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Little Investment Bankers Of Rutgers September 14, 2011

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Presentation on theme: "Little Investment Bankers Of Rutgers September 14, 2011"— Presentation transcript:

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 ( – 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

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