Breaking Down The Door: The Path to an Internship on Wall Street T - - PowerPoint PPT Presentation

T H O M AS W I LS O N

Breaking Down The Door: The Path to an Internship on Wall Street

Who I Am

 Past UCSD student and current student of Cornell University

 UCSD Activities

 FPN  UIS  SFIC  Prospect Journal  Rising Leaders in Economics

 Cornell Activities

 Cornell Alpha Fund  Resident Advisor  Career Services Advisor

 Employment:

 StepStone Group – Private Equity  Barclays Capital – Investment Banking Division

Why Am I Here Today?

Where I Started

 Originally a Political Science major

 No interest in Finance  Attended a UIS meeting and took control of PI

 Called: A UCSD Alum  Read: Mergers and Inquisitions  Built: A Network

The Freshman Year: Developing the Action Plan

1) Build a Network 2) Dive into the deep end: A Crash Course on Finance

Careers

3) Build a Network 4) Become Conversant in Finance 5) Build a Network 6) Find a Mentor 7) Build a Network 8) Find an Internship

Building a Network

 The most important skill and asset you can develop  Caveat Emptor: You bear all of the risk for half the return

 Networking is dating. Come to your first date with:  Intelligent, thought-provoking questions  Polished and groomed mannerisms and language  Attention to audience  Due Diligence  Do not ask for a job  Know your story and develop your “elevator pitch”  Record your conversations  Assess your performance. Did you hit it off with him / her?  What were the take-aways? Did you learn about the industry? How to

enter the industry? What a day on the job is like?

 Do Not Burn Bridges

How To Learn the Industry Lingo

 Build a Network



Your networking conversations will yield foreign terminology. Write it down!



Ask your mentors (more on this later) to define terms while speaking with you

 Never ask a lukewarm contact

 Read



Your two greatest assets are time and your network. Use your time to self educate.

 The WSJ  FT  Seeking Alpha  The Deal Pipeline (For IB)

 Watch



On top of reading, watching quality programs will enhance your acumen

 Bloomberg  CNBC  CNN

 Train



Invest in training programs

 Pony Up



The easiest way to demonstrate interest is to put your own skin in the game

Finding a Mentor: The Two-Tiered Approach

 It is important to have both a junior and senior mentor

 A junior mentor will strike a balance between a friend and business

contact

 Ask them more penetrating questions  Ask them for additional industry contacts  Mirror their process. Typically, if it worked for them, it will work for

you

 A senior mentor will be far more professional  Play it safe  Listen to how they describe the industry  Seek long term career advice  Ensure that both mentors are currently working in industry. Avoid

your buddy that is a year older

Find An Internship

 Finding an internship is the easiest way to ensure

employment after graduation

 It is never too early to search  Interview early and often  Practice your interview protocol often  Leverage your network

Personal Habits: Professional Best Practices

 Daily Habits:

 Read one article in each broader industry vertical  Read 4 – 5 articles in industry of interest  Watch 1 hour of financial news  Read the front page of CNN  Know the broader market data and what drives performance currently  Dress for success

 Weekly Habits:

 Source 2 investment ideas  Review macroeconomic data released  Summarize market events  Create monthly, quarterly, and yearly as well  Catch up with one old contact  Reach out to one new contact  Own one new financial concept  Finish one book  Finish two academic journal articles

Questions?

 Contact Information:

Name: Thomas Wilson Email: tjw77@cornell.edu