesson Series

7 Free Financial Modeling Lessons

Get instant access to video lessons taught by experienced investment bankers. Learn financial statement modeling, DCF, M&A, LBO, Comps and Excel shortcuts.