I wouldn’t bother going to NY unless you’ve got something lined up. At your age, your best bet will be found by searching for unpaid positions, or positions that are PWM, boutique research or back office. While they are not IB, they will provide you with some resume building experience and make for a nice stepping stone into more attractive internships going into your junior and, ultimately, senior years (rising junior and rising senior summers, respectively).

Regarding cold calling, you should definitely take that step, but given your age, you should probably stay local and push more for an opportunity to build your resume rather than a dream opportunity.

Additionally, it’s always a good idea to call on contacts, but you should only call on those you are very close with. Given the positions you are targeting, your age, experience, etc, you don’t want to reach out to all of your contacts so soon. For now, use friends and your closest contacts, then reach wider once you’ve built a bit of a profile/resume for yourself going into next summer or so.

Finally, while you will certainly find more luck heading down the previous avenues I’ve mentioned, far be it from me to squash someone’s go-getter attitude and drive. Absolutely cold call and send some inquiry emails to IBs as well – ideally smaller/boutique shops, merchant banks, and so forth that as local, but definitely take a shot. With a simple cold call or email the worst that happens is you don’t get the position – they won’t remember you next year if you show an interest again – no harm no foul, but with plenty of upside potential.

If an MD wants me as an spring intern (fall, spring), but HR is claiming they don’t do that, should I follow up and make another push? If so, how? Can MDs overrule HR?

MDs often have some clout, but not always enough to go bringing on interns. If you don’t need pay, one option would be to reach back out and ask if you could intern unpaid – essentially just for the experience. That could absolutely set you up for a nice SA position next summer as well.

Otherwise, perhaps there was some sort of a miscommunication either between you and MD or between the MD and HR or you and HR. I would re-trace my steps and touch base with the MD – briefly thank him again for his time and quickly explain what HR told you – then allow him to clarify or express his confusion and look further into the matter.

Why do you suggest removing “Dean’s List” as an honor from your resume if it is your only honor?

Although Dean’s List is an honor and something you’ve achieved, as a standalone it just takes up space and isn’t necessary since anyone with a 3.7 or so or better GPA is on the dean’s list. In other words, it’s not something you’ve been given or something you are being recognized for, but rather, it’s pretty much your status based on your GPA. The fact that you have the GPA is the accomplishment, not that you’ve made the dean’s list. If you have another honor, then feel free to mention it since you’ve got the line anyway, but otherwise, leave it out. You are better off with more free space and since it is implied based on your GPA, it won’t really do anything to help your candidacy.

As a DCM Investment Grade analyst, I want to move on to P/E, but without much modeling experience, how do I sell myself? I have structure knowledge and have worked on numerous deals, but as is the case in Investment Grade DCM, I haven’t dug that deep into them – the mile wide but inch deep saying comes to mind.

Without seeing your resume, the easiest general advice will be to focus on 2 things: 1) big deals you worked on even though the work will be more of the inch-deep in terms of modeling work, and 2) deals and projects you worked on that did involve modeling, strategy and documentation drafting. Investment Grade DCM is known to not have a ton of modeling work, so you will want to show modeling where you can. Specifically, showcase your limited modeling work, documentation work and so forth around your structuring knowledge to illustrate credibility to you claim and capabilities. Beyond that, you want to highlight some big deals in your resume and even cover letter, simply because this is a prestige business. Even though the work won’t be terribly substantial, doing some sort of quality work will aid your cause and if you can get an interview, you are well on your way – then it’s just a matter of selling yourself from a technical (which you seem to have despite limited modeling) and behavioral (no modeling necessary here) perspectives.

I’ve heard that boutiques are usually shadier than BBs and not as desirable to work for – is this true?

Boutiques are not “shadier,” although they are quite different than standard BBs. While a small boutique will not carry the same brand name as a BB, obviously, the work experience can still be very strong (and the experience can be very strong as well in terms of deal responsibilities: modeling, documentation work and so forth). MM shops are highly reputable, similar to that of BBs, and Elite boutiques (such as Lazard and Blackstone) are considered stronger than most BBs excluding GS and MS (although they are on the same level).

In short, if you are looking for a FT IB opportunity that will set you up to move out of IB and into P/E or other buyside, you are better off with BBs, elite boutiques and some MM shops. If you are looking for FT IB to stay in IB, then all are good and smaller boutiques could easily be preferable to many candidates given their interest in retaining and growing talent, rather than the 2-3 and out of traditional BB IB classes. Finally, for an internship, while name brand definitely helps, any IB is solid, especially before junior year summer, and even for junior year SA opportunities, a small boutique IB internship with relevant experience is better than zero IB experience.

Do I need an MBA to break into P/E from IB? Also, is the idea of pre MBA associate to MBA to post MBA associate reserved only to the Mega PE funds or are MM/boutique PE firms less rigid in their hierarchy?

For P/E, you don’t need an MBA if you come out of a strong IB. Whether a solid MM, or preferably, a strong BB or elite boutique. In this case, you can break into PE after your analyst stint and then it is up to you to grow and advance.

It’s not reserved to anyone, but if you don’t come from a top school and top elite boutique or BB, it will be very hard to break into megafund PE without the MBA. That said, it will be very hard to break in with an MBA as well – especially if your MBA isn’t from H or S.

For smaller and mid-sized P/E shops, it is possible to break in from a wider range of IB positions, but if you can’t find an avenue or want an MBA, it is possible to break into P/E from a top B school program as well. Additionally, those B school students who have previous IB or P/E experience will have, at least to an extent, an upper hand in P/E and V/C recruiting given their relevant backgrounds.

I want to get a letter of recommendation from my current MD from my internship for B school. The problem is I won’t be applying for a few years – should I just get a stock letter now?

Most top business schools don’t just require a generic “letter.” Instead, they have a series of questions that they want answered by the recommender. Although I’m sure your employer really likes you, it is just an internship and in 2-3 years time you should be able to find 2 people to recommend you that can call on more recent experiences.

Additionally, if you want to hedge your bets, simply keep in touch with the guy and if you want to use him, then just ask him and provide him with your accomplishments, and rough answers/information to answer each of the questions. For now, you can write a summary of your accomplishments and projects to keep for a few years down the line – if you decide you want to use him as a recommender, you can call on this summary to refresh his memory as to what you’ve done (assuming you’ve kept in touch). Here’s a bit more on B school to keep in mind as the time gets closer.

I’m currently in a high school/associates degree program and will be attending a non-target, but solid school this fall. I am wondering if it is possible to break into banking with just my associate degree. If not, how can I position myself to get into IB (BB or possibly MM/boutique) with my U Grad? Finally, if I can’t get into IB out of U Grad, how easy will it be to get into IB from a top B school?

Let me tackle your questions 1 at a time. First, you can forget about breaking into IB without a Bachelors degree – the Associates degree is not going to do it, so move right on to breaking in from U Grad. Moving on to your U grad, while you’ve got a chance at breaking into a BB from the non-target (see Here), you will definitely have much more opportunity with regional boutiques and MM shops. That said, it is possible to get into BB shops, it will just require a lot more work, networking and some luck – you should definitely try though and landing some IB-related internships with smaller shops ahead of your junior SA (or at least FT) recruiting will definitely help.

Finally, regarding your MBA ideas, attending a top MBA will definitely be your best shot at breaking into BB IB – but let’s not make the mistake of assuming you will be able to get in straight out of U Grad, or even after 2 years of any-old work experience. It is very, very difficult to break into these top (not just top 5 or 10, but even top 15) schools and it is by no means a given after 2-3 years of experience. Therefore, while this is definitely your best bet, getting to that stage is anything but a definite at this point and will require some serious work on your part (check out my 2-part series on getting into B school Here and Here).

For now, focus on getting into U grad and doing very well. From there, you can position yourself for IB (whether BB or not) and then you can decide if an MBA is right for you, and, if it is, you can make the big push.

I plan on applying for summer internships in IB and am wondering what steps I should take to prepare myself for landing a good summer internship ahead of senior year. How much knowledge should I have about finance and accounting before going into interviews?

In terms of what you need to know for an interview (check This and This out for help with your upcoming interviews), this all depends on your major – if you are a finance/accounting major (or at least have some solid relevant coursework on your resume), you should definitely be comfortable with valuation, financial statements, etc. If, however, you are a non-business major (without this type of relevant coursework), you should be focused on more of the fit questions, but still have at least a basic understand of the financial statements – just so that you aren’t stumped by the most basic “walk me through the 3 financial statements” type of questions.

Next, in terms of next steps, you want to reach out to your alumni database and start networking as much as you can – of course, the better the school you attend – non vs. semi vs. target – the more alumni connections you will be able to make and utilize. Beyond that, you want to make sure you’ve got a solid resume and cover letter to showcase your skills.

Beyond that, while IB is your ultimate goal, don’t become entirely fixated on BB IB for SA opportunities – don’t forget about MM and boutique shops or even other relevant fields such as S&T, consulting, boutique P/E, etc. Keep your options open and, of course, cast a wide net in terms of applications and networking.

I’ve been networking a lot lately, and a few contacts have asked me for my resume. I just got a job that I started in late may (non-finance) – is it worth it to include this in my resume? Also, at what point should a job description be included in your resume (1 month, 6, etc)?

Once you start a position you can include it on your resume, and as you perform valuable (relevant to IB) tasks, definitely include them on your resume.

More specifically, to your first question, it really depends on the type of internship to which you are referring. Although it is not finance related, it can still be relevant – consulting, ops, accounting, etc can all be tweaked to appear very relevant to the skill sets necessary in IB (analytical, quant, attention to detail, leadership, writing, team work, etc). If, however, you are working in a fast-food shop, or as a bar tender, for example, that is not terribly relevant, and doesn’t need to be included in your resume (instead just use it as a means of earning some extra income as you search for a more relevant internship/position). Essentially you want to showcase as much relevant experience as you can, but relevant is the key word – you don’t want to give a mixed message as to what you want to do. An exception to this rule would be if you are entering your senior year and don’t have any work experience listed at all – in this case, it is better to list something, even if it is not completely relevant, but at least business related, on your resume (I would still leave off the fast-food cashier position though – for the record).

I understand GS TMT/MS M&A are widely regarded as the top of totem pole when it comes to PE recruiting, but how about other groups at GS/MS? Essentially, if given the opportunity to work at a top boutique, which other groups at GS/MS would be comparable or better for recruiting? Should I base it all of group or worry about fit?

First, just because M&A is a top feeder and GS TMT is a top group, it does not mean that the other groups are inferior. When it comes to P/E recruiting you need to figure out 2 things – 1) do you prefer M&A/Leveraged Finance or an Industry and 2) if an industry, then which industry? While M&A and Lev Fin are highly sought after, if you have a particular industry focus and end up in that particular industry at a bank like MS or GS, then you will definitely be in good shape for P/E recruiting since you’ll have industry expertise and will have some M&A exposure in that industry (especially if your group happens to do some of its modeling as many groups do) as well as working for a top bank.

Next, there is nothing stopping you from pursuing numerous employers and picking the best option. Essentially, if you get an offer with Blackstone, for example, and get another offer with MS and find out that MS M&A is only hiring 1 analyst, then Blackstone might be a better fit. If, however, you are networking with some of the MS bankers in M&A, your chances are much better. Additionally, when ranking your groups, you can rank M&A as #1, then lev fin, then Sponsors, then an industry or 2 of choice – you should get one of those options if not one of your top 2 or 3 (even without a bunch of networking, although networking does help).

Remember, while boutiques are great, their reach outside of the IB/PE space are not as strong as top BBs such as GS and MS. A strong BB on your resume in your industry of choice, for example, can open many doors in terms of future IB, P/E, corporate finance/development and so forth down the line, while some of the most prestigious boutiques aren’t known that much outside of the IB or P/E worlds (although this isn’t necessarily a bad thing if those are the worlds you are targeting).

At the end of the day, I would push for M&A, Lev Fin, Sponsors and an industry group of choice. Beyond that, I would really focus on fit and culture – you will be spending a lot of time there and the happier bankers or at least the less angry/disgusted bankers get the better projects, reviews and recommendations (usually).

A 710 will definitely not keep you out of those schools by any means. That said, if you think you had a bad test day, or think with just a bit more studying you could hit a 750 or better, then why not do it. If, however, you really put your hard work in, cranked away and don’t even want to think GMAT anymore, don’t bother taking it again to maybe get a 720…or maybe get a 690. A 710 is a solid score and with H/S/W and any other top 5-10 school, there is a lot more to an admission acceptance than your GMAT.

In short, check the GMAT box off the B school list and move on to strengthening the rest of your candidacy.

Are 90-100-hour weeks for analysts for real? Why can’t they just hire 2 people to work 40-50 hours per week instead? Also, do hours decrease as you move up the IB chain?

Yes, the hours really do approach 90-100+ at times – depending on deal flow, staffing needs and fire drills (sudden deal items that NEED to be done immediately). That said, 90-100+ hour weeks are not the norm, although just a few weeks like that in a row can feel like the norm and burn you out.

To the 2nd part of your question, no, you can’t just hire 2 people to do the job of 1 unless you hire 2 people to do the job of every 1 person and essentially double up on everyone and make them think exactly alike – essentially clone them…etc. In short, there is a chain of work – senior banker, to secondary senior banker (VP, senior associate, depending on group), to associate to analyst (give or take 1 banker in the chain depending on the deal plus other deal teams as needed). Therefore, the analyst might work 80 hours 1 week because he/she is on 2 live deals and changes to models, pitches and info memos filter down the chain and then back up the chain. Then new changes come down the chain and back up the chain – repeat and repeat.

As you go up the chain in IB, the hours do decrease – on average. That said, senior bankers are caught hanging around at midnight sometimes when they need to be – it’s just not as common. If on an average night an analyst gets out at around 11pmish, the associate is out by about 9-10pm and the senior bankers between 6 and 8pm although many times the senior bankers are in an hour or so before the junior guys file in. Additionally, while senior bankers have less hours in general, they also have far more travel time (at least coverage/industry bankers) and travel time is neither glamorous nor exciting (traveling is only a lot of fun when you aren’t required by work to do it and have more than a 5+-hour meeting to look forward to).

<>I am a sophomore at a nontarget and I just landed a BB PWM internship. Are PWM internships looked upon favorably by investment banks? Am I wasting my time, or is this a good opportunity for a sophomore to have in order to break into IB?

As a sophomore especially, you are definitely NOT wasting your time as you are early in your career and will have a strong brand name on your resume. That said, PWM is definitely not that desirable to IB, but a good brand name coupled with the early experience definitely makes it worth while (assuming you don’t have any stronger options available – See Other SA Opps). I would go for it, make the most of it, and then make a strong push for junior SA positions next year through networking, etc.

I have been pretty set on going to Harvard this fall, but I just got off the Wharton waitlist. I”m pretty set on a career in finance/banking, but then again, it’s Harvard and it would be hard to turn it down. So what do you think? Are those two pretty equal for U Grad?

First, let me say that in terms of U Grad, there is VERY little difference between H and W – they are both TOP notch schools, fully recruited by everyone and will open big doors going forward. That said, H has the legacy and brand slightly in its favor, but that IS IT. In other words, H is H, without questions and that’s a big deal, but in your case and given your career goals, I would DEFINITELY say that you should go with W.

For starters, you are in at W and haven’t heard anything from H – the difference is clearly not worth the potential for having zero top tier options. Second, both are top recruited schools with strong brand recognition. Finally and most importantly, in terms of IB/Finance recruiting, W, yes that’s right, W, is actually a stronger target than H. W is definitely the stronger brand in finance and even if you got into H, it would difficult to justify with 100% certainty that you should pick it over W. Bottom line, if I were you, I would pick W and not even look back. If you are interested in B school down the line, then you can shoot for H – for U Grad, for your career goals, and for certainty over uncertainty, go with W.

My contact sent me an email and signed with just his first name after I initially addressed him by the formal Mr. XXX. Should I have continued to use Mr. Smith or is first name now acceptable? Also, when is it appropriate to write an email using first name only; is age a factor?

In your case you are definitely fine with going with the first name. Since he signed with his first name, you essentially “have permission” to address him by his first name going forward without fear of insulting him.

To the second part of your question, it is usually fine to address someone by his/her first name when they are on an equivalent level to you – whether work wise, school-wise, etc. Beyond that, if the person signs or introduces himself/herself using the first name, referring to him/her by his/her first name is acceptable. Additionally, if you’ve had physical or telephone conversations where first names were used, first names are now acceptable for email as well.

Again, it’s not so much age as much as it is about status and situation – generally senior positions would lend themselves to the more formal intro if you are in a junior position regardless of age, whereas junior position interaction would usually go well with casual addressing (first name) regardless of age.

I am currently a high school senior. Do you suggest attempting any sort of networking during my first year of U grad? If I do attempt networking, how should I approach it (given my age and a limited finance background)?

It’s not the depth of your finance background that is an issue, it is your age. Since you are still very early in your college career (or will be), you don’t want to push too hard in terms of networking simply because there isn’t anything that you really need just yet in terms of help with opportunities etc – this is more of an informational push and a means of slowly building a network. That said, there is still absolutely nothing wrong with networking if done tactfully. At this stage your best approach should be in joining IB-related school clubs, attending IB-related school events, etc and working towards meeting professionals in a social manner and asking some broad questions about preparing yourself at this stage.

From there, it will be fine to send emails every few months to keep in touch. I wouldn’t mass email alumni at this point since you don’t have anything to gain – that can be saved for the latter half of your sophomore year (or summer) as you begin to prepare for junior SA recruiting.

Stay tuned for upcoming articles on a typical day in banking, more resume tips and much more!

It’s Only A Summer, Right?

Starting with the second, better scenario first, if you get stuck in a bad group (whether for the future placement, deal flow, hours/balance, team, etc) as a SA you are definitely not screwed here. The big objective in this case is to do your job, do it well and essentially tough it out with a smile on your face for those 2-3 months. Remember the SA position is exactly that, a position for the summer and as long as you stay in everyone’s good graces, you should have a decent enough experience and be able to leverage that into an opportunity with a better group – whether with your SA employer or a different IB.

As a SA, especially if you want to stay at the firm you are currently at, you will need to work hard and land that FT offer. Landing the offer, however, does not usually mean that you HAVE TO stay with your current group – as with most BBs, landing the offer means that you have a FT offer with the bank, not definitely and specifically within your SA group. Yes, if your group likes you and you wanted to stay in your group, you’d definitely have a great shot at that, but for the sake of this article, we will assume that you prefer another group. In order to make this group switch into not just any group, but your group of choice, you should definitely use your time as a SA to not only build experience, but also to build a network or at least network with a few bankers in your top groups of choice. This will definitely help you to land in the group you prefer come the following summer, when you begin your FT analyst career.

It’s Not A Lifetime, But It Can Certainly Feel Like One

Moving past the SA scenario, the other case involves getting place in your less than ideal group as a FT analyst. While in this case you do not have the ability to work a summer and then move on as part of a structured SA program, you are definitely not screwed and doomed to this particular group or industry for all eternity (yes, the exaggeration is completely necessary). In this case you’ve got a few options as to re-branding yourself in a new group/industry, but before I go into those, we need to quickly discuss how to prepare yourself for those options.

Regardless of the group you are placed in, in order to highlight yourself in a proper fashion when preparing to make your move, you need to be a star in that group while you are there. Essentially, treat the group as if it were your top choice by pushing for the big projects, getting more work on your current projects, offering to help out on other assignments, doing additional research and generally showcasing yourself as a team player and strong analyst. Yes, it is often hard to motivate yourself for something your heart isn’t in, but remember, it’s still valuable experience and will you to build your candidacy when making a push, especially if pushing for another group within the bank (good news travels fast, but bad news, as in you’re lazy and useless, will travel faster). Additionally, make sure to meet your whole team – this again follows the being a good team member path – and you definitely want to meet analysts, associates and senior bankers of other groups – use deal team contacts and your analyst class as a means of networking both for immediate opportunities and opportunities going forward.

Once you’ve shown yourself as a strong analyst, you can definitely begin to think about your next move. One way you can always go about re-branding yourself is by pursuing an MBA. While this path will definitely require the most time in your current position (as you probably won’t get into a strong business school until you’ve completed the 2-3 year analyst program), it will also open many doors for you in terms of on-campus recruiting, alumni network, as well as provide you with a fresh start as an associate. Additionally, since you’ve demonstrated your ability as a strong analyst, you should be able to land some strong letters of recommendation and ideally have at least one or two interesting deals to discuss.

Since business school is obviously not everyone, or at least not for everyone at one specific time, you might want an additional option. Along the same lines, 2-3 years in your bottom group choice might very be a nightmare for you, regardless of how well you perform during that time. With that in mind, we move onto the most popular alternative –the opportunity to make the Group Switch. Essentially, making the group switch within your bank will require all of the above preparation and work, with an emphasis on, of course, networking. Remember, moving to a new group within your bank is always easier than getting into a new bank – so use that to your advantage. Once you’ve established some sort of a reputation within your bank, it will be easier and preferable for the new group to satisfy its hiring needs internally, rather than by looking outside to a completely new person. Also, generally speaking your current team won’t have much hard feelings, especially since you can talk to them about it when you know you have an opportunity to move into the new group rather than just springing this on them last minute – you can give them a heads up and put in the time to make a smooth transition for everyone involved, even if it requires a little extra work for a few weeks (it’s better than burning bridges).

Finally, you can make the push to move to a new bank through utilizing your network. Of course the key here will be in maintaining discretion in your networking efforts. You don’t want to shout from the roof tops that you are leaving bank X until you know you’ve got something definite (and even then, a little tact still goes a long way in terms of maintaining good relationships). This avenue is most appealing for someone who likes their group/industry, but doesn’t particularly care for their team’s deal flow, work/life balance or doesn’t really get along with a member(s) of their team. In this case, you would love to stay in your industry, just move elsewhere, where you find a better fit. The reason why I say this option is best is because 1) you want to stay in your industry/group, just move to another employer and 2) other banks will have a much easier time taking on an analyst from another bank if they want to stay in the same group, rather than start completely fresh. For example, I knew an analyst who wanted to make a move to another bank that had a stronger footprint in the M&A space after his first year. That analyst was highly ranked and working in leveraged finance space currently. When this person interviewed with 2 or 3 other potential employers (with a bit of network help), the other employers were interested in bringing him on, but not as an M&A analyst, but rather as a leveraged finance analyst. While it is definitely possible to make a fresh start, it is easier to move within your bank.

While two years can definitely feel like a lifetime in IB, remember that you are only starting your career. As an analyst, you definitely have avenues to make a fresh start in a different group or industry. However, just because you have opportunities to make a switch, it does not mean that you should spit all over your current opportunity and just expect something new to come along. Be smart, be tactful, work hard, and keep your eyes open – you’ll find a new opportunity or, at the end of the day, you might actually decide to stay in what was once your bottom group choice.

Comments go below and emails can, as always, be sent Here!

First thing is first; since you already landed the offer, the meeting will NOT be like your Superday Gauntlet and you will NOT be expected to rattle off Technical Question Answers like a finance textbook. This meeting, fortunately (I am assuming most of you find this to be a fortunate point), will be entirely about fit – in other words, whether you like the type of people in their team and whether they think you are a good fit for the group. Essentially, you can expect it to be pretty casual (in terms of conversation, not attire – unless you are specifically told NOT to wear a suit, definitely wear a suit), while touching on many of the common points such as background, what interests you about group X, your hobbies, school, clubs, sports and so forth – depending on the person with whom you meet. No, you probably won’t be grilled on failures, strengths, weaknesses, etc, but you will still want to be confident and vocal in your conversation without coming off as cocky – remember, you are not really trying to impress them as much as you are trying to show them that you are likeable and a good fit with the team.

Be prepared to sell yourself as hard working and both interesting (as a person) and interested (in the team), but don’t be a phony – be genuine and true to who you are – it’ll make a much better impression and give both of you the opportunity to know if there is a good match there. Remember, while the group is checking you out, in a sense, to learn whether you are a good fit for the team, you should be evaluating the group to find out if you feel you would fit in and, more importantly, enjoy your time there – remember, it is work, but it is also going to be a BIG part of your life for the next few years (or at least months for a SA – although, of course, this is a much bigger deal to FT than SA since SA can change groups, etc after their internship).

Regarding what types of questions to ask the bankers, I would go with questions pertaining to the person him/herself – such as his/her interests, what brought him/her to the field and group, his/her school, etc. From there, I’d move into the general group dynamic. In other words, ask about the groups common interests – are they social (in other words, do they do anything as a group – whether that be outings, evening drinks, etc), is the group more casual or professional on the floor (in terms of not only attire, but banter, different banker level interaction, etc). While this is definitely a field of interest to you, this is also the field in which you need to exercise the most tact when posing the questions. Specifically, you need to make sure not to ask questions with judgmental tones in your voice essentially leading the banker to believe you feeling one way or another as opposed to simply trying to learn about the team. From there, you can go into analyst responsibilities – will you get modeling exposure, construct pitch books, draft and revise offering materials, etc. Additionally, will you get exposure to senior bankers or is it pretty structured (a vertical structure) meaning analyst goes to associate, and associate goes to senior bankers or even VP and only the VP goes further up the chain. Lastly, you’ll want to touch on the group as a product of the bank. In other words, ask about deal flow, hot products or industries right now (depending on whether you are talking to an industry or product group), whether the group is keeping busy and looking to some live deals (essentially you are showing an interest in becoming a part of the team while in reality you are trying to gauge just what level of experience you can expect).

While there are definitely other questions to ask, this should provide a solid foundation and a more complete picture of the pre-sellday networking process as a whole. If used properly the pre-sellday networking channel can be extremely valuable in terms of landing in your target group. Just as with anything that can give you an advantage, however, it can also give you a disadvantage if used improperly. Remember about all else to put your best foot forward and be genuine in your conversations – this will not only impress the group, but also help you to learn whether you would honestly be happy in that particular group going forward.

Keep an eye out for a new product coming soon, the kickoff article of the Lighter Side…of banking…and Much More! As always, comments go below and emails can be sent Here.

Should I try to meet with bankers in each group before the sellday?

This is a question that I get pretty regularly, and let me provide a clear answer: definitely. Meeting with a banker or 2 in your group(s) of interest is a great way to get on their radar ahead of the sellday, when, essentially, everyone will be fighting to make an impression on their top choices. While you will definitely be meeting many new bankers during your sellday and, honestly, might not even see your contact within group A during the sellday (perhaps he/she is not a presenter), you should still try to meet with at least a banker or two in a group you are really interested in. In short, you’ve got 2 big reasons here even if you do not see your contact at the event: 1) it gives you a great opening topic to break into conversation with all of the bankers in the group and 2) shows the bankers or at least provides a great avenue for the group’s representative bankers to look into your fit and check with someone already on their team. Don’t underestimate the power of networking and for having an “in” within a group even if that person is not a sellday decision maker. Finally, if you have some sort of an alumni connection (or interview connection – they interviewed you during one of your previous rounds, for example), that is even more of a reason to jump on the opportunity and will provide for an even stronger contact (alumni has the common bond and the interviewer can definitely talk to your fit and intellectual aptitudes).

Should I try to meet with more than one senior banker or analyst? Which is preferable: senior bankers or analysts/associates?

Before we focus on who is the best person to meet with, focus on actually finding someone to network with. In other words, don’t overlook analysts because you only want to talk to senior bankers or vice versa – if you are pressed for contacts, take what you can get and utilize as best you can to both cultivate that relationship and leverage it into additional contacts. Again, generally speaking, alumni connections and past interviewers are best since you’ve already got the connection established and those contacts can often speak to your skill set, fit, etc best (or better than other contacts such as acquaintances of acquaintances, LinkedIn contacts, etc). Now, if you have access to senior bankers, especially VPs and Ds as they are often a little more accessible and open to junior bankers than MDs who often have more on their plates, you should absolutely seize that opportunity. If, however, you can’t get a hold of any senior bankers, make your way down to the associate and analyst level as they will still be able to help you more than you might think (if you make a good impression) and, at the end of the day, making a good impression on someone in the group is much better than not knowing anyone. Finally, if you have several senior and junior level contacts within the group of your choice: 1) consider yourself VERY lucky and in with the crowd as long as you play it cool and calm, and 2) when reaching out to your contacts, don’t flood everyone’s email – instead, reach out to your closest contact; a junior and a senior banker is acceptable in this case (but not multiple bankers of the same category) since they will provide you with different insight into the group, the work, the atmosphere, etc.

Should I try to meet with as many people as possible or will this annoy them?

As I started to go into in the previous response, do not try to meet with everyone in a group. Assuming you are trying to branch out and meet new people within the group, you should not try to meet and open contact with EVERYONE – frankly, you won’t gain more information and will become a bit of a nuisance since you will be asking each banker the same questions and getting, usually, similar answer most of those stock questions. Meeting with 1 or 2 people in the group (especially if they are in different categories – 1 senior and 1 junior banker) is a great way to make the connection and possibly meet other people – as one of these bankers might invite you to meet a few others knowing that you’ve got a sellday coming and already have an offer – without imposing on the team or becoming a nuisance.

Should I go through HR and ask for contact info or just contacts I’ve built over the last year or so?

Generally speaking (and generally is an understatement here), I would go with contacts – alumni, past interviewers, friends/acquaintances, and acquaintances of friends LONG before I try to go through HR. I would only use HR as a last resort as you will not find the reception, help and contacts in general nearly as pronounced or even available as when you have a connection established already. Go with your contacts – even if in another group, they might know bankers in a group you like and give you a name – the reception will be far more welcoming and engaging.

Should I call, email, call and email to get the bankers’ attention?

The easy response here is to say that you should go with the email. Email is more convenient for the banker and more understanding and courteous of their schedule. That said, let me take this a step further and give a full answer in that it really depends on the relationship that you have with the banker. If you talk on the phone regularly or occasionally to catch up and don’t find yourself exchanging emails with him/her nearly as often, then you should honestly just give him/her a call. If, however, email is your method of conversation, updates, inquiries, etc, then stick with what works. In either case, what you don’t want to do is start calling and emailing frantically (and it doesn’t take many messages to come off as frantic or at least obnoxious) as if it were a fire drill though – pick a method, go with it, and BE PATIENT. If you email and the banker expresses and interest in having a phone call or meeting in person, that’s great, but don’t email, wait an hour, then call, then wait 2 hours and email again, then 3 hours more and call again, etc – yes I’m exaggerating a bit, but stranger things have happened and similar things happen quite routinely – in short don’t be a pain in backside.

Should I ask them to meet for coffee, out to lunch, or go to their office so they can introduce me to other bankers? Also, should I set everything up or sit back?

This is another situation where it depends. If the banker asks you for your availability and what you prefer then be decisive (although still flexible) and make some suggestions. As a general starting position, I also suggest that you let them set it up. If they want to grab coffee, do that, meet in a conference room, do that, introduce you to their team, do that. Make it easy for them and be flexible – essentially putting the ball in their court makes it easy for them to fit it into their schedule (within reason of course). If you are out of town, be sure to give them some notice as to when you are coming in and let them run with the agenda/plan from there. As an additional note, don’t accept the first date and time they suggest even if it doesn’t work at all for you. If you’ve got your appointment with them in NYC at their office at 1:30pm, and already have an appointment that you cannot break or reschedule (such as a class final in a course you need an “A” in to pass and without passing will not graduate – an extreme example, I know) at 2:00pm 40 blocks away, don’t take that meeting time. In other words, give yourself time to meet and don’t be afraid to pass on one time if it REALLY doesn’t work for you so that you are more comfortable and not pressured to rush everything. The impression you leave will be much better if you are comfortable and relaxed – not stressing about a big final.

Should I outright say that their group is my absolute top choice – even if it isn’t?

Banking across the banks is a small world – banking within a bank is an even smaller one. While an incoming analyst or associate is not a HUGE topic of conversation among bankers, you never know what might come up ahead of, during or after the sellday and you don’t want their lasting impression of you to be a phony and a liar. In short, don’t lie, but at the same time, if you are meeting with someone in a particular group you definitely want to show strong interest and make them feel like they are at the top of your list – hell, no one likes to feel 2nd best, let alone 12th. Remember, the sellday will provide you more than enough opportunity to meet bankers in each group, get a feel for the team and the group as a product/industry – therefore, don’t meet just to meet – only meet bankers in a group ahead of the sellday if you have a real interest in the team.

That about covers it for this post – if there are any other sellday networking question questions or comments, feel free to post them below or send me an email HERE. The sellday is huge and your big chance to make the impression necessary to get into your group of choice – you definitely want to do what you can to enhance your chances and appeal.

Stay tuned for posts, a fresh product and an great NEW aspect of the site, specifically my products – I am really excited about the decision and I hope my readers and supporters will be as well.

Number to Ask

Many people have asked me at what point should I stop asking questions and how many questions crosses the line between interested candidate and blindly annoying rambler. Unfortunately there is no magic number of questions you should automatically ask and no sudden bell that goes off when you’re at the interviewer’s recommended limit. That said, there are some general guidelines to follow when it comes to how many questions to ask. Generally speaking, 2-3 (I try to stick closer to 2 unless one of the interviewer’s answers was really short and left an opening for a follow-up question or such) solid questions are enough to leave a pleasant closing impression and appear genuinely interested without annoying the interviewer.

There are of course exceptions to this rule such as casual conversation. If the dialogue between the interviewer and you has become a bit more casual/comfortable, then you can allow it to play out for a few minutes. In this case, however, it is no longer the number of questions, but rather the time that should guide your moves. As the dialogue appears to wind down and you’ve covered a few topics in the closing questions, if the interviewer asks for if you have any other questions or leaves an opening, use that opportunity to close the interview for yourself to avoid the risk of taking your interviewer’s courtesy and turning it into his/her mistake.

Another exception to the rule runs closer to the extremes in terms of available time. If you are in the middle of a superday interview, for example, and there are other applicants in the middle of the process, you need to be aware of the time constraints on the interviews. In other words, if the interview comes to an end with just a few minutes before the time expires, do not try to squeeze 2 or 3 questions in – instead, ask 1 solid question and then excuse yourself and thank them for their time citing the time and the other interviewees – being aware of your situation and courteous of the interviewer’s time and process will definitely help you more than squeezing in 1 more rushed question. On the other side of the coin, if there is a lot of time left over, rather than speeding out of the interview, you can use this time to ask an extra question – ideally something that can stir up some sort of conversation and create more of a casual atmosphere – perhaps something hobby-related, or group activity related – this is not an opportunity to leave the interview and rest, but rather an opportunity to show your fit with team.

Topics to Cover and Not Cover

Just as you should not as 30 questions of your interviewer, you should also keep in mind that this is still an interview, and, as such, there are certain topics that you can and should cover and certain topics that you generally should try to avoid (unless of course, the interviewer brings them up in conversation).

When asking your interviewer questions, some of the best questions come from topics including his/her background – such as how and why he/she got into banking, how he/she chose that particular industry or product, etc. Besides background, ask questions on his/her team such as team dynamic, group activities, etc and the popular “what-if” questions meaning those questions that put the interviewer in a particular scenario or ask him/her to recount on events of his/her past and if he/she would do anything differently. For example, you can ask the interviewer what the one thing that he/she wishes he/she knew before getting into the business and whether that point would have changed his/her mind on entering the business. Beyond those questions, you can also ask about his/her most enjoyable moments/deals were in banking, what the most important qualities are for analysts, what mistakes he/she has seen analysts make, etc.

Of course for all of the interview topics that are acceptable and recommended, there is also a list of topics/ideas that it is generally better to stay away from. The most popular questions that I have heard from topics that you should try to avoid involve making the closing questions sound like a news reporter from CNBC interviewing him/her by grilling the interviewer on specifics on deals and market analysis (where do you see the market going in the next year or so, for example). Additionally, stay away from topics that can easily be found through a simple google search such as bank specifics, general questions on investment banking, etc (and of course questions on religion and politics – this should be assumed, but I figure it is better to mention it than leave it out and have someone walk down that path). Stay away from league table questions and street reputation questioning as this can both be found online and can be a bit offensive. Finally, stay away from exit opps questions such as “what P/E firms have you sent your analysts to” before actually landing the job and checking out the sellday – some of you might be laughing at this, but trust me, I have heard it before.

Pitfalls

I’ve went through a few things that you should be doing and covered a bit of material on what you should not be doing, but there are also some common pitfalls to avoid that relate to the past points and enter some new territory as well. First and foremost, avoid asking too many questions – yes, I mentioned it in a roundabout way before, but it needs to be mentioned again as it is the most common pitfall that I encounter. Remember, some interviewers will end the interview for you, while others will keep asking if you have any other questions even after time has expired – it is up to you to know the situation and be prepared to bring the interview to a close. Along the same lines as the previous point, try not to ask multiple part questions. In other words, it is one thing to ask a 2-part question, but I have heard candidates ask 3,4, or even 5-part questions that run about a paragraph long. Frankly, by the time you get to the end of the question I can barely remember where you started. Keep the questions interesting, but also simple. Don’t assume that asking two questions means you ask 1 question and then a giant 4-part question requiring a 20-minute response – the closing questions should leave a relaxed and enjoyable impression, not a tense and stressed feeling.

Beyond that, do not ignore the answers the interviewer provides to your questions and avoid spacing out during his/her responses. I have heard candidates ask a good question, then after a few moments the interviewer answers the question only to have the candidate ask a follow-up that the interviewer literally just answered in his/her previous response. I’ve also seen candidates space out, lose eye contact, yawn, fumble around with keys, etc, during an interview – this is just silly and something that you should have no problem avoiding.

The last pitfall that you need to avoid is subtle, but definitely real – cutting the interviewer off mid-response. I have had candidates ask me a question and then halfway through my response they (I assume) think of a follow-up question and just cut me off to ask it. Sometimes they apologize for cutting me off and sometimes they don’t – either way, don’t do it. If you think of a follow-up question just store it in your head for a few seconds and then when the interviewer has finished his/her response, ask it (this does not, however, mean that you should tune out the rest of the interviewer’s response when you’ve thought of the follow-up question – stay in the conversation!). Cutting off an interviewer is rude, creates a bit of that interrogation-room feel and is, simply put, not the impression that you want to leave just before closing the interview.

Knowing When to Close

This is a short point, but an important one – know when to close the interview. Whether it is because you have asked 2-3 questions, the interviewer is clearly becoming ready to end (by gauging his/her body language, he/she is checking the clock, he/she is closing answers quickly), or even just because you’re out of good questions (I know it sounds funny, but some people will try to force questions when they don’t have anything left to say to avoid ending the interview). In any case, you need to be prepared to end the interview. Simply decline to ask any further questions, thank the interviewer for his/her time, ask for a card or email address if he/she hasn’t already given you one, shake ends, and make your way out. Don’t be afraid to end the interview – it will hurt you more to ramble on and on or show a complete disregard for the interviewer’s time than to simply end the interview on a high note – a bit of showmanship (thank you George Costanza for those Seinfeld fans – ending on a high note).

Don’t Forget the Follow-Up Email

The last point that I will leave you with is regarding the follow-up email. I’m not going to give you guidelines or a sample follow-up/thank you email (maybe another time), but rather just remind you that you do indeed have a thank you email to utilize – so utilize it. In other words, use the thank you email to not just thank the interviewer and continue to express your interest in the opportunity, but also to ask another quick question if you have one and happened to run out of time during your interview or just to keep a dialogue between the 2 of you going. Remember, you’ve always got the follow-up thank you email to toss out another question – don’t hesitate to use it if for no other reason than to avoid running on during the interview.

That about covers it – stay tuned for more articles coming soon! As always, comment go below, and emails can be sent HERE.

If you are one of the analysts who do not receive a 3rd year offer, you usually know it in advance, as you will have been rated poorly in your second year and should have already been looking for other opportunities, whether in banking, P/E, B school, corp fin, buy side, etc.

If you are one of the analysts who do not get an associate offer, you might be caught a little off guard, as you can be ranked fairly well, 3, 3+ or 4 out of 5 (5 being the best), and get an associate offer, or not get one – this often depends on your group’s methods of bringing on associates traditionally, the need to bring on associates in your group, whether you are interested in staying with your group or moving to another and even the condition of the market and level of deal flow. If you are ranked a 5, you should get the promotion, and generally 4s have a strong shot at landing the promotion as well – although this does vary from group to group and bank to bank. Since it is generally the B school entry point, the associate promotion is a trickier matter since some banks rarely promote, while others try to grow from within, and the same goes from group to group within banks.

If you are not promoted or not given a 3rd year offer, you will have to move on – whether that means you find a new home within the bank, move to a boutique, P/E, other buy side, commercial finance, corp finance, etc, you will be termed out upon the expiration of your contract, either at your 2-year mark, or your 3-year mark (depending on your situation). Since it is the end of a contract, you will not be given severance, but you will be given a bonus based on your ranking just as the other analysts are given bonuses based on their rankings. A 3rd year 3+ who doesn’t get promoted, should get the same bonus as a 3rd year 3+ who does get promoted, although the promoted analyst will usually get an associate sign on bonus, raise, and so forth. This, of course, is far different than those analysts who receive buyouts from their banks or are simply fired – in that case there is no necessity to provide a bonus accrued, but rather a severance package or buyout package (depending on your situation – essentially the difference is severance you don’t choose, buyout you “get to choose” although if you don’t take the buyout there is often a much better chance of being laid off).

If you do not earn a 3rd year and you haven’t yet found another opportunity, your marketability will be a bit less than if you are not promoted to associate simply because it is easier to get the 3rd year offer than to get the associate promotion. At the end of the day, however, not getting an offer/promotion is not as important as your experience with the firm over your 2 or 3 years. Deal experience, project responsibility, modeling skills, contacts, etc, will carry you in your pursuit to find a new employer – you may have to look at some smaller shops, boutiques, etc, but you should be able to find a home (generally speaking – market conditions definitely play a factor in the ease, or lack-there-of, of finding new opportunities). Although you might be asked whether you received an offer or not, and if not, why not, you can absolutely craft an answer that doesn’t lead to you shooting yourself in the foot – bank on your experience and sell those experiences. Sometimes the team just doesn’t have the deal flow or is told to let some analysts go – and particularly in this type of market, it is still alright to use an answer like this – as long as the real reason isn’t something awful that your former employer will shout from the rooftops.

Finally, regarding B school, while it is difficult to get into top schools with just 2 years of experience, if you can point to strong experiences over those 2 years, coupled with some leadership activities whether in college, during your professional career, or both, craft some articulate essays and get some solid recs (even though you don’t get a return offer, most bankers will still write a letter supporting your candidacy as long as you tried and were a decent analyst – in other words you weren’t let go because of a terrible attitude, etc), you should definitely have a shot. The application and review process is often a good bit about luck, so give it your best, and if you don’t make it that year, you can pick up a nice non-profit gig, or work in corp fin, etc for 1 or 2 years, build some fresh experiences and then reapply – that is, if B school is something you are seriously interested in. Also, since you are coming from a banking background, you will be expected to do well on the GMAT (although regardless of your background, for top schools, you will be expected to do well on the GMAT – in the 700s) and that is something you will want to prepare for if you haven’t already.

To quickly recap – if you don’t receive the 3rd year or promotion, don’t panic. You should know at least a few months in advance as the process takes place generally around the half-way point of your 2nd or 3rd year (depending on which you are going for, of course). Once you get the word you need to move into action. While you don’t want to completely slack on your work as you never want to burn bridges or screw over your chances of getting needed recommendations, you should absolutely start reaching out to your network and headhunters. Put the feelers out, polish the resume, and work on getting your name back out there. Make sure all of your deals, modeling work, and so forth is articulated clearly and well on your resume before sending it out – you can probably even ask a colleague or two to take a quick look when they have a spare second. Next, be open with your boss – if you need a bit of time to interview on a particular day, just give a bit of notice – they know you’re being let go and you need to move on in, probably, the next several weeks, to a few months – not a hell of a lot of time. Remember to relax and not lose your cool – you can absolutely find something else, even if temporary, you just need to keep your eyes and ears open (and, ideally, have your contacts do the same).

That’s about it – if anyone has any other questions on the topic, or any topic, feel free to send me an email HERE or drop a comment below! Stay tuned for future posts on what a analyst really does, navigating the SA prep and interviews and much more!

Generally speaking, a sell-day is your opportunity to impress the other teams and, ideally, join the team of your choosing. Up to this point you have been fighting for a position within the investment banking unit, but now that you’ve landed the position, both you and the bank itself need to figure out exactly where to place you within the investment bank – in other words product or industry, and more specifically, which product group or which industry group. In order to do this, the bank will throw a sell-day for their incoming analysts – usually more than 1, depending on the size of the class – where the analysts have the opportunity to meet the different teams and, perhaps more importantly, the teams have the opportunity to meet the analysts.

During the sell-day, you will usually sit for several short presentations, by each hiring group, each concluding with a chance to network with each individual group for a few minutes. This last part is the part that you want to pay strict attention to and make the most of – but we’ll come back to that in a minute. Doubling back for just a second, the reason why I mentioned each “hiring” group, as opposed to every, or each group within the investment bank is that as a FT incoming analyst, you will have been hired either as a new candidate or received an offer from the SA position. If the latter is the case, and you were, in fact, a SA who received a FT offer, you will only usually be at a sell-day if you expressed an interest in joining a different group and didn’t find a new home or didn’t want to decide until the sell-day. Those SAs that have accepted positions within their SA groups will fill seats in those respected groups. Therefore, if there were only a handful of seats open in, for example, Technology, and all of the SAs kept their seats, then Technology might very well not be at the sell-day, or on the ranking sheet, since they do not have any openings for new analysts and will therefore not accept any incoming FT analysts. It’s not a big deal by any means, but just wanted to clarify that point as incoming analysts often wonder why a particular group or 2 isn’t available or isn’t on a ranking sheet or didn’t set up a presentation, etc.

Before getting to the final leg of the presentation, the chance to network with the bankers, let’s get into the presentation aspect of the day. Essentially, each group will have several bankers representing the team and set up in a conference room to introduce you to the team in attendance, the group, what the group does, impressive league table stats, deal closing figures, noteworthy deals, interesting aspects and capabilities of the group and anything else that they can think of to pull you in – I’ve even seen bankers pull out charts showcasing their record of getting analysts into top business schools and strong P/E shops 2-3 years down the line. In case you haven’t realized, all of this is done to attract as many incoming analysts as they can to their group so that the group, essentially, has their choice of the best of the incoming analysts. The presentation will certainly resemble that of a capabilities pitch delivered to clients introducing the group because, basically, you are clients and the group is trying to pitch to you their team, and get you to rank them number one. Now remember, just because the presentation is the group’s big opportunity to “sell” you their product/industry, no aspect of this sell-day process is one-sided.

Just as the presentation is the group’s opportunity to pitch you on them, it is also your opportunity to express your first big interest in the field and in joining the team. Use this presentation as a chance to ask some questions based on the group’s discussions and make your presence known ahead of the networking opportunity – this will help you to get on the team’s radar and even make the team a bit more receptive to you when it comes time to network at the end of the presentation. The key here, however, as is the case in every aspect of this day, is to keep the questions and comments relaxed and within the limits of moderation. If you are firing out questions every 30 seconds you will come off as more of a distraction than interested applicant, and you will definitely run the risk of establishing a reputation or displaying personality traits not of interest to rest of the team or that do not fit with the group dynamic. Don’t isolate yourself by getting too eager and don’t show yourself as a suck-up, trying to upstage everyone else. Just relax, ask a few questions when they are asked for and when the questions are relevant and value-additive – don’t ask questions just for the sake of asking them. If you can do this, you’ll definitely be in good shape.

Now, getting back to my previous point – paying strict attention to the short networking opportunity at the end of each presentation – let’s briefly move into why that is the case. Essentially, once you get past the presentation, you will have an opportunity to network with the group – but by network with the group, I really mean that you have an opportunity to connect with some of the group members, make a good impression, roughly figure out if this could be a fit, and evaluate whether this is a group, based on some of the teammates’ personalities, is a good match for you. First and foremost, some students are going to want to work in M&A, financial sponsors, leveraged finance, energy and power, etc, and while they’d be alright with working in an alternative group, they really want to land a seat in their group of choice. So, how do you do this? The answer: by nailing the networking opportunity at the end of that particular group’s presentation. The key here will be to make the time at the end of the session to go up and introduce yourself to the group’s panel participants, especially a group staffer (if present) and senior bankers, as they will ultimately be the decision makers. Additionally, you want to definitely briefly introduce yourself to the rest of the panel as well to further increase your chances.

By introduce yourself to the panel, I don’t mean state your name and conduct an interview, I mean that you should really be yourself. Express your interest in working for the group (but don’t be a suck-up or phony person – nor do I mean drop a few F-bombs and get your slang on – you’re still being judged, or, perhaps for lack of a better work, “interviewed” – do class is still key), be sincere in your interest in getting to know the teammates and ask questions about group dynamic, team activities, access to senior bankers, even questions on deal flow are fine as well – you really just want to show that you have an interest in the team, while maintaining those likable qualities that, presumably, got you hired in the first place. You want to fit in the bankers on the panel and be able to have a brief laugh or two while making your acquaintances – this will definitely help to set you apart from the rest of the candidates and help boost your appeal when it comes time for the teams to rank the analysts that they want. Additionally, make sure to get business cards from as many of the panel members as you can and definitely send follow-up emails later that day – it might not significantly boost your chances, but people have blackberries, and reaching out to keep your name fresh definitely doesn’t hurt. Remember, just as the group wants you to pick them as number 1 so that they have their pick of the analysts, you want the groups to pick you as number 1 so that you can have your pick of the groups, and the best way to do this is by making a great impression on the team.

After you’ve gone through each presentation it’s now time for the final stage of the process – the selection forms. At this point, if you haven’t received it already, you will be asked to take and fill out a selection card with the name of each hiring group listed along with a blank space next to it. You will then rank the groups in order of appeal to you from number 1 to whatever number of groups there are. Once you’ve done this, you drop the card off and there you have it – your selections are in and the fun for HR begins. The groups will essentially go through a similar ranking process, with the end goal being to get the majority of the incoming analysts into one of their top 3 or 4 groups. In other words, if there are 12 groups on the ranking form, the goal is to get you into one of your top 3 or 4 choices as opposed to your bottom 5 through 12.

Good luck on all of your sell-days and as always, if you have any questions, send them HERE and leave your comments below! Stay tuned for future posts on what an analyst really does, missing the 3rd year/associate offer, and much more!

Rather than surprise everyone, I have decided to let everyone know that starting early January, my resume and cover letter services will be taking a small step up in price. I haven’t made a final decision yet on the specifics of the resume, cover letter and combination package, but I know that the price will be going up. When I first released the service, I had mentioned that the price was going to step up at some point in the near future, and have decided that the New Year shall be the start of the new price. It will not be a large jump, as I understand that funds are often tight for students and career switchers (my readers in general), but a small boost is essential. I was initially going to just raise the price, but I have decided to give all of you the heads up and about a week’s notice or so, before setting the new price into motion.

In addition to the price increase for the service, I will also offer a higher cost service that will allow purchasers to have their resumes/cover letters completed in an expedited fashion. In other words, if the normal queue is about 2-3 weekends at that time, the expedited purchaser will have their queue times dropped to about 1 weekend or so. Rather than buy this service, if you are interested, I would recommend that you first shoot me an email to find out what the queue time is for regular and expedited services as there will be down times when standard queue is roughly one weekend, and others when I am backed up with standard queue times at 3+ weekends, or expedited queue times of 2 weekends or so. Hopefully this doesn’t complicate the process much and will allow people that need the service done quicker for a resume drop deadline, to meet their deadline.

Also, bear in mind that the expedited queue time will not push everyone on the standard queue back. The times that I quote generally provide me with sufficient time to complete your resumes, so an expedited resume would be moved up, but not in front of someone who is already approaching their due date – in other words, I will not tell someone that their resume will be ready by next week and then back them up 3 weeks for an expedited purchaser – I probably don’t have to say it, but I don’t want anyone to worry that purchasing the regular service will yield a lesser product or be continuously delayed – my quoted times will still hold true and the quality will absolutely not diminish.

Now, getting beyond all of the product junk, let’s get into the meat of the article, a few quick notes for holiday readers:

1. Don’t reach out to your new contacts, make cold calls or inquire into potential opportunities during these two weeks (meaning before the week of Monday January 4th). Yes, it is definitely exciting to have opportunities, email addresses, etc, ready to go, but let them burn a hole in your pocket for a few more days. There are two reasons for this: 1) most people that are important to the decision making/interview processes are out of the office, and 2) those that are stuck in the office are definitely busy and are probably not in the best mood to deal with new people, cold calling, etc. If there is one thing worse than being forced to work over the holidays, it is getting networking or cold calls when all you are trying to do is finish up and get home. Wait for the New Year and, in my opinion, wait until about Tuesday or so of that week back to give your new contacts a bit of time to get back into the swing of things.

2. Although not the best time to reach out to new contacts, now is a great time to reach out to your current contacts and wish them a happy and safe holiday (as well as catch them up on a few quick things in your life). Even if you are afraid that the contact has gone a bit cold, this is the perfect avenue to reach back out and warm it up again. If you don’t get a response, who cares, you weren’t going to get one anyway. If you do, then even better, now the contact is back and fresh, and if you need anything in the near future, you can begin to massage it again. A quick happy holiday email is a great way to talk about your updates briefly, wish them a happy holiday, and then ask a few questions to keep the email going (not necessarily internship or opportunity questions, but rather questions on how things are going with them, the group, etc).

3. And finally, save the presents for your friends and family. I have been asked, quite a few times, whether it is acceptable to send high up bankers, senior professionals, etc small presents or the like (such as coffee mugs, a holiday basket or other trinkets) along with a resume and cover letter. Although this might sound like a good idea, I would keep this one on the shelf. You are much better off sending the holiday email, perhaps sending a personal hand-written card (if you really want to send something concrete to the office), or just waiting until after the holidays to try and get the networking phone call. Sending gifts often sends the wrong message and leaves a bad impression, if it even reaches the person you are trying to send it to in the first place. Stick to the phone calls and emails – leave the coffee mugs for your distant cousins.

That about covers it for this installment; stay tuned for upcoming articles on what to do when sensing layoffs, a day in the life, more reader questions and much more! I hope everyone has a very happy New Year and, of course, keep reading!