As the recruiting season for investment banking/consulting draws nearer, I figured I’d publish a bit of advice I often give to the many bright and eager candidates who reach out. Generally, I find that candidates are a bit too focused on the hard skills (like DCFs and stock pitches), and not the soft skills (like building meaningful relationships), which I believe are what truly separate exceptional candidates from the crowd. This is a post on those soft skills:
For me, no semester better exemplified the college roller coaster than my junior recruiting season. Every fall (and now spring) undergraduates around the nation dive headfirst into the uncertain and anxiety-inducing ocean of recruiting in hopes that they’ll wash up onto Manhattan’s glorious coastline. And many times, those eager students find themselves without a lifejacket sewn from adequate preparation. I was no exception.
Deciding to pursue Investment Banking recruiting two months before my first info session definitely wasn’t the brightest idea. I figured it’d turn out okay because of the plethora of online- and school-based resources that were available to me. Hahaha… was I wrong. Rather than turning me into an Excel superstar, the deluge of information quickly overwhelmed and paralyzed me. But gradually, through painful trial-and-error, I figured out how to separate the content from the noise. These four mantras summarize that journey and illustrate how I approached (and eventually found success) recruiting across the Street.
Mantra 1: Inundate Yourself
An aspiring artist can read all the literature they want about impressionist techniques, but that won’t make them an impressionist artist. They first have to set brush to canvas thousands of times over. In the same light, you can read all the Vault guides and watch all the modeling tutorials you want, but that won’t make you the next top bucket analyst.
So how do you figure out what you’re getting into before you cross the Street? Vicariously. Have all the conversations and devour all the knowledge you can from those currently working in the industry. I undoubtedly learned the most about the markets from conversations with those working at its cutting edge. I was then able to apply that knowledge to my own supplemental studies and future conversations, creating a virtuous cycle of constructive dialogue and enhanced learning.
Inundating yourself allows you to pick up on the lingo, mannerisms, and patterns that are specific to banking.
Mantra 2: Differentiate Yourself
So now you know how to value a company and you read the Journal every morning. But doesn’t everyone else? You’re competing with thousands of bright peers, all eager to walk an interviewer through a basic DCF analysis. Recognize that those peers have access to similar networking and educational resources. Therefore, you have to ask yourself the question: What’s my competitive advantage? What can I bring to the table that no one else can?
For me, I was the CompSci kid. The tech geek. I related pitching clients and building models to my experience managing product life cycles and developing software. Of course I wasn’t the only candidate with a computer science major. But I like to think that in a room full of finance professionals, my interest in artificial intelligence or space travel contributed depth to my candidacy as a human being, rather than just as an Excel wizard. Point being: figure out who you are and why that makes you a stronger candidate.
Mantra 3: Be Yourself
Bankers are more than happy to call you out on BS. By going into an interview not fully “you”, you’ll naturally be out of your element. This might just be general life guidance but please, be genuine. Be proud of the fact that you sing Taylor Swift in the shower or that you drafted RG3 in your fantasy league this year. Being yourself exudes confidence, which studies continually show is the most desirable characteristic interviewers look for in candidates.
“Never forget who you are, the rest of the world will not. Wear it like armor and it can never be used to hurt you.” — Tyrion Lannister
Mantra 4: Acknowledge the Little Victories
At the end of the day, if you give it your blood, sweat, and tears then you have nothing left to do but congratulate yourself. Every small step is a battle. Sending a cold email is scary. Hopping on your first informational interview is terrifying. Celebrate the small victories. No matter who you are or how well prepared you are, you will face rejection. But don’t see it as such. Embrace vulnerability and learn from your mistakes. Recognize your failures, but don’t accept them as the end all be all. Use them instead as learning opportunities and reality checks. Above all: stay humble.
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In ending, I would be absolutely nowhere without the generous help of those who came before me. Alumni pushed and supported me to inundate myself, differentiate myself, be myself, and eventually celebrate. These four mantras were the pillars of my recruiting process; hopefully they help enlighten your path as well. Success in recruiting requires curiosity, motivation, and a whole lot of grind. But it can also act as an introspective medium for figuring out who you are and what you find meaningful.
Please feel free to reach out at anytime on Twitter, happy to answer any-and-all questions.
