Ugly Truth About Resume Reviews
This board is always full of requests for fine tweaks to resumes, everyone hoping that rephrasing this one bullet is going to land them the job they've always wanted.
That's all great, and hopefully we are helping some people, but here's the hard truth that nobody tells you guys: It doesn't really matter.
Your resume will likely first be reviewed by an analyst, who has a stack of about 100 to go through. He'll spend about 15 seconds on you (there are 100 resumes after all, on top of the pitch tomorrow), and here's what he's going to look at:
1.) The name of your school and your GPA
2.) The names of your previous employers, and your job title there
3.) Cursory glace at bullets to "bucket" your experience into one of the following, in descending order of prestige: "Real investment banking", "Sales/Trading", "Wealth management", "Other random shit", or "Waiting tables".
If the above look good, you'll likely go into the "Keep" pile. Otherwise, it's the "While your qualifications are impressive..." pile. Formatting? As long as it's consistent and free of typos, I don't really care.
Turns out its the experience that counts (and sadly, yes, the brand name sometimes), not the actual words on the page.
If you really want to improve your chances, try to network with someone in the group BEFORE they see your resume, that way when your 15 seconds comes, they might actually recognize you as more than "Mid-tier Private School, 3.6, BB IB Internship".
Interesting
and here's what he's going to look at:
1.) The name of your school and your GPA
2.) The names of your previous employers, and your job title there
3.) Cursory glace at bullets to "bucket" your experience into one of the following, in descending order of prestige: "Real investment banking", "Sales/Trading", "Wealth management", "Other random shit", or "Waiting tables".
I've been told that the people reviewing your resume are the analysts/associates who went to your school. Is this true?
additionally, regarding point 3, does that apply only to IBD or S&T as well? it appears as if the "descending order of prestige" list you've given is geared only toward IBD.
if one applies to S&T, will the above points given by captk still be valid or do S&T recruiters look for different things on a resume (quant classes, quant oriented work experience etc).
You say to network with
I appreciate this insight. But, you say to network with someone so they recognize the name on the resume, and you also say that the resume reviewer will likely be a sole analyst...so we are supposed to somehow know who this analyst will be and somehow get in touch with him before he goes through applications?
Also, another one of your main points was that minor resume details are not a huge deal...that makes sense to me and I agree. Actually, I just posted a resume for review with a very big question: whether or not to include my most recent work experience or leave it out. This could make or break my resume, so please realize that some people are looking to get help on much more than tweaking a couple words.
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1.) The name of your school and your GPA
2.) The names of your previous employers, and your job title there
3.) Cursory glace at bullets to "bucket" your experience into one of the following, in descending order of prestige: "Real investment banking", "Sales/Trading", "Wealth management", "Other random shit", or "Waiting tables".
1) Non-target
2) No-name, no-name, BB ("Other random shit")
3) "Real investment banking"
FML...
With networking, does it
With networking, does it help to speak with an analyst who works in the regional office that is sending someone to interview you, even though they aren't the recruiters themselves?
My sense is that the analyst who isn't part of the process probably wouldn't go out of his or her way to recommend you, but the conversation would be helpful only to get some specific information about that particular office which you could talk about during interviews.
I've been speaking with alums over the phone who probably aren't part of the process, am I networking inefficiently given that they probably aren't making the decisions?
Thanks for the insight
Thanks for the insight captk, I've been wondering how those 20 seconds are spent.
Agreed
I agree. The best bet is to polish up your resume for on-campus recruiting (since they only take 12-15 kids, and they actually read the resumes). If you are just 'mass' applying (as an entry-level) you will most likely be judged on GPA (30-40%) School (30-40%) experience/activities (20-30%).
it usually gets split between a team of analysts
and then they discuss their recos and give the interviewee names to hr who sets up the interviews.
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I'm making it up as I go along.
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I'm making it up as I go along.
For the record, I am sure
For the record, I am sure CaptK meant the 3rd point to be directed at IBanking. If it was S&T, S&T and IBD would be swapped.
Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard.
-30 Rock
........
I appreciate this insight. But, you say to network with someone so they recognize the name on the resume, and you also say that the resume reviewer will likely be a sole analyst...so we are supposed to somehow know who this analyst will be and somehow get in touch with him before he goes through applications?
Also, another one of your main points was that minor resume details are not a huge deal...that makes sense to me and I agree. Actually, I just posted a resume for review with a very big question: whether or not to include my most recent work experience or leave it out. This could make or break my resume, so please realize that some people are looking to get help on much more than tweaking a couple words.
You don't have to specifically know the analyst going through the resumes. You network, and the people you network with will go out of their way to make sure the person who IS going through the resumes "happens" to pick yours for a first round interview (given your resume is half way decent and you are competent) or at least spends extra time on it to give you a better chance.
Chim Chim, I gotcha - that
Chim Chim, I gotcha - that makes sense. But it still seems that the resume review area has died.
FT or SA?
btw, was captk's advice for FT applications or for SA? Are candidates really expected to have "real investment banking" experience PRIOR to their respective IB gigs? I'm sure some do, but is this common?
major?
just wondering where major falls, if anywhere, in the process
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just wondering where major falls, if anywhere, in the process
In my experience in doesn't fall anywhere. Double majors, minors, quadrouple majors... no one gives a shit. Only place it makes a difference is if you have like a 3.4, someone may look at your majors and be like ohh ok, he double majored in Engineering and Organic Chem.
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That's bullshit
just wondering where major falls, if anywhere, in the process
In my experience in doesn't fall anywhere. Double majors, minors, quadrouple majors... no one gives a shit. Only place it makes a difference is if you have like a 3.4, someone may look at your majors and be like ohh ok, he double majored in Engineering and Organic Chem.
I hate that while I chose to go to an undergrad business school and study finance and economics with a focus on my career, some douchebag studied biology, then realized he'd prefer to do banking and got an internship through his uncle and is now in the same boat as me. That doesn't fly in any career besides banking. I can't imagine a bio major getting into big 4 accounting, or a finance major becoming an engineer at Intel, but damnit everyone can apply to banking. FML.
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I concur with all of OP's
Sorry to go AWOL on this
- Capt K -
"Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
Capt K's described process
Agreed. I've dinged people
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Cover Letters
Cover letter for IBD
My cover letter advice, and 2 cents on the process...
I think this is not quite
Caveat
Experience Question
You don't see it very often,
- Capt K -
"Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
Agree with captk's
Does being an athlete help
What pile would I be tossed in?
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LazyEye, you should learn to
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Marcus is right
- Capt K -
"Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
Internships or Full-Time jobs?