Frighteningly impressive résumés of junior bankers in the 2nd tier
We've noted on several occasions that the sort of person who gets a junior job in an investment bank these days has a frighteningly impressive CV. Take the 2012 analyst class at J.P.Morgan in London, most of which has completed multiple internships, speaks multiple languages and has multiple degrees.
J.P. Morgan is indisputably a top tier bank, so you might argue that such résumé rectitude is par for the course: only the best of the best with the most impeccable banking credentials will get in. Much the same could be said for Goldman Sachs, which revealed yesterday that it only accepts 2% of the applicants for its summer internship programmes.
Sanford Bernstein is an equities research firm with a brokerage house attached.
Bernstein does, however, claim to be 'widely recognized as Wall Street's top research firm,' which might explain why the résumé of its latest associate-level hire, Anojja Shah, reads like a check list of top firms, top schools, and top publishing companies.
Brad Hintz, Bernstein's research analyst covering the securities and asset management industries, announced Shah's arrival earlier this week. In his missive, he revealed that Shah - who looks very youthful - is in possession of:
• An undergraduate degree from Wharton.
• An MBA from Columbia.
• A stint at Dow Jones and at McGraw Hill.
• Stints at Deutsche Bank, Citigroup, and Merrill Lynch.
Shah's depth of experience looks like bad news for anyone currently studying an MBA and hoping to skip into finance when it's finished. She's joining as a senior associate (MBAs join as junior associates), but it looks a lot like even comparatively junior bankers joining non-'bulge bracket' banks need impeccable academic qualifications and big name firms on their résumés now.
Although her CV looks spotless, Shah said non-spotless résumé owners shouldn't be disheartened. "It's a tough market now, but you can make it if you're persistent," she told us.