From ILR to investment research: Spotlight on Grace Ogden ’22
Cayuga Fund undergraduate students in front of Sage Hall in 2022. Grace Ogden is in the front row, second from right.
After landing a coveted position with Cornell University’s student-managed investment portfolio during her senior year, Grace Ogden ’22 put herself on a new professional path: investment research. Four years after her work on the Cayuga Fund, she’s in a fast-paced buy‑side role at Penn Mutual Asset Management, where she does credit research with direct involvement in trade activity.
Here, Ogden shares her experience and how it launched a career she didn’t expect.
Choosing Cornell and Industrial and Labor Relations
Ogden began her college career at Villanova University but soon realized she wanted a more diverse and flexible academic experience. This led her to Cornell University’s Industrial and Labor Relations (ILR) program, which fit well with her interests in business, economics, global affairs, politics and labor relations.
The program’s wide range of classes in history, politics and labor law complemented Ogden’s advanced coursework in investment research and economics — a combination that would prepare her well for the field she wanted to pursue: investment banking.
Discovering investment research and the Cayuga Fund
After a peer and close friend encouraged Ogden to explore investment research, she was introduced to the Parker Center for Investment Research and the Cayuga Fund, which started in 1998 and as of March had more than 700 alumni — 76 of whom were undergraduates. Exploring the program, she discovered another side of finance that aligned well with her ILR studies.
Ogden took NBA 4120, Equity Investment Research and Analysis, a prerequisite for the Cayuga Fund, during the fall semester of her junior year, then applied to the Cayuga Fund in the spring, earning a spot the following fall as an undergraduate research associate. As a member of the fund, she gained hands-on experience in equity research and appreciated the field’s fast-paced nature and the opportunity to pick stocks, attend investment committee meetings and discuss market trends.
Post-graduate career path
After graduating, Ogden began her career at Barclays in New York City, where she worked in investment-grade credit research with a focus on energy and pipeline companies. In this role, she did a lot of client-facing work, writing research reports and providing data and insights to help clients make informed decisions.
Recently, Ogden transitioned to a new firm, Penn Mutual Asset Management, where she enjoys the fast paced and dynamic nature of credit research.
Enjoyment and challenges in investment research
In her post-graduate career, Ogden appreciates the varied nature of analysis that comes with investment research, particularly the chance to look across different sectors and companies, understand what drives their performance, and see how they function in different business environments. Given the performance-driven nature of the investment research function, she makes it a priority to ensure that her analysis is accurate, detailed and well-thought-out.
One standout experience was attending a Boeing conference, which gave her exposure to the aerospace industry and a behind the scenes look at the manufacturing process. Being able to see production firsthand helped her better understand the industry’s dynamics and its importance to the United States.
Ogden’s experience at Cornell and on the Cayuga Fund highlights how curiosity and hands on learning can shape a meaningful career in investment research. For students interested in investment research careers, Ogden stresses the importance of digging deeper — going beyond surface level information and analyzing company reports to gain a more complete understanding of companies and the industries in which they operate.
Ogden encourages students to take advantage of the opportunities Cornell offers — programs, the student-managed fund and conferences, to name a few — to gain practical experience and explore different roles in the asset management industry.
Ogden believes that staying open, asking questions and actively engaging with real world opportunities can make a big difference in forging a successful career in investment research.
About the author
Emily Ravet is a center coordinator at the Parker Center for Investment Research in the Cornell SC Johnson College of Business. Prior to working at Cornell, she was a program assistant in the evening and executive MBA programs at the Wisconsin School of Business at the University of Wisconsin-Madison. Ravet obtained a bachelor’s degree in journalism from the University of Wisconsin-Madison.