A few questions about resume drops:
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If you submit your resume through the university career center, do the banks actually look through all of them or is it a dead end much like applying online? This is in reference to a semi target state school, which is why I am asking. I am sure that banks probably look through all the resumes at the smaller target schools (Ivy's etc)
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If they do look through the resumes from the resume drops, how necessary is it to attend the firm info nights? I know exposure is always better, but sometimes there are schedule conflicts and it's always a big toss-up trying to decide whether to meet my other obligations or set it aside for a firm presentation. After all, the connections you make at these presentations only go so far as increasing the likelihood of your resume being considered, correct?
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Again, assuming firms look through the applicants via career center, what exactly differentiates the applicants? What do they look for on resumes? Obviously GPA and work experience...but I am a little confused because I always hear people on this board talking about how they know people w/ strong GPA's (3.9, 3.8, etc.) that wern't even given 1st rounds, whereas they know people w/ 3.4's that have gotten offers. If 3.8 + GPA's dont automatically get first round interviews, what do you need to get a shot?
Thanks!
A school resume drop typically indicates that an alum from your school is recruiting at the school. Most likely, all resumes will be looked at, but the firm probably allocated only a certain number of slots for the alum, thus the need for filtration.
It's not the information at the info nights that are important, it's the contacts. I can say with almost absolute certainty that, if your school is a "semi-target" (as you put it) and is putting together info sessions, the same people who present the info session are involved in your schools recruiting process. Firms typically have "school recruiting teams" for certain non-target schools (names for these schools vary across firms... "alumni schools", "secondary targets", etc.) Meeting the people who put on the session, getting yourself noticed, and continuously following up SO THAT THEY REMEMBER YOU AND LIKE YOU is most important. I wouldn't be surprised if the info session presenters play a role in 1.) choosing who gets a first round interview, 2.) conducting the first round interview, 3.) choosing who gets a superday.
I answer question 2 from personal experience. I come from an alumni school and have semi-impressive statistics ("good" GPA, but def. not 3.9.; past internship experiences, but nothing exemplary, etc.). What made me successful was my determination and drive. After speaking continuously with people that I initially met at a session, I was able to convince them of my passion. Last year, when the firm had 3 superday slots to hand out, who do you think got one? This year, during the credit crunch, when there was only a single slot and over 150 applicants, who do you think got it? Throughout the recruiting process, I was continuously in contact w/ the same people I initially met at that very first session 3 years ago.
Examples: One girl had a 3.4, but she was an engineer. Female, engineering student with a decent GPA... okay, it will get you noticed. She also had extracurricular activities that could speak to why she was interested in business/finance over engineering.
One girl has a 3.95 and is still unemployed. She has the worst personality and people skills I've ever met in my life. Her attempts at networking deter her more than benefit her. While she looks good on paper, any attempt at contact will eliminate employment possibilities. She might get a first round (provided that she didn't try to network beforehand) but will immediately strike out during the interview.
Networking> GPA always on wall street. when some employee vouches for someone, it means infinitely more about the possible applicants character and as such, these are given #1 priority. (told to me by a head recruiter at UBS)
Make sure during the interview to work hard at explaining how finance is your passion and how you will work your a** off during the SA period.
Every situation is unique. There is no one person who looks at each resume. As a result, the screeners will all have different criteria and look for different thing. This means that while someone may have a perceivably better resume than another, they might get dinged while the other is granted an interview. I think it would be foolish to deny that some level of luck does not play a part of it for everyone but the top candidates.
You have some good questions there. You should definitely do the resume drop if your school has one because that means that there is an alum recruiting at your school as mentioned previously, which means your resume will be looked at.
Also, applying online is not exactly a dead end. But if you have not had any contact with a firm and you apply online, you have a very slim possibility.
Also, it's not just enough to have a strong GPA. You have to have done meaningful work, like extracurriculars and work experience to help stand out. I think banks look highly upon people with good gpa, a part-time job, and is in a leadership role on campus.
What are some examples of "good" questions to ask recruiters at either corporate presentations or in a follow up email?
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