From Cowen's website: "You can apply by mail or e-mail to the recruiting contacts listed below. However, we prefer a cover letter and one page resume sent via U.S. mail."
I'm surprised they say they prefer a mailed resume.
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It's a form of filtering. If they say they prefer a mailed resume, then mail the resume. It shows you took the time to figure out what they wanted, and to do it.
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