Tips to Help College Students Land Their First Finance Job

Believe it or not --- recruiting season is fast approaching for seniors.

The future this fall is brightest for college students majoring in science, technology, engineering and math (STEM); however, those with strong finance skills will also find a strong job market. But just because you have a four-year degree in business administration with a finance degree (or go through the AIM program) does not mean you will get your dream job.

So what can upcoming college graduates do to boost their chances of getting their dream entry-level job in finance (asset management, private equity, investment banking, etc.)? Here are some tips for how to increase the odds of landing your dream entry-level finance job.

1. Know what you are good at -- and if you want to be a research analyst, consultant or banker. You should choose early on if you want to specialize in a certain segment or if you want to be more of a generalist. For example, if you are interested in research, then focus on accounting and Excel skills – whereas if you are considering becoming a banker you need to focus on corporate finance and transactional skills. So before you start applying for jobs, you need to know about the different options and career paths available and apply for positions best suited to your interests and talents.

2. Learn everything you can about the company and position you are applying/interviewing for, before you apply or interview there. You need to do research and familiarize yourself with the company. Have they been in the news lately? What stories have been written about them in Bloomberg? Then in your cover letter or during the interview you can note your interest in the company and why you would want to work for the firm. You want to be confidence walking into the interview with a deep understanding of what the company does; go deep.  Show that you're well-versed on the company and its offerings, come up a good question about the company or the industry. Also, always send a follow-up email, but try to add value and personalize it rather than just to check in on the interviewing process.

3. Know or learn the right financial skills. Make sure you are concentrating on highlighting your current and marketable skills. Commonly sought skills include Excel modeling, data collection and analysis, and understanding database and financial software (Bloomberg, Thomson, FactSet, Morningstar, etc.). You need to match your skills specifically with what employers are looking for so that you will have an easier time gaining employment.

4. Fine tune your "soft" skills. These are the nontechnical, interpersonal skills, like effective communication, strong teamwork, leadership, problem solving and negotiation skills. It's these soft skills that will make you more employable and well- rounded to a potential employer. Identify the skills where you may not be strongest and focus on improving them. The best way to do this is with practice – and network as much as possible and take as many interviewing opportunities as you can.

5.  Gain practical experience. One of the best ways for college seniors to improve their job prospects is by building relevant experience with an internship or mentorship. These help you develop and demonstrate the specific skills employers are demanding, and serve as key stepping stones to full-time employment. This is especially true in investment banking and asset management."

6. Talk about your projects and knowledge. During interviews you want to set yourself apart from others with a sample of your work, whether it is from an internship or a class project. Recruiters want examples of your knowledge so provide them with a sample of your writing and research abilities. Be sure to have a professional LinkedIn profile, so prospective employers can easily find you -- and you can find and network with prospective employers.

7. Network, network, network. Students need to create a strong network of affiliations, including classmates, faculty, alumni and professionals in your discipline. Belong to student clubs and attend meetings held by professional organizations, such as CFA Society. These meetings are a terrific way to network with people in your field and learn about potential positions. Find a mentor who is knowledgeable in the field of study you wish to pursue – they can help you in countless ways.

8. Participate in local industry events, like CFA luncheons, forums and competitions. Don’t miss opportunities to attend professional events in order to learn more and network with people working in the finance industry.

9. Tailor your resume to each position -- and avoid jargon and simply listing keywords. You need to develop a resume that reflects the finance professional you want to be by detailing every research project or investment analysis you've completed or been a part of, regardless of its size or scope. 

10. Don't just apply to the Wall Street firms. Don't be afraid to make your search wide-ranging, not only geographically but in the areas of finance you might like to work on. Look for companies in different parts of the industry – you might find excellent entry level financial research positions in IT, manufacturing, healthcare, and retail.

11. Know your interviewer. Prior to an interview, try to learn with whom you will be meeting and use LinkedIn and the internet to learn as much as you can about them. This shows initiative and provides an opportunity to identify similarities you might share with your interviewer. The most positive feedback from an interviewer comes when a candidate is able to make a personal connection.

12. Finally, be real about your salary expectation. You need to be realistic and don't expect that you are going to get $100K+ the first year! Show an eagerness to work in the industry and the rewards will come to you based on your success and long-run contributions to the firm.

And enjoy the rest of summer and best of luck in your job search this fall!

An All-Star Line-up of Presenters - Check it out

BOND WEEK! The Bond Trifecta

 

Bucks and Bonds - Marc Lasry Co-Owner Milwaukee Bucks & Chairman, Co-Founder Avenue Capital Group Monday, June 23, 9:30 am at the Wisconsin Club   Bonds, Bonds and More Bonds - Jeff Sherman, CFA Portfolio Manager, DoubleLine Capital Wednesday, June 25, 12:00 pm at the Milwaukee Athletic Club   Brewers and Bonds - Mark Attanasio Co-Owner Milwaukee Brewers & Co-Founder Crescent Capital Group Friday, June 27, 12:00 pm at the Wisconsin Club    (Details on these meetings are provided below)                    CFA Society of Milwaukee has secured three of the biggest presenters to ever come before our organization...and they will all appear in a single week - Bond Week!  In light of the quality of this programming, we've secured large venues, obtained enthusiastic sponsors from our community, and will be inviting others from the Milwaukee professional community to the meetings, as well as your guests.  CFA Society of Milwaukee has also enlisted our Society-supported partners, UW - Milwaukee, Marquette University, and Make A Difference Wisconsin, to ensure successful events.    Please join us for at least one if not all three events.  Bring co-workers, clients, friends, family and others who may be interested.  Even if you can't attend, please pass along the invite to others.  These high-profile names are worthy of a large audience, which will attract greater programming opportunities in the future.  A version of this event announcement that is more appropriate for non-Society members is attached - to view a copy click here!   Surveys of our membership have identified "growing recognition of the CFA Charter" as one of the highest priorities.  Bond Week! will be presented as an Investors 1st event - our public outreach arm.  We will take two minutes at the beginning of each meeting to highlight the value of CFA Charterholders to investors.  The public should know who CFAs are and why we should be involved in their investments.  Help us deliver a large turnout for these events.    Despite larger than normal venues, we anticipate that these meetings will sell out. CFA Society of Milwaukee members have a very brief advance notice of these meetings...beginning tomorrow, they will be open to the public. Sign up today - DO NOT WAIT.    _____________________________________________________________________    Bucks and Bonds with Marc Lasry - Monday, June 23rd 9:30 am at the Wisconsin Club - Continental Breakfast - $20 for all attendees - Register Here   Bonds, Bonds, and More Bonds with Jeff Sherman - Wed., June 25th 12:00 pm at the Milwaukee Athletic Club - Lunch - Free for CFA Society of Milwaukee Members, $20 for others - This event is free to Society Members as our optional Annual Meeting will immediately follow the presentation - Register Here   Brewers and Bonds with Mark Attanasio - Friday, June 27th 12:00 pm at the Wisconsin Club - Lunch - $20 for all attendees - Register Here     _____________________________________________________________________   Bucks and Bonds - Marc Lasry Monday, June 23, 9:30 am at the Wisconsin Club --  Register Here --                   The Milwaukee Bucks were purchased by a group led by Marc Lasry and Wesley Edens two weeks ago.  We are pleased to have Mr. Lasry speaking to CFA Society of Milwaukee about investing in an NBA team and the career that positioned him to make this large investment.  He will share his market outlook as an expert in distressed asset investing as Chairman of Avenue Capital Group.   Mr. Lasry, born in Morocco, emigrated to the U.S. with his family when he was seven years old.  His father was a computer programmer and his mother a schoolteacher.  After growing up in West Hartford, Connecticut, he earned a B.A. in History from Clark University and a J. D. from New York Law School.  He clerked for the Honorable Edward Ryan, former Chief Bankruptcy Judge of the Southern District of New York and then turned to the investments world, where he has spent 30 years investing in distressed assets.  He co-founded the hedge fund Avenue Capital Group with his sister Sonia in 1995.  Avenue Capital manages over $12 billion of assets.   _______________________________________________________________________________      Bonds, Bonds and More Bonds - Jeff Sherman, CFA Wednesday, June 25, 12:00 pm at the Milwaukee Athletic Club -- Register Here --               Bonds have provided strong returns since the financial crisis in 2008.  After a long, strong run, what's next?  Jeff Sherman, CFA and member of the CFA Society of Los Angeles, will talk about how we got here, where we are today, and what the future holds for bond investors.  Mr. Sherman is a highly engaging speaker who will identify economic, political, and demographic trends impacting the outlook for bonds.  In addition, we he'll likely touch on timely topics such as "Is the Chinese yuan moving toward reserve status and what impact would that have?"   With interest rates at historically low levels and Europe introducing negative interest rates in the last week, this should be a very timely presentation.  Whether you are a bond professional or simply a curious investor, you'll find his presentation insightful and enlightening.    Jeff holds a B.S. in Applied Mathematics from the University of the Pacific and a M.S. in Financial Engineering from the Claremont Graduate University.  He is a CFA charterholder.  He joined DoubleLine in 2009 and is a portfolio manager utilizing derivative-based and multi-asset strategies.  He is also a member of the firm's Fixed Income Asset Allocation Committee.  Mr. Sherman works closely with the firm's founder and Chairman, Jeffery Gundlach.  DoubleLine is a high-performing fixed income manager investing approximately $50 billion of assets.    Following this presentation, we will hold a brief Annual Meeting for CFA Society of Milwaukee members who would like to stay.   ______________________________________________________________________________      Brewers and Bonds - Mark Attanasio Friday, June 27, 12:00 pm at the Wisconsin Club -- Register Here --              Ten years ago, Mark Attanasio and his investment group purchased the Milwaukee Brewers.  While the team had a wonderful new stadium, many of its seats went empty following a streak of 12 losing seasons.  Today, the team has one of the leading records in Major League Baseball.  Mr. Attanasio will talk about his investment in the team, changes that have brought success to the team, MLB as an alternative investment, and the career that positioned him to and prepared him for investing in a baseball team.  Mr. Attanasio will discuss his outlook as a co-founder and Managing Partner of Crescent Capital Group an investment firm with over $10 billion of assets.   Mr. Attanasio grew up in the Bronx and New Jersey and received a B.A. from Brown University and a J.D. from Columbia Law School.  A life-long love for baseball ultimately led to his purchase of the Brewer's controlling interest.  He is also a part-owner of the Milwaukee Admirals and currently lives in Los Angeles...when he's not in Milwaukee.   _______________________________________________________________________________     CFA Society of Milwaukee thanks and is proud to have the following organizations as sponsors of Bond Week!:                                                  The following organizations are partners for these events: Make A Difference Wisconsin, Marquette University, and University of Wisconsin - Milwaukee's Lubar School of Business. ________________________________________________________     www.investors1st.org   Bond Week! is an Investors 1st event.  Investors 1st , a project of CFA Society of Milwaukee, provides events, information, and other resources to the public.  We are pleased to present Bond Week! to the greater Milwaukee community as a part of our mission to contribute to a growing awareness and understanding of investments.

Krause's Belmont Picks

I'm sorry to say that California Chrome will not be the next Triple Crown winner. He has had impressive wins thus far in the Derby and Preakness; however, he will not be the 12th horse to enter the elite group of Thoroughbred champions (i.e. Citation, Secretariat, Seattle Slew, Affirmed, etc.). Why? Because he is only a good horse, not a great one. #5 Ride on Curlin, #8 Commissioner, or #9 Wicked Strong could finish ahead of him.



Best of the Field (#2 California Chrome, odds: 3:5). I would be delighted if Victor Espinoza (jockey) and Art Sherman (trainer) were in the winner's circle on Saturday. This has been a great story and California Chrome has met or exceeded everyone's expectations. The problem will come with the 1 1/2 mile distance and the zany New York crowd - the place will be loud and crazy. He will finish in the money, but the odds are horrible and the winning ticket, if you have one, will probably be worth more as a collector's item if he wins. Good luck.



Best Value Pick (#5 Ride on Curlin, odds 12:1). John Velazquez will be the third jockey to ride this horse in the Triple Crown, which is odd. Velazquez is a fine jockey and Ride on Curlin has run well this week in practice. He was a solid second in the Preakness - and although he might be a bit tired - so is California Chrome. The odds are very good for #5 and this could be a good payout. He will likely be in the money and could be the answer to a trivia question about who beat California Chrome in the Belmont.



Long Shot (#8 Commissioner, odds 20:1).  I like this horse. His pedigree includes Northern Dancer, Bold Ruler and  A.P. Indy, some of my favorite horses - and Todd Pletcher is the trainer. He's really good. Although his record looks weak, he was second in the Peter Pan, which was run at Belmont, and the jockey (Javier Castellano) is a proven winner. The owners want to win the Belmont and have talked about this since January. The odds are very attractive and this could be another long-shot Belmont winner.

Betting: You should include #2, #5 and #8 in your exotics. The best bet of the day will be the Win/Place/Show on #5 (Ride on Curlin). Good luck and I hope California Chrome wins, but don't bet on it...

Krause's Preakness Predictions

Here are Dr. Krause's 2014 Preakness picks. This is a very weak field with only a few Derby horses making the trip to Baltimore’s Pimlico race track. Nevertheless, this might provide some interesting betting opportunities....



Best of the Field: #3 California Chrome (3-5 odds). This was my Derby pick and he did not disappoint, running a near perfect race in Louisville. While California Chrome won the Derby with a slow time; he did run strongly down the stretch, opening up on the other horses and coasting to the win. With only two weeks between the Derby and Preakness, he still appears to have plenty of gas in the tank.  He is the obvious favorite and the poor betting odds indicate this.  I’d avoid a straight WPS bet, but I believe he should be included in your exotics. He sure looks like the winner, but this is horse racing and bad luck or another horse coming out of nowhere could produce a huge upset.



Value Horse: #8 Social Inclusion (5-1 odds). Social Inclusion missed running in the Derby, so this is the race that his owners and  85-year-old trainer, Manny Azpurua, have been targeting. Luis Contreras is a good jockey who has been aboard in all three of Social Inclusion’s starts, this horse has good speed and the ability to run just off the pace of the early speed horses.  Very lightly raced, he is rested and has a good opportunity to catch California Chrome down the stretch. This is a good WPS bet.



Long Shot: #7 Kid Cruz (20:1 odds). Like the Miami Heat, this horse is a closer. Earlier in the year at New York’s Aqueduct, where it was freezing, Kid Cruz made up ten lengths in the stretch – and has been a strong closer throughout the spring. While he’s a long-shot, he has showed continual improvement. If the pace is slow, as it was in the Derby, then Kid Cruz could come out of nowhere. He’s worth a WPS and looks good look underneath California Chrome and Social Inclusion in your exotic wagers.

Good luck!

May 15th is "Investors 1st Day"

May 15, 2014, will be Investors 1st Day across the State of Wisconsin as proclaimed by Gov. Scott Walker. The governor made this proclamation for the second year in a row at the request of CFA Society of Milwaukee. Last year, the CFA Society created Investors 1st Day and partnered with CFA Society of Madison to make it a statewide initiative. The CFA Institute recognized our Society at the end of 2013, presenting its Most Innovative Project award to Milwaukee based on our Investors 1st efforts. This year, based on our project and successes, Investors 1st has gone global with over 60 of the total 143 worldwide Societies participating. We're honored to have over 40% of all CFA Societies on board. Here is their press release as well as a handout we are distributing to over 600 attendees of the Make A Difference Wisconsin Annual Investment Conference on Investors 1st Day. We are proud to continue our partnership with this fine organization that is focused on improving financial literacy in Wisconsin schools. CFA Society of Milwaukee supports this organization as the number one source of volunteers for their programs as well as financially. Empowering youth to make sound financial decisions and take control of their financial futures is highly aligned with our Society's mission and makes an important contribution to the communities in which we live. We hope you'll share information about Investors 1st with your staff and clients. The project was designed to build awareness of the CFA brand over time by making the public, politicians, and media aware of all the good things we do on their behalf. There is a lot of work ahead, but establishing a global voice is a good start. We anticipate further global growth next year. Happy Investors 1st Day!

CFA Institute’s "Discover a Career in Finance" event on May 15, 2014

 

 

 

 

 

 

Students: If you’re considering a career in investment, the pressure to stand out from your peers has never been higher. On Thursday 15th May, CFA Institute will livestream their ‘Discover a Career in Finance’ event around the world, for students across all regions to find out more about the investment industry and how to pursue a career within it as well as hear from industry experts on how you can be successful.  

This Thursday, 15 May 2014, CFA Institute will hosts their “Discover a Career in Finance Open Day” online for students around the world. Register now at: http://bit.ly/1eEoPfF  or http://www.efinancialcareers-recruiter.com/cfa2014/

 

Graduate recruiters including companies such as Credit Suisse, Swiss & Global Asset Management, GAM and PICTET will be on hand to tackle your questions and offer advice to help you through the recruitment process. CFA Institute will invite some of its members and exam candidates to offer an insight into their roles in the investment industry, and they can take your questions about their career path.

 

Paul Zandt Obituary

Paul Zandt

Paul Zandt experienced a severe heart attack and died unexpectedly on May 8, 2014, at the age of 50. Paul was the beloved husband of Joan (nee Cortichiato) for 27 years and the devoted father of Matthew, Daniel, and Ryan.

Paul graduated from Marquette University with a Masters of Business Administration in 2006 and was an essential member of the inaugural Applied Investment Management (AIM) class. Paul obtained his Bachelors of Science degree in Meteorology from the University of Wisconsin-Madison in 1986.

He was an on-air meteorologist with WTMJ-TV4 and AM-620 WTMJ radio from 1993 – 2004. Paul provided on-air weather reports for morning and evening television and radio newscasts.  He also authored a weather column for the Milwaukee Journal/Sentinel and developed and presented weather seminars for area schools and community groups.

While in the AIM program at Marquette, Paul worked as an intern and upon graduation went to work for Cleary Gull in Milwaukee. He served as a portfolio analyst and client advisor. Paul conducted asset allocation and Monte Carlo analysis for institutional and high net worth clients; performed research and due diligence on equity/fixed income mutual funds; and provided performance commentary.

In March 2010, Paul was awarded his Chartered Financial Analyst certification. He also was a volunteer presenter with Make a Difference – Wisconsin since May 2009. He delivered financial education programs to area high school students.

In January 2014, Paul joined SJA Financial Advisory in Menomonee Falls as a portfolio manager. He was responsible for creating, implementing and maintaining investment portfolios; monitoring portfolio allocations; and researching and recommending investment options for clients.

Paul was a member of the popular Milwaukee-area cover band, Pulse. He performed keyboards and sang vocals for the group. Paul was trained on classical music and began playing jazz and rock when he was in his teens.  After ending his career as a TV weatherman and moving into finance, he returned to music and played in local bands that included the Itch, Second Wave and Jackie Brown and the Boys.

An intelligent, accomplished and thoughtful individual, we mourn the loss of Paul Zandt. He was a joy to be around and the world is a better place because of him.

A gathering to honor Paul will be held at Holy Apostles Catholic Parish (16000 W. National Ave., New Berlin) on Friday, May 16; from 12:30-4:30 pm with a Mass of Christian Burial at 4:30 pm. Memorials to the family for his children's education are appreciated.

See more at: http://www.legacy.com/obituaries/jsonline/obituary.aspx?n=paul-a-zandt&pid=170981586&fhid=5686#sthash.Ir2Cs27B.dpuf

Kentucky Derby Picks 2014

Back again for the fourth year, here are Dr. David Krause's Kentucky Derby picks. This is a weak field with many promising colts sidelined with injuries. Nevertheless, this is the most exciting thoroughbred racing event of the year. So party on....



Best of the Field: California Chrome (5-2 odds). This California-bred speed horse in the class of the field (note: it has been over 50 years since a California horse has won the Derby). Don't be fooled because his trainer (Art Sherman) is 77 years old - this is a beautiful and talented horse and skilled jockey (Victor Espinoza). CC will get out front early and run away - especially from the 5 post - and the large 20 horse field will make it difficult for a stalker to come through the pack. This will be the betting favorite on Saturday so the odds will not provide a big payout, but include him in exotics and you can have a good payday.



Value Horse: Danza (10-1 odds). If it is possible for a horse to come from behind, Danza will be the one that can do it. Winner of the Arkansas Derby, with Joe Bravo at the reins and trained by Todd Pletcher, this is colt that might be on a hot streak similar to California Chrome. A 5 length winner (as a 40-1 long shot) in the Arkansas Derby, this lightly raced horse might be wearing the roses come late Saturday afternoon. The #4 post is a good draw and if Bravo can keep Danza in mid-pack for much of the race, this could be the horse that closes down the stretch.



Long Shot: Candy Boy (20:1 odds). Another California-bred horse, Candy Boy has one of the best jockeys in the business - Gary Stevens. According to the Kentucky rail-birds, Candy Boy has looked as good this week as any horse in the field. This is another horse that can come from behind to surprise the experts. Steven, who has won 9 triple crown races in his career, is 51 years old and still capable of leading this talented colt in the front. The #18 post will be a challenge; however, in past Derby's this has not been a big issue.

Betting: Pairing up the three horse above into an Exacta box could be a nice play or taking Danza or Candy Box in a WPS bet might provide a decent ROI. In any case, bet responsibly and enjoy the Kentucky Derby!