how to ride a bull 2009

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llCaReeRS iN tHe CitY oF loNdoN

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tHe StudeNt’S Guide to

MelviN CHeN & beNediX

“A goldmine of advice and information on getting that dream job in the City”

FreshMinds

How to Ride a bullHow to Ride a bullwHo aRe we to Give adviCe?

Melvin ChenWhen I started applying for summer internships in my second year of university, I was very enthusiastic but felt that I lacked the neccessary support and guidance to get me going in the right direction. As a result, I committed many of the common student mistakes and ended up feeling confused and frustrated.However, I persisted and in the end realised what I was doing wrong and changed my approach. I proceeded to win numerous final round interviews and eventually secured my dream City internship.After my internship I became fascinated by the graduate application and selection process. I asked myself 3 questions:

1. What sets successful applicants apart from the rest? 2. What common questions do applicants ask and what common mistakes do they make? 3. What can students do during their university careers to maximise their chances of successfully securing a dream City internship or job?

I read careers literature, spoke to careers advisors, graduate recruiters, failed applicants and highly successful applicants to try to answer these questions. I recorded my findings and realised that my conclusions would be extremely useful to other students who have similar aspirations to work in the City.

BenedixBenedix train and recruit for investment banks and financial institutions, so we know exactly what it takes to get into the industry. It can be very hard to know what employers want and what they are looking for while you’re still applying for your first job. It can often seem like their criteria is a secret and only the lucky few get through the selection process. However, it’s much easier to know what employers are looking for when you’re on the employer’s side of the interview table. At Benedix we pair up our knowledge of what employers are looking for with an understanding of what it’s like to be a student or graduate searching for a job, to help you secure that elusive first position. We’ve helped over 1,000 students and graduates to get careers in the banking and finance sector this year, so we can help you avoid making the mistakes that most students and graduates make and show you the quickest route to a full-time job offer. Follow the steps given in this guide and you will find that your career search is much smoother and less stressful. If you ever need any further advice or guidance we’re here to help.

Get in touch on 0845 021 2208or visit

benedix.co.uk

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Merrill Lynch is one of the world’s leading wealth management, capital markets and advisory companies, with offices in 40 countries and territories and total client assets of more than $1 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide.

Merrill Lynch owns approximately half of BlackRock, one of the world’s largest publicly traded investment management companies, with more than $1 trillion in assets under management.

about MeRRill lYNCHMerrill Lynch offers a range of opportunities for candidates interested in working in the financial services industry. If you want to build a fulfilling career in Global Markets, Investment Banking, Global Wealth Management, Research, Technology or Human Resources, the opportunities we offer are unparalleled.

For more information about careers at Merrill Lynch, please visit

ml.com/careers/europe

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wHat iS How to Ride a bull about?The purpose of this book is to provide you with a standalone guide to help you begin your career journey with the insight and confidence you need to be successful. It will help you avoid the mistakes that many students make, and provide you with the advice of those who have been successful. How to Ride a Bull will give you the edge over your competitors and help you to secure your dream job.

What do you look for in a career? If you want responsibility, a great learning opportunity, the chance to work with bright people and fantastic compensation, then the ‘City’ might just be the place to start your career. The problem all prospective applicants face is that these great jobs are incredibly competitive and therefore you need to be equally incredible to make it onto the City career ladder.

How to Ride a bullHow to Ride a bull

The ‘City’ is a generic term used to define the financial centre of London. It is simply the area of London where the majority of the major financial firms situate their head offices, and can also be referred to as ‘the Square Mile’. It means much more than the standard meaning of ‘a city’ and is a term that is often misused and misunderstood. You should think of the City as the financial centre of London including the Docklands extension. The origins of the City began in the 17th century when economic activity centred around one of Europe’s largest trading rivers, the Thames. Today, the City is accepted as one of the financial capitals of the world along with New York and Tokyo. It is a lively and exciting place to be for the top graduates who make it through the door.

An important characteristic to bear in mind is that the marketplace in the City is constantly evolving so it is essential to keep up to date with every aspect of the career you are seeking to pursue. In fact we are currently witnessing huge changes in the structure of the City, especially in the investment banking sector with the failure of several independent investment banks, of which Lehman Brothers has been the most significant casualty. The rate of change within the City is fast so it is important to keep yourself well read at every instant.

One of the best ways of keeping yourself fully informed is to read the Financial Times either online or via the printed version. The FT is a daily newspaper read by everyone seeking work in the City and which covers every aspect of the financial markets. You can also supplement your reading with other publications such as the The Wall Street Journal, The Economist or Fortune.

When reading any financial publication you will find that it is largely written in jargon. This jargon

wHat iS tHe CitY?

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is very much a part of the City and is one of the things you are going to have to get used to if you want to impress recruiters. I found that the best way of coming to terms with financial terminology is to sit down with the FT and search on the internet for clear definitions.Finance is a massive subject and one of the largest and most important industries in the UK. Getting a

wHY do So MaNY people waNtto woRK iN tHe CitY?

The pay may be a big part of the appeal. The finance sector pays some of the highest salaries of any industry - both for starters and established high-fliers. The City is also a great place to learn about

finance and business. Working in the City can feel like you are at the centre of the world. Finally, City roles are very prestigious and there are many things to keep you entertained outside of work as well.

What is the best thing about a career in Investment Banking?

“Every day there are opportunities to learn and progress, particu-larly when speaking to clients and understanding how to express their views in a trade. It’s very satisfy-ing to tailor an idea for a client from scratch and then see them take on your idea and trade on it. Recently I was asked to give a presentation on options theory to a client which was a big achievement for me, making me realise just how much I’ve learnt in such a short period of time” Natasha, Foreign Exchange Sales, Merrill Lynch

“And what do I enjoy about the Investment Banking analyst role? Many things, but high on my list is being in the room with managing directors when they are debat-ing alternatives for advising major British companies. I have also been able to expand my knowledge of financial and commercial matters considerably, even though I have only been at Merrill Lynch for six months. The learning curve has been steep, as I expected, but I have found the experience to be highly satisfying!”

Melissa, Investment Banking UK Team, Analyst, Merrill Lynch

concrete understanding of the industry, the language and what goes on there may take you the next three years of university. Luckily, this guide is designed to get you started with your learning!


wHat do eMploYeRS looK FoR?

So wHat’S tHe CatCH?With a great salary comes great responsibility. The big firms are willing to pay a great deal, but they expect to get what they pay for. This can mean long hours, high pressure, and extremely high standards of performance are required. You’ll need to commit yourself to being the best and most effective that you can be, engaging in personal development and

constantly improving your ability to contribute to your company. Often the work will be hard and challenging, so you will need to know your motivations for following this career path in order to get through the tough times. Finance is not a career sector that you can easily drift into after university. You need to truly want it, and start to prepare for it now.

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Not everyone who works in finance needs to have Einstein’s talent for numbers. One of the most important skills is the ability to communicate effectively - you will need to be able to communicate your ideas succinctly and clearly, build rapport with clients and co-workers, and negotiate without creating conflict.

So communication skills are the pre-requisite. Then you’ll need to demonstrate that you have a passion for working in finance (and not just because you’ve “always been interested in finance”) and that you’ve given time and attention to planning your career.

You’ll also need to show a good understanding of how the finance sector operates and what happens in the particular area of finance that you want to work in.

What qualities do employers look for in prospective applicants?

Strong academic qualifications • are important, but you’ll also need to demonstrate drive, innovation and a genuine interest in the financial marketsStrong communication skills • (written and oral) Motivation, enthusiasm, • knowledge of firm and industryTeamwork, group skills, respect • for individualsStrong work ethic and integrity• Quantitative/technical skills• Self-confidence and a positive • attitudeTime management skills, ability • to multi-taskCreativity• Accuracy and attention to detail•

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What are the qualities that make a successful applicant?

The key to success is preparation. It is easy to spot the candidates who have done their research and really thought about what they want to do. Here are some tips to help you prepare:

Read annual reports, research, •

recruiting literature, articles and

websites

Be able to list the differences •

between firms and know the

key criteria for making your own

decisions

Understand what investment •

banks do and what your role in

the business process will be

Stay current on major events in •

the business world

Know what is going on in the •

markets (stocks, bonds, Federal

Reserve, Bank of England)

Learn as much as you can about •

the different functions within the

business

Understand the job - what you •

want to do and why you want to

do it.

In summary, the rewards for working in finance are significant but to get them you’ll need to be proactive in preparing yourself for a career in the sector. The process starts now with this guide.

This guide has been created in cooperation with graduate recruiters and students who have already gone through the process in order to give you the inside scoop on what is required in finance and make sure that you can stand out amongst the crowd.

The next section of the book features a timeline from year 1 to year 3 and highlights what you should do to maximise your chances of application success.

How to Ride a bullHow to Ride a bullYEAR 1

WORK OUT WHATYOU WANT!

“For a recruiter, the simple ques-tion ‘why do you want to work in the role you have applied for?’ is amongst the most important. People might know why they want to work in investment banking, but if you ask them, for example, ‘why do you want to work in operations in investment banking?’ they have no clue because they haven’t done the research, they haven’t read about it, and that really helps us make our decisions.”

An assessment specialist at a leading universal bank

One of the most frustrating things for employers who interview graduates is that most graduates have very little idea what they want to do - they are extremely unfocused. When people say ‘I want to work in finance’ they usually mean ‘I want to get paid lots of money’. People will claim to want to work in finance but have not done any research into the sector they claim they want to work for.

If you want to stand out, you’ll need to do things differently. Would you believe someone who claims they want to be a rock star if they never listened to rock music and had never tried to learn an instrument? Would you believe someone who says they want to work in investment banking

if they hadn’t made the effort to work out what investment banking actually is?

The first step in your career is to work out exactly what you want to do, and why. It’s not enough to say ‘I want to work in accountancy, banking or finance’.

When I ask people what they want to do after university, I often hear something like: ‘I want to do investment banking, or maybe trading, or otherwise accountancy’. The problem is that these are three very different areas and someone who is a good accountant, for example, probably won’t be a natural born trader. It’s equivalent to applying for a job at the council and saying ‘I want to be a social worker, or maybe head of finance, or failing that, a road sweeper’. You need to focus and work out what you want to do.

You should identify the sector that appeals to you most. The sectors can be categorised into ten general areas:

1. Investment Banking2. Research & Analysis3. Commercial Banking4. Sales & Trading5. Back & Middle Office6. Asset Management7. Law8. Consultancy9. Tax & Accounting10. Insurance

There are massive differences between the areas, and you should

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read books, research on the internet and talk to people at networking events to help you identify the best career for you. To give you an example of how different working in different sectors can be, look at investment banking versus trading. In investment banking, you will work on projects over the course of a few months, with tight deadlines and usually an intensive ‘last push’ where you can end up working 24-hour days. You’ll need to be willing to sacrifice much of your social life and - often - even your weekends. What is important is getting the job done so that a deal can go through successfully. You’ll need to have attention to detail as the work may well involve going through lengthy legal documents and number crunching.

Trading, on the other hand is much more short-term. By the end of the day you have either made money or lost it. If you lose money a few days in a row you’ll be asked to explain your performance to your manager. In trading the work can be extremely intense, with people shouting orders to you simultaneously. You’ll need to multitask and be able to watch various stocks (shares) as well as communicate with co-workers. However, once the markets close for business you can leave work by early evening and you’ll never end up working weekends since the markets are closed.

So, work out what you want to do and why you want to do it. I can’t over-emphasise the importance of this decision-making step in your career journey. A major mistake many people make in deciding upon a career path is that they are too heavily influenced by the opinions of others. They then go with the job that they think would be most prestigious or lucrative. This is the biggest mistake of all. Many students successfully get onto the career ladder, but once they start climbing they realise that their ladder is leaning against the wrong wall. It is vitally important to make your career choice your own to ensure that you start climbing

the right ladder. If in doubt, consider what you think you

would enjoy doing above all else. If you enjoy

something, you are much more likely to excel at it and

find success and happiness within your

career and life.

Making your career choice is difficult because it is such a

significant decision. This is why many students put it off and end

up drifting through university. However if you really want to be

successful then you must take a more proactive approach. This means taking the time out to think about what you value in life, what you enjoy, where your strengths lie and where you would best fit in.

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How to Ride a bullHow to Ride a bullHow did you decide upon your dream job and employer?

“I chose to join Merrill Lynch on the Summer Internship Programme as the firm is a leading global financial services provider with a vast international presence; I was looking for a diverse employee en-vironment where colleagues would be team orientated and friendly. A well structured ongoing training programme was also important to me.”

Brian, Emerging Markets Equity Derivatives/Structuring, Merrill Lynch

“I think that when you start out, it’s difficult to know exactly what you want to do for your career. So, internal mobility and support for further study were both extremely important to me when considering which employers to apply to and Merrill Lynch is known for both.”

Per, Investment Strategist, Office of the Chief Financial Officer, Merrill Lynch

“Merrill Lynch is a top tier bank, which stood out to me for two primary reasons. Firstly, the work-ing environment is excellent and secondly, it has a truly global focus. The decision to apply was a direct result of having met several employees at a recruitment event - employees who were repre-sentative of the friendly, team-orientated working environment fostered by Merrill Lynch. This was something that instantly appealed to me. In addition, the global pres-ence encourages diversification, knowledge sharing and an appre-ciation of global markets, not to mention career mobility.” James, Yen Equity Sales and Equity Derivative Sales, Merrill Lynch

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Get iNvolved at uNiveRSitY

You’ve probably heard a million times how important it is to do extra-curricular activities at university. This can often be the only way to differentiate yourself from 10,000 other candidates with a good degree from a top university. A student with a first class degree but no life outside the library will find it much harder to get an offer than someone with a 2:1 but a wider and more vibrant experience.

But it’s not just a case of marking yourself out as different. Getting involved in life outside university will develop your skills and prepare you for working in the finance sector. If you take on responsibility you’ll be actively developing your abilities - take on projects that are outside your

comfort zone to push yourself. Really get involved in your university societies. In particular join your finance society - and if you don’t have one in your university, set

one up! Take on a position of responsibility - organise an event or take responsibility for one area of the administration.

One other society that has excellent opportunities to develop your CV and skills whilst at university is AIESEC (www.aiesec.co.uk). You can actually pitch a service to HR staff and directors of companies and

manage what is effectively a small business whilst at university.

If none of the student societies appeal to you, get involved with a community project, charity or set up a small business while you’re at university. Any work experience is better than none at all.

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What can you do to get involved in extracurricular activities at university and why should you bother?

“Editing the student paper and working as a BBC presenter gave an obvious edge in verifying strong communication skills compared to essay-writing ability like anyone else, and is very useful for indus-tries outside media such as law, fi-nance and marketing. Starting up a couple of small businesses showed a creative and entrepreneur-ial spirit many employers highly value. Holding various committee

positions on university societies not only helps to suggest teamwork and leadership ability, but efficient time management ability in being able to juggle these with a univer-sity degree and part-time job. All these experiences were essential to land coveted internship positions, which in turn led to graduate job offers.”

Anjool, Equity Sales Associate, Deutsche Bank

The majority of graduate recruiters are looking for candidates who exhibit certain ‘competencies’: problem solving, communication skills, teamwork, leadership, initiative and time management. One way to demonstrate that you have these is to get involved with university clubs and societies where you can practice and develop them. Simply becoming a member is a good start but to seriously develop and show off your skills, you’ll need to get onto a committee.

The most value is to be had from getting involved with career-related societies such as those for finance, consulting, law and entrepreneurship. These have numerous other benefits beyond developing your skills:

1. Window shopping: getting involved with societies for different industries can help you work out which interest you most and perhaps more importantly where you find people who you like and who like you. All the facts & figures about industries and their companies should be available to you online but there is no substitute for meeting people in person to see how you’d fit in.

2. Networking: whether you like it or not, networking matters. By attending networking events organised by career-related societies, you can:

• Meet the graduate recruitment team who process application forms. How much more likely do you think

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What did you get involved in at university and how did these activities assist your application?

they are to put yours through to the interview stage if they’ve already met you?

• Meet members of the team/division to which you’re applying. How much more likely do you think the graduate recruitment team are to put you through to the interview stage if they’ve received an email from a superior of theirs recommending you?

• Meet other students applying for the same position as you. You could compare speaking to your friends or fellow society members about their interview experiences to doing past papers for an exam before you take it. The same questions come up again and again; and if you’ve already answered the question prior to the big day, it’s a whole lot easier to nail it when it counts.

3. Build relationships: getting on the committee of a career-related society is probably the most valuable position you can obtain because in addition to having all the benefits above, it can also give you the opportunity to build a working relationship with a graduate recruiter. What better way to demonstrate your skills in the workplace to someone than by working with them? For example, if you are the President of a finance society, you will probably have to manage sponsorship deals and events with employers - you’ll have to directly work with representatives from the company arranging everything and when it comes to interviews your life is made much easier as you already know

and have had a few drinks with your interviewer.

“Taking on a leadership position in a student society” was voted the second best way to improve a student’s skills for the workplace. Second only to “Completing an in-ternship or industrial placement”.

From the 2008 Association of Graduate Recruiters Annual Graduate Recruit-ment Survey.

You can find out which career-related and other societies are at your university at groupspaces.com

David Langer, CEO, GroupSpaces

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How to Ride a bullHow to Ride a bullapplY FoR RelevaNt SpRiNG iNteRNSHipS

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A spring internship is the best way to get a taste of the industry and provides you with invaluable experience. Almost all of the top employers such as Goldman Sachs and McKinsey & Company offer a spring programme to first year undergraduates on a 3-year course or 2nd year undergraduates on a 4-year course.

If you are considering a spring programme, then stop thinking and start applying. There is nothing to be lost and plenty to be gained:

1. Exposure to the working environment.2. Learning - You will learn a huge amount throughout.3. Meeting likeminded students and making contacts - the people you meet may well be very helpful to you later on. It is never too early to start expanding your network.4. A lot of fun - Your Company will treat you well and make sure that you have a great experience.5. Experience of the company and industry - this will definitely help you decide whether the role, company or industry is the right one for you. Learning through doing on your spring internship will give you a far better career perspective than simply reading a book.

Spring internship placements are very popular and therefore competitive too. So, what marks out a great candidate from a good one?

During the application process, it will be all about how you come across i.e. how you best present your strengths to fulfil the employer’s criteria.Throughout any application process you should be considering what the employer is looking for. Here are the questions the employer will undoubtedly be asking:

1. Do I like you?The interviewer is looking for someone with a good personality and the ability to present and defend their opinions. Be confident, polite and relaxed but most importantly try to build mutual trust and rapport.

2. Are you prepared enough?If you are interested in investment banking then you should be able to explain your interest in the particular area of work. Why would you suit this business area? Before applying you should read up on the roles that you are interested in and think honestly about why those roles are right for you. Study the characteristics that each business requires and think about what your strengths are. During interviews, use examples from your life (in student organisations, in your family, in your education) so that interviewers can see your strengths in action and see you fitting into the role to which you are applying.

3. Are you bright?Interviewers want to see that you have good quantitative and decision-making skills. Be prepared for

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the numeracy test or case study interview if this applies to your application process. During a case study interview, it is crucial that you describe your line of thinking and your logic. Learn how to think out loud in such a way that helps your interviewers follow your train of thought.

4. Are you able to follow through ideas?Interviewers are looking for drive and the ability to go the extra mile. It’s up to you to demonstrate these qualities through concise and compelling stories that show you in action. Portray yourself as someone who is a team player who can work well with others. Think hard about the traits that the interviewer is looking for and convey yourself as an exact fit through your answers.

5. Can you work effectively in a team? Can you listen and are you persuasive? Will you network?Remember that listening is an important component of good communication and teamwork. Not many firms will employ someone who can’t work well with others so start developing your teamwork skills now. One of the best ways to do this is to join a team or club where you can put teamwork into practice. When talking about teamwork, make sure you are not afraid of saying what it is that YOU did. Justify how that benefited the whole team.

6. Do you show good commercial awareness?You should start reading publications such as the Financial Times and the Economist on a daily basis. So if you haven’t started yet, now’s the time. It’s useless to start reading the week before your interview since it takes time to come to terms with jargon and to develop a solid understanding of commerce. Get into the habit of

tuning into the world around you by following global affairs. You should be able to cite business-relevant examples during your interview. Many sectors in the City are strongly linked to world events. Reading as much as you can will help you feel comfortable talking about the current movements of the different markets. The interviewer wants to see that you are really passionate about the industry you’re going into.

How to Ride a bullHow to Ride a bulladjuSt YouR plaNS

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After your spring internship you should have a better insight into the finance sector. Now you can adjust (or confirm) your plans with a better idea of which sector and roles interest you. If you decided that another area of finance might be more suitable for you, start researching other sectors now. However, don’t change your plans simply because you were intimidated by the work you would have to do - you have three years ahead of you to build up your skills and expand your ‘comfort zone’. Most things only seem difficult until you have done them a couple of times!

The summer of your first year is a great opportunity to get relevant work experience and is something I deeply regret missing out on. Even if the firm you work for is not directly related to the job you want, you can still develop team-work and communication skills that employers really value. This will put you ahead of those who just went on holiday during the summer - you really do reap what you sow! If you do manage to secure a placement in your sector of interest, then that will be even more impressive to employers when you start applying for summer internships in year 2.

What did you do in the summer of your first year to get experience and how did this help?

“My first summer at University was spread across the HSBC First Year Internship, an academic project on Private Equity, and an Autumn Insight Programme. In the HSBC 1st year internship, I was given the opportunity to lead a car insur-ance sales team, providing an ideal backdrop to a future role in Sales in an Investment Bank. I also had the opportunity to develop my financial awareness, and obtain a different perspective on financial matters.

Finally, I spent a week at Mer-rill Lynch’s Autumn Insight Pro-gramme; similar programmes are offered at other banks such as JP Morgan’s Industry Impressions. For those who missed out on a Spring Week, or for those who are just extra keen, these really are a great opportunity to make your-self known to the banks before the start of second year.”

Atharv, 2nd Year Mathematician, Magdalen College Oxford

pRepaRe YouRSelF

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At the start of your second year of university you’ll need to begin applying for summer internships, so from April until September you have 6 months to prepare yourself so that you can stand out amongst 10,000 other graduates. Research all the sectors and think about where you would like to work. Improve your understanding of the technical details behind finance - what are the different financial products? How does a hedge fund operate compared to a pension fund? What will I be doing differently if I’m trading equities versus fixed income bonds?

• University Careers Service - This is a fantastic resource right at your fingertips and it’s the perfect place to conduct careers research. You can also often get interview advice and even practice interviews free of charge. I highly recommend getting into a habit of going to the careers service a couple of times a week after your spring internship. This may seem like a big commitment,

but it will all be worth it when you come to apply for a second year summer internship.

• Networking - this is an important skill that can really enhance your chances of finding the right job. You know the saying: ‘it’s not what you know but who you know that counts’. More specifically networking is great for information and referral gathering - this could be to find information about an organisation, industry or position.

It is almost always easier to get a job offer if you have contacts at a firm simply because employers prefer to hire people they know and trust already. For this reason, you should try to attend as many university careers events as possible. Try to talk to people who may be able to give you advice or help you get a job. Always be friendly and polite. Never

be pushy and remember to be mutual in your approach to

networking.

How to Ride a bullHow to Ride a bullYEAR 2

IDENTIfY YOUR TARgET EMplOYERs

There are around ten big banks that almost every graduate will apply to. These banks are so popular that for every vacant position they will receive maybe 100 applications, so the statistics can be against you even if you’ve put the time and effort into becoming an attractive candidate.

However, if you don’t get a position in one of the top 10, that doesn’t mean it’s time to go home and get a paper round. There are hundreds of companies in the financial sector. You may not have heard of many of them due to either their size or the fact that they work business-to-business and do not advertise to the public.

Before starting your applications you need to identify your target employers. Are you going for the big multinational banks or for smaller ‘mid-cap’ institutions? Are you the kind of person who would like to work for a large multinational with the opportunity to travel internationally, or would you rather work for a smaller outfit where you will get a broader experience and get on the front line in a shorter time? There are pros and cons to working for each so it is important to think about the decision and avoid simply applying to the same banks as everyone else.

How did you identify your target employer?

“When exploring career options, I was looking for a firm commit-ted to training and development. As I have enjoyed a very diverse educational background incorporat-ing law and commerce, I wanted a diverse and challenging role where I could apply my varied skills and knowledge base.”

Aoife, Associate Investment Consultant, Financial Consultant, Financial Advisory Center Europe, Merrill Lynch

“During my time at university, I gained some practical insights into the research sector through intern-ships. I also made it my priority to speak to a lot of people in the sector and to read the financial press which kept me abreast of the markets.”

Furquan, Structured Finance Research, Islamic Finance Analyst, Merrill Lynch

“I started exploring a career in Technology in the investment banking sector as one of my friends spoke positively about his experience. To decide whether this was the right sector for me, I interned for a summer at Merrill Lynch”

David, Senior Specialist, Application Development, Technology, Merrill Lynch

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ApplY fOR THE RElEvANT

sUMMER INTERNsHIps

Applying for summer internships is a long process that requires effort and patience so it’s vital to start as early as possible to avoid the rush. I recommend starting in the summer of your first year. Another reason for starting early is that some companies run a ‘rolling’ application system, so positions start to get filled even before the application deadline. Your approach to summer applications needs to be more rigorous than the one you used for the spring internship in year one, however employers will still be asking the same six questions outlined earlier when you come to interview.

It is important to be focused in your applications and you should now know which role you are applying for. Competition for summer internships is fierce so apply to many internship programmes and not just one. Draw up an A list of firms you really want to work for and a B list of firms that you simply like. Next, get down to writing your applications. Summon the discipline to dedicate a healthy chunk of time each week to this activity and be brutally rigorous with each and every application. Do tailor your CV and covering letter to individual firms and always get all aspects of your application proof read before submitting.

Dedicating time and effort to your applications will pay dividends. If you have worked hard enough you may even find yourself with more than one internship offer to choose from!

What can students do to improve their applications?

“Your CV and covering letter are very important for us in making a decision as to whether this could be the right place for you. Ensure that your CV includes sufficient de-tail on your academic background, strengths and interests. Your covering letter should very clearly state why you are applying to the job specified and how you meet the criteria for the pro-gramme that you are applying to.

Do your research! What do you un-derstand about the alternative in-vestments business? It’s all about preparation. Ensure you keep up-to-date on what is going on in the markets. Think about what key factors have shaped the economy over the past 12 months.

Expect technical questions! If you are interested in working in the hedge fund industry then use-ful reading includes Hedge Fund Manager Week and publications such as Absolute Return (which focuses on U.S. single-manager hedge funds), Investhedge (which focuses on Fund of Hedge Funds), Eurohedge and Asiahedge.

You can also sign up for free daily online hedge fund news with Al-bourne Village and Hedgeweek.”

Graduate Recruitment Team, Man Group

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How to Ride a bullHow to Ride a bullHow can you get into a prestigious institution if you’re not at a top university?

“To get selected, your demonstra-tion of personal motivation, finan-cial curiosity and core competen-cies can prevail over possession of top university brand names. Every experience counts. So long as you are proactive, and get involved with societies and engage in work experience, you can project your-self as a well-rounded candidate regardless of educational prestige.

Before I landed a full time job of-fer in investment banking, I had significant experience ranging from being class rep and finalist in a national business plan competition to a variety of internships. Really communicate your level of energy and enthusiasm as well as your academic abilities. By showing that every period of your university career has been spent productively you are giving recruiters better reason to award you a high score on each of the core competencies being assessed.”

Tung, Corporate Advisory and M&A, Royal Bank of Scotland

How do you differentiate yourself as an applicant? “If you’re coming from a science-based background, there is one thing that will truly impress an

employer - that you have social skills. There are likely to be many students out there who are aca-demically better than you, but at the end of the day - we all like to have fun working with the people we see every day. Make sure you are a rounded person with a vari-ety of topics to converse in - know some good restaurant recommen-dations, find out a quirky angle on the news, but most of all, relax and be yourself!

It is difficult to differentiate your-self through the standardised forms that you have to fill online - however, I’d recommend you brush up on your extra-curricular. Obvi-ously your academics count, but assuming you have the basics, the activities that you do are your dif-ferentiating factor. Being a presi-dent of a society, helping at charity events, playing a sport for your college are all things that help HR build up a picture of you in their mind. It also shows that you are proactive, sociable and can work well within a team. I was presenta-tions officer and treasurer for CUES (Cambridge University Engineering Society), played the cello in col-lege plays, played badminton for Magdalene, was the design project team leader and mechanical team leader for the main 2nd year proj-ect to name a few. It is extra work, but it’s worth it!” Sarah-Rose, Corporate Development Analyst, Trikona Capital Advisers

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KEEp IMpROvINg YOUR pROspECTs AND THINK

lONg TERM

Between September and December you can be spending time building up your experience, which will give you an advantage in interviews and in your applications. You should also start thinking long term, beyond the point of simply being offered the internship. Start to ask yourself questions such as, ‘What do I need to be good at to succeed in this role? Do I need to improve my time management skills? What type of person will they choose to offer a full time position? Do I need to improve my confidence in public speaking?’ and so on.

If you identify an area in which you need improvement, use the second year of university to develop this

skill. Bear in mind that, although you need to prove yourself in the application process, the whole internship is really an extended interview, and you will be judged on your performance throughout the 8-12 weeks.

DO YOUR INTERNsHIp

Congratulations! You’ve landed your dream internship. The primary objective of the internship is to get a good feel for the company, industry and day-to-day work. It is however equally important to maximise your chances of walking out with a job offer. You’ve worked really hard to get the internship so you want to make the best possible impression from day one. I asked a recruiter and successful intern about the summer internship experience (See overleaf).

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How to Ride a bullHow to Ride a bullWhat are your top tips for securing the job offer?

Here are some tips to help you sell yourself during your internship - if you do well you have a good chance of being made an offer to join the full time programme!

Be enthusiastic - very important!• Network - internally and exter-• nally Introduce yourself and be proac-• tiveAsk lots of questions• Sell yourself - understand what • is requiredUtilise all resources available• Seek regular feedback and re-• spond to criticismKeep up to date with current • affairsAlways identify opportunities to • excel Take advantage of all events, • activities and opportunities of-fered Produce high quality and timely • work Remember that an internship is • an extended interview!

Merrill Lynch Recruiter

What did you gain from your summer internship and what advice would you give to an applicant?

“My internship gave me the ability to understand and experience the culture at Merrill Lynch, as well as interact with people from all over the bank and really get a sense of how a place like Merrill Lynch operates. I gained valuable work experience, as I was able to get involved in many meaningful ways and on a number of projects. I also made a lot of friends through the internship class and really enjoyed my summer. My advice to an appli-cant would be to be follow through on things you start, have fun and always be yourself.”

Lauren, Global Wealth Management, Merrill Lynch

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YEAR 3

Did you get your internship? Did you network like mad and put in the hours to impress? Did they offer you a full-time position? If so, great! Now it’s time to focus on your long-term success and work to develop the skills that will ensure you hit the ground running and start to climb up the corporate ladder as quickly as possible. Briefly evaluate what went well for you as well as areas which you felt were the limiting factor.

HR staff look for a certain set of skills in graduates. Because of the preparation you took in year one and two, you should already demonstrate a good degree of these skills, but you’ll find that you are pushed out of your ‘comfort zone’ once you start to take on responsibility in your full-time position.

There are a number of ways you can advance these key skills:

• Communication and presentation skills - you know that reading aloud from a large sheet of text isn’t acceptable even in a tutorial. You can get regular experience of public speaking at your university debating society or at Toastmasters, which is a collection of groups which meet monthly to practice public speaking, and provide constructive feedback and guidance on how to improve. Another advantage of Toastmasters is that you’ll be networking with working professionals, who would be able to offer some guidance through the

early years of your career. To stretch yourself, you should always try to speak to an audience that is large enough to make you slightly nervous!

• Business focus - start to think like an entrepreneur about the company you work for. Imagine you own the company. How could you make more money for the company? Are there any opportunities for business that the company hasn’t seen already? How does the business make money, and which is their most important source of revenue? Is there a way to improve the efficiency of the business? What are the competitors doing and does that provide a threat? In addition, start learning all that you can about the sector you are working in.

• Understanding clients’ needs - who are your company’s clients? What are their business objectives? How do the services of your firm enable them to achieve those objectives? How could you add even more value to your service and give them a reason to use your firm over others?

• leadership - you can demonstrate this by getting further involved with a society and taking on a committee position. You can also demonstrate leadership participating in team sports, community projects and charitable organisations, etc. There are many different interpretations of leadership. The vital thing is to show that you can inspire and influence others effectively to achieve a mutual goal or vision. Companies look for

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How to Ride a bullHow to Ride a bullpeople who can work in a team to make great things happen.

• product and industry knowledge - aim to become an expert in the sector that you will be working in. Not only does this improve your ability to do the job, it also inspires confidence in the people that you do business with, as they will be looking to you for expertise. Take further training and read as much as you can. Be sure to gain a holistic understanding of the banking and finance sector as it will help you understand your clients and wider events in the sector, and give you something to talk about with people working in other sectors.

If you haven’t been offered a full-time position, or if you didn’t secure a penultimate-year internship, then now is the time to start being very proactive. You have two options:

1. Apply for graduate schemes again in the September of your final year, making use of the knowledge and skills you have gained over year 1 and 2 to make you stand out. 2. Start researching the companies that don’t have organised graduate schemes (there are hundreds in the City of London alone) in order to apply either speculatively, or for a specific position.

The current economic climate makes it quite difficult for graduates who have not already secured a position. Due to the recent redundancies between 2007 and 2008, companies can usually find someone with one or

two years experience for any position they advertise, which makes fresh graduates far less appealing and less likely to be hired. This should emphasise the fact that you need to spend your time at university proactively preparing yourself to stand out amongst other candidates and become the type of candidate that the line manager or HR manager wants to have in their team because they see the potential value that you can bring to the firm.

However, it’s not all doom and gloom. If you are starting university this year, then the economic situation may have improved by 2011 - if the economy turns around and we enter another hiring boom you might find it surprisingly easy to get a job.

If you have no success with the graduate schemes then you need to:

1. Decide which sector you want to work in (don’t just say ‘I’ll do anything’ as this will guarantee that you don’t get hired).

2. Find out which companies operate in that sector. 3. Be selective in choosing companies you wantto work for and know the reasons for each choice.

Then you can either apply for specific vacancies, or speculatively. A speculative application will not work if you merely email your CV - instead you need to call the company and find the relevant person to speak to, demonstrate your communication

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and rapport skills on the telephone, and give them a punchy reason why they should be interested in you.

Don’t expect to be offered a job immediately - you may need to say something like ‘I’m graduating in 6 months and am looking to work in the field of asset management. I’m willing to start as .... And do whatever it takes to be successful in this field. Would it be possible to meet you? If not, would you mind if I call you in a couple of months to discuss the possibility of meeting then?’ And then actually call them when you promise to. With a bit of relationship building, and providing that you demonstrate that you are serious, it will be likely that at least one of your target companies will consider employing you in some capacity by the time you graduate.

One point in this is key - if you applied for internships and weren’t successful, work out why you were rejected. Remember that every rejection is feedback and points to an area you need to change and improve. You will only receive continued rejections if you do not

take the feedback on board and continue to apply for positions without changing or developing yourself.

Try to get feedback from interviewers. Is it because you didn’t sell yourself well enough, or because you hadn’t done enough research and didn’t understand the role you were applying for? Did nerves get the better of you in the interview so that you didn’t communicate clearly? If this is the case, they will worry that you would perform the same in a

crucial pitch, so you need to overcome those nerves by getting public speaking experience and doing as many interviews as you possibly can.

Getting a career in

the banking and finance sector can be tricky and requires a lot of determination, but if you’re willing to learn from your mistakes and not accept the first rejection, then there is a good chance that you will make it.

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You should certainly invest in a good book on writing CVs - there is really no excuse for writing a terrible CV when so much guidance is available. A bad CV will prevent even the best candidate from getting a job. It is also possible to get free CV advice from your university careers service or from various online sources.

Many students make simple mistakes on their CV and a careers advisor will be able to point out the most damaging mistakes. However you should also try to find someone with experience of recruitment in finance, as they will be looking for particular things depending on the role. Here are some tips from the recruiters at Benedix:

Below are a few of our top tips on writing a great CV that are often over-looked:

1. Your CV should be a sales document - not simply a description of your life history. Put the most relevant things first. If you have a year’s experience in a brokerage, that should come before your GCSE results. Likewise, if you have a Masters in finance, put that ahead of your experience as a cashier in Tescos. Like a newspaper headline,

your CV needs to catch the recruiters’ attention in the first couple of lines - never assume that they will read to the end of your CV, as they usually won’t. So make sure you have the most interesting points first.

2. Never include a photo! Statistical research has shown that adding a photo can make you half as likely to be invited for interview.

3. Write in terms of your achievements - not just your responsibilities. A recruiter wants to see that you can get results and make things happen.

4. Make the effort to do some research on effective CVs rather than just reeling something off. A great CV will get you the all-important interview, so make use of resources such as your university careers advisors, a good book or the CV training that Benedix provide.

How to wRite a GReat Cv

25

Carefully tailoring your application to the organisations that you are applying to is far more likely to be successful than firing off many near identical applications. Research the organisation thoroughly and use the information you gain. Demonstrate your understanding of the job, the employer and the sector in which it operates in your application and allow your motivation and interest to come through.

applYiNG to bulGe bRaCKet baNKS

• Do your research- It is important to understand the differences between the business areas - use the website- Work out what the company is looking for...take stock of your skills and experience

• Complete online applications including competency and motiva-tional questions- STAR - situation, task, action, result - Unique and interesting examples - Why Investment Banking? • Expect to write several drafts and edit judiciously

• Focus on accomplishments and results not responsibilities

• Write in direct, short, succinct sentences and paragraphs support-ed by powerful action words

• Be accurate and honest - make sure you can support your applica-tion with examples at interview

• Proof read your application care-fully- ask a friend too!

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MIsTAKE 1. Not kNowiNg what role you waNt to doCompanies want you to know exactly what you want to do. Graduates will often say something like ‘I want to do accountancy, corporate finance or trading’. To anyone with experience in finance this sounds like you are confused and have no idea what you want. Accountancy, corporate finance and trading are very different roles and require very different personalities.

People who are passionate about their work do much better, work harder, and contribute more - this is clear to anyone with experience in business or the corporate world. So when they ask you why you want to work in this role, you need the answer that will blow them away. An answer that tells them:

• Why you want this role• How your skills and attributes make you perfect for this role• How you are a good ‘cultural fit’ for the company• What differentiates you from all the other candidates?

MIsTAKE 2.appeariNg igNoraNt

“You need to be sure that this is something you want to do. Don’t be idle beforehand. Prepare before you apply, do your homework. It pays off in the long run. You’ve got to do this early on, and not take it for granted that you’re going to get this job.”

A private equity practioner at a leading investment bank.

Going into an interview with no real understanding of the role or the activities that the company is involved in demonstrates that you do not prepare for important events. This suggests that you would do the same in a professional capacity. No company will risk hiring someone who would not prepare adequately for an essential meeting with an important client. So you need to ensure that your financial knowledge and understanding is up to standard. If the company gets a large percentage of its revenue from underwriting, you need to know what underwriting is and what it would be like to work in this department.

MIsTAKE 3.haviNg No uNique selliNg poiNtsAt graduate fairs many students

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5 Fatal MiStaKeS tHat will Stop You FRoM GettiNG tHe CaReeR oF YouR dReaMS

introduce themselves by listing their educational history. The problem is that every student will have a degree by the end of university, so it is essential that you find a way to differentiate yourself from other candidates.

“We’re not so concerned with what you’ve done in the past - even your university grades don’t have that much weight. The whole as-sessment centre and interview questions are designed to identify your future potential. We under-stand that as a graduate or intern here, you might not have so many experiences in your past. We are looking for something different.”

An assessment specialist at a leading universal bank

MIsTAKE 4.Over-cOnfidence“My qualifications made me over-confident: I thought that since most people here have an under-graduate degree, and I’ve got a double-postgraduate degree, of course I’ll get the job. In terms of attitude, I was over-arrogant. But my first interview brought me right back down to earth.”

Private equity practionioner at a world-leading firm

Having more qualifications than other candidates rarely makes you stand out from the crowd. In fact, at times it can even work against you. Being over-confident because you went

to one of the top ten universities or have an MBA can be a fatal mistake: you should never assume that the employers are desperate to hire you over other candidates.

In an interview with someone who may be your future boss, two questions about you are more important to the interviewer than any others:

• Do I like this person? • Can I work with him or her?

Even if your CV is one of the most impressive in the pile, if you come across as arrogant in interview, all your other achievements will be forgotten. The interviewer is likely to take a personal dislike to you - this is where a little humility can work wonders. Listening, awareness and developing rapport is absolutely essential both at interview and in your professional career in general.

MIsTAKE 5:poor iNterpersoNal skillsImagine you’re interviewing 20 candidates for a position - what type of person are you most likely to remember? The one who smiles and allows you to enjoy the interview, or the one who is extremely formal and seems to lack any sense of humour? Individuals with the best interpersonal skills do best in business, the corporate world and in life in general. Those candidates who build rapport in an interview or in meeting a recruiter at a graduate fair will be considered for positions much more frequently.

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29

aN update oN ReCeNt eveNtS

wHat ReCeNt eveNtS iN tHe SeCtoR MeaN FoR You

In 2008 we have seen some extreme drama in the financial sector. This included the collapse of Bear Stearns and Lehman Brothers as well as the restructuring of many other significant financial institutions. Sectors like banking are undergoing an unprecedented consolidation phase. However, I’ll leave out the history lesson here in order to talk about the implications for you - the student or graduate who is seeking a career in finance.

In a normal situation, someone with experience and a proven track record is almost always preferable to someone who has just left university. However, usually the person with experience can charge a premium (i.e. demand a higher salary). In recent months thousands of workers in the financial sector have lost their jobs and are currently searching for new ones. At the same time, uncertainty about the future has meant that the banks are now reluctant to hire any more than is strictly necessary. This means that there are more (experienced) people looking for jobs, and far fewer jobs to go around.

Many of the graduates from May 2008 have found it difficult to secure positions as the banks limited their ‘ad-hoc’ (vacancy specific) hiring. Those graduates are still looking

for jobs. At the same time, banks are cutting back the numbers of graduates that they will take on in September 2009, so those students who graduate in May 2009 will find that they are competing with a number of experienced professionals and the graduates from 2008 and 2009, for a smaller number of positions than ever before.

In short, there are more students graduating from university each year, and the number of positions available in banking and finance is smaller than ever. Statistically, your chances of securing a position are lower than ever.

For that reason, you must start to take action right now, in order to give yourself the best chance of success. It is clear that with few positions and many job seekers, only the top 10% of candidates will get hired. If you want to secure a position in the banking and finance sector, then you need to get yourself into that top 10%.

tHe QueStioN iS How?

Find out what sector and role suits your abilities, talents and desired lifestyle.

You need to know the sector inside out in order to understand where you would most enjoy working. On a simple basis, whether you like short-term results-based work or longer-term project work will indicate

30

whether you are more suited to, for example, trading or investment banking. However, you need to know what happens in each area of finance and understand every role within the sector that you want to work in. Candidates who apply with the line ‘I want to work in banking, finance or accountancy’ will simply not get hired.

“Normally we recommend that graduates choose the role that is most suited to them and focus solely on getting that role. How-ever, in the current climate, it may be that there are very few institu-tions hiring for your chosen role.

You may need to be a little flex-ible and take the closest position to your target role, or something with a natural line of progression to the role that you eventually want to work in. But you still need to know why you are suited to that role and be able to explain this in an inter-view section.”

Simon Dixon, Head of Training, Benedix

ideNtiFY aNd aCQuiRe tHe SKillS You Need to be

SuCCeSSFul iN YouR aRea

You have three or four years at university to dedicate to becoming one of those top candidates. To do this you need to acquire the skills that would be required in the role you want to work in. For example, to work in sales you will need

excellent communication skills and be confident enough to present your ideas in front of a tough crowd - so start getting public speaking experience in a university society or at an organisation like Toastmasters. If you want to become a trader start learning to trade financial markets now. If you know that your work will require you to manage multiple projects at the same time, then invest in books on time management and make a conscious effort to improve in this area.

Imagine you are about to start your first day of work. What type of person do you need to be to be successful in this job? Are there any areas of weakness that would hold you back? Can you get experience in the meantime that will allow you to overcome this weakness?


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looK at alteRNativeS to tHe GRaduate SCHeMeS

The large banks and institutions have cut the number of places on their graduate and internship schemes. However, outside the largest 10 banks there are still hundreds of smaller companies who still need good candidates for vacancies. Often they will prefer to hire experienced candidates, but there is always the opportunity to sell yourself as a cost-effective, open-minded, fresh and keen alternative.

StaRt Now!

Remember that only the top 10% will likely get hired. You need to be amongst this top few. Very few people are born with the skills and abilities that make them naturally high-achievers. Instead, successful people learn through trial and error, by pushing beyond their comfort zone, by speaking to people with more experience, and by reading books on the areas that they need to master. If you are proactive, you can be amongst the top 10%. However of every 10 people who read this advice, only 1 or 2 will follow it, and this is what makes the top achievers different from the average candidates.

So, now it’s up to you - will you be average or will you put the effort in to becoming the very best you can?

a Note oN peRSoNal SoCial ReSpoNSibilitY

Have you ever wondered why some professions within the City are looked upon in a stereotypically negative light? Self interested, heartless, irresponsible and greedy are just some of the adjectives I’ve heard associated with the City and especially with the banking sector. Of course this is not the whole story and words such as bright, innovative and forward thinking are also associated with the City. However, these negative stereotypes exist for the reason that some professionals working in the City act in a less than responsible manner.

But why is this so? I know of no-one who goes into the City with the intent of becoming selfish and irresponsible, yet many do fall into the trap. The point is that the City is a sector of employment where the risks and rewards are high. This can have the effect of influencing good people to weaken or even lose some of their values. Behaviour and attitude is a factor of circumstance.

I would like to encourage you to think about your values and remain true to them no matter which career route you take. This may be to ‘always act with integrity and the best interests of others in mind’ or to ‘take responsibility for your impact on the world around you’. Whatever your values are, be aware that your lifestyle and working environment can profoundly affect your attitude.

32

This makes it even more important to set out on your journey with the determination to stay true to your principles and values.

You’ll have heard about Corporate Social Responsibility which is the concept whereby organisations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders as well as the environment. CSR is no longer just a buzzword but has now become a crucial part of many companies.

I would like to introduce to you another concept called ‘Personal Social Responsibility’. PSR is recognising that your behaviour has an impact upon others, and holding yourself accountable for your actions. Ideally, a PSR aware person will:

1. Always endeavour to have a positive effect on others.

2. Have a mindset focused on what they can contribute.

3. Ensure that their social and economic activities have a positive or neutral impact on the environment.

Only you have the power to stay responsible and remain true to your values. I urge you to think deeply about the part you have to play in changing the world for the better. You can start now by getting involved in charity work, leading others or

simply by showing compassion towards everyone around you.

As we progress into the 21st Century humanity faces a number of huge challenges including poverty, economic sustainability and climate change. As the brightest students of today, you will become the leaders of tomorrow with the opportunity to solve some of these major problems. Start being the change you see in the world today. I wish you the very best of luck with your future career.

about tHe autHoR

Born in China, Melvin Chen came to study in England at the age of six. He is currently a 3rd year student at Oxford University reading for an MEng in Materials, Economics and Management. He spent the summer of 2008 on a ten week internship at top investment management firm Man Group, working on the Corporate Finance and Business Planning team.

Melvin’s interests include corporate strategy, entrepreneurship and green technology. Outside of academia, Melvin enjoys debating, boxing and dancing. He is currently President of Oxford University Badminton Club.


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FiNaNCe SoCietieSHow to Ride a Bull has been brought to you with generous input and assistance

from five of the top financial careers societies in the United Kingdom:

The Cambridge University Investment Club is the pre-eminent student-run Investment Society operating three funds, namely, the Relative Return Fund, Absolute Return Fund and the new Real Estate Investment Fund.

All CUIC members have the opportunity to help manage the club’s growing Investment Fund, as well as develop their interest in the world of finance & investment. A wide variety of lectures and selected company encounters are on offer to provide information and choices about a career in finance.

Students at all levels of understanding are invited to build their investment knowledge in supportive study groups run by the more experienced sector heads. The club provides beginners with tools, teaching and advice necessary to learn about analysing companies, sectors and markets.

Through a multitude of environments – from the exchange of ideas in small teams to presentations, guest speeches, lectures and networking events – CUIC offers a great training ground for those with a genuine interest in finance and a desire to work in the financial sector.

For more information, please contact [email protected]

The LSE Investment Society was founded in 2003 by a group of students keen to share their knowledge of investment and help kick start the careers of their fellow students. It has now emerged as one of the largest and foremost societies on campus with an expanding membership of about 2000 members and both students and companies applauding its success.

Join us on campus throughout the year by signing up on our stall. For more information, please [email protected]

The Oxford University Investment & Finance Society is a University based organisation that provides information on the role of the financial services sector and related fields. By establishing links with financial firms, both small and large, the Society aims to provide information about key firms and contacts within this sector to those interested in entering the world of finance. With over 850 members, the society assists those firms by providing a platform from which to progress their graduate recruitment programs, inspire potential recruits, and hopefully fulfil our members career aspirations.

OUIFSOXFORD UNIVERSITY INVESTMENT AND FINANCE SOCIETY

34

The UCLU Investment Society was founded in 2001 by a group of students keen on providing members with the necessary tools to acquire a future career within the City. It is now one of the largest societies at UCL hosting corporate events with some of the top City firms, including Morgan Stanley, Citi and BNP Paribas.

The society hosts up to two seminars/corporate excursions per week including CV and interview workshops, foundation and advanced investment seminars and company presentations by prominent figures in the financial world.

The WBSS is proudly celebrating its 10th year as a student society. We’re currently the largest independent student organisation at Warwick and continued growth has been paramount to our success.

Our aim is to provide a medium through which students and employers can meet, share experiences and learn. The academic year is filled with a variety of different events such as industry insights, skills sessions, careers workshops, our annual forum plus a healthy range of sports and social events designed to meet all of our members’ needs.

With the help of our partners, members and executive board, we’re confident the Warwick Business School Society’s 10th year will be its best.

aCKNowledGeMeNtSThanks to everyone who had a hand in making this book possible, especially Ben Dyson, David Langer and my twin brother Leon. I would also like to thank our partner finance societies: Oxford University Investment & Finance Society, LSE Investment Society, UCLU Investment Society, Cambridge University Investment Club, and Warwick Business School Society for their ongoing support and encouragement.

I am most grateful to our sponsor Merrill Lynch for making the writing and production of this guide possible.

Ho

w t

o

Rid

e a

bu

llSo you’ve finally reached your dream university! But what are your motives for being here? I wouldn’t be surprised if a major reason was to enhance your career prospects!

Many students are attracted to the opportunity, lifestyle and rewards that come with working in the banking and finance sector. However most find themselves deeply confused about where to start and how to make the most of their time at university. If this applies to you, then you are reading the right book!

This concise City careers guide will explain in plain and simple terms how to:

Determine the right career and employer for you.

Develop the skills and tools that will make you an excellent applicant.

go about your university course to make yourself highly employable.

Respond effectively to recent changes in the banking and finance sector post september 2008.

This guide contains a step-by-step action plan to get you started on your career journey and is packed full of advice from recruiters and successful graduates. How to Ride a Bull will give you the insight to avoid ‘drifting’ through university and help you to climb the ladder of success.

The City is one of the best places to launch your career but it is also extremely competitive. How will you gain your edge?

”After reading How to Ride a Bull, you will be equipped with the advice you need to have a successful career in Investment Banking.”Merrill Lynch

“In the dynamic world of banking and finance, How to Ride a Bull provides some valuable and up-to-date advice on applying for a job in the sector.”Man Group

how to ride a bull 2009

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