Sophomore Recruiting Guide and Best Practices NYUAD Business and Finance Society Spring 2024 I. Timelines by Region Roles in the United States Applications open as early as October of your sophomore fall (18 months before the internships begin), many are open already. Most will open up starting in January and recruiting processes go on until around April/May The process typically includes: submission of application -> online tests -> HireVue interviews -> first/second round interviews -> case round -> final round (Superday) Begin reviewing open roles through various sources including: Adventis, Wall Street Oasis, Linkedin Jobs, Handshake Aim to apply to roles within the few days, or at most within the first week, avoid applying later than two weeks as your application may not be reviewed or considered In general, apply into as many roles as possible, across areas and divisions, open yourself to as many opportunities as possible. M&A in general has been slow this past year and the market for hiring has been rough, so maximize your potential for success by applying across teams and roles US-based roles open very early, so leading up to your sophomore spring semester, accumulate as many relevant experiences as possible (internships, fellowships, extracurriculars) Some relevant opportunities to look into include: - BFS Student Investment Fund - Fellowship programs (D.E. Shaw Fellowship, etc) - Diversity based events (Blackstone Women Program, diversity insight programs) - Competitive informational workshops (Goldman Sachs Virtual Insight Series and so on) - Internships at UAE-based boutique investment banks - VC experience in Abu Dhabi/ Dubai - Investment competitions and workshops (Bloomberg) - SIGs on campus: Violet Ventures, Consulting Collective, StartAD - Spring Insight Weeks in the UK *Note that US-based internships will require you to have work authorization, through the Global Studies Track, which has requirements including: - 3.5 minimum cumulative GPA at the time of the application - Junior spring semester in Abu Dhabi - Review Global Education materials for more specific requirements - This may not necessarily be the case if the company sponsors visas for international students (highly unlikely) - Note that Global Studies gives you a CPT, not OPT With the global studies track, if you are not a US-citizen, these are the relevant answers to the following questions: Do you have work authorization in the United States: Yes Will you now or in the future require sponsorship from the firm to work/ continue working: Yes - Why? Because if you get a return offer post the internship, you will need to apply for a work visa under the H1-B category, requiring sponsorship from the firm Roles in the UK Summer Analyst applications open early June onwards, with the busiest months being August and September, offers typically out by the end of the year UK role opening dates are well-tracked through resources including: Bristol Tracker, LSE Tracker, King’s M&A Tracker The UK does not have as many visa constraints compared to the US, more strategic opportunities given that it is easier to move there full-time with a return offer The process typically includes: submission of application -> online tests -> HireVue interviews -> first round/telephone interviews -> second round interviews -> case round -> final round (Assessment Center) Circumvent the entire application process by landing a Spring Insight Week, which may convert to a summer role Roles in the UAE Applications open around from October/November to January of your junior year, most competitive given the preference for EU masters students among regions, with several rounds of interviews Focus on off-cycle internships and summer internships in the UAE, applications for off-cycle roles are typically ad-hoc and open randomly throughout the Fall semester As such, there is no set timeline for when UAE-based roles open up, so keep checking on Linkedin, Handshake, and the BFS group for updates and opening roles *For application processes outside these areas (Hong Kong, Singapore, Europe), reach out to alumni or drop a text on the BFS Whatsapp group II. Applying to a Role Given the prestige and competitiveness of different positions (front office vs back/middle office), apply across areas and understand which areas align with your experiences/ story *With undergraduate research experience or trading backgrounds -> consider applying to Macro/ Equity Research roles Front office roles including pure M&A, investment banking and private equity usually require specific relevant experiences, but this is not always the case Best Practices - Make a spreadsheet to keep track of your applications, note the date of submission, role title and team/division applied to Review your resume with the prescribed formatted template, ensure your Linkedin is aligned with your resume, use action verbs and highlight results, tangible impact generated by your involvement in the team/division - - If the role requires a Cover Letter, ensure it is highly specific and unique to the role/ firm, research and check off as many boxes in the job description as possible, connecting your experiences with their requirements, name drop NYUAD alumni or employees you have Coffee Chatted Submit your application, then reach out to five Analysts/ Associates at the firm in your specific division, cold email through contacts from Hunter.io, Rocket Reach, Apollo Contact NYUAD alumni at the firm and have a Virtual Coffee Chat, learning about the role, team structure, analyst day-to-day responsibilities, and their experiences During interviews, name drop your Coffee Chat and mention unique role/team/firm related things you learned about After interviews, reach out to your interviewers with a personal note, thanking them III. Prepping for Recruiting Processes Online Tests Prepare for online tests through reading up on Wall Street Oasis, most OTs are a combination of quantitative/ numerical reasoning and a personality/ fit assessment Technical Interviews Technical rounds require the most preparation, ensure you have brushed up on your concepts of accounting and finance using the relevant guides - 400 Questions of Investment Banking, Wall Street Prep’s Red Book - For more niche interviews including Real Estate, Private Equity and Credit, etc look into more specific technical prep resources (reach out to us) Modeling / Case Studies Financial Modeling knowledge (DCF, Comps and LBO modeling) may be necessary for more advanced levels of interviews or case studies - Learn to build these models from scratch using the three financial statements - Understand how to build these models by downloading data from Capital IQ and Factset onwards - Youtube videos are a great place to start, the BFS Student Investment Fund is also a great resource - Not all divisions/ teams will require modeling skills Case studies vary by firm and usually follow a recurring format, research on WSO/ Glassdoor and online forums. They are usually a variation of an Investment Memo or Three-Statement Analysis Behavioural/ Fit Interviews - Have a 1-2 minute introduction prepped (NYUAD, economics major, professional experiences, other experiences, how everything ties in), build a unique story Tell me about a time when… (review the 400 Questions guide and Red Book for situational questions) Be yourself and speak to experiences that are honest and meaningful to you Have a mix of professional and personal experiences to talk about - Key info about the firm: CEO, founders, clients, areas/ services and products, what differentiates the firm, office location and rationale for why you want to be in that city Why the firm, emphasis on training, having spoken to alumni… Note down two recent deals / transactions in detail, why they are relevant and interesting Why IB/ PE/ VC 2 recent financial news pieces that intrigued you Trends in the M&A space Schedule a mock interview with BFS E-board members Always, always prepare a list of insightful questions to ask your interviewer Ideally reach out to Analysts/ Associates in the team you are interviewing for before the interview for a coffee chat, gain unique insights that you can talk about during your interview IV. General Notes Consider applying for off-cycle internships, semester internships and research programs to set yourself up well, focus on the specific timelines for each region If you plan on applying across the US, UK and UAE, the busiest months will likely be March-May and September-October Recruiting is very time consuming, stressful and often done in parallel with other coursework, the processes are very competitive That being said, plenty of offers are handed out every year from NYUAD, we’ve all been there so reach out to BFS E-board members for firm-specific details/ contacts, prep guides, materials and general advice, all the best! V. Resources To improve your knowledge of the markets, recent updates ● ● ● ● ● ● ● ● ● Seeking Alpha – Useful for finding viewpoints on equities and markets more generally. Great for interview preparation (‘What company do you find interesting?’ etc). Comments are a great source of rebuttal to the authors viewpoints and theses. Financial Times – Most universities offer this for free, have a search online for your universities access mechanism. Lots of generally unbiased overviews and updates, use the alerts tool to follow topics of interest to you and also review comments on articles to see how people are reacting to different news articles to gain an additional insight beyond just the objective media portrayals. Wall Street Journal – Similar to the Financial Times, but often much more in depth but US leaning. WSO – Would use the forums with a pinch of salt, but the resources are quite helpful. Mergers & Inquisitions – A lot of articles about a career in high finance, useful for understanding the breadth of the industry and picking up useful information. BRIEFINGS by Goldman Sachs – Weekly updates curated by GS. Exec Sum (Litquidity) - Daily newsletter that curates major news from Wall Street to Silicon Valley, with a touch of humor and memes. Finimize – Investing insights daily. Morning Brew – Daily newsletter on finance, business, politics more broadly. ● ● ● ● The Investors Podcast Economist Podcast Exchanges Podcast by GS Dartmouth Partners - headhunting recruiter, follow employees on Linkedin for new positions/ updates opening up Consulting case studies, modeling guides, technicals prep resources, CVs and cover letters in the BFS Career Resources folder
