Friday, March 21, 2008

Recipe for an IM Internship

Serves 1
Time: ~ 29 years

First, secure admission to one MBA program. Attainment of CFA designation helpful but not required.

Second, review your resume with at least 8 people in order to get the maximum contradictory advice, ultimately disregarding most of it.

Third, attend at least:
  • 20 firm networking events, representing at least
  • 31 hours of non-homework time
  • countless career service events, lunch and learns, career coach/advisor sessions

Fourth, prepare a stock pitch by holing up in your apartment for 4 weeks over winter break. Ideally you would have done this prior to the fall quarter so that you could pitch to the IMG before break but do not be deterred if you end up pitching the day before your interviews begin, or not at all, and if most of your stock prep occurs the week before your interviews begin. (Various stock pitch games offered by Fidelity and Morgan Stanley helpful but not required.)

Fifth, write at least 14 cover letters. (If you are wise/unlucky, you may write close to 40.) Email and wait.

Sixth, attend wInterview - for maximum stress and minimum sleep, volunteer to be a mock interview demonstration victim. Follow with at least 4 mock interviews which will alternatively give you a false sense confidence/false sense of panic. Do not be distracted by feelings of complete unemployability. Do not panic when your stocks shoot past your price targets (most likely, in an "interesting" market, they will fall to new lows in a few days anyway.)

(Do not forget to continue reading the news. Attending class and doing homework is highly recommended.)

Seventh, bid generously and wisely and remember that making the closed lists means very little. Be ready to schedule 10+ first-round interviews per week for a couple weeks at least.

Eighth, retain dignity and sense of hope even first-round after first-round ends with a ding.

Ninth, feel free to decline second rounds with any firm that left you feeling completely unimpressed with post-interview even if your classmates think this is insanity and you find yourself one ding away from an off-campus search.

Tenth, feel free to accept an offer from your first choice firm on the spot. Be decisive. Bring an end to the madness.

(Results likely to vary by student.)

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