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Q&A with Nefarious - a Strategy Associate at a Fortune 500 Company (Part Two)

Points)

on 12/8/12 at 11:30am

Following up my my post from last Thursday , I'm here today with part two of my interview with Nefarious.

For those of you that need a refresher, Nefarious is a Strategy Associate at a global Fortune 500 aerospace & defense company. Check out part one of my interview with him for some great in-depth information on how he broke into his role, what he does from day to day, and the pros and cons of working in Strategy along with some great follow-up Q&A in the comments.

In today's post, we cover tips on breaking into Strategy roles, potential exit opps for Strategy professionals, and his views on both the defense space and the fiscal cliff.

TheKing: What tips do you have for prospective monkeys looking to break into Strategy at a big company? Anything you wish you knew when you went through the interview process? What does your company look for in prospective hires?

Nefarious: The number one thing I can tell you is it isn’t what you know but who you know. On paper, I am not that impressive. Small tech firm experience, non-target top 50, mediocre GPA. Network and get yourself in front of the right people. Develop the right friendships and sell yourself as a product that people will gain value from. It’s never too late to change directions. Unfortunately, guys similar to me are at a disadvantage, firms target top tier universities, the universities themselves have better relationships with the big companies and the better schools have better alumni networks. Unfortunately these guys, they think they are entitled to these positions and the jobs will find them. Take advantage of their arrogance and strike before them.

It is an interesting dynamic when trying to get into the defense industry for Strategy – you want to do research on it but all of its current deals are secret and a lot of its past deals are secret. Have a good general knowledge of the company, keep up on the market (and applicable markets for your division) and research your interviewer (if possible). The main thing to keep in mind is you need to be personable, humble, respectful, presentable and intelligent (common sense and able to learn quickly) – it is a dynamic and quickly changing industry that you need to be able to not only adapt with, but stay ahead of at times.

TheKing: How about exit opps? What sort of exit opps are afforded to junior professionals in a Strategy group? Any opportunities to work in a management capacity?

Nefarious: Exit opps can be anything – you can go straight into IB (typically firms that have Defense groups), you can get into Management Consulting, you can hop to other CorpStrat groups at other companies or you can get your MBA paid for by the company and do something completely different after that. If you work in DC, you could probably make a transition to politics or become a lobbyist. The opportunities seem to be endless in the DC area. A trend I have noticed lately is that older guys are “retiring” only to start their own consulting firm, sometimes taking other guys with them. If you are interested in getting in on the ground floor of something like that, that seems to be an exit opp right now.

Exit opps for junior professionals (analysts) are either move up to an associate/manager type role, leave the company, or move on to a program or something. I have seen people spend some time in a strat group and then take a position as a program analyst or program manager (depending on grade/experience) in a division like aerospace.

Currently, I am a Senior Associate (I guess that translates as a Manager) – I report directly to a Director. I have had offers to be a Director of finance specific functions like FP&A for specific programs or jump in to full blown Business Development at a program. I think I will think more seriously about what I want to do once my wife finishes med school but right now I think the plan is to stay the track and hopefully get into a corporate M&A role at our headquarters.

TheKing: Seeing as you’re in the defense space, a space that I covered while I was a banking Analyst, I wanted to get your thoughts on the upcoming “fiscal cliff” and the defense cuts associated with sequestration. Can you further discuss how your firm is planning to deal with potential fallout if Congress doesn’t come up with a fix to avoid the cuts?

Nefarious: This will have a different outcome for different divisions. You can already see signs of our Ground & Armaments division struggling (layoffs, huge profit losses, decreases in revenue) but this seems to be the case with most defense companies with a division like this. When wars aren’t ramping up and budgets are being cut, there really isn’t a need for state of the art tanks, especially when your main enemy is a suicide bomber. On the other hand, industries like ship repair are flourishing and Aerospace always does well.

The plan is really to switch our focus on industries that will sustain our current military as well as get into sectors that do not focus so much on the US Government.

TheKing: What are your long-term views on the defense space? Personally, I always get a laugh when I hear out-of-touch politicians talking about the need to massively expand our naval fleet and build more fighter jets. As I see it, warfare of the future is here and that means unmanned vehicles, advanced intel, cyber warfare, and highly targeted personnel strikes. What’s your view?

Nefarious: You’re exactly right. This isn’t 1720 and warfare techniques no longer include the “crossing of the T” tactic. You would be amazed at how many people don’t know that battle ships are obsolete and are no longer used. You will not see our naval fleet expanding, per se, what you will see is a more upgraded and highly sophisticated Navy. The Navy is important for a few reasons:

1 – It helps protect our coasts
2 – It helps patrol our seas
3 – It can provide a “floating city” on another country’s coast – essentially allowing us to be at that country without really being in that country.

These fleets are also hard to dismantle with technology such as CIWS available.

Although, none of that seems to matter if you are an oil tanker.

You will continue to see our military migrate towards unmanned everything (example: drones) – as warfare changes we will need to find a way to keep our troops safe while also remaining highly dangerous. Drones provide that opportunity.

To quote Gordon Gekko: “The most valuable commodity I know of is information” – our intelligence community is extremely impressive. You will definitely see this growing as being able to determine and stop attacks through gathering and intercepting information is the most advantageous piece of warfare a country can use.

TheKing: Are there any stocks in the space that you’re bullish on?

Nefarious: I am not a huge stock guy. I think L-3 Communications is a solid, stable company. General Dynamics and Northrop seem to be staying the course as well. I also like Lockheed and UTX. Boeing is always a safe bet as well.

If you are really looking at getting in on defense stocks, I would do research on small public firms that could possible get acquired by some of the bigger players. Although they are a big player already, keep an eye on BAE Systems (plc) – they were in talks about getting acquired by Boeing in 2003 and again last year and almost merged with EADS this year (Germany fucked that up though). It seems like their big goal for the past ten years has been sell or merge.

TheKing: Do you have anything else you’d like to share with the community?

Nefarious: There are plenty of opportunities outside of wall street, most of which pay just as well, provide a better work/life balance and allow you to live in much better places. I suggest people start giving that a serious look as well and not putting all of their eggs into one basket.

_______________________________________________________

That's all, folks. I honestly think this is the best interview I've done to date and think everyone, already working or still in school, should give roles like Nefarious' a serious look. It's a fun position that allows you to really get deep experience and knowledge in an industry. And thanks again to Nefarious for taking the time to do the interview.

If you've got any additional questions, leave them in the comments. And don't forget to check out part one of the interview.

Check out my WSO Blog

Tags:

Comments

Again, I'll be around to

Nefarious-

(Neanderthal, 2,208

Points)

on 12/4/12 at 2:54pm

Again, I'll be around to answer any questions or PMs you guys might have.

Thanks for doing the interview King, it was great.

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.

Solid interview once again

Bobb

(Senior Gorilla, 929

Points)

on 12/4/12 at 3:01pm

Solid interview once again

Great interview! Thanks to

leveragealltheway

(Senior Baboon, 236

Points)

on 12/4/12 at 3:33pm

Great interview! Thanks to both of you. I had a question about interviewing for strategy positions. Were they mostly technical? Mostly behavioral/fit? If you had to prepare for one knowing what you do now, how would you go about it or what would you do differently from before?

"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts." - Bertrand Russell

^I am curious about this as

snakeplissken

(Orangutan, 330

Points)

on 12/4/12 at 3:42pm

^I am curious about this as well.

Also, if someone was already working in corp fin / a BB's finance division (since you said this provided a good set of skills for a position like yours), how would they make the jump to a F500 company? Aside from university recruitment, is there a formal process for this, do you just apply online, or do you pretty much have to know someone on the inside already?

On another note, thanks for the interview. Really interesting to read about some alternative paths to banking.

Remember, once you're inside you're on your own.
Oh, you mean I can't count on you?
No.
Good!

leveragealltheway: Great

Nefarious-

(Neanderthal, 2,208

Points)

on 12/4/12 at 4:25pm

leveragealltheway:

Depends on the group and person doing the interview. There really isn't a set standard across the board. For us, we mainly care about you being able to interact with internal and external customers intelligently, on both a professional and personal level. Technicals can be taught, being "street smart" and business savvy cannot.

Well if I had to prepare for one today, I would prepare the same way I prepared before I went into the position, by being myself and bringing the knowledge and background that I have to the table. Don't try to prepare and over prepare. Know your resume, know yourself and know your skills.

snakeplissken: ^I am curious

Nefarious-

(Neanderthal, 2,208

Points)

on 12/4/12 at 4:31pm

snakeplissken:

^I am curious about this as well.

On another note, thanks for the interview. Really interesting to read about some alternative paths to banking.

I have said this a few times. You need to know someone. Applying online will get you no where. Literally no where. No one has ever applied online and gotten a job from it. Most public companies have the online req because it is a requirement. Even when you know someone on the inside, they will tell you to apply online to help move the process along, but you will never get your resume moved from point A to point B on the online application form without having an in.

I've gotta rebut that. I'm

wallstreetmonkey85

(Senior Chimp, 21

Points)

on 12/4/12 at 4:47pm

I've gotta rebut that. I'm in Corp Dev now and got multiple Corp Dev interviews with F500 and other large companies applying online without having a single connection at the company.

You are at the mercy of an HR person or some kind of keyword screener, but it can be done. Obviously, it is much much more advantageous to know someone, but saying "literally no where" is not right.

I didn't even see this - "No

wallstreetmonkey85

(Senior Chimp, 21

Points)

on 12/4/12 at 4:49pm

I didn't even see this - "No one has ever applied online and gotten a job from it" - I had absolutely 0 connections at the company I am at now prior to interviewing and applied online (albeit from linkedin)...

wallstreetmonkey85: I've

Nefarious-

(Neanderthal, 2,208

Points)

on 12/4/12 at 4:49pm

wallstreetmonkey85:

I've gotta rebut that. I'm in Corp Dev now and got multiple Corp Dev interviews with F500 and other large companies applying online without having a single connection at the company.

You are at the mercy of an HR person or some kind of keyword screener, but it can be done. Obviously, it is much much more advantageous to know someone, but saying "literally no where" is not right.

That's fantastic that it worked for you, but I can pretty much promise you it is a rare thing and I have never heard of it happening at my company.

I know you're just being

wallstreetmonkey85

(Senior Chimp, 21

Points)

on 12/4/12 at 4:51pm

I know you're just being hyperbolic but I don't want to discourage anyone, especially those looking to try to get into Corp Dev from IB. I agree it's likely very rare.

wallstreetmonkey85: I didn't

Nefarious-

(Neanderthal, 2,208

Points)

on 12/4/12 at 4:55pm

wallstreetmonkey85:

I am sorry, but what is your point as this really isn't adding value to the topic at hand. I am glad that you applying online happened to work out for you but I can assure you that is never the case, especially not at my company.

Why would we ever actively seek someone out that just throws their hat in the ring and hopes someone follows up with them? That right there is the exact type of person we are not looking for. If and when we have ever recruited outside the company it has come from someone seeing a req and finding some way to contact someone in the group. We have never even interviewed someone that simply applied online.

I'm not trying to hijack your

wallstreetmonkey85

(Senior Chimp, 21

Points)

on 12/4/12 at 5:02pm

I'm not trying to hijack your discussion but you stated something as fact that simply wasn't true, which I can directly rebut.

Let's just leave it that it is much better to have connections at a company when you're applying.

Generally, unless you've got

TheKing

(Senior Neanderthal, 5,141

Points)

on 12/4/12 at 5:21pm

Generally, unless you've got a serious Prime Time resume with all the right experience and brand names on it, it'll be tough to get a strategy type of role using only the online application system.

I've also had some minor luck getting interviews via company online apps, but way more when going through a service like LinkedIn or Doostang or something like that. I've also been dinged without even so much as a phone call and I've got pretty solid MM banking and MM PE on my resume. It's a rough world out there, folks.

Check out my WSO Blog

TheKing: Generally, unless

Nefarious-

(Neanderthal, 2,208

Points)

on 12/4/12 at 5:57pm

TheKing:

Generally, unless you've got a serious Prime Time resume with all the right experience and brand names on it, it'll be tough to get a strategy type of role using only the online application system.

Shit, I have put my resume into online apps without even so much as the courtesy of the computer generated ding email.

It is part of the reason I stress networking so much.

Thanks for the interview. I

extrememonkey

(Senior Chimp, 26

Points)

on 12/4/12 at 6:29pm

Thanks for the interview. I happen to have a solid contact in Aerospace and Defense who would be willing to help me break in. I've asked about strategy before and he says that I need to get into an entry level finance position in the company and work hard and then make the switch to strategy. What do you think is the best entry level job to transition over or would it be best to go through a FLDP program?

Are there preferred majors?

wolverine19x89

(King Kong, 1,844

Points)

on 12/4/12 at 7:47pm

If your dreams don't scare you, then they are not big enough.

"There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.

extrememonkey: Thanks for the

Nefarious-

(Neanderthal, 2,208

Points)

on 12/4/12 at 7:48pm

wolverine19x89: Are there

Nefarious-

(Neanderthal, 2,208

Points)

on 12/4/12 at 7:49pm

Nefarious- I am joining a F50

AsianMonky

(Orangutan, 339

Points)

on 12/4/12 at 10:53pm

Are there ex-consultants

petergibbons

(Senior Gorilla, 882

Points)

on 12/5/12 at 12:01am

Life, liberty and the pursuit of Starwood Points

AsianMonky: Nefarious- I am

Nefarious-

(Neanderthal, 2,208

Points)

on 12/5/12 at 8:00am

petergibbons: Are there

Nefarious-

(Neanderthal, 2,208

Points)

on 12/5/12 at 8:02am

Nefarious-: extrememonkey:

AllDay_028

(Senior Orangutan, 452

Points)

on 12/5/12 at 9:01am

Also, Nefarious, interesting

AllDay_028

(Senior Orangutan, 452

Points)

on 12/5/12 at 9:04am

AllDay_028: Also, Nefarious,

Nefarious-

(Neanderthal, 2,208

Points)

on 12/5/12 at 9:24am

Great interview Nefarious.

SECfinance

(King Kong, 1,414

Points)

on 12/5/12 at 2:27pm

SECfinance: Great interview

Nefarious-

(Neanderthal, 2,208

Points)

on 12/5/12 at 3:53pm

Great stuff, Nefarious.

In The Flesh

(Neanderthal, 2,792

Points)

on 12/8/12 at 11:30am

Head of Metal Website: www.headofmetal.com

https://twitter.com/headofmetal2012

In The Flesh: Great stuff,

Nefarious-

(Neanderthal, 2,208

Points)

on 12/8/12 at 4:36pm

Thanks for taking time out to

BlaU LicHT

(Chimp, 6

Points)

on 12/8/12 at 7:27pm

BlaU LicHT: Thanks for taking

Nefarious-

(Neanderthal, 2,208

Points)

on 12/8/12 at 8:00pm

nefarious, great threads. not

West Coast Analyst

(Orangutan, 292

Points)

on 12/14/12 at 12:07am

huethan: nefarious, great

Nefarious-

(Neanderthal, 2,208

Points)

on 12/14/12 at 2:42pm

What would you recommend

wolverine19x89

(King Kong, 1,844

Points)

on 12/14/12 at 3:06pm

If your dreams don't scare you, then they are not big enough.

"There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.

Nefarious-: huethan: nefari

West Coast Analyst

(Orangutan, 292

Points)

on 12/14/12 at 4:24pm

huethan: Nefarious-: huet

Nefarious-

(Neanderthal, 2,208

Points)

on 12/14/12 at 4:38pm

Tertiary: as a guy about to

Nefarious-

(Neanderthal, 2,208

Points)

on 12/19/12 at 8:26am

hey nefarious - thanks for

hamm0

(Baboon, 173

Points)

on 1/3/13 at 8:52pm

Thanks a ton, Nefarious.

jjjjl241

(Baboon, 135

Points)

on 1/25/13 at 11:04pm

TheKing: Nefarious: Exit opps

taugei

(Monkey, 35

Points)

on 2/14/13 at 11:27am

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The Company makes no claims that the Materials may be lawfully viewed or downloaded outside of the United States. Access to the Materials may not be legal by certain persons or in certain countries. If you access the Web Site from outside of the United States, you do so at your own risk and are responsible for compliance with the laws of your jurisdiction. These Terms and conditions are governed by the internal substantive laws of the State of New York, without respect to its conflict of laws principles. Jurisdiction for any claims arising under this agreement shall lie exclusively with the state or federal courts within New York, New York. If any provision of these Terms and Conditions are found to be invalid by any court having competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of these Terms and Conditions, which shall remain in full force and effect. No waiver of any term of these Terms and Conditions shall be deemed a further or continuing waiver of such term or any other term. Except as expressly provided in additional terms of use for areas of the Web Site a particular "Legal Notice," or Software License or Material on particular Web pages, these Terms and Conditions constitute the entire agreement between you and the Company with respect to the use of Web Site. No changes to these Terms and Conditions shall be made except by a revised posting on this page.

PRIVACY POLICY

The Company recognizes that you are concerned about privacy. We are committed to preserving your privacy and safeguarding your sensitive information. The following statement describes the general information-gathering and usage practices of our sites.

Our staff, contractors, Internet service providers and others involved in this site follow this policy or similarly strict policies regarding your Information.

Disclosure

The Company is committed to fully disclosing our policies regarding the collection, use, maintenance, disclosure and security of personal information obtained from users of our site. The term "personal information" includes a name, address, email address, or any other information which could be used to contact you directly or to identify you personally.

Use and Disclosure Limitations

The Company only uses personal information about its Web site users for specific purposes. We do not share user information with third parties except when we have told users about the disclosures, when we have prior consent, or when required by law.

Use Policy: When the Company gathers personal information from users, we ask for permission first. We also disclose, at the time of collection, how the information will be used by us. Personal information is used for activities such as auto-completion of commonly-used forms and helping us contact you when you solicit information from us.

Disclosure Policy: We do not normally disclose personal information to anyone outside of the Company unless we have previously informed users about the disclosures. However, some data may be used from time to time by outside contractors, including auditors or consultants, to assist us in carrying out necessary financial or operational activities. These uses will be consistent with this privacy policy and all contractors using this potential personal information must agree to safeguard it, to use it only for the authorized purpose, and to return it or destroy it upon completion of the activity.

The Company might be required to disclose personal information in response to a valid legal process such as a subpoena, search warrant or court order.

Although unlikely, it is possible that we may have to make certain disclosures to ensure the security of our Web site, to protect its integrity, or to take precautions against potential liability. In any of these situations, we will take any reasonable steps to limit the scope of the data disclosed.

Web Logs: The Company maintains standard Web logs that record basic information about visitors to our Web site. These logs contain: * The Internet domain from which you came to our Web site. * Your IP address. An IP address is a series of numbers which uniquely identifies your connection to the Internet. Although it is possible in some instances, certain types of IP addresses may be used by interested persons to identify users but we do not attempt to identify users in this way. * The type of browser (e.g., Internet Explorer or Netscape) and operating system (e.g., Windows 98) you use. * The date and time you visited the site, and the pages you saw.

We use Web log information to design our Web site, identify popular features, and in similar ways. We do not try to identify individuals from Web logs or to link Web logs to other user information. However, if someone tries to damage our Web site or use it in an unauthorized or illegal way, we may share Web log information with law enforcement agencies. The Company may provide aggregate information such as the number of users who visit particular pages of the site, or the number of people who link to certain external sites from our site, to other parties.

Changes to Privacy Policy

The Company's features and services will change over time and our information-gathering practices and policies may also change.

While our philosophy of protecting user information from inappropriate uses and disclosures will not change, this policy will be updated occasionally to include any change that materially affects the collection, maintenance, use, or disclosure of personal information.

Accept Terms & Conditions of Use *

User	Silver Bananas
Edmundo Braverman	1113
TNA	1094
CompBanker	873
happypantsmcgee	742
IlliniProgrammer	715
UFOinsider	628
TheKing	620
BlackHat	564
Nouveau Richie	420
cphbravo96	404

User	Banana Points
Edmundo Braverman	14322
TNA	13470
WallStreetOasis.com	12039
UFOinsider	10300
happypantsmcgee	9621
IlliniProgrammer	9178
CompBanker	8504
Siberian Husky	5862
AndyLouis	5784
monty09	5398

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I used to work with a guy that had everything on the surface, but absolutely nothing inside. The guy was 6 feet tall, good-looking, charismatic, multi-lingual, graduated from a top business school, and had made MD at a bulge bracket investment bank. Yet he couldn’t remember the last time he... How to Develop a Personality
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Assuming that you have access to no financial products such as FactSet, Bloomberg, CapitalIQ, Thomson or otherwise, thought it would be helpful to give a step by step guide on how to ramp up on a new company from your home computer. Using FaceBook as an example. Lets go ahead and start with the... Basic Guide Ramping Up On A Company With Public Information (Part 1 of 3)
Fellow Primates, We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a... WSO is Looking for Campus Reps For Summer/Fall 2013 (and beyond)
<em>“You know, In The Flesh,”</em> a WSO monkey told me at a recent Happy Hour, <em>“that gentleman’s book is the real deal. I ordered that shit on Amazon as soon as I read your review. It’s so right, man. I want to be like that: keep my word, honor my commitments, be... Being A Gentleman, Revisited
<em>Mod Note: This is a syndication from Jared's Daily Dirtnap daily market newsletter. WSO readers qualify for a $100 discount...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap</em> There I go... In Praise Of High Interest Rates
You guys are gonna have to get me caught up because I have literally been living in a cave for the past week. Well, several caves, but I'll get to that in a minute. I just got back from what was possibly the <em>least</em> relaxing (but most interesting) vacation of my life. In... I Spent the Past Week in a Cave
That included Brady having a breakdown because he still couldnt get into Harvard. And then me getting my certified user status revoked and being really upset about it. Signs my life is pathetic? I think so. Had a dream about WSO

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