A blog for undergraduates and young bankers – cover letters, resume writing and interviewing skills, just for investment banks.
Thursday, August 30, 2007
The Best Investment Banks – top entry level hires
Collegegrad.com is a website dedicated for college students and recent grads. They have a list of Top Entry Level Employers for 2007. Employers are ranked according to their projected number of 2007 entry level hires.
Here are the investment banks on the list and their projected 2007 hires.
Bank of America – 2,500
UBS – 1,500
Morgan Stanley – 600
Lehman Brothers – 400
See the full list
You would notice that BoA, UBS, MS and Lehman all enjoy high ranking in almost any poll. If you want to start an investment banking career, you do worth investing some time visiting their career sites. You can find them on the right hand side of this blog.
Recommended career tools:
Amazing Resume Creator
A DIY resume is good enough for an entry level job. Investment bankers always want the best out of the best. To stand out from the crowd, get Jimmy Sweeney’s help to craft a best resume for yourself.
Amazing Cover Letter
A powerful cover letter is the perfect partner of your resume. Personalize and customize your amazing cover letter with Jimmy Sweeney’s help.
Best Investment Banks
Monday, August 27, 2007
The Best Investment Banks – top MBA employers
Fortune 2007 - 100 top MBA employers
3 Goldman Sachs
10 Bank of America
11 Citi
12 Morgan stanley
15 Lehman Brothers
19 Merrill Lynch
21 JPMorgan
38 Deutsche Bank
39 UBS
43 Fidelity
45 JPM Chase
46 Bear Stearn
47 Barclays Capital
55 Credit Suisse
72 Wachovia
84 HSBC
Fortune 2007 - 100 top MBA employers – Full List & Methodology
Compare with Business Week’s poll of Best Places to Launch a Career, you’ll notice that Goldman Sachs has a high ranking in both polls. Citi being ranked as the Global Best Investment Bank by Global Finance, also enjoys high ranking in the MBA students’ poll.
I am sure you must want to dive into the career sites of these best investment banks and see if there are opportunities for yourself. Before we do so, we’ll look at another desired employer tomorrow.
Recommended career tools:
Amazing Resume Creator
a DIY resume is good enough for an entry level job. Investment bankers always want the best out of the best. To stand out from the crowd, get Jimmy Sweeney’s help to craft a best resume for yourself.
Amazing Cover Letter
A powerful cover letter is the perfect partner of your resume. Personalize and customize your amazing cover letter with Jimmy Sweeney’s help.
Best Investment Banks
Sunday, August 26, 2007
The Best Investment Banks – to launch a career
Business Week has a poll called BEST PLACES TO LAUNCH A CAREER. Of course it is not easy to determine who the best employers are for entry-level workers.
Methodologies & 2006 rankings
Best Investment Banks to Launch a Career
For the interest of my readers, I’m only interested to find out who are the best investment banks for entry-level bankers. Among the top 30, there are three investment banks, namely:
Rank 4: Goldman Sachs
2005 Entry Level Hires: 615
Average Pay: $55,000 and above
Rank 9: JPMorgan
2005 Entry Level Hires: 249
Average Pay: $55,000 and above
Rank 22: Lehman Brothers
2005 Entry Level Hires: 400
Average Pay: $55,000 and above
If you want to visit these best investment banks career sites, you can find them on the right hand side of this blog.
Tomorrow, we'll look at another best employers poll.
Recommended career tools:
Amazing Resume Creator
a DIY resume is good enough for an entry level job. Investment bankers always want the best out of the best. To stand out from the crowd, get Jimmy Sweeney’s help to craft a best resume for yourself.
Amazing Cover Letter
A powerful cover letter is the perfect partner of your resume. Personalize and customize your amazing cover letter with Jimmy Sweeney’s help.
Best Investment Banks
Thursday, August 16, 2007
How to Choose the Best Investment Banks – Be Selective
Select 10 best investment banks. One of the most popular questions during interview is ‘how many other banks have you approached or had an interview?’ Tell the interviewer how and why you’ve selected their banks. Successful investment bankers make lots of money, but please do give some other good reasons.
Opportunities
Few people stay with their first employer for 19 years like Anthony Leung did. However if the company you work for provides good training and opportunities for graduates, you will just stay there naturally. I’ll elaborate this further when I talk about Anthony Leung in my later posts.
Opportunities relate to size. If a bank is big enough, there are opportunities everywhere. However make sure these opportunities are what you want. Like if you fancy M&A, please target Goldman. If you fancy equities, you might want to target ML.
Training
Graduates need training and mentoring. Try to schedule some informational interviews through your alumni network. See which bank has the highest score while you ask about training and mentoring. Also try to schedule informational interviews with some senior bankers through recruitment fairs or direct approach. If time allows, many of them were happy to share their experience with young people of how they built their career. It would be an advantage if you come from a same university. Over the internet, you can collect the bios of many senior bankers and it is easy to find out where they graduated from.
Culture
This is an important issue and sometimes a determining issue. As a headhunter, I’ve witnessed some outstanding candidates didn’t receive/accept an offer due to cultural issues. Investment bankers spend more than half of their time at work, make sure to find a place you feel happy and comfortable. During an interview, do spend a good amount of time in finding out if the work culture of the bank suits you.
How to choose an investment bank?
eFinancial Careers Australia recently published an article for students who want to start an investment banking career. Though it is Australia focused, it is quite universal in terms of strategies. I would recommend your reading it.
Recommended career tools:
Amazing Resume Creator
a DIY resume is good enough for an entry level job. Investment bankers always want the best out of the best. To stand out from the crowd, get Jimmy Sweeney’s help to craft a best resume for yourself.
Amazing Cover Letter
A powerful cover letter is the perfect partner of your resume. Personalize and customize your amazing cover letter with Jimmy Sweeney’s help.
Best Investment Banks
Tuesday, August 14, 2007
Best Investment Banks - in terms of career
As we are in the investment banking field, it won’t work against us if we know who the best players in the market are. So let’s talk about who are the best investment banks before we go on to talk about who are the best employers for graduates.
There are polls of all kind, such as 30 under 30 traders, 100 rising stars, top 10 employers and so on. Each year, various financial media run their own polls and many of them on investment banks. While Euromoney, AsiaMoney and some others only reveal their results to paid subscribers, Global Finance publishes its full list free of charge.
Global Finance’s 2007 Short List
Global
Best Investment Bank: Citi
Best Equity Bank: Merrill Lynch
Best Debt Bank: Citi
Best M&A Bank: Goldman
Best Private Equity: Kohlberg Kravis Roberts
Regional
Best Investment Bank in Asia: Citi
Best Investment Bank in North America: Citi
Best Investment Bank in Western Europe: Deutsche Bank
Best Investment Bank in Latin America: Citi
Check Global Finance 2007 full list and their methodology
Quote from Global Finance
“We have identified the banks that the best companies choose to get things done,” said Global Finance publisher Joseph D. Giarraputo. “We’re not just picking the biggest; we’re choosing the best, based on profitability, financial strength, as well as quality of staff dedicated to investment banking.”
Hedge Fund
Euromoney rank Citadel the best hedge fund house in 2007. Global Finance does not rank hedge funds.
Conclusion
When you browse through different polls, you’ll notice similar names like Citi, Goldman, ML, KKR keep appearing. Obviously they are the top players in the market. We will continue to see if these best investment banks are the best places for graduates to start a career.
Best Investment Banks
Thursday, August 2, 2007
Craft Your Own Sample Resume – Investment Banking
Let’s go back to 1993 when Henry was just graduated from MIT with his dual degrees in Science and Management. With such qualifications, he was likely to outperform any other candidates. But that’s not enough. Investment banking is a matter of human relations and networking. Therefore, you should also list your extra curricular activities to demonstrate your people skills.
While nowadays Henry doesn’t need these to appear on his resume, he is reluctant to write his list. I have therefore borrowed my niece’s instead. Actually I have shortened the list by half. Isn’t it amazing that a young person can do that many things while studying full time? If you’ve read Margaret Thatcher’s autobiography, my niece was actually quite lazy.
Make sure you keep a good record of yourself and be selective of what to include in your sample resume. List activities that are people-oriented and with team spirit. If you play football and swimming, list football. If you won a photography competition and a debating competition, list the debating award.
When writing a resume for your first full time job, make sure to include your internship experience. Hiring managers always want people with a well-rounded personality and a good balance of life.
Your Sample Resume
If you have 0 to three years of experience, make sure to write in this sequence:
1. Name, contact phone and email
2. Education: degree, university, city and country
3. Activities and achievements: select people-oriented items
4. Work experiences
5. Any other information, hobbies or skills that are useful to your application
Length: limit to one page
Let’s expand it and use Henry’s and my niece’s data to craft a new sample resume.
YOUR NAME
Phone: +81-90-1234-5678 Email: henryhunter@email.com
EDUCATION
1993 Bachelors in Computer Science / Bachelors in Management - MIT, Cambridge, MA
1994 Masters in Computer Science - MIT, Cambridge, MA (expected graduation 1994)
ACTIVITIES AND AWARDS
· CBS Distinguished Student Scholarship Award (2006)
· Dean’s Certificate of Academic Achievement (2006)
· Reporter of CUHK’s Press Committee (2005 - 2006)
· Debater of CUHK’s English Debating Team (2004 - 2005)
· Hong Kong Young Ambassador Scheme – Gold Medal (2002 - 2003)
· Hong Kong Bank Foundation of JPC Award - Best Member Award (2001)
· The Hong Kong Award for the Young People - Bronze, Silver Award (2000 – 2002)
WORK EXPERIENCE
HSBC
Summer Intern, Equity Research, Hong Kong, 2006
Member of the Asia ex-Japan equity research team. Assisted in data collection and compiling of research reports.
FORTIS INVESTMENT
Summer Intern, Risk Management, Hong Kong, 2005
Member of the reinsurance brokers team for 15 Asian clients’ reinsurance programs. Developed skills in risk management and spread of risk across variety of financial instruments.
PERSONAL
Born in 1970, speaks fluent English, Mandarin and Japanese. Knowledge of Bloomberg.
If you have gathered three years or more experience, use this sequence:
1. Name, contact phone and email
2. Work experience
3. Education: degree, university, city and country
4. Activities and Achievements: select people-oriented items
5. Any other information, hobbies or skills that are useful to your application
Length: limit to one page
Always keep your incredible achievements on your resume, regardless of your experience
As you gather more and more experience, the significance of your activities weight less and less. If at some stage you consider your experience is solid enough to sell yourself, you can omit your activities list completely. However if you have something really outstanding, it is always good to list it. For example, one of my candidates obtain straight 'A's in any of her examinations, she always keep this info on her resume.
To whom should you present your sample resume?
In my next post, I am going to talk about how to look for an appropriate employer to start your investment banking career.
Recommended career tools:
Amazing Resume Creator
a DIY resume is good enough for an entry level job. Investment bankers always want the best out of the best. To stand out from the crowd, get Jimmy Sweeney’s help to craft a best resume for yourself.
Amazing Cover Letter
A powerful cover letter is the perfect partner of your resume. Personalize and customize your amazing cover letter with Jimmy Sweeney’s help.
Sample Resume