Transcript [Presentation Subject] - Carnegie Mellon University

Navigating the Recruiting Process
Strictly Private and Confidential
Table of Contents
Know the Banks
Buldge Bracket to Regional
Monoline vs. Universal
Generalist vs. Specialist
Keys to a successful Recruiting Process
Big Picture
Building a Book
Preparing for “Informationals”
Networking 101
Knowing the Banks and the Structure
Who are the players
Global /
“Bulge Bracket”
3
Regional
The Structure of an Investment Bank
“Private Side”
“Public Side”
Corporations
/Issuers
Coverage
Groups
Other
Product
Groups
 M&A
 FSG
 Capital
Structuring
Investing
Public
Debt &
Equity Capital
Markets
Sales
& Trading
Research
What is a Monoline Investment Bank?
A monoline “investment bank” has historically consisted of three distinct, but related businesses:
Traditional Investment Banking
Sales & Trading
Research


Distribution and execution
arm of the investment bank


Sells and trades stocks and
bonds
Analysis and
recommendations of stocks
and bonds

Includes company coverage
and sector coverage

Capital raising
– Debt
– Equity
Strategic advisory services
– Mergers & acquisitions
– Restructuring
– Takeover defense

Manages the firm’s risk and
makes markets for the
securities underwritten by
the investment bank
Universal Banking Model – Citigroup e.g.
Corporate and Investment Banking
Global Banking


Global Markets
Investment Banking 
– M&A
– Restructuring
– IPO

Corporate Banking
– Relationship
Banking

Global Wealth
Management
Global Transaction Services
Capital Markets 
Structuring &

Origination
Cash Management

Investment Research*
Securities Services

Private Banking
Sales & Trading 
Trade

Smith Barney
Public Finance
Keys to Success
Generalists vs. Specialist
 Determine if you are looking for a direct placement or a rotational experience early on.
 Understand the pros and cons of each.
 Categorize your tiered schools by their hiring approach.
 Generalists: Credit Suisse, Morgan Stanley, Lehman Bros.*, Citigroup*, Bear Stearns
– Generalist programs are designed to give new hires a broad introduction to multiple
industry and product groups, as well as sub-group cultures, prior to determining
their final group placement.
 Specialists: Goldman Sachs**, JP Morgan, Merrill Lynch, UBS, Bank of America
– Specialist firms seek to determine specific group placement through the interview or
sell day process.
Big Picture
 View this process as a Marathon not a race
 Know what you want to do and why
 Follow through in a timely fashion with everyone who can
impact your career
 Be thorough and correct in your correspondence
 Don’t be a cliché….
 The process starts now!
Building a Book
September
October
November
December
Campus Presentations
Spend time with Second years who have worked at each firm
Get cards from one business person and the appropriate recruiter for the business
you are interested in – School Team Captain and junior representative
Follow-up with a short email ASAP –
Create a spreadsheet or folder with recruiting materials etc. from each firm
Review vault.com and other sites to get an understanding of the firms
Week on Wall Street
Begin prioritizing your firms – Tier 1, 2 and 3
Email prior contacts and express interest in visiting for an informational interview
Schedule ½ hour slots around the already packed schedule
Be prepared with questions!
Resume Submission
By this point your resume should be ready to submit online
Call contacts prior to Thanksgiving and attempt to schedule one more visit to the firm
over winter break
Begin Interview prep work with Friends –”informational” sessions are coming to a
close
“Informational Interview”
Be prepared to sell yourself for the business and the Firm
Ask for the order – Closed list or first round interview
Preparing for “Informationals”
 Make sure your resume highlights points of excellence
 Leverage Four Key Resources:
– 2nd Years
– Alumni
– School resources – professors and career services
 Be Prepared to show your transition from pre-B-school job to desired job
– No matter what you did in your prior life, you have some skills that will be used in future career
– Show prior experience only as a positive
– Know your resume inside and out
 Wall Street Journal, FT and Barron's are required reading
– Know key deals that are being discussed from a banking perspective
– If S&T be able to discuss both debt and equity markets
 Must knows – DJIA, Long Bond, Key numbers
 Prepare meaningful questions
– Do Not ask anything that could have been garnered from the Web Site
– Ask firm’s “behavioral” questions
– Don’t leave unless you fully understand how that Firm’s process works
 Do not become too Familiar
Networking 101
Communication is key
 Keep a spreadsheet or notebook to track the following for each firm
– Contacts – include name, phone/email, title, business/division, comments
 Track any unique information to that contact – i.e. Call CFO at 6:45 AM
– School Team Structure
– Key marketing messages
– Organization of summer program
– Recruiting process
 Leverage your two key contacts – “God Fathers”
– Ask for them to recommend others for you to visit with
– Ask them to gather feedback on your perception within the firm
– Ask them to call recruiting if you are getting stuck
 Make sure the lead recruiter is aware of all interactions you have had with their colleagues
– Best friend… worst enemy
 Email is a great way to send you thank you notes – it is not an effective “communication” tool
CITIGROUP CIB/GWM MBA Recruiting
Global Capital Markets
Global Banking
Global Transaction Services
Global Corporate Services
Global Wealth Management
Technology
Investment Research
Courtney Storz
212-816-5273
[email protected]
Caitlin McLaughlin
212-816-4967
[email protected]
Melanie Stave
212-816-6449
[email protected]
Claudia Mignacca
212-816-7245
[email protected]
Jessica Martin
212-816-2479
[email protected]
Naomi Finkelstein
212-816-1942
[email protected]
Kerry Daly
212-816-9488
[email protected]
Kate Myers
212-816-2219
[email protected]
Erin O’Brien
212-816-3719
[email protected]
Michelle McCumisky
212-816-1225
[email protected]
Katie Hoffman
212-816-2480
[email protected]
Monica Sekulov
212-816-4291
[email protected]
Jen Tutak
212-816-9598
[email protected]
The Private Bank
Becky Wyvill
212-559-0508
[email protected]