Joining IAC
The fall 2025 analyst application is now closed. Our next recruiting cycle will take place in spring quarter 2025.
For questions regarding applications and the recruitment process, please see FAQs below or email iac@as.ucsb.edu
Application FAQs
What is expected of an IAC analyst?
Every member joins IAC as an analyst. Analysts are not expected to know how to do everything upon admission, which is why we train new members. Analyst duties fall into three main categories :
1. Attending meetings: IAC meets every week on Wednesdays at 8pm. All analysts must attend each meeting, with up to 2 absences permitted per quarter.
2. Coverage: Every analyst covers one of their group’s holdings, meaning they keep track of relevant news, press releases, earnings, maintain coverage notes, and initiate further investigation by the group if the position becomes actionable (sell, buy more, etc.)
3. Pitches: Each quarter each group creates a pitch to buy and/or sell an investment. Analysts contribute to the pitch through conducting research, creating slides, and building valuation models at the direction of the portfolio manager.
What is IAC’s recruiting process?
We accept analyst applications at the beginning of fall and spring quarter. The interview process consists of two interviews with members of the executive board. Interviews include behavioral and technical questions as well as defense of the applicant’s stock pitch.
What do we look for in candidates?
We welcome applications from all years (including underclassmen) and academic backgrounds (you do not need to be an Economics, Econ & Accounting, or Financial Math major). Prior finance-related experience or advanced technical knowledge is not required, however we put more emphasis on these areas when evaluating junior or senior candidates. We seek candidates who are curious and passionate about finance and investing, able to learn rapidly, and well-suited for work in a team environment.
How can I prepare for interviews?
We have assembled a study guide for candidates to help in their interview preparation, which you can access here.
If admitted, which group will I join?
We ask prospective members to rank their group preference upon admission. Group assignments are determined by member preference, individual group need for analysts, and the discretion of the group leader (portfolio manager). Analysts are able to switch groups in later quarters if they wish.
I applied in a past cycle, can I apply again?
Admission to IAC is selective, and we encourage candidates to apply again if they remain interested. Many of our members and leaders applied more than once before being admitted.