Fletcher Features
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“How to get to Wall Street on a Tufts Degree?” This appears to be a big question on Tufts Campus if the large number of students who attended last week’s Wall Street information session held at The Fletcher School is anything to go by. The information session consisted of two panels of Tufts Alumni working for investment banks and consultancy groups including Morgan Stanley, Salomon Smith Barney, Bank Boston, Fleet Bank, JP Morgan and Merrill Lynch. The panels of young corporate achievers provided some insights on Wall Street careers and gave handy tips for job seeking. One thing all panelists agreed on was that there was no definite way to end up in the street. For some of the panelists it was a case of being in the right place at the right time when opportunity struck while for others it took persistent job seeking and a lot of determination. When asked about the advantages of a liberal arts degree in their jobs, one panelist explained that, “An understanding of international events and how they are likely to affect the market gives an analyst with a liberal arts background an edge over colleagues who may not see some of the issues the same way. Most students with liberal arts degrees are broad thinkers which is an important quality in an analysts or investment banker.” Another panelist who was at Fletcher in 1999 and took International Business Relations (IBR) said she got her job through the Fletcher IBR Department when the bank she works for asked one of her former professors to recommend someone with both business and international relations training. However, most panelists felt that applicants from business schools still have an advantage over applicants from other types of schools. As one Morgan Stanley investment banker put it, “When getting to Wall Street on a liberal arts degree, networking and doing an internship with an investment bank become extremely important because you have to convince employers you have the right quantitative skills and personality for the job. It is taken as a given that applicants from business schools will have the required quantitative skills.” Responding to what they look for when interviewing and what tips they would give prospective applicants, the panelists had the following to say: “Your Resume Counts! This does not mean just having one. It means knowing what you have put in your resume well enough that you are ready to discuss it in detail with an interviewer.” A word of caution given was NOT to have anything in your resume that you would not be comfortable speaking about. Know about the job you are applying for really well. “Research on the company and position you are applying for preferably before sending in your job application but especially before interviewing.” “Have good understanding of what is happening in the finance industry and financial markets. At the very least, read the Wall Street Journal.” “Know your current affairs. It has everything to do with your job! Interviewers will want to know how well you keep up with current information and trends.” “Relax about the Interview. You will never know everything there is to know. I have been an investment baker for 6 years and I still don’t know what my job is all about.” Obviously an absurd statement after the tips given above but still one that could help the nervous interviewee. And the best response to interview questions you cannot answer, “I am afraid I do not know the answer to your question but I would be grateful if you could walk me through the issues”. Apparently frankness and willingness to learn is a big plus in learning how to be an analyst or investment banker. “Character and personality are important! Most applications will look the same and after a long day, the last thing I would want to do as an interviewer is go through two hundred applications that might as well be carbon copies of each other. Anything that stands out will be a relief.” The panelist giving this advice recounted the following, “When I interviewed for my current job, my boss loved that I had spent one summer training dolphins. He said it showed I was willing to take up a challenge and try extraordinary things, which I sometimes have to do as a corporate analyst”. “Network, Network and Network. Statistics show that only 12-18 percent of the jobs people get are through on-campus recruiting. Most people, therefore, have to research and find other ways to get interviews for the jobs they want.” And finally, be patient. You may not get your dream job immediately after graduating but you will eventually get there if you keep focused on where you want to be. Books and Sites recommended by the Alumni: “The Fast Track: The insider’s guide to winning jobs in management consulting, investment banking and securities trading”, by Mariah Naficy. - About $13 New; Used $7 at Amazon.com “The Big Deal: 2000 and Beyond”, by Bruce Wesserstein. - About $25 (new) and $7 (used) at amazon.com. Sites to visit: www.thevault.com and www.careerjournal.com (from The Wall Street Journal).
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