Archive for category Career Insights

10 Lies You Should Tell in a Job Interview

May 16

Posted by doostang in Doostang Jobs, Finance, Interviewing, Investment Banking, MBA, Resumes, Unemployment, Wall Street | No Comments

New Jobs on Doostang

Investment Associate – Chicago, IL

Analyst / Associate – Santa Monica, CA

Analyst – Entry Level – New York, NY

Investment Banking Analyst – New York, NY

Pre-MBA Associate – Boston, MA

Hiring Managers ask interview questions that are designed to give them reasons not to hire you. These trap questions are meant to expose any problems you’ve had in your professional career. For trap questions, sometimes answering honestly is the wrong answer. The Hiring Manager is trying to determine if you’re smart enough to lie.

1. Every job you ever had was great.

What you’re really telling the hiring manager or recruiter is that you are a positive person. We’ve all had jobs we disliked, but it’s not a good idea to talk about it. Hiring Managers will think if you hated your last job, you might hate this one. Have at least one positive thing to say about every job on your resume.

2. Every project you’ve ever worked on was successful.

Hiring Managers don’t want to hear about your failures. Since we’ve all failed at some point, the key is to talk about your successes, and spin your failures to sound like successes. If you can’t frame a failure as a success, don’t talk about it at all.

3. You’ve done this type of work before.

Hiring managers don’t want “quick learners”, they want “experienced professionals” who don’t need training. Figure out ways to make your past experience sound like what the job requires. The more examples you can give of being experienced in what the job requires, the more likely you will look like a strong candidate for the position.

4. Your last boss was brilliant.

Your relationship with your last boss predicts your relationship with your next one. Don’t tell the hiring manager what an incompetent idiot your previous boss was. Instead, tell your interviewer your last boss was great, taught you valuable skills, and was an inspirational leader, no matter how big of a lie it is. It may hurt to glorify someone you hated who doesn’t deserve it, but it’s in your best interest, and doesn’t actually help your old boss at all anyway.

5. You’re currently working.

Hiring managers think in terms of supply and demand of candidates. If you’re employed, you’re in demand, and if not, there might be a reason. If you are unemployed, there are ways to fudge it. The easiest is to “self-employ”, either by labeling yourself as a self-employed “consultant”, or a new entrepreneur building your own business. Another technique is to volunteer at a not-for-profit, and list this position on your resume. You can also say you’re currently going back to school to get a better degree, but need to put it on hold and go back to work for financial reasons. The key is not to sound like your are doing nothing.

6. You love to work late.

What you’re really saying is you’ll work late if the company needs you to. If they ask why, say that “if you have to work late, then it’s a really important assignment, and it makes you feel good to know you can contribute more when it’s important for the company.” Employers don’t want someone who sprints for the door at 5pm, and refuses or resists working overtime when the situation demands it.

7. Every co-worker was great.

You’ve never had a single interpersonal problem with a coworker, not one fight, ever. Of course we all have, and the hiring manager knows it. The candidate who talks about past interpersonal problems, or even worse uses them as excuses, is the wrong candidate. Once again, past problems predict future problems in the eyes of a hiring manager.

8. You learned a lot in college.

More specifically, you’ve learned a lot that has prepared you for this exact job. Be prepared to cite the classes and skills you picked up which relate to the job requirements. Don’t invent classes or fake your degree, but show that what you’ve learned in college has prepared you for this role.

9. You almost never get sick.

We all get sick occasionally, but if asked, tell the hiring manager that you’re the type of person who leads a healthy lifestyle, and rarely calls in sick. Even though hiring managers aren’t really supposed to ask about this, some do, especially if you’re an older worker, or show signs of being unhealthy. Whatever you do, never discuss any past medical issues, unless absolutely necessary.

10. You have no personal problems.

We all have problems, but the key is not to discuss them in a job interview. Key examples are financial problems, family problems, and especially legal problems. Personal problems have the potential to affect a job candidate’s work life, and hiring managers are keen to avoid hiring people who have them.

New Jobs on Doostang

Investment Associate – Chicago, IL

Analyst / Associate – Santa Monica, CA

Analyst – Entry Level – New York, NY

Investment Banking Analyst – New York, NY

Pre-MBA Associate – Boston, MA

Share

An Insider in Trading

Dec 11

Posted by doostangkaitlin in Advice & Tips, Career Insights, Finance, Job Search | No Comments

Investment Analyst, New York, NY
Managing Consultant, San Francisco, CA
Mergers and Acquisitions Manager, Boston, MA
Director of Marketing, New York, NY
Research Analyst, Los Angeles, CA

More jobs we think you’ll like…

wall-street-fallen-bullAs a recent graduate from Stanford University, I often hear friends of mine lament the downfall of the finance world. What was once such a hot industry – one many of us strove to join as bright-eyed underclassman – suffered serious setbacks in the past year, forcing hordes of Economics and Business majors to set their sights elsewhere. One friend of mine, a Finance major with previous internships in investment banking, decided to start a company promoting art museums when his job offer was rescinded. So for some, the shortage of jobs in finance has led them to pursue more unique, if initially less lucrative, opportunities.

Still, there are others who remain hopeful in their quest for capital gains, risk arbitrage, and absolute returns, holding on to the mantra, “Wall Street or bust!” Recently I sat down with James, a friend of mine who works for a hedge fund. I asked him questions about his work and about the sort of skill set required of an individual who is looking to break into the finance realm in such an unstable job market. Here is what he had to say:

What does your job entail?

I am an analyst for a long short equity hedge fund. My main responsibility is to advise my portfolio manager on investment decisions. This involves forecasting earnings and valuing companies based on my primary research.

Do you have any specific areas of focus?

My sector of focus is technology, which is extremely broad. Within technology, I’m currently focused on Internet and telecom companies, as well as alternative energy.

Did anything draw you specifically to Tech as a sector?

Definitely. Tech is a sector in which the United States is still very much a leader, and there’s always exciting stuff going on at the margin – new disruptive technologies turning whole industries upside down. Being a tech analyst requires you to stay on your toes and achieve a very comprehensive understanding of industry players. In some ways it is like being in college again – because you are often learning about these companies’ products and the science behind them, not just their financial statements. However, the workload is much more significant than in college, so I would recommend getting some recreation time in before you graduate if you do choose to work at a hedge fund.

What skills are emphasized in the work that you do?

I think it’s very important to be a good listener and a fast learner when you are ramping up – or learning the ropes. You have to be resilient as well – sometimes you will spend quite some time learning the ins and outs of a sector or the particulars of a company before you can really get an edge. But I think that in any finance role, diligence is probably the most important attribute for any candidate, particularly at the entry level. It’s very easy to lose the trust of your superior by messing up some minor detail, and once you’ve lost that trust, it can be hard to move back into a position where you’ve had the same responsibilities as you had before. That’s something I learned as an intern a couple years ago.

How did you land a job at a hedge fund in this job market?

I wish that I could say that I was just an exceptional candidate who could have gotten a job anywhere, but that’s probably not the case. The truth is, I essentially got to where I am now from my internship two years ago. I made certain to stay in touch with the people I worked with, and one of my coworkers from that summer ended up taking a job as a portfolio manager where I now work.

I would advise any undergraduate who has held internships before to try to stay in casual contact with their coworkers, because it makes things a lot less awkward if the time comes to follow up in search of a job. If you do fall out of touch, then it still won’t hurt to ask. Most people like to help other people out, so just be humble and confident and throw out a line.

How is your fund fairing in this market?

We recently passed our high watermark, which means that we can now start earning fees again on the money we make from this point forward. Last year the fund got hit pretty hard, but fortunately we’ve rebounded very well.

Is this unusual?

I think that many funds have fared well this year, but I would say most funds are still under their watermark. Last year was the worst year in history for hedge funds.

Do you have any thoughts on the recent political controversy surrounding bonuses in finance?

I guess I can understand why some people are bothered by the bonuses being paid out at firms like Goldman Sachs and JP Morgan. These firms benefited a great deal from a government backstop, were really on the cusp of a liquidity crisis and now are in as good shape as ever. At a time when most people are suffering, that kind of prosperity in the sector that is blamed for the recession is going to hit nerves.

What is going on in the industry with hiring?

With hedge funds specifically, there is a glut of experienced talent in the market right now because so many funds shut down or were forced to downsize last year. That makes it very difficult for people without experience in hedge funds to enter the industry. However, many funds have said they will pick up hiring next year, and some funds are even hiring right now. The outlook for next year has gotten much better over the past six months. However, my fund is still not hiring right now.

What is your view on the job market in general?

The number of Americans who are either unemployed or no longer in the workforce has been increasing each month. It’s true that we are no longer seeing an acceleration in the rate of new unemployment claims, but it’s hard to see that as much of a positive. My outlook on the job market is that, while things should begin to improve next year, unemployment will not immediately revert to pre-recession levels, and I am concerned about the overall health of the economy going forward. I’m concerned about the job market as a result.

At this point in time, would you discourage people from entering finance?

I think now is actually a great time to get involved in finance, at least in certain areas. I think that the capital markets have been so depressed recently that, for bankers in leveraged finance, M&A, or any field that’s seen massively reduced activity, there will certainly be a bounce-back. And with head count lower, the compensation per employee might actually be higher down the line. I also think finance is a great place to be for young, driven professionals in search of a challenge, and I believe that there will always be room for the talented to succeed on Wall Street.

What steps could someone take to secure a finance job at the entry level right now in this climate?

Be exhaustive in your approach. Don’t be afraid to make phone calls to people who you barely know, or even don’t know, if you are certain that you want a job on Wall Street. My first internship in finance I got through a cold call to an alum of my school. He agreed to give me an interview and a chance to prove myself. If you are persistent and smart, something will stick. But the advice on being detail oriented applies to the application process as well – you can’t afford to make any mistake that will make it easier for people to shut you out.

In addition, a website like Doostang is a great tool for anyone looking for a job. Because there are such a limited number of available jobs out there at the moment, and because many of these jobs are kept within individual firms, it’s often difficult to find the positions you might want to apply for in the first place. It’s crucial to make use of every available resource you have at your disposal, and a job board that lists exclusive jobs at top firms certainly qualifies as a valuable resource.

So take it from the insider, if you’re considering entering the finance field – now is the time! And if you’re not sure where to begin, Doostang is there to help get you started with exceptional finance openings at all levels.

Happy Monday!
The Doostang Team

Share

Tags: , , , , ,

Getting into Stanford Graduate School of Business – What All Prospective MBA Students Need to Know

Dec 3

Posted by doostang in Advice & Tips, Doostang Press, Finance, MBA | No Comments

Considering Business School? Then surely Stanford Graduate School of Business has entered your mind. But do you know what it takes?

Watch this MBA Podcaster report about getting into Stanford GSB and see what Mareza Larizadeh, founder of Doostang has to say:

A journey to the Silicon Valley to Stanford GSB

Share

Tags: , , , ,

Accounting – Finance at a Second Glance

Nov 30

Posted by doostang in Accounting, Career Insights, Doostang News, Finance, Job Search | 1 Comment

Top Premium Jobs
Junior Analyst, Top-tier investment advisory firm, New York, NY
Strategic Marketing Intern, Exciting Internet Startup, San Francisco, CA
Fund Accountant, Leading Blobal Financial Services Firm, Dallas, TX
Economist, Medium sized, London based investment boutique, London, UK
Project Manager, Major Department of Public Health, Chicago, IL

More jobs we think you’ll like…

When many young professionals seek to break into Finance, they often focus solely on careers in the Banking sector. However, there’s much more to Finance than that. So Doostang spent some time with Sara Glickman of Ernst & Young LLP in order to learn a bit about the wonderful world of accounting and financial services firms.

Read on for refreshing, first-hand insight from a professional who knows this career track inside and out.

What were your reasons for choosing to pursue degrees in Finance and Accounting? What path ultimately led you to Ernst & Young?

I started college about as far away from the business school as possible, as a cell biology/genetics major planning to go into genetic research and counseling. However, once I had taken a class in the Smith School of Business at UMD I was hooked! The access to seminars and other learning opportunities with some of the most successful companies and entrepreneurs around (and potential future employers!) was wonderful, and really made me look forward to a career in business.

After Freshman year, I acquired my real estate license and began working as an agent just to help a family member sell their property, but I ended up sticking with it, and learned a lot about investing and the real estate market. It was the combination of the desire to learn more about investments and how businesses worked from the inside, along with the realization from school that many of the great jobs out there at the time were in the fields of Accounting and Finance, that made me pursue those two majors.

I had seen Ernst & Young giving presentations or at career fairs on several occasions, and also of course as sponsors of different charity and sporting events outside of school. I had an opportunity to intern at the firm over the summer, and I learned so much in just two and a half months!

Although I later applied for and obtained offers from several other accounting and financial services firms, I came back to E&Y after graduation because of the people, and the opportunity to work in many different fields and learn about many different companies–from the Fortune 500 to the smallest start-up–from the inside out.

Tell me a bit about your role at that company. What does any average day look like?

I’m not sure if there ever really is an “average” day here! I work as a Senior Auditor, so I plan and oversee the engagement, delegate the work that needs to get done, and review work from the staff while helping those Managers and Partners above me with whatever tasks they need assistance on, such as writing memos, technical research, or “tying out” the financial statements of the Company. We work on everything from testing internal controls to making sure the Company’s 10-K is accurate, supported and ready for filing on time.

There are also other project opportunities here and there, such as working on a bond deal or IPO for a client going public. I have several clients that I split my time between, depending on what time of the year it is.

The hours fluctuate as well–there’s a good amount of flexibility during the summer months normally, but the main audit busy season of January 15th to March 15th requires minimum 55 hour weeks; fortunately, the time usually flies by pretty quickly under the tight deadlines!

How can candidates without previous experience in finance differentiate themselves when applying for these opportunities? Can you offer any advice for young professionals that are interested in your field during these difficult economic times?

If you are looking to apply for a role in auditing or tax at one of the Big 4 accounting firms, you will need an accounting background–or willingness to work towards acquiring the classes and 150 credits required to sit for the CPA exam. However, there are other opportunities at the firms, such as in IT audit (testing and providing feedback on the systems of the Company), or advisory services that assist clients in finding business solutions to issues they may be facing, that do not necessarily require a background in accounting or finance.

My advice is, make sure your resume reflects how you may have contributed to improving upon a club/activity you were a part of, any leadership roles you have taken at other jobs or volunteer activity, and anything else about you that makes you stand out from the next candidate. If you speak another language, are an award-winning writer (good communication skills) or successfully planned your current company’s holiday event (shows leadership and ability to work well with others to meet a goal), don’t brush it off because it’s not directly correlated, just put a positive spin on it and make sure your resume is tailored towards the job you want! We all know these are tough times, but there are definitely jobs out there, especially with the good educational background you all have already.

How can well-educated, motivated young professionals take advantage of this moment? Where are the opportunities and what types of career paths are showing promise?

Unfortunately there’s been a lot of lay-offs recently, especially in the finance industry over the last few years, but I think motivated young professionals should take this as an opportunity to start again in a field they always wanted to try–take it as a second chance to follow a dream. Find out what you have to do to get there–go back to school, take a lower paying position at a different type of company, etc.–and do it.

There are definitely opportunities in the accounting field, as every business needs someone to keep track of the finances, and I don’t see that career path going away anytime soon.

If you’re looking to move into the field but don’t have any experience, start by applying for bookkeeping type of positions at a smaller company–you will learn a lot more about how the company works than if you take a job doing one specific task at a larger location, and will be much more marketable to other potential employers in the future.

So take it from the expert, if an accounting career interests you, now is a great time to explore everything that field has to offer. And if you never thought about accounting as a career path, give it some consideration now – it just might be a great fit.

Sounds interesting? Then make sure you check out some of the exceptional openings in accounting and finance that Doostang has to offer.

Until next time,
The Doostang Team

Share

Tags: , , , , ,

How to Break Into a Career on Wall Street – What Your Professors Didn’t (or Couldn’t) Tell You

Nov 10

Posted by doostang in Advice & Tips, Finance, Investment Banking, Job Search, Wall Street | 4 Comments

So – you think you want to be a banker, and you don’t know where to begin. Whether you’re still in college, a couple of years out, or already in an established career and looking for a change, it’s never too late to begin a career in finance. Finance is unique among many high-paying professions in that successful bankers come from a very diverse range of backgrounds. You don’t necessarily have to graduate from the most prestigious school, have the most impressive GPA, or complete a specific (or any) graduate program to make it. You simply have to have what it takes to get ahead and stay ahead in what has become one of the most competitive professions in the world.

Step 1: Do Your Homework

For many people, banking as a whole first comes to their attention by means of its lucrative and infamous salaries. There are few jobs out there that can garner as high a wage as a successful career in finance, but the field itself is very diverse and includes much more than your stereotypical private-jet-owning investment bankers. If you haven’t already, take a look through online resources detailing the differences between areas like corporate finance, financial planning, hedge funds, investment banking, and private equity to get a feel for what you might be interested in. Attend conferences, go to lectures, and if you can, pick up an internship. Since the recent financial crisis, Wall Street firms have been pulling more and more new hires from their summer and year-long internship pool, and taking an internship will allow you to explore and discover exactly which areas you might be interested in.

Step 2: Understand the Lifestyle: You are NOT in a 9-5 Desk Job

Readers beware: while a 6-figure salary straight out of college may seem like a dream come true, let there be no doubt in your mind that you will be working hard, long hours to earn those 6 digits. For those who choose to follow their hearts to the large firms of Wall Street, first year investment banking analysts have been known to work 100+ hours a week, running on nothing but ungodly amounts of Starbucks coffee. Think long and hard about what the position entails and why you are suited for it. Also, interviewers will be able to tell if you don’t actually know anything about the culture of finance when you come in. Do some research, ask around – know about the different fields and the different lifestyles attached to each one. Follow the news in finance beyond picking up a Wall Street Journal the night before you interview.

One [perhaps dramatized] example of Wall Street culture:

Step 3: Network Like Your Life Depends on It

Landing your first job at a bank is all about getting your foot in the door. Be proactive about meeting people wherever you go. Take business cards. Search your current network for people within the firm you hope to apply to. According to the US Bureau of Labor Statistics, 70 percent of all jobs are found through networking. Use resources like Doostang or LinkedIn to your advantage to search for positions and make connections along the way. Knowing people within a bank you’re applying to will be able to set you apart from the hundreds of applications that are received every year.

Step 4: Send in Your Resume, and Be Yourself

Unlike career paths in academia, jobs in finance, especially in areas like sales & trading, don’t always rely heavily on your academic credentials to gauge potential. A successful analyst or associate is often someone who possesses certain personality traits – like the ability to prioritize, to work well as a part of a team, and to take entrepreneurial initiative. If you think that finance is a field in which you will excel, go for it and have faith in your abilities! it may take an untraditional applicant a bit longer to move up and land the job that you want, but soon enough people will catch on to your potential and you will be on your way.

Step 5: If at First You Don’t Succeed

Like we said, a lot of breaking into finance is simply about getting interested, informed, and your foot in the door. If you really think that you’ve got what it takes to be successful, don’t give up until you get a chance to show your stuff. Once you’re in any kind of job or internship, you’ll be able to learn and move up in rank quickly if you have the right skills and personality. So don’t let a round of disastrous applications get you down. Try applying to a smaller bank or for a job in a related field first. Work hard at whatever you’re doing, continue to network, and chase after that job until you land it.

And our last bit of advice: just be honest. Be honest with yourself, and be honest with the people you meet. If there’s something you don’t know or are unsure about, say something. People are much more likely to care about you and your career if you are honest with them from the get-go. By approaching each situation with sincerity, enthusiasm, and integrity, you will be sure to nail your interview, land your job, and create a successful and fulfilling career.

Best of luck future Wall Street wanderers,

Team Doostang

Share

Tags: , , , , , ,

Doostang News: Job Search Oasis – Achieving Career Success in a Tough Market

Oct 25

Posted by doostang in Advice & Tips, Career Insights, Doostang News, Job Search | 1 Comment

Summer Intern – M&A Restructuring, New York, NY
Marketing Specialist, Los Angeles, CA
Strategy Consultant, Washington, DC
Private Equity Intern, San Francisco, CA
Business Development Specialist, Boston, MA

More jobs we think you’ll like…

Whether you’re set in your field or just aiming to break into a particular industry, moving forward in your career in this job market is no easy task.  Fortunately, there are resources out there that can set you on the right career path and guide you along the way.

And here at Doostang we’re bringing you some insider tips from one of these.  Read on for some career wisdom about finance, online businesses, resumes and more.

Doostang News October 26: Q&A with Patrick Curtis.

Doostang has recently partnered with Wall Street Oasis, an online community for finance professionals and those trying to break into the industry.   We got a chance to speak with its CEO and Founder, Patrick Curtis, who singlehandedly combined two seemingly unrelated industries – finance and web 2.0 – and created this informative resource.  And he has some invaluable insight on how to achieve success in today’s tough job market.

1) Tell us a little more about Wall Street Oasis. What inspired you, what is it’s purpose and what were you trying to accomplish with this site?

WallStreetOasis.com is an online community of finance professionals and students trying to break into Wall Street careers.  Our main purpose is to provide a place where young finance professionals can plan their next career move, let off some steam and help give advice to college students trying to follow in their footsteps.

I was inspired to start the site because I didn’t see any social networks that specifically addressed my questions when I was an investment banker.  I was looking to jump to private equity after two years and all the information I got (whether that was a list of recruiters, a compensation database or interview tips) was 2nd hand through co-workers and hearsay.  I felt that if I could establish an online community that took a more lighthearted and fun approach as well as start publishing guides that were more specific to this market, that I could fill a need.  I also knew from experience what some of the young bankers were going through (working 100hr weeks, a lot of stress and an uncertain future) and enjoyed providing a platform for them to speak their mind.

The community has continued its strong growth since 2006 even through the financial crisis.  We’ve built a loyal community that gives great career advice and insight into specific firms.  So far, we’ve released nine guides aimed at investment banking, private equity, venture capital, sales & trading and general career advice.

2) You have extensive investment banking and private equity experience. Why did you decide to shift from a more traditional finance route and focus on running an online community? What has this experience been like?

I made the shift from a more traditional finance route with the help of the entrepreneurial community here in business school.  I knew I really enjoyed running Wall Street Oasis but without the help from my classmates at Wharton and the entrepreneurial programs here, I would not have been able to make this a full time job.  I’m really excited to be able to work on the community full time when I graduate this May.  I was working on WallStreetOasis.com full time (without a full time job or classes) this past summer for the first time and we made a lot of progress — so I am confident that we can keep improving.

3) What were some challenges and what helped you along the way? What recommendations do you have for someone who wants to start a successful online community?

The primary challenge was finding the time to keep the site alive when times were tough and finding the right people to outsource some of the work.  There were several botched launches / upgrades, many attacks on the site and growing pains I had to manage while working 70-80 hour weeks.  I had no background in social networks so every day was a learning process.

If someone wants to start a successful online community I would give three main pieces of advice:

1.  Start early, stop planning.  What I mean by this is you don’t have to have all the bells & whistles that other more mature community sites have.  You can save yourself a lot of time and money by making sure there is enough interest first…most niche communities will be happy there is a place for them to go and will cut you some slack early on.

2.  Always Get Feedback and have an open dialogue.  I always try to get feedback from my users and they are brutally honest with me.  But that is what I want because a lot of our best ideas have come from my users.

3.  Find a Hook.  For Wall Street Oasis, the primary hook we used was a Compensation Database.  We keep this free but require a visitor to register to see it.  It is one of the ways we grow our community and I think it was one of the primary reasons we were able to achieve a critical mass early — which is crucial to any social network.

4) Wall Street Oasis claims that its ultimate aim is to inform. What would you say are the key points that someone with an interest in finance needs to know?

I think a lot of college students get wrapped up in rankings and prestige of Wall Street when they should really be focused on the type of job that will suit their personality best.  Yes, brand names have value on Wall Street like everywhere else in life, but if you come from a “non-target school” or don’t end up at Morgan Stanley or Goldman Sachs straight out of undergrad your life will go on and you can still be very successful.

It’s tough when you’re 22 and you see all of the talk about compensation and exit opportunities and X group vs. Y group.  I think sometimes this leads to information overload for these students and they have a skewed perception of what the industry is like.  I think in any highly competitive field people will occasionally romanticize the reality.

Other things being equal, obviously a high GPA and strong extra-curriculars will give someone an advantage in recruiting, but I would argue that finance is no different than any profession — those that learn how to network effectively and are the most persistent will ultimately rise to the top.

5) One of the services Wall Street Oasis provides is resume reviews where you personally review and give feedback on people’s resumes. Having seen thousands of resumes, what would you say are the most common resume mistakes people make and what are some ways to fix them? What makes a stellar resume?

We actually have a very famous discussion on our forums related to this exact topic titled More Classics from Resumes and Cover Letters. While somewhat harsh, this is the reality of the resume screening on Wall Street.  Analysts are often in charge of the initial screen and overselling, over-embellishing, or trying to “sound smart” can push your resume to the trash pile very fast.  Sometimes, in an attempt to impress, students cross a line and actually hurt their chances.

Other common mistakes are simple formatting / spelling errors.  Every resume needs to be printed out and reviewed several times in hard copy to make sure everything is aligned (just like a banker would).

A stellar resume is when the candidate is strong (high GPA, target school, good scores, relevant classes) and they also get involved on campus and hold a few leadership positions.  It is more important to have a few extracurricular activities that you excel in rather than being a member of 10 clubs where you play less of a leadership role.  Another attribute of a stellar resume is that each and every bullet should have a purpose and communicate an accomplishment or a responsibility held by the candidate with concrete facts / numbers / figures.  Come interview time the candidate should be able to elaborate on each of these bullets comfortably.

6) Many Doostang members are seeking a career in finance. What advice would you give to someone looking for employment in the financial sector? Can you provide some insight into the industry or the hiring process?

This is THE most difficult year I have ever seen recruiting wise.  So my main advice this year is to be patient and look for a backup.  It is important to realize that a lot of firms have a hiring freeze on or are only hiring a few candidates.  Even at target schools, where investment banks and consulting firms traditionally hire most of their work force, the competition this year will be fierce.  If you don’t get something immediately make sure you keep working your contacts, the alumni network and think of creative alternatives.  Can you go back to school for another degree?  Can you do some work abroad?  Can you work on a family business or try a start-up?  I would also highly recommend using services like Doostang to expand your network and stay up to date on opportunities that are a match for you.

And there you have everything you need to make your career prosper in this economy – some exceptional inside advice on achieving success in today’s market and Doostang to give you the best career opportunities.

Now go out and get them!

Team Doostang

Share

Tags: , , , , , , ,

Doostang News Sept 28: Consulting the Experts

Sep 28

Posted by doostang in Advice & Tips, Career Insights, Consulting, Doostang News, Job Search | 1 Comment

Marketing Research Assistant, Philadelphia, PA
Private Equity Investment Intern, New York, NY
VP – Consultant Relations, Los Angeles, CA
M&A Analyst, San Francisco, CA
Major Gifts Director, Washington, DC

When it comes to advancing in your career path, extensive personal research and preparation can give you a great head start, but insight from someone already a few steps ahead can really propel you forward.

Here at Doostang, we know that singlehandedly catching up to people in high places (especially those involved in the hiring process) and asking them for behind-the-scenes career advice is no easy task. So we’re bringing the insider tips right to you.

Consulting the Experts.

We spoke with Dan Grabell who is currently hiring in the healthcare consulting industry at Bridgehead International, a widely-known and globally recognized boutique consulting firm. Read on for some tried-and-true methods that can help you get the upper hand and a behind-the-scenes look into the strategies that candidates have successfully used to land jobs in this challenging industry.

Tell us a bit about your firm – what do you specialize in, and what should someone know about your firm prior to applying for this job?

Bridgehead International is a globally recognized provider of strategic consulting in the pharmaceutical, biotechnology, and medical device and diagnostics sectors. Our key services include pricing and market access strategies, opportunity assessment, and transaction support. The firm was originally founded in the United Kingdom in 1994. We currently have offices in downtown New York City, Boston, London, and Melton Mowbray (UK). Bridgehead was recently voted as the UK Strategic Advisor of the Year – Health Care by ACQ Finance Magazine.

From a candidate’s perspective, what are the most important responsibilities associated with this position? What would a ‘typical day’ look like?

There is no typical day at Bridgehead. Consultants usually arrive at the office and start by checking up on the status of projects they are working on, which may have changed overnight, since our offices in the UK and US frequently collaborate on global projects. Then we begin working our way through the project tasks on deck – whether it’s developing a client presentation, creating an interview guide for a market research project, or researching a therapeutic area and its competitive landscape. Other key project tasks include conducting telephone discussions with key external healthcare stakeholders and developing financial models for a transaction support project. Periodically throughout the day you may field client calls, scan the latest news for developments relevant to you project areas, or have a teleconference to help out another project team in an area where you’ve developed a particular expertise. At 3 pm, we generally take a small break to sample the cookies that are provided each day before getting back to the task at hand. By the end of the day, you are tired but have a feeling of accomplishment. The nice part about being a consultant at Bridgehead is that travel is limited to when it’s essential. Most of our meetings with clients are conducted by teleconference which provides a great work-life balance.

Can you provide a little insight into the hiring process? Do you have any suggestions for jobseekers that are interested in differentiating themselves? In your opinion, which personal traits/qualities/attributes stands out most during the hiring process?

As a boutique firm, candidates get the opportunity to meet everyone in the office they plan to join. For New York, applicants begin by submitting their resume to nyc.careers@bridgehead.com. The resumes are reviewed by consultants in the NY office and candidates that meet the criteria for a particular opening will be called and scheduled for one or two phone interviews. If the phone discussions go well, we then schedule in-person interviews so that the candidate can develop a feeling for Bridgehead and vice versa. In person interviews involve a mix of fit and case-style interviews, in which the candidate will work through a business problem presented by the interviewer. After reviewing all the candidates the team makes a decision and extends an offer.

Candidates that stand out best demonstrate a long standing interest in and knowledge of health care. Our typical candidate for the analyst/senior analyst role has an undergraduate degree in a science area and has 1-4 years experience in consulting or at a life sciences company. Senior analysts often have a master’s degree in a life science area or in public health. To stand out, a candidate should be a creative thinker, have strong analytical abilities, excellent oral and written communications skills, the ability to manage several projects at one time, be able to take the initiative without direct supervision, and have strong client relations skills. We also value foreign language capabilities (e.g. fluency in Mandarin).

Is there a particular approach that candidates should take when preparing for an interview? In today’s job market, what would qualify as going ‘above and beyond’?

Candidates should be themselves and be prepared to talk about their experiences and background, about why they are passionate about being in consulting and why they want to work at Bridgehead. Of course the usual logic applies that the candidate should research the firm and know about the current issues in our industry. In my experience, the best candidates differentiate themselves by providing value during the interview process. One candidate developed a situation analysis of a therapeutic area she knew best. The proposal was very detailed and truly made an impression on me.

It is essential that candidates have interest and experience in both business and healthcare. Those particularly strong from a clinical perspective should expect to provide details of their business experience. Conversely, for those with primarily business/commercial experience, we will look to understand their interest in health care and pharmaceuticals.

Let’s assume that someone has been chosen for this role. What advice would you give to a new hire who was interested in building a successful career with your firm? Is there anything you have learned along the way that you’d like to pass down?

Being a boutique firm, we offer people the chance to take on a lot of responsibility fairly quickly, and being flexible is critical. We all take on a number of roles in any given week. In the same day I can be the project leader on one project and a contributor with a different project. Learning to adapt to the situation is critical to success at Bridgehead and most consulting firms. The other advice I have is some that my Mom used to say when I was growing up “You have two ears and one mouth; you should use them in that ratio”. In my experience, everyone has the ability to teach me something and I love learning from all of my colleagues.

Most importantly, I should say that we are looking to hire an analyst or senior analyst. I will be posting the job in the next few weeks on Doostang.

As you can see, the opportunities are out there. Provided you’re prepared, all you need to do is find them. And we make that easy – for access to the crème de la crème of job openings, visit us at Doostang.

Wishing you much career success,

Team Doostang

Share

Tags: , , , , , , ,

Doostang News Sept 15: Career Insights from the Pantsmakers – What Constitutes Success.

Sep 15

Posted by doostang in Advice & Tips, Career Insights, Doostang News, Start-ups | 1 Comment

Top Premium Jobs
Field Ninja – Sales Professional, San Francisco, CA
Investment Banking Intern, New York, NY
Human Resources Generalist, Chicago, IL
Portfolio Strategy Associate, Boston, MA
Director of International Expansion, New York, NY

Fall is here, meaning it’s time to put away those beach shorts, put on some dress pants, and get back to work. But if achieving career success seems as challenging as finding a pair of good fitting pants, we have great news.

Don’t despair – thanks to a fantastic new partnership with Bonobos, we’re able to offer you some much-needed career wisdom from inside an innovative, successful company…and even a discount on some amazing pants!

Here at Doostang we’re big fans of exceptionally well-run businesses with quality products, outstanding service, and an entrepreneurial spark – and Bonobos embodies just that. Started as a small project by two guys with a big vision, Bonobos has grown into a global online clothing brand.

We spoke with Dave Eisenberg, Director of Growth at Bonobos, who offered some career wisdom on what makes a successful company and job candidate. So if you’re looking to start the next exceptional business, or just want to work for one, believe us, it’s in your best interest to keep reading.

Career Insights from the Pantsmakers – What Constitutes Success.

On its site, the staff at Bonobos asserts that they are trying to build “a different kind of clothing company?” Can you share a bit about how Bonobos got started and what the initial goals were?

Bonobos got started the way a lot of companies get started: with a good idea and a lot of persistence. Brian [Spaly - founder] wanted to make pants that fit better and were more flattering, made from the world’s best fabrics. Andy [Dunn - founder] wanted to get guys out of retail stores! For Andy, retail shopping is a frustration, and he knew there was a better way. We put those two ideas together: selling premium trousers with a direct-to-consumer model online with fantastic customer service. The fashion world is full of companies where it’s all about exclusivity. Bonobos is more inclusive–you don’t have to live in New York or Paris to enjoy Bonobos. You don’t have to be a rail-thin runway model or a millionaire. We have customers in every state and about four dozen countries abroad. That’s a new thing for a premium brand.

On that note, how did founders Brian Spaly and Andy Dunn go about accomplishing these goals? Which factors were most crucial to the early success of the company?

The factor that was–and continues to be–most important to our growth is word-of-mouth marketing. For the most part, guys love the pants, and they enjoy shopping with us because we keep it hassle-free. Then they tell their friends. We have a very loyal following because we’ve grown in a grassroots way. Our team actually grew in a similar fashion. Over the past 18 months we have been searching for other bright, enthusiastic people to join our team. So while we now have a company of about 25 individuals, we haven’t lost that spark of entrepreneurial energy that got us going in the beginning.

Moving forward, how has Bonobos evolved? What have you, as a company, done to build upon the early foundation from which you rose?

I think the most obvious places that we have involved are with our products and our technology. We now offer about 40 different trousers across many fabrics–cotton twill, two weights of corduroy, various wools and wool blends, seersucker. Not to mention shorts, and soon polo shirts. We’re expanding to become not just a trouser company, but a true men’s lifestyle brand. We’re a long way away, but we’re thrilled to be working toward that goal.

With technology, we still aim to be the world’s first 100% web-driven premium men’s brand. Now, though, we have a team to help make that vision a reality. We have been able to recruit four phenomenally talented developers and designers to help create the best shopping experience on the web.

From the perspective of a Doostang community member, what do you think can be learned from “the Bonobos example?” In other words, do you believe that there are any lessons or overarching themes that motivated, young professionals might draw from Bonobos’ story?

We try and hire people who can come alive in a certain role. It is our belief that businesses succeed when the people who work on them on a daily basis are fired up about their jobs! When you pour a lot of genuine passion into a project, you tend to be more successful, because you bring a real authenticity to bear around your final product. If you’re an entrepreneur, you have to be willing to take your product or service right out to people. We sold pants out of the trunks of our cars in the very beginning. Make your product or design your service, get it out in the field, make some mistakes and learn from them. Keep your customers involved in their iterative processes and never stop learning how to make your company better.

Getting more to the point, what stands out among candidates that are seeking to be hired by Bonobos? Which qualities would the ‘ideal new hire’ need to possess?

The best candidates that we see are those who have taken the time to learn about our business before they show up for an interview and who turn a thoughtful, critical, eye to everything that we have done and bring some great ideas for what we can do to become more effective. We look for enthusiasm, humility and great listening skills in all of the people who we seek to bring onto our team! Take a look at our open opportunities here and let us know if you’d like to be a part of our team!

And there you have your recipe for success. All you need is the winning combination of enthusiasm, persistence, entrepreneurial spirit, and insight. And a good pair of pants, of course…

So visit Doostang to start investing in your career. But first make sure you invest in a pair of good fitting pants. Trust us, you’ll need them for that dream job…

Wishing you a well-tailored career,

Team Doostang

This week, Doostang users can get 20% off their Bonobos purchase. Just enter coupon code “Doostang” at check out. But hurry, this special offer ends September 21st.

Share

Tags: , , , , ,

Doostang Talks Money – MBA Salaries in the Current Economic Climate: Investment Banking and Private Equity

Aug 26

Posted by doostang in Doostang Press, Finance, Job Search | No Comments

Curious about the payoff for Finance careers? Mareza Larizadeh, Founder of Doostang, recently sat down with MBA Podcaster to discuss recent MBA salary trends.

Listen to the full interview here:

MBA Salaries in the Current Economic Climate – MBA Podcaster

Share

Tags: , , , , ,

Doostang News Aug11: An Education in Teaching

Aug 11

Posted by doostang in Advice & Tips, Career Insights, Doostang News, Education, Job Search | No Comments

Top Premium JobsEducation Nonprofit Director of Communications, NY & DC
Commercial Energy Consultant, New York, NY
Biz Dev Director – New Media, San Francisco, CA
Undergrad Strategy Consultant, Boston, MA
Special Projects Manager – Philanthropic Fund, London

School may still be out for summer, but for recent graduates looking to begin careers as teachers, class is in session until further notice.

A successful teaching job search is like a part-time job itself, according to Washington University Graduate David Schwartz, who aspires to be a middle school teacher. David graduated with a BA in 2008 and an MA in 2009. He’s now parlaying his experience as a student teacher and intern into that first job.

We talked with David about his search strategy and what has worked for classmates who have already landed jobs. Not surprisingly, it takes discipline to conduct a thorough search and, once you land a teaching position, discipline (in the classroom) to keep it. Read on to learn how to begin your job search in the education sector.

Getting into Education with Wash U Graduate David Schwartz.

When and why did you decide you wanted to be a teacher?

When my classmates started coming to me for help in 7th grade, I realized that I was good at explaining things to others, and I liked it. I knew then that I wanted to be a teacher.

What has it been like experiencing the economic downturn as a student, and now as a graduate looking for a job?

As a student, I did have a limited budget, so more money had to go to food, and I had less money for other things. But in some ways, I haven’t been as affected by this economic downturn as those who have experienced “good times.” I’ve never been a graduate student or come out of school at any other time, so I have no basis for comparison. In my job search, it has made things more difficult because more people are going into education who had left the field, and so there’s more competition for the same jobs.

What’s worked well for you in your job search?

What’s worked well for me is leveraging my human resources. I have certain geographic areas that I’m interested in, so I have asked friends who are from those areas, or who still live there, for school recommendations and advice about living in those places. When I know people who went to the schools I’m looking at, I ask them to write short notes of recommendation.

The other thing I’ve done is send out a lot of applications, but I have carefully tailored each cover letter by looking at the school’s mission statement or district goals and finding three points I can say I’m qualified to address. It’s the old five paragraph essay.

What advice do you have for those looking to pursue teaching as a career?

When I look at my college friends who have been successful in their job searches, the common thread is that they jumped on the process early, starting in late January or over winter break.

And they’ve used a job search process that works.

Start by identifying where the jobs are posted that you want to pursue. Identify specific schools you are potentially interested in, based on location and whether you want public or private, and learn as much as you can about those schools. Keep separate documents and folders on your computer for each school/district.

Once March rolls around, start checking the websites where jobs are posted on a daily basis so that when something comes up you can jump on it quickly. Keep a master list of every school you contact, what you send them in your application, who the application is addressed to and a phone number for the school. Call them a week later to follow-up and ask a few questions, including the timeline for filling the position. Use this as an opportunity to express how interested you are in the position, and then write this down on your master list along with every subsequent contact you make with the school.

Thinking of the job search as a part-time job will put you in the mindset to give the search the time it needs to be successful.

You just came back from an out-of-town interview. How do you suggest preparing to give a good interview?

First of all, go in wanting the job. Period.

Wear a business suit and look the part. Make sure that your nails are clean and clipped.

You should have a good answer to the question, “Why do you want to work here?” Use the Web to find something you like about the school. Know the mission statement and think of how it relates to your approach to teaching. Have two strengths and two weaknesses ready, in case they ask for more than one. For your weaknesses, be ready to talk about what you’re doing to address them. Do NOT mention classroom management, even if it is a weakness.

If they say, “Tell me about yourself,” at the beginning of the interview, they are really asking, “What can you bring to this job, and why should we hire you instead of somebody else?” It’s perfectly fine to drop in character traits and experiences you’ve had that will help you in the classroom. It’s even better to drop in what you’re passionate about (such as a subject and/or age level) and what you’ve done with that passion.

A prompt thank-you note is a good way to stay in their head, even when they’ve moved on to interviewing other candidates. E-mail will work, but handwritten is better.

What is your future career plan, and what is your strategy for making it happen?

My future career plan begins with getting my first job as a middle school teacher. Once that happens, I plan to stay in the classroom for a long time. To make all this happen, my strategy is to impress my interviewers enough that they hire me (including having a good answer as to why I want to work at that school), and then develop a classroom management plan so I’m not fired on grounds of not being able to control my class.

Working your network to find connections at the educational institutions, or any organization where you’re applying can help you get in the door for an interview. Try a people search on Doostang to find connections who attended or work for the places you want to be.

And don’t forget to write thank-you notes to the people who have written you recommendations or made a call on your behalf. You never know when you’ll need to contact them again for help in your next job search.

Enjoy your August!

Team Doostang

Share

Tags: , , , , ,