1. Little Investment Bankers Of Rutgers September 14, 2011

2. LIBOR’s Mission
We host a wide range of educational and networking activities throughout the academic year, giving students an optimal chance at obtaining and succeeding at interviews.
Areas of Involvement
Bender Trust Equity Research Project
Rutgers Student Managed Fund
LIBOR Financial Newsletter

3. Agenda Dress Code Expectations of Guest Speaker Interactions
Attendance Policy
Resume Books
New Membership System
Freshman/Sophomore Mentorship Program

4. Dress Code
For all guest speakers meetings, Business Casual attire is mandatory.
Dress neatly pressed, crisp, appropriate attire
Basics:
Dark or Khaki slacks (No Jeans) with crease
Pressed buttoned shirt or blouse
Leather belt and shoes
Ties and Jackets are not necessary
Conservative colored shirts are best
Socks should be the same color as pants, NOT SHOES!
We will notify you in advance if a speaker will be coming - also will be posted on the Events Calendar on our website

5. Guest Speaker Expectations
Cellphones MUST be on silent/off during meetings
When asking a question
“Hello, my name is X, and I am a “Year” and my question is…”
Do not ask inappropriate questions (ie: salary, etc)
Stay attentive during the meetings
No texting
Keep strong eye contact
No side conversations
Come prepared with notepad and pen
Try to invest in a leather padfolio

6. Guest Speaker Expectations
Post-Interaction
Be professional and courteous
Introduce yourself and shake hands
Have a reason to speak with them, rather than just going to say “hi”
If you ask for contact information, make sure to them a thank you note within the next 2 days after meeting them

7. Attendance Policy
Normal meetings will be held on Wednesday evenings, with occasional Monday meetings as well
Attendance will be taken at every meeting
Punctuality is a must. Lateness is NOT acceptable (Especially when we have guest speakers)
Do not leave early during guest speaker presentations

8. Resume Books
We will be collecting resume books for specific opportunities as alumni reach out to us
We will also be posting “General” resume books on the website for recruiters
One book for regular members
Another book specifically for members of RSMF
3 unexcused absences will result in the removal of your resume from the book
Failure to participate in the Bender Trust Equity Research Project or RSMF will also warrant removal

9. New Membership System
General Members: All individuals who are interested in attending meetings are eligible
LIBOR Analysts: Individuals who have been active members of LIBOR for at least 1 year (presented Bender Trust)
LIBOR Associates: Those individuals who have been active members of LIBOR for at least 2 years (presented Bender Trust)
Requirement: Must be willing to mentor at least 1 General Member or Analyst throughout academic year
Receiving Analyst and Associate designation is NOT automatic

10. Freshman/Sophomore Mentorship Program
Who is eligible? Freshman and Sophomore members
How to apply? Please fill out the online application on our website ( Go to Overview -> Join LIBOR -> Mentor Program Applications.
Process: Candidates will be selected and receive a 5-10 minute interview with an Associate or Executive Board member.
Each Mentor will take on 1-2 mentees
Application Deadline: Thursday, September 22 at 11:30 PM

11. Questions?

12. Investment Banking

13. Buy-Side Vs. Sell-Side Sell-Side Buy-Side
Those who SELL services or products to other institutions
Trading services
Research
Securities origination
Includes Investment Banks
Buy-Side
Those who BUY services & products for proprietary use
Hedge Funds
Private Equity (PE) Shops
Asset Managers – Pension / Mutual funds

14. 2 main functions that serve corporations and governments
What is Investment Banking?
Bulge Bracket
Citigroup
Goldman Sachs
JPMorgan
Bank of America Merrill Lynch
Morgan Stanley
Credit Suisse
UBS
Barclays
Deutsche Bank
Middle Market / Boutiques
Lazard, Moelis & Co.
Piper Jaffray
Oppenheimer & Co.
Jefferies & Co.
Thomas Wiesel
Morgan Keegan
Houlihan Lokey
Perella Weinberg Partners
Evercore Partners
Major Players
2 main functions that serve corporations and governments
Raising capital
Equity (Issue Stocks)
Debt (Issue Bonds)
Bank Financing (Term, Bridge, Revolver, etc.)
Strategic advisory
M&A
Financing Alternatives
Industry and Product Coverage Groups

15. What Can You Expect? Analyst Entry level position, 2 year life
80 – 100 hours per week, every week
Excel and PowerPoint are your best friends (pre ‘07)
Minimal client interaction
Modeling, Comps, Precedents
Everything has to be perfect
Pitchbooks, Placemats
Managing Director
Director (2-5 Years)
VP (3 Years)
Associate (4 Years)
Analyst (2-3 Years)

16. Personality You get things done. And done on time.
People can spend 16 hours a day with you
Quantitative and analytical skills are a must
As you advance communication and sales skills will become incredibly important
Able to deal with stress, frustration without complaining
Perfectionist

17. Well Why Would I Want This Job?
You will learn more in your more in your 2 years as an analyst than most will learn in 3-4 years at any other entry level job
You will work on relevant things, things you do will end up on the front page of the WSJ
You will build models and pitchbooks for multi-billion dollar deals
First year analyst salary: $70K + 10K signing bonus + 50K performance bonus
Associates $ K, VP’s $ K, MD’s $1.5MM and up

18. Life After an Analyst Promotion to Associate Business School
Private Equity
Two Year Program
Third Year Opportunity
Venture Capital
Hedge Fund
Corporate Development
Other

19. Sales & Trading

20. Desks
Interest Rate Products Short-Term Interest Rates Municipal Bonds High Yield Investment Grade Macro/Micro Cross-Assets G-10 FX G-10 FX Options EM FX FX Corporate Sales Mortgages
Commodities
Distressed Debt Investing
Bank Loans
Equities
Quant Vol
Index
Index Options
Prime Brokerage
Electronic Trading

21. What do we do? Sales Serve as a hub of information
Provide color to clients and co-workers
Pitch ideas to clients
Trading
Make Markets (Agency Trading)
Provide liquidity
Take the other side of trades
Take principal positions to favor clients when needed
Take prop positions using firm’s capital
Talk about Robert from Munis
Take prop positions using total return swaps
Meraj Khan with Yuan revaluation
Built an inventory of about 100mn short position on USD/CNY
- When China started letting their currency appreciate, we were able to buy back USD for cheaper

22. Skill Sets
Sales
Have a broad knowledge of everything happening on the markets
Outspoken & likable
Be able to explain your ideas with clarity
Trading
Know all about your market
Quantitative (For some desks)
Be creative
Ability to take risks
Both
Be passionate about the markets
Be able to work under pressure
Have strong opinion on everything
Be able to talk intelligently about it

23. What you can do NOW Read WSJ, The Economist, Barron’s, Financial Times
Understand what you are reading and have an opinion
Follow ALL Economic events (Bloomberg.com – Economic Calendar)
Come up with Trade Ideas based on what you read and see in the markets
It’s good to know the technicals, but that’s not enough
Bender Trust, Trading Competition (Take it seriously!!)
Barron’s – more geared towards equities

24. Investment/Asset Management

25. What is Investment Management?
“professional management of various securities (shares, bonds and other securities) and assets (e.g., real estate) in order to meet specified investment goals for the benefit of the investors”
Includes both the sale and purchase of securities throughout all asset classes

26. What are some characteristics of the Investment Management industry?
Investors include both institutions (pension funds, large corporations) and individuals (Michael Jordan, Bill Gates, etc.)
Client-oriented business model
Longer-term focused investing (1-2 years)
Various strategies:
Value
Small Capitalization
Indexed
High Yield
Global Macro
…the list goes on

27. What are the goals of active Investment Management?

28. Questions?

29. Seniors
If you want comments on your resume, it to the E-board now
Pull WSO guides off LIBOR website, print them out, and take them with you wherever you go
Dry clean your suit
Keep up on news
Bloomberg, Dealbook, WSJ, FT, CNBC
Late September
Resume done and reviewed, applying for interviews, checking careerknight daily, attending all information sessions
Get to E-board with questions, happy to set up mock interviews
Mid October
Application for all bulge brackets done, continue applying for anything you qualify for on careerknight
Ready for interviews
Late October
Applications done, keep checking careerknight
Interviews will be starting

30. Juniors
Goal is to land a front-office internship at a bulge-bracket firm (Citi, DB, CS, GS, JPM, UBS, MS, BOA/ML, BARC)
Late September
Pull your resume together and get career services to look it over
Then send it to the E-board to review it, so we can get it in the resume book
Get yourself set on careerknight
Early October
Begin studying for interviews
Make a list of all firms you want to apply to with deadlines
Mid November
Sign up for all interviews you qualify for on careerknight
Apply to all companies on your list
Reach out to Rutgers alumni
Late November
Be ready for interviews
Will likely interview in January and February
Look to sign up for Business Valuation and Venture Capital Analysis with Dr. Ben!

31. Sophomores Goal is to get an internship with a recognizable company
Most bulge bracket firms have specific programs for Sophomores (rising Juniors) and diverse candidates
Sophomore Rotational Programs
Paid 10 – 12 week rotational programs during the summer between Sophomore and Junior year
Typical intern class holds students
Interns rotate within different areas of an Investment Bank
Direct feeder to the Junior (rising Senior) summer analyst program
Firms currently holding sophomore programs include: Citi, UBS, JP Morgan, Goldman Sachs, Credit Suisse
Get involved in organizations at Rutgers
Participate in case competitions (PWC, J&J)

32. Freshmen Goal is to get an internship Late September/Early October
Begin to pull a resume together, visit career services for assistance
Look for opportunities to get college activities on your resume
You want to get high school things off as soon as possible
Join any and all organizations that interest you
Start now, so that by sophomore/junior year you will be in significant leadership positions
Read Vault guides, determine what industry interests you most
November
Be sure you are registered for and are checking careerknight daily
Opportunities may take a while to appear
Reaching out to alumni now will pay dividends in the future, no one expects to hear from freshmen
Buy a subscription to the Wall Street Journal