1. 2015 – 2016 Investment Management Recruiting Timeline
October
November
December
January
Lunch and Learns/Meet-n-Greets/ Coffee Chats
Stock Pitch Preparation
Informational Interviews
High Impact Resume event
Corporate Conversations
Application Deadlines
Networking Programs
Campus
Interviews (thru Feb)
ITP
IMG Resume Reviews
IMG Investment Conference
wInterview
IMG and HFG
Winter Treks
Network-based
Interviews (thru May)
Career Services
Resume Review
Booth Resume Deadline 10/26
Key Activities
Assessing the Fit
Spreading Your Net
Honing Your Message
Interview Prep
Attend Career Services programming on Investment Management and other industries – Industry Immersion, ExploreMore, Keys to Research, Career Passion, Skills Assessment
Understand the difference between the buy-side and sell-side
Understand the differences between hedge funds and mutual funds and why you are recruiting for one over the other
Understand the difference between fundamental and quantitative investing (or a hybrid of the two), and why you prefer one over the other, and how your strengths may best fit with one or the other
Identify the type of firm and geography where you want to focus your search
Build a target list of firms and contacts using multiple resources: second years, resources in the CRC, Career Services (GTS), the Community Directory , etc.
Once you have completed your target list, send s or written correspondence requesting informational interviews (where you try to learn more about the firm and the career path – not whether they can give you a job)
Your specialized search should be run simultaneously with your campus recruiting search
Determine your alternate plans (specialized search and campus recruiting)
Send cover letters/ applications – some firms may request an additional investment write up
Look for Firm resume drops / apply online for campus recruiting positions – all information and deadlines are located within GTS
Review job postings in GTS (daily job postings)
Continue informational interviews with target firms
Participate in either the East Coast or West Coast IMG trek to meet with different investment management firms especially if you are targeting these geographic regions.
Confirm interview invitations in GTS and bid for interviews. GTS will create your interview schedule and return it to you, so make sure to enter any scheduling conflicts (e.g. class on Monday from 8:30-11:30)
Attend wInterview
Attend ITP mock interviews
Practice answering Frequently Asked Interview Questions on the Career Services and IMG websites as well as the Vault Guides for IM & PE
Watch past investment management mock interview recordings on the Mediasite before interviews
Research the firm before each interview as many interviewers will want to know why you are specifically interested in their firm
Stay up-to-date on the markets, industries, and companies. Continue reading financial publications (WSJ, FT, Barron’s, etc.) and watch CNBC/Bloomberg
Sign up for a wInterview and ITP mock interview
IM interviews will frequently include the following components:
“walk me through your resume”
stock pitches
technical questions related to IM
market discussion
fit (IM career, passion)
If you worked for a large, public company in the past, be prepared to give an intelligent answer in interviews regarding what you think about that company’s stock
Consider creating a portfolio even if it is just a mock portfolio (be sure to understand why stocks have been purchased and sold)
Have a good suit ready for interviews
Familiarize yourself with all internship channels: learn the GTS system, join relevant functional groups (e.g. IMG, HF, CREDIT and S&T)
Attend Lunch-n-Learns sponsored by functional groups, and attend Corporate Conversations of companies that interest you
Develop an interest in a specific asset class (equity, fixed income, etc.)
Start to develop an investment philosophy (growth, value, GARP, contrarian, etc.).
Read books on investing and stay up-to-date on the markets with WSJ, Financial Times, etc.
Start to prepare cover letters that will go with your resumes/applications
Highlight your interest in an IM career
Highlight why you are a good fit both for the position and the firm
Use Corporate Conversations to take notes and get good company-specific tidbits to use
Get your cover letters reviewed by Career Services or second years
Start your interview story matrix
Notes on Network-Based Recruiting:
Network-based recruiting means any other type of recruiting process that takes place outside of the campus facilities
Re-evaluate your objectives and search process at regular intervals (e.g. How is your Plan A progressing vs. Plan B)
About half of IM internships and full-time positions come as a result of network-based interviews. You should anticipate devoting as much effort to your network-based search as you do for campus interviews
Be patient: smaller firms that do not recruit on campus often hire just-in-time
Consistently work on expanding your network
Start fine-tuning your resume
Get feedback from Career Services (Coaches, Career Advisors), second years, and any industry contacts/alums to add polish and focus
Build up stock pitches and/or investment ideas
Take the ‘Training the Street’ valuation seminar in the fall and the financial modeling seminar in the winter in order to help with valuation skills