金融职业方向指导

1、Graduate Finance AssociationCareers in FinanceSeptember 7, 2004AgendaI.AnnouncementsII.Careers in FinanceIII.Career MentoringIV.Investment BankingV.Sales & TradingVI.ResearchVII. Corporate FinanceVIII. OtherIX.Q&A Erica Tsou Faculty Speaker Series Vivian Sung Accounting Case Comp Heather Won

2、g Membership Steve Markovich Future MeetingsAnnouncementsWhat do we focus on? Investment Banking, Sales & Trading, Corporate Finance, Research, OtherOther clubs Investment Club, Private Equity Club, Hedge Fund ClubDevelop relationship with the COC Ken Keeley, Jill GoetzThe “active” job searchNo

3、one is guaranteed a jobIt is your responsibilityFour Keys to Success Hard Work Focus Preparation PersistenceNetworking 101Career Switching Scores, Undergrad, Specific Expertise“I dont know what I want to do”What should you be doing now? Learning, Studying, Networking, Thinking how to Market Yourself

4、Careers in FinanceCareer MentoringGrouped by Discipline Leads Breakout Sessions Meeting #1 Mini 1Discipline Information The process Timeline How do I get a job What do recruiters look for? What firms should I target? I am a career switcher What are the daily responsibilities? What skills do you need

5、? What are the pros and cons? What classes are directly related? Getting started with networking Panel Q&AMeeting #2 Mini 2Interviewing What are they like? Behavioral or Technical? How do I prepare myself? How many rounds? What should I do outside of class? Pitfalls How do I close the deal? Pane

6、l Q&AMock Interviews Mini 2Scheduled by VPs of MentoringFollow Up Mini 3Summer PrepInvestment BanksQ: What is an Investment Bank? 1) Investment banks sell securities to public investors in order to raise capital for their clients2) Provide transaction execution, liquidity and advisory services t

7、o corporate and private equity clientsDivisions of an Investment BankInvestment BankingM&A and UnderwritingSalesRetail broker, institutional salesperson and private client serviceTrading Provide liquidity for the bank and proprietary trading (making $ for the bank)Research SyndicateLink between

8、sales and corporate financeOtherOpsStrategyInvestment BankingWhat is Investment Banking?Investment banking is the term used to describe the business of raising capital (i.e. debt/equity) through IPOs, Secondary Offerings, PIPEs, etc., for companies (IBM, Exxon, Best Buy) and advising them on mergers

9、 and acquisitions, valuation and shareholder matters. Ultimately, investment banking is a business of relationships!Investment BankingResponsibilities: Modeling, Creating Presentations, Client Meetings, Execution, Managing Junior BankersCompanies: Bank of America, Bear Stearns, CSFB, Deutsche Bank,

10、Citigroup, FBR, Goldman, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, SG Cowen, UBS, WachoviaSkills: MS Office (EXCEL), Accounting, Finance, Strategy, Industry Specific, Interpersonal, Ability to Handle Pressure, Aggressiveness, Attention to Detail, Thick Skin, Relationship BuildingEnv

11、ironment: Aggressive, High Pressure, Serious, Face Time, Zero Tolerance, Negotiation and DealmakingPros: Knowledge, Money, Career Opportunities, Exposure to Senior People, Transferable Skills, Networking, RolodexCons: Very Long Hours, Lifestyle, Egos, Layers, Ups and Downs, Tepper is Just Now Beginn

12、ing to Penetrate this MarketInvestment BankingLeads Steve Markovich Brian Sullivan John Griffith Tom Drake Ryan PluschSales & TradingOverview: Traders create liquidity for clients (market making) and take proprietary positions (speculation). Salespeople pitch sophisticated and complex securities

13、, products, and solutions to their clients (buyside, corporate, high net worth individuals). Traders and salespeople can specialize in equity, fixed income, derivatives and a vast array of other securities. There are countless positions within a sales and trading department, some of which (product r

14、esearch, quantitative analysis) entail responsibilities that are more commonly associated with investment banking or research. Some of these positions are more sales/people oriented while others are more quantitative and research driven. Responsibilities: Networking, proactive project seeking, model

15、ing, presentations, statistical/quantitative analysisCompanies: Bank of America, Bear Stearns, CSFB, Deutsche Bank, Citigroup, FBR, Goldman, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, SG Cowen, UBS, WachoviaSkills: On your feet thinking, risk-taking, modeling, programming, communicat

16、ion skills, SALES!, quantitative analysis, aggressiveness, thick skinEnvironment: Aggressive, extremely fast paced, swearing (dont feel bad when you get told to “shut the hell up and leave me alone,” its not personal), Instant Gratification/DisappointmentPros: “Natural Fit” for Tepper, Money, People

17、, Transferable Skills (Buyside), Relative Lifestyle, Individuals Can ShineCons: Hours (less than banking but), Egos, Layers, Ups and Downs, Pace, StressSales & TradingLeads Michael DePietro Don Huber Aditya Vikram Singhal Clemence Mauchamp Yan Yan ZhengResearchOverview: Sellside Equity and Fixed

18、 Income Research Analysts provide projections and investment advice on various public companies through published research reports and through one-on-one discussion. Typically, Analysts cover companies within a particular industry (i.e. semiconductors, software) in order to develop extensive experti

19、se within that sector. Typically an “initiation report” is published when an analyst begins to “cover” a company and then periodically (earnings reports, mergers, etc.) updates investors with first call notes (shorter updates). Research Analysts will often publish comprehensive industry reports that

20、 provide very extensive analysis around the industry they specialize in. Institutional salespeople and brokers use these research reports and analyst recommendations and pitch these stocks to their clients. Responsibilities: Financial Modeling, Writing Research Reports, Industry Analysis, Promoting

21、Ideas (Institutional Salesmen, Buyside Managers)Companies: Bank of America, Bear Stearns, CSFB, Deutsche Bank, Citigroup, FBR, Goldman, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, SG Cowen, UBS, WachoviaSkills: Accounting, Valuation, Finance, Strategy, Interpersonal/Communication, Str

22、ong Stomach, PatienceEnvironment: Serious, Tight Deadlines (earnings season), Sales-OrientedPros: Develop Strong Industry Expertise, Transferable Analytic Skills, Access to Buyside, Company Analysis, Deal with CEOs and CFOs of covered companiesCons: Industry Uncertainty, Client Complaints, Repetitiv

23、e Coverage, Compensation, Travel, Boring at TimesResearchLeads Jay Lasus Henry Carlson Vivek Kukar Saurabh Gupta Greg CzamaraCorporate FinanceOverview: CFO, Business Development, Treasury, Business UnitResponsibilities: Financial analysis, financial reporting, budgeting for business groups, competitor analysis, M&A work, capital budgeting, capital structure Companies: IBM, Home Depot, Pfizer, Merck, Alcoa (any corporation)Skills: Analytical ability, accounting, fin