Tips for succeeding in the investment industry from Laurier alumnus and CEO Dennis Mitchell

According to Dennis Mitchell (BBA ’98), “intellectual curiosity and a healthy skepticism” are the keys to success in the investment industry. And he should know. With nearly 20 years of experience, Mitchell is at the top of his field. He is the chief executive officer and chief investment officer at Starlight Capital, an asset management firm in Toronto.

Mitchell graduated from Wilfrid Laurier University in 1998 with a Bachelor of Business Administration degree and has thoughtful advice to offer current Golden Hawks who may be considering a career in asset management. Here are Mitchell’s top tips for breaking into the investment industry:

Read about investing

“The best thing a young business student can do is read as many books about investing as possible, such as Buffettology, Common Stocks and Uncommon Profits and The Intelligent Investor. By reading about various investment styles and philosophies, you will get an idea about what type of investor you are. That will increase your probability of being hired at that type of firm.”

Maximize your co-op experience

“Laurier’s co-op program served me well and launched me into my financial services career. It gave me a chance to get in front of companies in the industry. I didn’t look like the typical candidate they might hire, but the fact that I was a Laurier co-op student allowed me to leverage the program’s credibility.”

Maintain your alumni connections

“One of the challenges with breaking into Bay Street is that I would say 70 to 80 per cent of recruiting is done through personal networks. Having a Laurier alumni network helped me secure introductions to people who might be hiring. You’ve got to be able to break into these tight networks and Laurier helps with that.”

Meet with professionals you admire (but not CEOs)

“It's important to go and speak to people who are doing the job that you want and that you would be qualified for. Understand their path, the expertise they required, the experience they needed, and tap into their networks. But network across as opposed to trying to network up. Do not reach out to guys like me and say how much you love my career path and ask if I have 15 minutes for a coffee. I am happy to speak at events because I can speak to 100 students at once. But one on one over coffee – I just don’t have the time. Conversely, the stories of the analysts that work on my team are more relevant for current Laurier students. They are usually happy to share their stories and they will appreciate the free coffee!”

Research companies before applying

“You won't find a ton of portfolio manager jobs posted because people tend to hire candidates they already know or recruit from their alma mater. But a trick is to follow which companies are generating positive net sales because those are usually the companies adding headcount. Speak to research analysts and investment analysts to find out which firms are doing well.”

Be persistent

“I spent six years trying to break into the business. They finally relented and let me in. If you hang around long enough, you are going to get in. We appreciate perseverance in this industry.”