Banking jobs are hard to land, even for the brightest MBAs. Here’s a look at some bold moves brought on by desperate times.
Care for a donut hole, Mr. Blankfein?
At 23, Michael Penn knows it’s tough to break into investment banking, and he’ll take any business development role. The University of Arizona business management grad, now pursuing a master's degree in global management at Fordham, isn’t just letting his resume sink in the circular file. Someone sent Business Insider a photo of the smiling, suit-and-tie-clad Penn outside the Battery Park ferry terminal near Goldman Sachs and the NYMEX, giving out free donut holes and coffee along with his resume from a table emblazoned with the URL for his website.
“I am not a braggart!”
Lest we forget the laughs at the expense of an NYU student named Mark who sent a letter dated Jan. 23, 2011, and addressed to “Sir or Madame” at J.P. Morgan, pimping out his excessive pride and prowess. “I am unequivocally the most unflaggingly hard worker I know, and I love self-improvement.” What’s to improve? As Mark boasts, he scored a nearly perfect GPA at NYU, “and in the same time I managed to bench double my bodyweight and do 35 pull-ups.” Don’t worry, Mr. Dimon, Mark promises modesty along with hard work: “I am not a braggart or conceited, I just want to outline my usefulness. Egos can be a huge liability, and I try not to have one.”
Impossible is Nothing!
Aleksey Vayner’s 2006 video résumé for a job at UBS quickly became an Internet meme. The then-Yale student’s video opens with a staged interview between Vayner and an offscreen voice and consists of just one question and a ridiculous response rife with business jargon. Describing himself as “Aleksey Vayner, CEO & Professional Athlete,” the video shows him performing fabulous feats including lifting a 495-pound weight, serving a tennis ball at 140 mph and ballroom dancing. “If you’re going to work, work. If you’re going to train, train. If you’re going to dance, then dance, but do it with passion,” he proclaimed.
Just a sign of the times.
When Joshua Persky was laid off in early 2008, he was expecting a new job at Bear Stearns. Then May happened. Rather than wander aimlessly with thousands of fallen Wall Streeters, he “put on a sign board and went out to Park Avenue to get some leads." Peddling an "Experienced MIT Grad For Hire,” didn’t win him a job but it did launch a media campaign. His good news came after Lehman Brothers collapsed in September, when he got hired by an accounting firm and sold a book proposal on job hunting. These days you can hire him to speak and consult.
FX Hiring Starting to Simmer (eFinancialCareers)
Long regarded as the Wild West of trading, foreign exchange is proving that the world of risk and uncertainty is also one of opportunity for job seekers. The biggest banks and other major firms are duking it out for top talent.
Layoffs (NY Post)
Analyst Meredith Whitney is predicting the demise of Wall Street … again. She told clients in a research note that banks will need to eliminate at least 15% of their workforce over the next 18 months to compensate for dwindling revenues. She’s been saying this for a while now. Like, a lot.
Why Bankers Love Banking (eFinancialCareers)
Say what you want about Wall Street, but it’s still a sector in which smart dedicated people are dying to work. Here are 15 reasons why.
Losing the Battle (Bloomberg)
Bill Gross, manager of Pacific Investment Management, the world’s biggest bond fund, went on the offensive yesterday in an attempt to convince investors to stop pulling assets. “Stick with Pimco, we’re going to win this new war,” he posted on the firm’s website. Confidence or desperation?
Busted (FIN Alternatives)
Former hedge fund administrator Kristin Davis, fresh off a four-month stint in prison for running a prostitution ring, suffered a setback in her run for New York City comptroller. She was arrested for selling prescription pills.
Obama’s Vineyard (Bloomberg)
Chicago investment banker David Schulte is preparing for a fairly important house guest. President Obama and his family will reportedly be spending their vacation at his Martha’s Vineyard estate.
PNC Financial says it’s the target of multiple mortgage-related probes. The Pittsburgh lender joins Bank of America and J.P. Morgan in disclosing new investigations.
Buzz Around the Office
Donkey Duet (BuzzFeed)
If you’re down in the dumps, struggling through the last day of the week, sit back and enjoy 70-seconds of harmony, courtesy of a trumpeter and a tone-deaf donkey.
List of the Day: Interview Mistakes
We recently put together our list of common interview mistakes. Here are three less common ones.
- The candidate sent a potential employer his shoe, hoping to "get a foot in the door."
- The candidate found an interviewer's online shopping wish list and bought items from it.
- The candidate put his resume on a bar of chocolate.
(Source: AOL Jobs)