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Recruiting in a Down Market
Sometimes, everything goes according to plan and the economy keeps growing, incomes rise, and productivity goes way up.

Other times, the markets and the overall economy come crashing down, banks fail, and everyone gets laid off.

This category is all about what to do when the economy sinks and you still need to find a job anyway.

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Recruiting in a Down Market, Part 5: How to Avoid Desperation and Shooting Yourself in the Foot, and How to Deliver a Convincing Recruiting Performance

As part of our “Recruiting in a Down Market” presentations, Kevin and I fielded questions on recruiting topics, including how to network without looking desperate or shooting yourself in the foot, and how to properly make cold-calls, send cold-emails, and set up informational interviews – among other recruiting worries in a downturn. We can’t replicate […]
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Recruiting in a Down Market, Part 4: How to Weigh Your “Plan B” Options and Ensure That You Don’t End Up with “Plan Z” Instead

Sure, it’s great if you can defy all odds and get into finance in the midst of a recession. But let’s be honest: there’s always a chance that things may not work out, simply due to probability, bad luck, and the general lack of hiring. So, if you don’t get into investment banking, private equity, […]
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Recruiting in a Down Market, Part 3: How to Go from Networking Newbie to Networking Ninja

In the last article in this series, we looked at 4 ways you can move from “check the box” recruiting to actual recruiting: casting a wide net, considering other geographies, thinking outside banking / consulting, and networking. The first 3 are straightforward, but “networking” often gives prospective financiers more trouble than a shuriken to the […]
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Recruiting in a Down Market, Part 2: Moving from “Check the Box” Recruiting to Actual Recruiting

You’ve just arrived at the newest, hippest downtown bar. Walking inside to meet your friends, your jaw drops in wonder. You notice that 70% of the crowd consists of attractive members of the opposite sex. You sit down to get a drink, and you’re in for another shock: you start getting approached every few minutes. […]
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Recruiting in a Down Market, Part 1: The State of the Market

“Ladies and gentlemen, the state of our union is strong.” -President Bill Clinton’s State of the Union Address, 1998 (If only we could say the same about the state of our industry.) Part 1 of “Recruiting in a Down Market” (the presentation Kevin and I have been giving) begins today, with an overview of how […]
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Why You Should Stop Reading BusinessWeek and Start Using Common Sense Instead: What the Mainstream Media is Missing About Recession Recruiting

“Wall Street is over.” “Students once interested in finance are now thinking about moving to nonprofits and pursuing other interests.” “Investment banking is so over.” While I was on my lovely 24-hour flight and airport adventure (don’t you love it when you miss connections?), I had the misfortune of reading some recent headlines. As usual, […]
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No, Don’t Go Back to School, Become a Ski Bum or Even Think About Chinese Gold Farming: Why You Shouldn’t Time the Market

“Wait, so should I go to business school?  Things will be better 2 years from now, right?” “Should I join the Peace Corps and start my job search afterwards?” “What if I become a ski bum temporarily and then take advantage of the next upturn in the market?” No, no, no. The market might be […]
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10 Questions I Can Answer About the Future of Investment Banking

“What should we put our money in?” “Is this the end of Wall Street?” “Which bank is going to fail next?” “Should I just move to Thailand or become a ski bum?” The talk of rumor-mongers who obsess over every last development? Paranoid message board chatter? Too much refreshing of the Drudge Report each day? […]
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5 Mistakes to Avoid in a Market Meltdown

With all the news over the past few days, I’ve been receiving many panicked emails. Will banking cease to exist? Will the “glory days of M&A” ever return? Is the US really being sold to China once the Fed goes bankrupt? And most importantly, what should you do? I don’t have a crystal ball, but […]
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Damn, It Does NOT Feel Good To Be A Banker: Investment Banking Apocalypse

For those who weren’t paying attention over the weekend, top government officials in China and the US reached an agreement whereby China has agreed to acquire all outstanding stock of the United States at $1.00 per share, with an implied valuation of $1 trillion. Although the US GDP is close to $14 trillion on paper, […]
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5 Ways To Boost Your Recruiting Chances In A Tough Hiring Market

Lately one of my most common questions via email goes something like this: “I’m a rising senior looking at investment banking recruiting in the fall. However, the market is really tough right now, there have been a lot of layoffs, bonuses were down 30%, and it seems like a lot of the bigger banks may […]
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