Internship Pathway · 2025

Student Stock Pick Competition

Pitch a US or European listed stock to enter our $5,000 stock pitch competition. The winner receives a paid internship with 5AM Capital.

SydneyBrisbaneRemote-friendly

Real-World Investing

Pitch a listed company you believe can compound value. We look for clear thinking, evidence-based reasoning and sensible risk assessment.

Career Fast-Track

High-scoring entrants will be prioritised for interviews for our student internship program and ongoing analyst opportunities.

Flexible & Remote

Based in Sydney and Brisbane with hybrid and remote options available depending on your study schedule and location.

What We Look For

Our Philosophy & Your Pitch


Our Investment Philosophy

We invest like long-term business owners. We look for scarce, high-quality businesses with durable moats that can compound free cash flow over many years. We favour disciplined capital allocation, strong unit economics and aligned management teams.

What This Means for Your Pitch

  • Explain the moat and why it endures
  • Show the cash engine: conversion, reinvestment runway, incremental returns
  • Value it sensibly with clear assumptions and a balanced risk view
  • Keep it professional, concise, and evidence-based
Process

How It Works


  1. 1

    Apply

    Tell us about yourself so we can understand your background and interests.

  2. 2

    Submit

    Share a concise thesis covering business quality, moat, unit economics, valuation and risks.

  3. 3

    Interview

    Selected students discuss their thesis and investing approach with the team.

  4. 4

    Win

    Top entries recognised. Standout candidates progress to internship offers.

Aim for clarity over length. Link to sources where relevant and state assumptions explicitly.
The Opportunity

What You'll Do & Who Judges


As an Intern

  • Join weekly idea reviews with the investment team
  • Research coverage names; build DCFs and peer comps
  • Write concise 1–2 page memos with clear assumptions and risks
  • Support deep dives on moats, unit economics and reinvestment runway

Judging Panel

Sam Chipkin
Sam Chipkin
Founder & CIO
Tom Perfrement
Tom Perfrement
Investment Principal

We assess clarity, evidence and owner-mindset thinking anchored in our philosophy.

What We're Looking For

  • Understanding of a company's business model & moat
  • Sensible, evidence-based valuation
  • Clear articulation of key risks
  • Balanced use of data, primary research and independent thinking
  • Quality writing: structured, concise, professional

Eligibility

  • Currently enrolled university student (undergrad or postgrad)
  • Open to all degrees and year levels
  • Individual entries only
  • International students studying in Australia welcome
  • Idea must be US or Europe listed
Key Details

Dates, Prizes & Pathway


Key Dates

  • Applications open: Now
  • Submissions close: 11:59 pm AEDT, 31 Oct 2025
  • Interviews: Rolling
We review on a rolling basis — earlier is better.
Closes 31 Oct 2025

Prizes & Pathway

  • $1,000 cash prize for the winning pitch
  • Paid internship (~20 business days, ~$4,000)
  • Finalist experience: 15-min pitch + 15-min Q&A
  • Certificate of achievement and written reference
Figures are indicative; internship subject to eligibility.

Why 5AM?

  • Quality-first fundamental investing
  • Hands-on exposure to real research
  • Flexible/remote friendly
  • Direct mentorship from the investment team
Siddesh
"

Participating in the 5AM Capital stock pitch was an incredible experience. It provided valuable insights into how professionals evaluate stocks and what truly defines a strong investment. During my internship I had the opportunity to create a framework measuring the impact of leadership and culture on long-term growth. What stood out most was the perfect balance of freedom and guidance — warm, collaborative and growth-oriented.

Siddesh — 2024 Winner & 2025 5AM Capital Intern
Questions

Frequently Asked Questions


Stuck choosing a company?

If you're having trouble picking an idea, we can share a few example names on request to help you get started.

What format should my stock thesis be in?

Short memo or slide deck is ideal (PDF or link). Focus on business quality, moat, unit economics, valuation and risks. Clarity beats volume.

Do I need prior investing experience?

No. We value structured thinking, curiosity and integrity over prior roles.

Is the internship paid and can it be remote?

Yes, internships are paid. We offer flexible arrangements (hybrid/remote) depending on location and university commitments.

Can I submit a second idea?

Please submit your best idea first. If shortlisted, we may ask for a second idea or a variant.

When will I hear back?

We review entries on a rolling basis and aim to respond within 2–3 weeks.

Ready to Apply?

Submit your application or stock pick below.

Questions? Email tom@5amcapital.com.au