Welcome and thank you for your interest in the
Finance Club. Whether you come from a Finance
background or are a career switcher, we think that
the Finance Club will be a great resource as you
start on your Finance career at the Ross School of
Business. We have four key silos that can help
address any questions you may have regarding your
recruiting aspirations.
INVESTMENT BANKING
Investment banking spans a range of
activities including underwriting, sales and
trading, and financial advisory services
such as M&A and restructuring. The
Investment Banking silo serves to support
students' recruiting efforts, facilitate
networking opportunities, and provide
members with knowledge of the industry. Our
silo focuses on helping students who have an
interest in the investment banking industry
obtain internship and full time offers in
all the leading banks worldwide. We have the
ability to pool resources from an extensive
and impressive array of backgrounds to
achieve your goals.
CORPORATE FINANCE
Corporate
finance professionals make the financial
decisions of businesses and non-profit
organizations using financial tools and
analysis. The most common areas within
corporate finance include business
development, financial planning and
analysis, treasury, and cost analysis. These
functions work in coordination with one
another to balance long term capital
investment decisions, short term working
capital, and manage risk with the goal of
maximizing shareholder value in corporations
(for profit) and/or organizational impact.
The Corporate Finance silo serves to help
students prepare for interviews, network and
recruit with a wide range of companies.
PRIVATE WEALTH MANAGEMENT
Private Banking professionals provide
comprehensive advice and a broad range of
investment products and services to the
complex needs of high-net-worth investors.
Careers in Private Wealth Management offer
individuals the ability to build their own
business within the framework of an
established firm. The Private Wealth
Management silo will focus on helping
students with questions they may have
entering the Private Wealth Management
profession.
SALES AND TRADING
Sales & Trading encompasses the
fixed-income, equity, currency and commodity
markets and is the distribution arm for an
investment bank. Sales professionals work
with a variety of institutional investors to
distribute securities originated by the
investment bank. Trading’s primary role is
to make markets and to manage the bank’s
risk exposure within their area of
responsibility. At Ross, the Sales & Trading
silo serves to support students’ recruiting
efforts. We focus on helping students
network with alumni from various investment
banks and to prepare them for the rigorous
interview process.
ADVICE FROM YOUR FUTURE PEERS
What to do before coming to school :
"Reach
out to current students who are pursuing
majors / recruiting in your area of
interest (I-banking vs. Corporate
finance vs. Private Equity etc.); to
learn more about job opportunities, key
suggestions on how to go about the
recruiting process, what you want to
know before picking a career in that
area, long-term career prospects etc."
"Try to
get to Ann Arbor by early August. That
way you can get settled in, get to know
your classmates and play a round or two
of golf before Fall-A begins."
"Some of
the best advice I received prior to
starting the MBA program was the
importance of uncompromised focus on
your chosen career path. Those with such
focus during the recruiting process tend
to be the most successful at the
conclusion of the process. Therefore,
during the summer before you start,
spend some serious time thinking and
talking with people about what you want
out of the MBA program and exactly what
career you want to pursue. Investment
Banking recruiting for example, starts a
mere two weeks after the MBA program
starts - knowing without a doubt that
was the direction I was headed in
afforded me a level of focus, early on,
that was instrumental to my success
throughout the process. "
"Though
it may seem counter intuitive, do NOT
reach out to Michigan alumni at the
various investment banks for
informational interviews/discussions
during the summer. Not only will you
have plenty of time and opportunity to
network with the banks throughout the
formal recruiting process, there will be
a lot of practice and information
provided to you by the Finance Club when
you get to campus that is critical to
successful informational interviews and
networking. Speaking from a personal
experience, I reached out to an MD at a
major investment bank over the summer in
an effort to ‘get ahead’. Unprepared,
and certainly unpolished, the
informational interview was all but a
disaster. Though you may not like it,
'the process' is long established and is
there for a reason. Follow it
religiously and you will have success in
the end."
Recruiting Advice:
"You need
to read the WSJ and Dealbook blog
religiously. That being said, don't go
overboard trying to impress the bankers
with your new found knowledge. When the
opportunity presents itself, ask an
intelligent EASY TO ANSWER question
based on your research."
"If you
are an international, keep your options
open and your search reasonably broad,
as the opportunities are less plentiful
than for domestic students. Apply to all
jobs that you would potentially find
interesting, you might find things
opening up for you in an area you never
considered before. Look at companies
that are not hugely popular as well –
you have a good chance of landing the
internship when the competition is busy
elsewhere."
"Recruiting is pretty hectic and at
times, pretty stressful. I’m not sure if
I would have survived without my Finance
Club Study Group. Find a study group
pretty early on. It will definitely pay
off."
"Work on
developing your 'story', and your one
page ACR ('Action Content Result')
resume. Additionally, learn how to use
the resume tool on IMpact, and upload
(but do not publish) your resume on
IMpact. The first quarter is a non-stop
whirlwind that constantly stretches you
thin. Your resume and your 'story' are
two of the most important Q1
deliverables so getting a head start on
them can be a great advantage. "
"Use the
rising MBA2 network to discuss the
career path(s) you are interested in and
to get their advice for both the summer
and your first quarter at Ross. You will
quickly find that the MBA2’s are your
most valuable resources. Ideally do this
in May and early June, as many of the
MBA2 will be in the middle of demanding
internships between early/mid June and
mid August."
General Advice
"There is
a temptation to do everything in the
first quarter. Appointments to
leadership positions are something you
want to attend to right away; doing
multiple case competitions in the first
quarter (not such a great idea). Keep up
with your schoolwork as the people
around you are all as smart as you are.
Definitely join the Finance club if you
want to recruit for finance."
"Reach
out to MBA2s that have either interned
at the firm or industry you’re
interested in. They’ll be an invaluable
resource for most questions you’ll
have."
"I found the
"finance track" to be very helpful.
Definitely try to waive accounting so
you can do Fin 513 and Valuation before
interview season."
"One book
I found particularly helpful for
investment banking was Joshua
Rosenbaum’s Investment Banking:
Valuation, Leveraged Buyouts, and
Mergers and Acquisitions."
"The
Training the Street Seminars are fairly
helpful, especially the Corporate
Valuation Seminar."
INFORMATION FOR INTERNATIONAL STUDENTS
Please refer to the website for International
Center’s website for information on
Immigration-Related Forms, Visas, and adjusting
to life in Ann Arbor
http://internationalcenter.umich.edu
Dear Prospective Member,
