The Fast Track: The Insider's Guide to Winning Jobs in Management Consulting, Investment Banking & Securities Trading - Softcover

Naficy, Mariam

 
9780767900409: The Fast Track: The Insider's Guide to Winning Jobs in Management Consulting, Investment Banking & Securities Trading
Softcover
ISBN 10: 0767900405 ISBN 13: 9780767900409
Verlag: Crown, 1997

Inhaltsangabe

Get an Insider's Edge on Launching Your Career.

Are you thinking about working for the likes of McKinsey, Merrill Lynch, or Salomon Brothers?  Thousands of undergraduates, MBA students, and others are rushing for prestigious entry-level positions in the highly competitive and lucrative fields of management consulting, investment banking, and securities trading.  How are you going to compete?  In The Fast Track, experienced recruiter and fast-track insider Mariam Naficy helps you make the right decisions every step of the way as she guides you through the rigorous, highly specialized recruiting process.  The Fast Track includes:

Comprehensive job descriptions of consultants, analysts, and traders, explained in layperson terms.
Over twenty in-depth interviews with people in the business at every level from first-year analysts to CEOs and recruiting managers.  
Tips on preparing an irresistible rÚsumÚ, giving a great interview, and choosing the right firm.  Listen in as recruiters at a top firm review candidates they interviewed.
Profiles of the top forty firms across the country with information you can't find anywhere else, including career paths, office culture, and interviews with employees.

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Über die Autorin bzw. den Autor

Mariam Naficy, a graduate of Williams College, worked as an analyst at Goldman, Sachs & Co. and as a consultant at Gemini Management Consulting, where she recruited new employees.  She is currently pursuing her MBA at the Stanford  Business School.

Von der hinteren Coverseite

Get an Insider's Edge on Launching Your Career.
Are you thinking about working for the likes of McKinsey, Merrill Lynch, or Salomon Brothers? Thousands of undergraduates, MBA students, and others are rushing for prestigious entry-level positions in the highly competitive and lucrative fields of management consulting, investment banking, and securities trading. How are you going to compete? In "The Fast Track, experienced recruiter and fast-track insider Mariam Naficy helps you make the right decisions every step of the way as she guides you through the rigorous, highly specialized recruiting process. The Fast Track includes:
Comprehensive job descriptions of consultants, analysts, and traders, explained in layperson terms.
Over twenty in-depth interviews with people in the business at every level from first-year analysts to CEOs and recruiting managers.
Tips on preparing an irresistible rUsumU, giving a great interview, and choosing the right firm. Listen in as recruiters at a top firm review candidates they interviewed.
Profiles of the top forty firms across the country with information you can't find anywhere else, including career paths, office culture, and interviews with employees.

Aus dem Klappentext

er's Edge on Launching Your Career.

Are you thinking about working for the likes of McKinsey, Merrill Lynch, or Salomon Brothers? Thousands of undergraduates, MBA students, and others are rushing for prestigious entry-level positions in the highly competitive and lucrative fields of management consulting, investment banking, and securities trading. How are you going to compete? In The Fast Track, experienced recruiter and fast-track insider Mariam Naficy helps you make the right decisions every step of the way as she guides you through the rigorous, highly specialized recruiting process. The Fast Track includes:

Comprehensive job descriptions of consultants, analysts, and traders, explained in layperson terms.
Over twenty in-depth interviews with people in the business at every level from first-year analysts to CEOs and recruiting managers.
Tips on preparing an irresistible rÚsumÚ, givi

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Investment banking and management consulting grow more popular each year with job-hunters.  In fact, these professions are the careers preferred by MBAs, with 50 percent of business school graduates taking jobs as bankers or consultants each year.  Many large banks and consultancies receive over 5,000 applications each year for analyst and associate positions.  To win a job in the face of this fierce competition, you must understand how the investment banks and consulting firms make their hiring decisions.  As you read this chapter, step outside your shoes and step into the recruiter's.  The more you understand the recruiter's perspective, the more you will be able to position yourself appropriately.

Throughout this chapter, I will be distinguishing between the recruiting process for targeted and nontargeted candidates.  Targeted candidates are students at the top schools where firms recruit on campus, while nontargeted candidates are those who are students at other schools or those who have graduated a few years ago.  

Where Are the Jobs?

Investment banks have large headquarters offices, where most employees and jobs are located.  Consulting firms, on the other hand, are more decentralized.  Employees are distributed around the country in order to ensure that they are near clients, and many jobs will be available outside headquarters.

Like providers of other business services such as advertising and accounting, banks and consultancies are headquartered in major metropolitan areas.  The biggest banks are based in New York City and the biggest consulting firms in New York and Boston.  But don't despair if you live elsewhere.  A number of investment banks and consulting firms are based in Chicago, San Francisco, Los Angeles, and other major business centers.  One area rising in prominence is the San Francisco Bay Area, where the growth of high-tech companies is fueling a demand for local investment bankers.  In addition, investment banks and consulting firms hire people from around the country to fill their headquarters office; if you're willing to relocate, you will improve your chances of finding a job.  Finally, remember that jobs are available at a wide range of firms, from large firms that everyone has heard of to smaller boutiques and regional companies.  Consult Chapter 4 for information on how to find the smaller firms.

Who Runs Recruiting?

One important difference among companies is whether they make hiring decisions on a centralized or decentralized basis.  Most investment banks use a centralized recruiting process while most management consulting firms use a decentralized process.

Centralized Model: The headquarters office manages recruiting for all offices.  The headquarters office reviews all resumÚs, performs interviews, and makes hiring decisions.  For the first-round interview, nontargeted candidates need to find their own way to the headquarters office, whereas students at target schools are interviewed by company representatives on campus.  For the final round, all interviewees are flown in to the headquarters office at the firm's expense.

Decentralized Model: Although there are uniform recruiting standards throughout the firm, each branch office is responsible for managing its own recruiting process and interviewing students from local schools.  The branch office screens resumÚs, performs interviews, and makes hiring decisions.  Candidates are first screened by their local branch office and then forwarded onto the office that the candidate prefers.  Chances of students at nontarget schools of breaking into the recruiting process are greater, since it is easier to schedule an impromptu interview at a local office than it is to try to fit into the schedule at a headquarters office 5,000 miles away.

Division vs. firm: At large firms with diverse businesses, each separate division runs its own recruiting.  This is common at investment banks.  Investment banking, sales and trading, and other departments each run their own recruiting process.  A divided recruiting process is also found at some large consulting firms with separate information technology and strategy consulting divisions, such as Andersen Consulting.  If a firm has a division-by-division recruiting policy, you should research each division's different culture, recruiting procedures, and hiring preferences.

The Standard Recruiting Process from Your Perspective

Now let's review the standard recruiting process used by large management consulting firms and investment banks.  Later in the chapter I explain how this process differs for nontargeted candidates.

You're lucky.  The major banks and consulting firms have very similar recruiting procedures, so once you understand one, you understand them all.  Candidates have five main points of contact with the recruiter that provide opportunities for you and the recruiter to assess each other.  the campus interview session, the resumÚ screening, the first-round interview, the final interview, and the selling process.  Your leverage increases--and the recruiter's leverage decreases--the further you progress.  Here's the whole process from a successful candidate's point of view:

The Campus Information Session: You're a student at a targeted school, and in the fall you attend all the dog-and-pony shows held on campus.  During the information session, sometimes called a "Meet the Company" or a "social event," you listen to the firm explain itself and its recruiting procedures.  You attempt to discern the differences between firms.  Sometimes it's difficult.  They all seem to say, "People are our most important asset."  You want to make yourself remembered by recruiters, but you watch some classmates try too hard to ingratiate themselves by asking lots of questions during the session and you decide that's not the right approach.  Instead, you mingle after the presentation, spending some quality one-on-one time with a recruiter you picked out.

The ResumÚ Screening: As a student at a targeted school, you submit your resumÚ to your campus career center by the deadline they specify, and they send the resumÚ to the companies on your behalf.  If you were a nontargeted candidate, you would have to send your resumÚ directly to the company.  You try to use your resumÚ to communicate why you are different from all the other applicants and therefore worth talking to.  Then you wait to see if you're chosen.  The resumÚ screening is the most competitive step in the recruiting process.

The First-Round Interview: Face-to-face with one or two interviewers, you sweat it out for forty-five minutes during the first interview.  Since you're a student at a targeted school, the interview is conducted on campus.  Nontargeted candidates are interviewed in the company's main office.  Now that you have a foot in the door, your job is a little easier.  You throw your energy into "selling" yourself and addressing the firm's concerns.  If you make the cut, you will be invited to a second-round or final interview.

The Final Interview: The final hurdle in the obstacle course is a difficult one: a grueling day of interviews at the firm's main office a week or two after the first interview.  The firm...

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Verlag
Crown
Erscheinungsdatum
1997
Sprache
Englisch
ISBN 10 
0767900405
ISBN 13 
9780767900409
Einband
Taschenbuch
Auflage
1
Anzahl der Seiten
368
Kontakt zum Hersteller
Nicht verfügbar
Verantwortliche Person
gpsr@libri.de
gpsr@libri.de

Europaallee 1
Bad Hersfeld
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Deutschland