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How a super-organized Goldman Sachs employee gets where he wants. When J.P. Morgan dumps you

If there's such a thing as a system for categorising and then achieving your aspirations, it may be that Zachary M. Bucheister, has achieved it.

Bucheister's system is detailed on the MBA careers website Poets and Quants as an example of how to get onto your desired MBA course (Bucheister is currently enrolled on the Oxford MBA at Said Business School). However, his system is just as relevant to job applications, career moves, or preparing for CFA exams.

Firstly, he says you need to work out what you want to do. Detail and rank the criteria that are most important to you in a business school (or new job), whether that's location, ranking, or salary. Then prioritize your applications based upon the schools/jobs that fit your needs. Don't waste time with anything that doesn't fit your criteria. Secondly, use a spreadsheet to record all the interactions you have with particular schools (or employers, or recruiters), including where you are in the application process and what you still need to get to them. Thirdly, work out the story you want to tell in your MBA application essays (or through your CV or cover letter) and use this to imagine the conversations you'll be having in interviews. Practice these conversations; rehearse them aloud. Lastly, Bucheister advises focusing on weaknesses and not strengths. This is particularly the case when you're preparing for tests like the GMAT (or CFA). "Focus on studying your weak subjects over-and-over again, as that is where your time will pay the highest dividends (for me, probability! I’ll never know if I’m going to pull a red or a green marble out of the bag…)," he says.

Separately, you do not want to incur the rancor of J.P. Morgan. Like Goldman Sachs, J.P. Morgan caught some of its analysts cheating in the exams it runs for juniors in New York. Seemingly unlike Goldman Sachs, however, J.P. Morgan then cut said employees loose immediately: a J.P. Morgan spokesman told the Telegraph that the culpable juniors were made to pay for their own flights back home.

Basic Test For Bankers (Telegraph) 

Can you pass this basic maths test for investment bankers?

UBS Private Banking Expansion (Bloomberg) 

UBS will be investing $400m in Switzerland. It wants to buy a few Swiss private banks that are under pressure.

E-Trading Problem At Citi (WSJ) 

Chaos at Citi as executives discovered a series of hedge fund trades they estimated could cost the bank as much as $400 million. Electronic systems got tripped up by expecting buy and sell orders to settle together, affectively cancelling each other out.

HSBC Going State-side? (Financial Times)

Maybe HSBC will move its HQ to the US? Maybe not.

Deutsche's E-Trading Head Departing  (Financial News) 

Martin Zinkin, head of electronic markets trading at Deutsche Bank, is leaving.

Bonus Headache At Aberdeen (Financial Times) 

Martin Gilbert is in deep trouble. Aberdeen Asset Management struggling to hold on to key staff as the fall in its assets has a negative effect on employee bonuses. Asian equity market investments are to blame.

How Pimco Pays (Financial Times)

"All of us at Pimco will be paid based on what we deliver for our clients — measured by long-term risk-adjusted performance and client service — regardless of which product or business area we work in.”

Requlation = Dynamism (Financial Times) 

Ben Bernanke wants more regulation:  “I don’t think you could rule out the possibility that a more repressed financial system would give you a better trade-off of safety and dynamism.”

Wellness At Goldman Sachs (Bloomberg) 

Ex-Goldman partners' wellness offices include non-porous counter-tops to discourage bacterial growth.

The Financial Dominatrix (Vice) 

How to dominate men with money.

Quote of The Day: 

"She has diagnosed a few heart attacks and recently dispatched an engineer complaining of chest pains to a hospital, where he immediately received four arterial stents," how stress is hitting the under-40s at Silicon Valley.

Photo Credit: Matt

AUTHORPaul Clarke

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