I have spoken to current and former BB recruiters, resume consultants, headhunters, and people who recently got offers at BBs in AM and I asked them all the same question.
In an environment where ATS systems (i.e computer programs) simply scan a candidates resume and make a Yeah or Nah decision on the spot, does submitting a cover letter matter due to the probability of a human being never reading it?
I have heard arguments for and against cover letters. Wanted to get some feedback from you all on this.
1) Do you always apply with a cover letter?
2) If you've recently secured an offer or an interview, did you submit a cover letter for that position?
Even if a computer is greatly reducing the list of potential candidates, it will always come down to a human decision.
A cover letter is absolutely important. I can't tell you how many linkedin messages, emails, cover letters, and resumes I see that contain spelling and grammatical mistakes that greatly damage candidates' chances of moving forward. Your cover letter and CV are basically your introduction to the firm and the hiring manager. If it's sloppily written or rambling you can basically forget about it; there are so many candidates that the hiring manager will just move on. If a candidate can't get it correct in what is basically their "shot" at the job, I can only imagine the types of errors they will make down the road.
Moreover, it's not that hard if you're applying for the same type of positions. You don't need to reinvent your cover letter for every application. Invest a few hours in writing a good cover letter. It distinguishes great candidates from average and below ones.
Have at minimum 2 people proofread your letter, with one of them preferably not a finance person / fellow student. (Not every time, but when you first set it up). No matter how many times you proofread yourself, you just don't see your own mistakes.
I'm just getting reminded of this as we're hiring and less than 50% of candidates manage to stay error-free within the 2 pages that are meant to showcase their qualification for the job.
In your opinion what makes a good cover letter? Career services and the internet seem to agree on putting down the skills you offer , and making a statement along the lines of "I want to work for this company because it offers x, y and z." What would you suggest for a new grad with potentially no internship experience?
Pretty simple:
If you are new grad with no experience you should highlight more why you are interested in the field and what experiences (classes, clubs, personal background) make you a good fit.
yea get the cover letter right. However the best way to getting into any of these places is to give your resume to a friend that works there, and skip the online cover letter process
Cover letters - What is the importance (Originally Posted: 08/12/2007)
What is the importance of writing a cover letter for a job or internship. I have never written a cover letter in my entire life and still got accepted to internship programs. I was just wondering if a cover letter is necessary for most BB banks?
yeah i have a similar question, what if you just drop off your resume at your university career fair...do you still need to have cover letters?
It depends. Some places require cover letters, some don't care. It can also depend on the medium you're using to give your resume. I don't think many places at career fairs require cover letters. However, if you're emailing a resume cold to the bank, you should definitely include a cover letter.
You don't need a letter at a career fair or if you're meeting a recruiter in person and talking to them. Always send one if you're sending out a resume cold as said above and if you're applying to say online postings as it's safer to err on the side of caution. It's usually expected and if it isn't, having it there doesn't hurt (unless you say really stupid things in it)
what if you know the recruiters and they already have your resume on file and you just need to "officially"apply online, would you still need a cover letter?
When I sent resumes to people I knew through connections, I gave a 2-3 line cover letter that was very basic and straight-forward. If you know that your connection is going to be the only one reading the thing, then sure. Of course, it is always safer to err on the cautious side and supply a well polished cover letter.
Goodluck
I'm just amazed to see how many lazy fucks are out there trying to find excuses not to write a cover letter.
Someone in Risk Management calling other people lazy is quite amusing.
Oh shit, all hail Sales & Trading and bow before the preftige.
lol, fucking moron. God, never have I seen a more retarded comment on WSO.
In magnam unde corrupti recusandae deleniti. Sit consequatur enim provident accusantium ipsa.
Optio error saepe ullam adipisci nostrum voluptatum. Saepe veritatis qui ducimus minus. Illo omnis harum in omnis. Sequi maiores et quod nesciunt dolores ad sapiente ducimus.
Et maxime voluptate debitis nam. Inventore nihil a vel qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...