Seventh edition

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The DefiniTive MBA RecRuiTing guiDe
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the companies

you NEED

to know aBout
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IT'5 YUuR
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we've spent two hundred years ¿ettin¿ ready for you. we've built an investment bank that does
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Project2 10/22/2007 6:22 PM Page 1
the Companies You need to Know about
seventh edition
All rights reserved. No part of this publication may be reproduced,
stored in a retrieval system, or transmitted in any form or by any
means—electronic, mechanical, photocopying, recording or other-
wise—without the written permission of the publisher. The material
in this publication is for informational purposes only and is subject to
change. Please check www.jungleonline.com for updates. Neither the
companies profiled herein nor Jungle Media Group is responsible for
any loss or damages resulting from errors or omissions in this volume.
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Printed in the United States of America
the Companies You need to Know about
about this booK
As you probably already know, the job hunt starts almost
immediately after you arrive at business school. On top of
the classes, cold calls, exams, and papers, you’ll be hit with
employer presentations, brown-bag lunches, and recep-
tions by the dozen. The goal of all these meet-and-greet
info dumps, of course, is to help you zero in on the single
best company and single best position—the best overall
fit—for your top-tier talent and experience. Now, you may
very well know just how you fit into the post-MBA mar-
ketplace, exactly which companies you'll apply to, and
which offer you're going to accept. If so, you can put this
book away. But in case (like most of us) you'd like to know
more about your options, or you're not quite sure what
field to pursue, we give you this tome—the latest edition of
our guide to the recruiting world. On the pages that follow,
you’ll find our acclaimed company profiles—the lowdown
on recruiters who are looking for people just like you. Most
of them are written by the companies themselves. Which
means that the companies are telling you, in their own
words, what you should know about applying, interview-
ing, and getting into their businesses. (Some companies
weren’t able to get us their profiles, but we still give you
the basics in a short write-up.) In addition to the company
profiles, you’ll find our comprehensive collection of indus-
try guides—behind-the-scenes reports on major fields from
consulting to gaming to investment banking. We polled
insiders to bring you the scoop on salaries, cultures, career
paths, and more.
So enjoy this resource, and good luck in your job search.
Also: Be sure to check out Jungle magazine and the Website
(jungleonline.com) throughout the year to stay up to date
on the newest trends and happenings in B-school and
beyond. —The Editors
about JunGLe media GRoup
The world already has too many sawdust-dry business
publications and Web sites. Jungle isn't among them. What
we are is smart, informative, witty, and fun. ( Just ask us.)
Of course, Jungle takes business seriously, as we know our
readers do. (In fact, we’ve been awarded a Distinguished
Achievement Award from the Association of Educational
Publishers and have been nominated for three National
Magazine Awards.) Our Web site and magazine go behind
the scenes, bringing back the insights and hard-won wis-
dom that will give you the competitive edge and help you
master the art of success.
Jungle Media Group is a media property of Universum,
which publishes a portfolio of products, including Jungle
magazine, Jungle Campus, WetFeet Insider Guides, and
Hispanic Professional.
Universum is the Global Employer Branding Leader
As thought leaders, we drive the industry forward, hav-
ing focused exclusively on Employer Branding for 18 years.
We’re a trusted partner to more than 500 clients world-
wide, including a majority of Fortune 100 companies. We
help employers attract, understand, and retain their ideal
employees. Our full-solution media portfolio—encompass-
ing some 40 employer branding publications, ads, top
company videos, and events—guides our audience of highly
educated talent in the search to identify ideal employers.
aCKnowLedGments
Jungle Media Group and Universum would like to thank
our talented reporters, researchers, designers, and produc-
tion team that made this book come to life:
Industry & Company Profiles Emma Johnson
Design Michael Wilson
Editor Denis Wilson
Copy Editor Lindsay Hicks
Project Manager Anne Margrethe Mannerfelt
Distribution Manager Christopher Veneziale
We'd also like to thank the recruiters who took time out of
their busy schedules to give us the inside story on how to
get hired at their companies.
FoRewoRd
the Companies You need to Know about
automotive/tRanspoRtation
American Airlines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Boeing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63
Toyota. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .106
ConsuLtinG
Industry Guide—Consulting 9
Accenture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Bain & Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Booz Allen Hamilton . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63
Boston Consulting Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63
Capgemini . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .66
Deloitte. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .72
Diamond Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .76
McKinsey & Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .95
Universum. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111
eneRGY
Vestas Wind Systems. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112
FinanCiaL seRviCes/banKinG
Industry Guide—Investment Banking 16
Industry Guide—Investment Management 42
Industry Guide—Venture Capital/Private Equity 31
Bank of America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Bear Stearns. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .62
Citi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .67
Credit Suisse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .69
Deutsche Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .72
Ernst & Young . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .76
Fidelity Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .78
Goldman Sachs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .78
HSBC Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .86
JPMorgan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .87
KPMG. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94
Lehman Brothers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94
Merrill Lynch . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .95
Morgan Stanley . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .97
PricewaterhouseCoopers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
UBS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .106
Wachovia Securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112
GoveRnment
Industry Guide—Government 46
Central Intelligence Agency . . . . . . . . . . . . . . . . . . . . . . . . . . . .66
Federal Reserve Bank of New York . . . . . . . . . . . . . . . . . . . . .76
maRKetinG/ConsumeR pRoduCts
Industry Guide—Marketing 19
Industry Guide—Franchising 50
Bayer HealthCare - Consumer Care Division. . . . . . . . . . .62
Campbell Soup Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65
industRY index

industRY index
the Companies You need to Know about
General Mills. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .78
Home Depot . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .85
L’Oréal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94
Nestlé . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .99
Philip Morris. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
Procter & Gamble . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
Reckitt-Benckiser . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103
Unilever. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109
media & enteRtainment
Industry Guide—Media & Entertainment 38
Industry Guide—Gaming 53
Google. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .83
Harrah's. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .84
phaRmaCeutiCaL/bioteChnoLoGY
Industry Guide—Health Care/Biotech 27
AstraZeneca Pharmaceuticals . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Bristol-Myers Squibb . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63
Eli Lilly . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .76
Johnson & Johnson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .86
Medtronic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .95
Pfizer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
ReaL estate
Industry Guide—Real Estate 34
teChnoLoGY/teLeCommuniCations
Industry Guide—High Tech/Telecom 24
Lockheed Martin. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94
Texas Instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104
j g s
INDUSTRY GUIDE
ThE CompaNIES YoU NEED To KNow aboUT
[CoNSULTING]
oVERVIEw
Consultants provide a wide range of services to business-
es. They identify managerial and institutional problems,
perform in-depth quantitative and qualitative analyses,
recommend and develop solutions, and assist in imple-
mentation. Time-constrained senior managers often rely
on consultants to bring unbiased outside perspectives to
problem solving. A consultant’s independence allows for
enhanced access to information from internal sources, as
well as from the competition. Consultants may bring many
resources to the table, including unique industry-specific
knowledge and experience.
Recent economic developments and corporate trends
have increased the number of consulting firms, and the
rapid expansion of the Internet and the emergence of new
technologies has added to the groundswell. Also, many
companies are choosing to outsource activities previously
performed internally. This trend, combined with corpo-
rate downsizing, has caused many former executives and
recent B-school grads to join the ranks of consulting firms.
maJoR pLaYERS
The industry began with the founding of Arthur D. Little
in 1886. Today’s roster of prominent firms includes A.T.
Kearney, Bain & Company, Booz Allen Hamilton, McKinsey
& Company, and The Boston Consulting Group.
Many firms focus primarily on one industry or func-
tion. Some of the most prominent IT firms are IBM
Global Services, Accenture, and Diamond Management &
Technology Consultants, Inc. Likewise, The Advisory Board
Company is prominent in the health care arena, while Mercer
Oliver Wyman specializes in financial services.
TRENDS
Recent years have brought a spate of branding adver-
tisements from several consultancies. As the industry
undergoes consolidation, it is increasingly important for
firms to differentiate their offerings. Protecting brand
reputation took on even more importance in the wake of
corporate scandals such as Enron and the resulting ques-
tions about independence of consulting and auditing
functions within a single company.
GETTING hIRED
Depending on the school, as many as 30 to 40 percent of
MBAs enter this field. Most major consulting firms active-
ly participate in both on and off campus recruiting. Many
also host special presentations on campuses to inform and
educate MBA students about their unique missions and
cultures.
SaLaRY
Just out of business school, you can expect to make any-
where from $85,000 to $150,000. Packages generally include
benefits and bonuses (10 to 50 percent of annual salary),
and some offer additional perks like a company car. Senior
managers make $200,000 to $250,000. Partners can make
anywhere from $400,000 to more than $1 million a year.
hoURS
Consultants’ office hours generally aren’t as grueling as
those of investment bankers. However, many consultants
spend a great deal of time on the road traveling to client
work sites. A heavy travel schedule, combined with the lat-
est in mobile technology (i.e., wireless laptops, BlackBerries,
cell phones) results in most consultants’ logging 60 to 70
hours per week. Crunch periods are more intense, with
project teams working 75 to 80 hours a week. Whether
you’re an associate or a partner, you can expect to work a
lot. The nature of the work will differ, as lowerlevel staff do
more number crunching and analysis, while more senior
staff focus on business development activities and strategic
decision making.
TRaVEL
As mentioned, most consultants travel at least three to
four days a week. The typical schedule is Monday through
Thursday at the client site and Friday in the home office.
Of course, this can vary from project to project. Sometimes
you will be lucky enough to have a client in your home city.
We did talk to a few consultants who only have to travel one
or two days a week or 25 to 30 percent of the time. They
seem to be the lucky few, though. One technology con-
sultant says that she “traveled every week for three years,
leaving home on Monday and returning on Friday.”
oFFICE CULTURE
Collegial, friendly, and close-knit are terms that came up
often in discussions of the atmosphere in this industry.
Team bonding is an important part of most projects. As one
senior manager explains: “You’ll be spending 10 to 12 hours
a day with these people. You want to get along.” There are
many happy hours and team dinners, especially when
working out of town. According to one insider, “project
socializing is frequent and expected.” One summer associ-
ate agrees that “an emphasis is put on social gatherings.”
Client dinners, for example, are staples of a consultant’s
lifestyle. A technology consultant says, “After a short time
INDUSTRY GUIDE
ThE CompaNIES YoU NEED To KNow aboUT 10
it feels like your only friends are from work... .Sometimes
the expectation of a ‘work-family’ is a bit too much.” Many
thrive on the social atmosphere, however, and one associate
even says, “We don’t do as much bonding as we need to.”
Though a couple of conservative companies still cling
to dark suits and ties, most consulting firms these days are
business casual. When on the client site, however, the motto
is “We go by their rules.” Most clients are also business casual,
but you should have a few suits handy just in case.
An important caveat: The consulting culture varies
not only from firm to firm, but also from project to proj-
ect and partner to partner within a firm. A recent MBA
in the industry explains, “Social life depends on the client
situation since much of the socializing takes place on the
client engagements.” She finds it “hard to specify a ‘culture.’
How do you build a culture when your employees are sel-
dom gathered in one place? Employees work at client sites
four to five days per week. How do you imbue them with
certain values and attitudes?” Many consulting firms are
international, so the atmosphere “varies from country to
country, and, within countries, from office to office.”
The atmosphere can be very transient. One manager
with a strategy focus says, “Since most people travel a lot,
there aren’t any permanent desks. We use the ‘hoteling’
concept and make a reservation for a desk when we will
be there. Thus, you have no idea who you will see when
you walk into the office. It’s a very congenial atmosphere
because people have a lot to catch up on when they run into
each other.”
ThE CRowD
The overall consensus from the consulting crew is that
they love the people they work with. “The people I work
with are the best part of my job," one associate says. “They
are an incredibly bright group of people to brainstorm
problems with, as well as a really fun bunch of folks to
hang out with at a baseball game.” Another says “Everyone
is smart; mostly Ivy League, top B-school grads—motivat-
ed and hard-working. I also find most people fun—that’s
the only way we can be together 12 hours a day!—and very
interesting.”
This concept of work-fun balance surfaced again and
again. “People typically have some industry experience, are
highly self-motivated, and hard-working,” one consultant
says. “However, the same people are very easygoing and
we have a lot of fun at team dinners, outings, etc.” Another
says, “My coworkers are analytical and curious, profes-
sional and serious, yet have a fun side.” In some areas, like
strategy, almost everyone has an MBA.
Other sectors are more academically diverse. One
associate at a management consulting firm says his
colleagues come from “extremely diverse backgrounds—
MBA, JD, MD, international degrees, PhDs in everything
from physics to literature.” Another associate, at one of
the industry’s oldest and most elite firms, says, “There is
a fantastic diversity of backgrounds and previous work
experience, which adds to the richness of team dynam-
ics.” She says that in addition to Harvard and Wharton
B-school grads, her colleagues also include a “potpourri”
of PhDs, MDs, and JDs.
Many of the large consulting firms are very internation-
al. One MBA at such a firm says: “My particular practice is
not as diverse as it should be or needs to be. On the other
hand, the firm as a whole is very international. When I
visited corporate headquarters, I was amazed at all of the
different languages being spoken” Others commented on
their mutilingual colleagues and the plethora of people
who have studied or lived abroad.
Smaller or start-up firms are the most diverse in the
industry. A managing director at one such company says:
“It is much less prescriptive than Big Five or other, more
staid consulting firms. We have more creative and techni-
cal folks and fewer MBA types.” One strategist at a small
e-business consulting firm boasts: “We have computer
science grads, philosophy majors, cognitive-skills sets,
business backgrounds, and lots of masters degrees in arts
and sciences. This is the most creative, diverse group of
people I have worked with in my life.”
There are definitely more women in this industry than
in banking or finance. One senior consultant attests that
his big firm is “extremely balanced in terms of gender. Less
so in terms of race; however, recent hiring patterns demon-
strate strong efforts to produce a more diverse workplace.”
GETTING IN
Consulting firms recruit quite heavily on B-school campus-
es. We spoke with many insiders who took this traditional
route to get into the industry. Others networked their way
to the position they wanted (particularly those interested
in e-business or Internet-related jobs). All offered myriad
tips on the best way to get your foot in the door:
Getting Started
• Don’t cast your net too wide. There are different kinds of
consulting. Know which one you are interested in.
• Learn as much as you can about the companies you would
like to work for.
• Be familiar with the industry—talk to friends, set up
informational interviews with recent grads, use your
alumni base.
• Read Consultants News, Consulting Magazine, Business
Week, The Wall Street Journal, Fortune, etc.
ThE CompaNIES YoU NEED To KNow aboUT
CoNSULTING
11
• Hands-on experience is the best way to get an idea of what
a particular firm is all about. Summer internships are com-
petitive but can be invaluable opportunities.
Resumé Tips
• Highlight leadership experiences (president of consulting
club in B-school, etc.).
• Explain what you did to make an impact on a specific
project, either in words or in dollars. Demonstrate that you
identified a problem, analyzed the problem, found solu-
tions, and implemented the solution successfully. Provide
an example of the results.
• Highlight any global experience.
• Demonstrate technical knowledge and experience.
• Include extracurricular activities. Employers like to see
that you have a life outside the job. Charity and community
work are a plus.
• Stress communication and interpersonal skills as well as
analytical and research skills.
• Don’t inflate something into more than it is. Says one
veteran: “It will come out during the interview, and mis-
representation will surely kill you.”
• Show that you can adapt quickly to new situations and are
not afraid of travel and change.
• Key words: analyzed, managed, led, formulated, assessed.
Networking Tips
• Attend industry events in your area. Get to know a few
people at each one.
• If any of your friends are in companies that are hiring,
find out what their hiring process is. Many companies like
to hire people who are friends or acquaintances of the peo-
ple they have already invested in.
• Attend company events and get to know people you can
refer to in your cover letter. This also lays the groundwork
for the interview process, and you have a better chance of
getting in if you have an advocate(s).
• Always be ready. One MBA at a management consulting
firm landed his job after sitting next to one of the partners
on an airplane. He is now a partner himself.
• Have a sense of humor. A potential employer will be more
likely to say, “I could stay up until 5 a.m. with this person.”
• Don’t rely on a cover letter. Build relationships.
• If you say you’re going to call, call. Otherwise, you stand a
larger chance of leaving the impression that you don’t fol-
low through than you do of “bothering” the person.
• But at the same time, don’t hound the people you know
at each firm. Have quick, meaningful conversations with
them at cocktail parties or on the phone and then leave
them alone. You will make a better impression this way.
Interviewing Tips
• Express enthusiasm for the work.
• Make sure you are very comfortable with the case inter-
view—practice, practice, practice.
• Don’t underestimate the “soft skills” (basic etiquette and
social skills). Some applicants are already “dead” by the
time they get to the case part.
• Act “fun.” Everyone wants to have fun, hard-working
people on his or her team.
• Before you go in, read the Wall Street Journal archives
and the firm’s Web site for recent news, alliances, mergers,
divestitures, etc.
• “Firm knowledge is overrated. You need to know the
basics, but an exhaustive knowledge of the firm alone won’t
get you the job. You have to have the skill and analytic fun-
damentals the firm is looking for. “Demonstrate leadership
abilities and experience.”
If I could do it again, I would:
• “Research more of the history of the firm and the direc-
tion it wants to take in the future.”
• “Focus more on learning about the firm’s values and
approach, and match those to my own values and skills.”
• “Practice more case interviews” (a very common senti-
ment).
• “Establish a greater understanding of the different
types of consulting.”
• “Research which areas within the firm offer the best
chances for advancement.”
• “Tailor my responses much more to the culture of
the organization.”
• “Go to firm-hosted behavioral-interviewing technique
workshops.”
Before I entered the consulting industry, I wish I had
known that:
• “You won’t be passionate about every project yet you must
become at least somewhat interested in it if you are going
to survive working the long hours on it.”
• “You don’t always have a say about which project you are
assigned. You need to lobby and network to get on projects
that are right for you.”
• “Some projects go on for months and months. You want
to get on projects that have short time-frames in case you
hate them.”
• “Not all projects are glamorous. The majority are not.”
• “I would spend a significant amount of time working on
client documents.”
• “Clients aren’t always easy to work with or grateful for the
assistance.”
INDUSTRY GUIDE
ThE CompaNIES YoU NEED To KNow aboUT 12
• “The travel demands would impact my life.”
• “Traveling all the time and living in a hotel is not at
all glamorous.”
• “That you rarely get to travel to ideal locations, and even
when you land an assignment in a really great town, you
will likely work so much that you won’t see much of it.”
• “The skill set required changes as you move from senior
consultant to manager to partner.”
• “Networking is paramount in this industry.”
How to make the final decision:
Your final choice should be determined not only by the
growth opportunities and the money a firm offers, but also
by its culture and the people that you will be working with.
Insiders can’t stress enough that the culture of a firm makes
a big difference. As we said, culture can vary significantly
across firms in this industry. Make sure you visit offices to
try to get your finger on the pulse of the place before you
make any decisions.
moVING Up
Many describe the consulting culture as “up-or-out” with
“tremendous upward mobility.” An associate at a mid-
size consulting firm reveals that “people move up in title,
responsibility, and compensation very rapidly. We have
some people whose compensation has nearly doubled
over a two-year period.” The standard time to remain in a
position seems to be about two to three years. At most tra-
ditional firms, it usually takes about five to nine years to
make partner, if elected. Of course, although these ranges
are typical, they are not set in stone. Promotion typically
happens when the individual is ready--i.e., has acquired the
requisite skills. “Although there are more or less set time
patterns for progression, you do advance according to your
ability,” one insider says.
However, many people aren’t sticking around for pro-
motions. “More and more senior people are coming from
outside the industry because junior people find it hard to
work their way up due to the demanding lifestyle.” By some
rough estimates, almost half burn out after the first two or
three years and move on. One MBA stayed in his position
at one of the industry’s elite firms for only nine months
before he left to join a small healthcare strategy firm. He
estimates that only about one out of every 40 associates at
his old firm stays and makes it to VP. Other insiders, how-
ever, argue that this extremely low number is atypical.
Small companies are much less hierarchical. Career paths
aren’t as clearly defined. Says one member of a 100-person e-
business consulting firm, “As opposed to the big consulting
firms where you are always looking to the next level to make
an impact, regardless of my title, I am making that impact.”
whaT IT TaKES
Communication and interpersonal skills are integral to suc-
cess in this business. The team-client relationship is very
important. You must be able to communicate complex con-
cepts effectively one-on-one, in front of larger audiences,
and in written documents. Consulting is based on selling
ideas and concepts, so you must be persuasive and aggres-
sive when necessary. You will work closely with your team,
so you need to be able to get along with a variety of people.
On a personal level, some say that to succeed in this busi-
ness you must be very driven, and either unmarried or with
an exceedingly understanding and supportive spouse.
Successful consultants are analytical and possess strong
deductive and inductiv reasoning skills. They are also con-
fident with numbers, can think logically and challenge
assumptions, and have a basic thirst for problem solving.
There will definitely be crunch periods in most projects.
Good consultants remain calm and focused under tight
deadlines and manage their time wisely. Stamina is also an
important quality. As one industry insider bluntly puts it,
“You need to be able to stay up late without getting cranky.”
Flexibility in this business is key. You must be willing to
rearrange your schedule at any time and have the adapt-
ability to work under any circumstances; in the office, at
a client site, over a conference call. This can be a nomadic
business. You need to function well in an unstructured
environment. You won’t always have an office, a desk, or
sometimes even a phone. Also, your work may move in
cycles: You can be very busy for a couple of months and
then slow down considerably for a while.
The learning curve is steep. You need to be able to get up
to speed very quickly. An appetite for constant challenge
helps. Know how to focus on core issues while removing dis-
tractions. You should also be deliverable-oriented: Approach
projects with the end in mind, not as an academic exercise.
TYpICaL DaY
Most consultants are hard-pressed to define a “typical day.”
The most common response is “There isn’t one.” Many
consultants hardly know when and where they’ll be travel-
ing, and schedules vary from project to project. That said,
here’s what we managed to draw out of a few of them.
A manager at one of the largest firms:
“In a typical week, you fly to the client site early Monday
morning. You will have a desk or a work space (maybe in
a conference room) where you work on your computer on
the part of the project you’ve been assigned to. You will have
multiple meetings during the day with the client and/or
with your team. Depending on the time-frame of the project
(really short time-frames can mean really long hours), you
ThE CompaNIES YoU NEED To KNow aboUT
CoNSULTING
13
will either work until 6 to 7 p.m. or midnight. Your dinner
may be ordered in, or you may feast on vending machine
food. Personally, I am a huge fan of the order in or the ‘Let’s
take a break for an hour and go grab some food’ options.”
A second-year associate at a large firm:
“I get into the office around 8:30 a.m. and generally leave by
9 p.m. I am rarely in the office on the weekends, but spend
part of every Sunday reviewing materials at home. I divide
my time between interviewing and otherwise tracking
down information, problem-solving and synthesizing find-
ings with my team, and document preparation. My time
is evenly split between my home city (New York) and two
other cities (in my case, London and L.A.), with one week
on, one week off. I don’t mind the travel because I am home
most weekends and I like the cities, stay in top hotels, and
eat well. Since I am involved in recruiting, I have lunch
with prospective candidates once every week or two. I enjoy
meeting new people, and we go to great restaurants. At least
once every month or so, my whole team does a fancy dinner
or goes to a ball game or another fun event.”
A partner at an e-business management consulting
firm who’s been in the business for seven years:
“You fly to the client site in the morning and meet with the
client team to review progress and deliverables. You attend
meetings with client senior execs. You make phone calls
or visits to prospective clients for sales calls. You develop
proposal letters. Most days end with answering e-mails and
voicemails [from client team members or internal initia-
tive leaders] in your hotel room.”
A tech consultant who’s been in the business for four
years:
“I arrive at the office by 7:30 (a.m.) for some quiet work time.
I spend 20 minutes checking e-mail and deflecting enough
issues to have a free hour from 8 to 9 during which I try to
make progress on actual deliverables (preparing a presen-
tation, reviewing work of one of my direct reports). By 9:30,
I meet with my team members to ensure that everyone
has a manageable amount of work and isn’t facing any big
issues. I generally spend from 10 to 4 in meetings or chas-
ing down issues related to the project. After 4, I check on
my team again and then reply to all of my e-mails. Around
6, I do some more solo work, prepare for the next day and
then get dinner (usually with someone from the project),
and go home.”
A first-year manager at a large management consulting firm:
“I either wake up in the hotel or really early to get to the
airport. We all get to the client site around 8 a.m. The day
is usually filled with team meetings, some meetings with
clients, and often a meeting with the senior manager or
partner we are working with so we can bring them up to
speed. There is some individual work at the client site, but
most of the solo work usually takes place back at the hotel.
We sometimes dine as a team, and evenings are for catch-
ing up on e-mail and phone calls.”
A first-year associate at one of the industry elite:
7:30 >Team huddle, plan for day
8:00 > Start analysis, conduct interviews, gather facts,
start presentation production
1:00 > Team lunch
1:30 > Visit client site for update meeting
4:00 > Back in office, continue analysis
7:00 > Dinner with/without team
9:00 > Continue working back in hotel/team event once a week
11:30 > Respond to e-mail and voicemail from hotel
A senior consultant in the manufacturing sector:
6:30 > Wake up and check e-mail
7:30 > Meet with team for morning breakfast meeting
(every other day)
8:15 > Arrive at client site and have second meeting for
daily planning
8:15-5:00 > Conduct interviews, run spreadsheets, develop
PowerPoint presentations, schedule interviews, meet with
other team members to discuss project issues, conduct research
12:00 > Lunch—could be a hot dog at your desk, meeting
with the team, or dining with a client
4-5:00 > Client leaves: We may touch base with them before
their departure, however, so this usually means a quick
meeting of some of the team members with client members
6:00 > Conduct a status check and decide where we’ll eat dinner
Note: These are descriptions of typical days on a project. While
not on a project, training and research are typically conducted
in the home city, providing a great deal more flexibility.
bUZZwoRDS
Deliverable
Deck
Business model
Leverage
Segmentation
Disaggregation
Value proposition
Value chain
Integration
Billability
Disintermediation
INDUSTRY GUIDE
Bandwidth
Knowledge capital
Horizontal and vertical industry structures
Organization building
“On the beach”
mISCoNCEpTIoNS
Myth: Consultants work all day and all night.
Reality: A consultant’s hours tend to ebb and flow depend-
ing on the project and client.
Myth: This is a glamorous industry.
Reality: “Hotels and airline delays are not glamorous. Your
clothes are always wrinkled, and you will do day trips to
New York City two days in a row just so you can sleep in
your own bed at night.”
Myth: You have to travel to succeed.
Reality: There are actually some firms that are finding
alternatives to this “rite of passage” in the consulting world.
Myth: The travel is hellish.
Reality: “My firm is really flexible. I can go from an out-
of-town project to an in-town project if I want to. We are
accepting of others’ schedules. Everyone needs flexibility
to go to the dentist, etc.”
Myth: “We are a bunch of arrogant, know-it-all business
school bozos.”
Reality: “Well...”
Myth: Once you get into a prestigious firm, you’re home-
free.
Reality: You must prove yourself during each project, and
the expectations grow over time.
Myth: Consultants travel to exotic locations.
Reality: Your location is dictated by your industry-client
combination and it’s frequently not exotic. Even if it is,
you’ll have little opportunity to play tourist.
Myth: Consultants fly in, tell top management what to do,
and fly home.
Reality: “In general, top management will be a pretty bright
group of people. To tell them something of value requires a
great deal of work. At the entry level, it’s unlikely an indi-
vidual will directly advise top management. Undergrads and
entry-level MBAs do mostly analysis and research. It’s a cou-
ple of years before you are interacting with key executives.”
Myth: Junior people play a large role in crafting strategy.
Reality: Senior staff does most of the strategizing
while junior consultants generally (there are exceptions)
do the supporting analytics: number crunching, research,
PowerPoint, etc.
pRoS & CoNS
Pros
• Fun, energetic company culture
• Great training
• Extensive professional networking. “You work with high-
level clients in some of the top businesses in the world.”
• Challenge
• Travel
• Exciting topics
• Intelligent, high-energy colleagues
• Competitive salary
• Fast pace, always learning something new
• Opportunity to create a significant impact
• Intellectually stimulating: “My mind is running a con-
stant marathon and I love it!”
• Excitement of a new job every time a new project starts •
Transferability of general skills acquired (communication,
project management, analysis)
Cons
• Long hours
• Rigid up-or-out system
• “You aren’t really a master of one topic. The client usually
knows more than you about their industry.”
• Travel, travel, travel
• Possibility of being assigned to a project that doesn’t inter-
est you
• “Your workload and happiness are to a large extent depen-
dent on your project manager.”
• Difficult to balance life and career. One respondent went
so far as to say, “I might never have a successful relationship
as a result of this job and this travel.”
• High level of social integration required for success at
many firms
GREaT pERKS
• Four weeks’ vacation
• Full family medical, dental, and vision coverage
• Season tickets to athletic events (usually for entertaining
clients)
• Business-class travel
• Fancy company dinners
• Cell phones and BlackBerries (or a combination)
• Big events and parties
• Frequent-flier miles. A consultant can often redeem
enough miles for a vacation for the whole family from all
ThE CompaNIES YoU NEED To KNow aboUT 14
ThE CompaNIES YoU NEED To KNow aboUT 15
the travel over the course of a year.
• Travel. Even though it is usually hard, many consultants
do have the opportunity to visit fascinating locales around
the world.
• Nice hotels
• Opportunity to stay in the client location (For example, if
you have a project in San Francisco or Puerto Rico, you can
stay there for the weekend), or fly somewhere other than
your home city it to partner, you can expect to rake in sev-
eral million each.
CoNSULTING
INDUSTRY GUIDE
ThE CompaNIES YoU NEED To KNow aboUT 16
[INVESTmENT baNKING]
oVERVIEw
It’s a job that involves power, status, and enough money to keep
the closet stocked with Zegna suits and Ferragamo ties. Even
though it’s notorious for endless hours in the office, I-banking
is one of the most fast-paced and lucrative industries around.
Investment banking is, in fact, neither investing nor
banking. Broadly, investment bankers work to raise capital
and provide investment advice for the bank’s clients.
The industry breaks down into three main categories:
Corporate finance (CorpFin to those in the know), the
process of raising money for corporate clients, lies at the
core of the traditional investment bank.
Sales and trading is the sector of investment banking
usually portrayed by Hollywood. Salespeople and traders
buy and sell securities and commodities. It’s a high-pres-
sure, market-driven culture.
Research analysts generally focus on either fixed income
or equity. They work to predict the movement of specific
stocks, and their advice is extremely powerful in the industry.
maJoR pLaYERS
The “bulge bracket” consists of the largest of the full-ser-
vice investment banks. Top-tier names include Merrill
Lynch, Morgan Stanley, Goldman Sachs, Citigroup,
Lehman Brothers, Credit Suisse, Deutsche Bank, UBS, and
JPMorgan Chase.
LaTEST woRD oN ThE STREET
In recent years, a wave of monster M&A deals has sent
profits soaring for several Wall Street establishments.
Goldman Sachs’ 2007 third-quarter profits were way ahead
of analysts’ predictions with the firm’s investment segment
producing record quarterly revenue of $2.15 billion. On the
other hand, Merrill Lynch took nearly $5 billion in write-
downs for the same quarter related to credit woes that hit
much of Wall Street and contributed to the I-bank declaring
a quarterly loss. Things are still sweet on Wall Street, but
larger economic forces have given the investment banking
sector a tinge of volatility not seen in recent years.
SaLaRY
Most investment bankers aren’t in the business for spiritual
fulfillment, and they don’t pretend to be. One of our insider
contacts believes that “outside of high-flying tech compa-
nies and VC firms, investment banks are the best place to
make a lot of money in a short amount of time.”
Packages for associates in the corporate finance area
just out of B-school hover around $150,000. Vice presidents
generally pull in about a half-million yearly. And if you
makeyear at the top firms.
Sales and trading salaries start at about $75,000 for
recent MBAs. Signing bonuses are usually about $20,000,
and year–end bonuses can be almost as much as your base
salary.
Research analysts often earn more than those in other
positions at investment banks. Their bonuses depend on
the accuracy of their forecasts. Top analysts often win tele-
vision, radio, and/or Internet gigs where they can make
even more.
hoURS
You make a ton of money in this business, but you’ll be hard-
pressed to find time to spend it. Most corporate finance
MBAs we spoke with said they averaged 80 to 100 hours a
week during their first years as investment bankers. Your
first three years as an associate or a research analyst will be
dedicated to your work. Most insiders agree that you should
be willing to put everything else in your life on hold.
The hours in sales and trading are more reasonable,
though. Based on our survey, the sales and trading work-
week averages about 55 hours.
TRaVEL
Most I-banking jobs aren’t travel-intensive. We spoke with
one lucky associate who says he travels “only for golf tour-
naments and conferences.” Others are on the road one to
three times a month, but are never staffed out of town like
consultants. However, there are always exceptions: One
high-yield salesperson claims to be “on the road all the
time.”
oFFICE CULTURE
The I-banking community is described by most insid-
ers as “close-knit,” most likely because employees eat,
breathe, and sometimes sleep in the office. One associate
attributes the bonding to the office space. “We have very
small desk spaces and they are packed close together.”
I-bankers do leave the office from time to time, though.
There are happy hours and client dinners (one insider
characterizes his colleagues as “excessive in food and
drink”), excursions to sporting events, sailing trips, and
more. Tip: Investing in golf clubs and lessons is probably
a good idea.
Many firms on the Street are loosening up and have
recently changed their dress code to business casual.
Investment banking is still a conservative industry, though,
and you should definitely have a few suits in your closet.
ThE CompaNIES YoU NEED To KNow aboUT
INVESTmENT baNKING
17
ThE CRowD
This industry is definitely not the most diverse. The atmo-
sphere is “testosterone-charged,” says one associate.
Another admits that it is “mostly white male-dominat-
ed,” but adds that it is “getting better on this front.” We spoke
with a female analyst who agrees: “Mostly male, mostly
white—although there is a growing number of Asians—and
mostly from top-tier academic programs.” As a woman, she
is definitely in the minority. “Wall Street has tried to make
a strong effort to improve the number of women at firms,
but the numbers are still pretty low.” This isn’t surprising,
since only about 30 percent of MBAs are female. As one
associate points out, “Most of my female classmates in B-
school did not focus on investment banking.”
GETTING IN
On-campus recruiting is the most common route to land-
ing a job in this industry. Almost everyone we spoke with
got his or (her) first post-MBA jobs this way. However, if
you have a nontraditional background, it can be tough to
get an investment bank position. Your best bet is probably
in the sales and trading field.
The hiring process is exhausting, sometimes including
as many as six rounds of interviews. This business requires
endurance, and so does its rigorous selection process. The
interviews themselves can also be trying. A Wharton
MBA and former associate at one of the most prestigious
Wall Street banks tells a tale of one interviewer who pres-
sured him to reveal his grades even after he explained that
it was against his school’s honor code. Many who have been
through the process recommend scheduling interviews at
firms in which you are less interested first so you can get
warmed up before you go for the gold.
Veterans recommend doing your research before every
interview. One even advised second-years to treat the pro-
cess as they would a class, and “study hard.” Read recent
articles and understand current conditions. Make sure the
interviewer understands that you know a lot about the
company and are ready to make a commitment. You should
also be prepared for straightforward questions like “Why
do you want to be an investment banker?” “What interests
you about finance?” and “Why do you want to work for
this bank in particular?” One interviewer sniffs, “These
are easy questions, but I’m always amazed at the number
of dopes out there who have no good answers.” Through
it all, remember that these people are looking for someone
with whom they will want to spend 100 hours a week. Let
them know that you are aggressive and dedicated but still
fun to be around.
Several respondents emphasized the importance of
understanding accounting. “If I had to suggest one course
[for investment banking hopefuls], it would be accounting,
hands down.” That advice is seconded by another respon-
dent, who reported that during one interview, “I had to
verbally construct a cash-flow statement.” Case studies are
also popular with I-banking interviewers as a tool to evalu-
ate a candidate’s quantitative and analytical skills.
B-school offers many resources that can help you prepare
for interviews in this industry. Most schools have workshops
that discuss relevant industry topics, hot products, and the
like. You are also well advised to attend interview workshops
to hone your skills. For a first-year student deciding what
path to take and looking for a summer position, second-years
can offer a wealth of knowledge and advice.
Remember that thousands of MBAs are applying for
only a few hundred jobs. You must follow up and be per-
sistent. An associate director at one of the largest banks in
the world says that “aggressiveness distinguishes the men
from the boys. People who follow up, make phone calls, and
demonstrate that they really want a job at this firm do the
best. If you just go through the motions, you’re not going to
get an offer.”
moVING Up
There is a lot of mobility in the business—if you bring in
money. “The more you make, the faster you move.” In fact,
one of the hallmarks of this industry is that you can move
up quickly. “People have the opportunity to take on more
responsibility early and grow with that responsibility.”
You are typically an associate for four years and a vice
president for four years before moving up to the rank of
senior vice president or managing director. There are few
changes in responsibility with title changes, until you’re at
the vice president/managing director level.
whaT IT TaKES
Investment bankers must possess superior quantitative
and analytic skills. A well-rounded academic background
in finance, economics, and accounting, is of course, a plus.
I-bankers work under extremely stressful conditions,
and it’s essential to think quickly and effectively under
pressure. The ability to learn quickly, and to absorb and
synthesize information on the spot, is crucial, as is a pas-
sion for the markets. This is a lucrative industry, but those
who thrive in the high-stress environment are those who
really love the work.
Most of the insiders we spoke with highlight ambition
and an aggressive personality as keys to success in this
business. One even went so far as to say that people who
do well in this industry are “playground bullies.” You do
have to get along well with clients and colleagues, though.
Strong communication skills are a must.
INDUSTRY GUIDE
TYpICaL DaY
Investment banking associate: “Arrive at the office at 9 a.m.
There is no typical day. I split my time between financial
modeling, presentations, client presentations, and client
meetings. Most work is very group-oriented. The day ends
around 10 or 11 p.m.”
Sales & trading associate: “Arrive at the office around
7 a.m. Read messages and trader comments until 8. Start
calling clients for scheduled daily calls between 8 and 10.
Early afternoon is usually devoted to conference calls. The
rest of the day is market-dependent.”
bUZZwoRDS
Teamwork
Leverage
Buy rating
Undervalued
IPO
Secondary offering
Long/short
Volatility duration
Purchase/pooling
Yield curve
pRoS & CoNS
Pros
• Potential to make a lot of money
• Fast pace
• Smart people
• Opportunity to learn a lot quickly
• Client interaction
• Never feel like a cog
• Projects aren’t overstaffed, so everyone has the opportu-
nity to make an impact
• Always something different
• Exciting to get close to transactions and companies and to
read in the paper about a deal you worked on
Cons
• Pressure and tension
• Tremendous stress
• Long hours. One diplomatic insider says, “It would be bet-
ter if it were nine-to-five.”
• Bureaucracy of a big bank
• Big egos
mISCoNCEpTIoNS
Myth: “Stress doesn’t affect your life.”
Reality: Your job, with all of its stresses as well as rewards, will
be your life during your first couple of years in this industry
as a banker or trader. Salespeople have it a bit easier.
Myth: This is a glamorous industry from day one.
Reality: You will have to pay your dues in the beginning.;
You’re not in the middle of the big mergers right away. Even
as a veteran, you won’t always be closing deals appearing on
the front page of the Journal. There is grunt work that goes
into making things happen. It’s all worth it, though, when
you play an integral role in an exciting transaction.
Myth: This is “easy money.”
Reality: You will put your blood, sweat, and tears into your
job in investment banking. Every penny is hard-earned.
GREaT pERKS
• Tickets to sporting events
• Lots of free drinks and dinners
• Late-night car service

ThE CompaNIES YoU NEED To KNow aboUT 18
1
maRKETING
[maRKETING]
oVERVIEw
MBAs may associate marketing with the ubiquitous four
Ps and three Cs: product, place, promotion, price, compe-
tition, company, and customer. The American Marketing
Association defines marketing as “the process of planning
and executing the conception, pricing, promotion, and dis-
tribution of ideas, goods, and services to create exchanges
that satisfy individuals’ and organizations’ objectives.”
Mnemonic devices and official definitions aside, marketing
links a company to its customers by aligning the company’s
resources to meet the customer’s (or market’s) needs. This
process includes many phases, and as a marketer you can
be anything from a salesperson to a strategy-shaper to a
number-cruncher.
Brand building and branding strategies stand at the core
of marketing. Although Procter & Gamble was one of the
first companies to use “brand management” with Lava
soap in the 1920s, the phrase “brand equity” was not coined
until the mid-’80s. Once analysts could begin to quantify
the value of brands, the concept of “branding” was born. In
the past few years, this concept has become an integral part
of every company—from start-ups to consumer products
behemoths—as strong brands and marketing programs
drive shareholder value. Branding provides a necessary
shortcut, a quick summation of what a company is all
about.
Marketing-related jobs account for about 30 percent of
the jobs in most industrialized nations. They are becom-
ing increasingly important in today’s world of constantly
evolving technologies, industry consolidations, and rapid
economic growth. Consumers today are bombarded with
more information than they can process. Marketers fulfill
many functions to ensure that the right people get the right
information. These include:
Advertising: Determining a promotional message and
a channel to reach target customers.
Brand management: Managing all aspects of market-
ing for a product, typically consumer-packaged goods.
Competitive analysis: Benchmarking the price,
positioning, market share, or other metric against your
competition.
Consumer research: Determining the characteristics,
trends, and needs of a given market.
Customer relations: Developing and managing a rela-
tionship with customers by ensuring that their needs are
met.
Product management: Managing all aspects of mar-
keting and development for a product category, typically
high-tech consumer products, content, or software.
Public relations and communications: Determining
overall brand positioning and managing communication
channels to generate publicity and influence public per-
ceptions.
Sales: Generating transactions
These marketing functions encompass a wide variety of
goals. They can include:.
Market segmentation: Determining the target market
for your products and services.
Share of market: Increasing the number of customers
for your products and services.
Branding: Enhancing the way customers perceive your
product brand or increasing awareness of and exposure to
your brand.
Price strategy: Determining the price or discounts for
your goods and services.
Channels of distribution: Determining how to bring
your goods and services to the market.
Product or services mix: Determining the mix of your
product and service offerings.
Product development: Designing and building the
characteristics of your product or service.
Positioning: Using advertising and communications to
determine how a product or service is perceived by target
customers.
Product launch: Introducing a new product or service
to market.
Promotions: Using communications to increase inter-
est in a product, service, or event.
Customer acquisition and retention: Performing activ-
ities that increase and maintain the number of customers.
maJoR pLaYERS
Marketing’s function differs from company to company. In the
consumer products industry, it plays a lead role, while in other
sectors it may play a more supporting role. Arenas include:
Consumer products: Consumer packaged goods such
as soap or cereal (Unilever, SC Johnson, Kraft)
Financial services: Credit cards, brokerage accounts,
mortgages, and banking services (American Express,
Citibank, Merrill Lynch)
Professional services: Consulting, legal, accounting,
and investment banking (Deloitte, CSFB, Korn/Ferry)
Business-to-business: Raw materials, parts, durable
goods (Boeing, United Technologies)
Pharmaceuticals: Prescription drugs (Pf izer,
GlaxoSmithKline, Bristol-Myers Squibb)
ThE CompaNIES YoU NEED To KNow aboUT
INDUSTRY GUIDE
Entertainment and media: Films, television, and
Internet (Disney, TimeWarner, Viacom)
Services marketing: Hotels and restaurants (Marriott,
Starwood)
Sports: Professional sports events (NFL, WNBA,
Summer Olympics)
TRENDS
Message saturation has become a serious issue lately, as
consumers are increasingly overwhelmed by the sheer
quantity of media available to promote marketing com-
munications. Many companies are adopting innovative
approaches, such as permission marketing, to ensure that
their message rises above the noise of the marketplace to
reach their target audience.
Loyalty marketing is on the rise as companies try to
reward their customers for using or buying their goods and
services in order to increase the customer’s switching costs.
The pioneering credit card that offered frequent-flier
miles for dollars spent introduced us all to the concept of
co-branding. Companies combine their brand assets to
market goods and services jointly.
Companies are increasingly using their relationships
with customers through one product to cross-sell other
products and services. This relationship marketing focuses
on building stronger ties with customers.
Product placement in film and television—Mattel toys
on The Apprentice, for instance—is also important, as
many consumers are skipping commercials and recording
programs to view later.
In the consumer packaged goods sector, the “WalMart
effect,” in which giant retailers place heavy demands on
suppliers, is having a sizeable impact on the way CPG
companies operate. It’s also fueling the continuation of a
longstanding trend of consolidation. Most recently, Procter
& Gamble swallowed up Gillette, gaining new leverage in
negotiating with these retail behemoths.
GETTING hIRED
Before you begin your job hunt in the industry, be aware
that the marketing business has many facets—from mar-
ket research to product development to branding—and
includes various industries and products. Decide which
one most appeals to you and focus your search there.
SaLaRY
Most new MBAs entering brand management will start as
Assistant Brand Managers with a starting salary around
$80,000. A signing bonus of a few thousand dollars more is
customary of big firms. Associate brand/marketing man-
agers (one to two years out of business school) can expect
$90,000 to $100,000 a year. Outside of brand management
the salary range differs according to the type of position
and size of the employer.
hoURS
As a brand manager or marketing associate, you won’t be
working investment banking hours, but don’t expect a
stroll down Easy Street. Although official business hours
may be 9 to 5, if you take those bookends literally, you’ll
earn disapproving glances from management and a fast
track to career stagnation. “Our employees are the kinds
of people who are inspired to give more and work a little
longer,” a Coca-Cola recruiter says. “That’s just part of our
culture.” The cyclical requirements of the fiscal calendar
will also have an impact on your hours; when budget time
rolls around, expect to clock in some long workdays. One
veteran sums it up: “You need to be willing to put in long
hours when necessary, but generally the business is known
to offer reasonable work-life balance.”
TRaVEL
While some of your B-school classmates may not see the
inside of their own homes from one month to the next, as a
general rule, travel is relatively infrequent in this business.
Sales meetings, conferences, and research in the field may
help you rack up a few frequent flier miles, but you typi-
cally won’t be hopping on a plane at a moment’s notice. One
important exception is the international brand manager.
This position requires frequent overseas travel.
oFFICE CULTURE
Words like collegial, fun, and informal were all used to
describe the atmosphere in this industry. The dress code is
typically business casual, although some image-conscious
employers, like cosmetics companies, may expect men to
wear a suit and tie. Obviously, dress to match the situation:
When you’re meeting an important client, dress up. But
you knew that already.
Of course, the culture varies from company to company.
One associate marketing manager describes her office as
“moderately hierarchical and old-world corporate: Junior
people are clustered in cubicles à la Dilbert, while brand man-
agers and above enjoy offices with windows and great views.”
Another, however, characterizes her work environment as
“open and informal. There is very little memo-writing and
a lot of one-on-one/small-group verbal communication.
Everyone has an open-door policy.” Spend time in a potential
new office to get a true feel for its atmosphere.
Socially, the teamwork involved in this industry encour-
ages frequent interaction among colleagues. In the words
of an associate marketing manager in consumer pharma-
ThE CompaNIES YoU NEED To KNow aboUT 20
21
ceuticals, “We are very close, and team activities are often
scheduled to maintain excitement and keep attitudes
upbeat.” An associate brand manager in the consumer pack-
aged goods area says, “The community is pretty close-knit,
especially among people in the same start group or in start
groups one to two years apart. There aren’t too many formal,
organized happy hours, but I socialize with my co-workers
quite often. There are division-wide as well as brand-team
activities organized about two, three times a year.”
Such company-sanctioned socializing is common. One
associate marketing manager at a large consumer products
corporation says, “The company encourages teams to dine
and engage in other off-site activities frequently for team-
building and morale-boosting. They give us a generous
budget.” Client entertaining, on the other hand, is generally
infrequent in this business. You won’t find the same wining
and dining that you might in investment banking or consulting.
ThE CRowD
MBAs in the marketing biz come from all walks of life—
“engineers to advertising execs to environmentalists to
salespeople.” One senior analyst at a large high-tech cor-
poration attests that “just about any background can be
leveraged in some way. You don’t have to be an expert in the
marketplace, but you have to be able to learn quickly, turn
information around, and be decisive.”
It is common for marketing executives to have expe-
rience in other industries. One insider explains: “Many
MBAs in marketing are former consultants or investment
bankers who burned out of that lifestyle and are looking
for a more manageable professional life. Everyone seems to
have outside interests—many of my colleagues take classes
in the evenings or on weekends, are interested in athletics,
and travel for pleasure.”
The male-female ratio in this industry is much more
balanced than it is in many others (like investment bank-
ing). Women make up a large chunk of marketing majors
at most B-schools. CPG is an industry sector that makes a
good target for women and minority MBAs. “There isn’t
really the old boys’ network that you find in other indus-
tries,” a Cornell MBA, currently at CVS, says. “You’ll find
a lot of women in executive roles.” One CPG company we
spoke to requires a “diversity candidate” on every interview
slate; a recruiter from another says, “It’s in our best interest
to pursue a diverse group of prospects—by 2015, half of all
U.S. college graduates will be people of color.”
GETTING IN
Most people we spoke to in the marketing industry were
recruited on campus. Those who have changed jobs since
B-school networked with peers from their MBA programs.
They recommend identifying a contact and scheduling an
informational interview with him or her. Use that connec-
tion to forward your resumé to the appropriate party rather
than sending a blind resumé to human resources.
IF I CoULD Do IT aGaIN I woULD:
• Talk to as many contacts in the industry as possible to get
smart about what types of jobs are out there. Find out how
positions differ in large and small companies—there are
pros and cons to both.
• Read trade magazines and industry periodicals to become
familiar with trends and issues.
• Understand the categories the company competes in—
read trade magazines, visit Web sites, or go to your local
grocery store and browse the shelves.
• “Be an intelligent and aware consumer: study store
shelves, watch TV ads, etc.”
• “Not limit myself to my area of expertise. For example,
you don’t have to be an IT expert to work on marketing for a
tech company. There is a lot of movement in this industry.”
TIpS To aCE YoUR INTERVIEw:
• Demonstrate your understanding of the company, its mis-
sion, and the market in which it competes.
• Emphasize your strong leadership and your people skills.
• Exhibit a passionate interest in the business.
• Demonstrate strong quantitative skills.
• “Be passionate, be a leader, be a high performer, and show
a repeated history of these things.”
• “Be prepared for cases. Marketing firms are turning
increasingly to the case-study method to test your ana-
lytical abilities and assess your marketing skills. They
typically provide an open-ended question involving a
strategic-marketing situation and ask you to address it.
An example would be: ‘Polarama is a firm that markets
children’s toys with a North Pole theme. They are consid-
ering whether or not to introduce “snow ball,” a new line of
Beanie Babyesque stuffed animals, in time for the holiday
season. What would you recommend?”
• Be prepared for situational leadership questions.
Interviewers are not only assessing the quality of your
answer but also looking for evidence of specific leader-
ship skills necessary for success in their environment. The
answers they seek may or may not be related to the ques-
tion they’ve asked you. For example, if an interviewer says,
“Tell me about a time in your previous job when your team
faced a deadline that you thought you would be unable to
meet, but you found a way to complete the task on time,”
he or she may in fact be more interested in what you say
about your team relationships than in how you actually
addressed the issue.
ThE CompaNIES YoU NEED To KNow aboUT
maRKETING
INDUSTRY GUIDE
moVING Up
In some areas of marketing, there is the potential to move
up very quickly, especially at more junior levels. (We spoke
with one MBA in the industry who has been promoted
three times in only two and a half years.) If you work at a
large CPG company, expect to advance more slowly. In the
brand management track you will likely stay an assistant
brand manager for three to five years before becoming a
fullfledged brand manager. “They really want people to put
in their time,” says one marketing executive at a cosmetics
company. Another insider notes, “There is a lot of upward
mobility at more junior levels, but it’s more difficult to
move from senior brand manager to category business
director since there are a limited number of positions and
little turnover. After five years, I want to be a senior brand
manager who is a strong candidate for the next category
business director opening.”
As previously mentioned, your ascent to the top will
depend heavily on which sector you are working in. Below
are average career timelines for the marketing divisions of
the Consumer Pharmaceuticals and Consumer Products sec-
tors.
Consumer Pharmaceuticals (Post-MBA)
• Associate marketing manager (two years)
• Marketing manager (three to four years)
• Franchise director (three to four years)
• Vice president
Consumer Products (Post-MBA)
• Associate marketing manager (two-and-a-half to three years)
• Brand manager (two to three years)
• Marketing manager (one to two years)
• Marketing director
• Vice president of marketing (can take 10 to 15 years to get
to this level)
“If you’re considered top of the heap, the next step is gen-
eral manager of a division. From there, it’s on to CEO!”
Note that while many large corporations have clearly
defined tracks, smaller organizations often have no typical
path. Do your research while you’re interviewing to deter-
mine what the ladder is like at a particular company.
whaT IT TaKES
Communication, presentation, and personal skills are keys
to success in the marketing biz. One associate sums up a
prime candidate as “the kind of person who can keep a
smallto medium-size crowd at a party entertained.” The
job will likely entail leading teams and motivating people.
It is important to be outgoing, possess the ability to influ-
ence others, and work effectively on a team.
People skills need to be balanced with efficiency and orga-
nization. Marketing execs must work well cross-functionally,
adapt quickly, and still maintain a professional and personable
demeanor. “You have to identify issues quickly and summa-
rize them succinctly—without being curt or blunt.”
Quantitative skills, strong analytical and writing abili-
ties, and strategic thinking are also qualities that are key to
success in this industry.
TYpICaL DaY
“There really is no typical day” is a chorus we heard again
and again. One insider says, “I lead a variety of projects
that have cross-functional teams, so some days I’m running
from meeting to meeting, while other days I’m doing indi-
vidual analyses.” Activities could include:
• Meeting with your brand team or talking one-on-one
with a brand manager.
• Attending a training workshop from an outside supplier.
• Conducting financial analysis—looking at volume and
profit numbers in a category or for a specific product.
• Discussing technical feasibility of a product with R&D.
• Analyzing market research issues.
• Planning or attending focus groups.
• Discussing trade issues with sales department.
• Fulfilling requests of PR agency for information.
bUZZwoRDS
Customer loyalty
Personalization
Incentivize
Cannibalization
CRM (customer relationship management)
CPFR—Collaborative Planning, Forecasting and
Replenishment
RFID—Radio Frequency Identification
P&L
Category management
Category killer
Brand switchers
Lovemark
Premiums/tchotchkes
Private labeling
pRoS & CoNS
Pros
• Smart, motivated people
• Great training and preparation for the future
• Excitement of seeing a product you’ve worked on hit the
shelves
• Flexibility
ThE CompaNIES YoU NEED To KNow aboUT 22
• The cocktail party recognition factor: When you mention
your product, you won’t get a blank stare (usually) .
• Develop and hone management skills
• Creativity
• Diversity of tasks
• Ability to influence business, even as a newcomer
• Mature industry
Cons
• Stressful crunch periods
• There can be a lot of dry number-crunching in the first
years
• Office politics
• Sometimes slow pace of upward mobility—you have to pay
your dues
• Many CPG firms located in non-metropolitan areas
• Competitive and sometime bureaucratic environment
mISCoNCEpTIoNS
Myth: “It’s all about strategy and developing marketing
plans.”
Reality: There are a lot of details in this job that can really
bog you down if you’re not careful.
Myth: “Marketing is ‘fluff ’ and not quantitative.”
Reality: Strong quantitative skills are becoming increas-
ingly important and highly valued in this industry. Ph.D.s
in statistics are common, particularly in market research
divisions.
Myth: “This is a glamorous industry.”
Reality: As in any business, there are perks as well as more
tedious tasks that must be completed.
Myth: “Marketing is nothing but advertising and design-
ing coupon artwork.”
Reality: That’s just one tiny piece. Marketing is much
more than advertising.
Myth: “Brand people are cheerleader-types.”
Reality: This is a demanding job and requires a lot of ana-
lytical thinking and “alone time” in the cubicle thinking
about business issues.
GREaT pERKS
• Team dinners
• Recruiting trips
• Work-from-home flexibility
• Access to an incredible amount of information
• Product discounts
• Free magazines
ThE CompaNIES YoU NEED To KNow aboUT 23
maRKETING
INDUSTRY GUIDE
[hIGh TECh/TELECom]
oVERVIEw
If you want to work with the hottest, newest gadgets—and
if you thrive in a fast-paced, competitive environment that
offers plenty of opportunity for swift advancement, but
may actually be around long enough to make a meaningful
contribution to your 401(k)—a tech company could be just
what the doctor ordered.
A few years ago, many Old Economy firms frantically
tried to remake themselves as future-savvy, egalitarian
institutions. But when dot-com went dot-bust, many com-
panies reinvented themselves yet again. Corning, for
instance, first cast off its image as a household name in
kitchenware and reinvented itself as a hot engineer-driven
fiber-optics producer—but now is winning raves for its flat-
panel glass.
In an industry based on innovation, companies are
continually vying to be the first to uncover the “Next Big
Thing.” The tech industry is rife with acquisitions, spinoffs,
and spin-ins. Changes in corporate structure are common,
even at the largest firms.
Silicon Valley, Austin, Seattle, Boston’s Route 128 corri-
dor, and New York are home to many prominent technology
firms, but biggies (especially older companies) are scat-
tered all over the country—Motorola’s headquarters are in
the Chicago suburb of Schaumburg, Illinois, and Corning,
New York, is still home to the eponymous company.
maJoR pLaYERS
In an industry of this scale, major players generally con-
centrate on a sub-sector rather than the full spectrum.
Microsoft has a virtual monopoly on desktop operating sys-
tems, though Apple fanatics swear by the latest version of
OS X, Oracle is a key player in the database arena and Sony,
Sun Microsystems, IBM, Toshiba, and others build PC and
server hardware.
In entertainment software, Electronic Arts and
Activision are big on the PC side, with Nintendo, Sony, and
Microsoft delivering console games. Sony’s PlayStation
Portable made a splash when it came out. Blizzard’s World
of Warcraft game has also gained immense popularity.
Internet infrastructure is provided by the likes of
Corning, Lucent, JDS, Uniphase and Cisco, which is such
a monolith in this area that its name is practically synony-
mous with routers.
Anything with a microprocessor probably uses chips
from Intel, AMD, IBM, or Motorola. Intel has a Microsoft-
esque lock on desktop processors where as Motorola has a
strong presence in embedded systems. Meanwhile, Apple
has recently begun installing Intel processors in its Macs.
Sprint Nextel, Verizon, Cingular, T-Mobile, AT&T, and
the like battle it out in the wireless/wireline space.
TRENDS
User Generated Content: Is there anything Google can’t
do? First it was the Internet, then click and drag maps, then
a desktop search and chat. Now Google, along with many
other tech outfits, is making room for a lot of user-generat-
ed content. Blogger, Google Base (Offers users a way to post
content and have it show up on Google) and Page Creator (a
simple Web-site design tool) are some of the latest offerings
for web users looking to be interacted with, seen, heard. Its
latest move, of course, is the purchase of YouTube.
Security: Since the September 11 terrorist attacks and
the subsequent bombings in Madrid and London, firms are
increasingly looking to technology for security solutions.
Interest in biometric devices—using retinal scans, finger-
prints, and the like—is high.
Voice over IP: Firms like Vonage are promising local
and long distance phone service over the Internet at lower
prices than those of traditional companies, and many cus-
tomers are biting--so many traditional telecoms are offering
similar deals. Companies like Skype offer free calling from
computer to computer, and other low cost internet phone
services are keeping the heat on the larger VoIP players in
this red-hot market.
GETTING hIRED
This is an industry full of personality and product cults, so
know the technology—and if possible, become part of the
cult. Some companies are stricter than others in that regard:
Apple prefers to hire Mac-heads, and Electronic Arts focus-
es on gamers. When talking to wireless firms, know the
global context for their products; much of the world’s wire-
less action happens outside the United States, in Europe
(particularly Scandinavia), South Korea, and Japan.
Several of our insiders said that interview questions
focused not only on the company’s technology but also
on industry competitors; so read the latest trade publica-
tions. And don’t rely on monthly magazines, which can
be behind the times in this fast-paced business. Scour the
Web for the latest headlines, and keep up with what’s hap-
pening. Weblogs to keep an eye on for the basics include
Slashdot, Engadget, and Gizmodo.
SaLaRY
With the promise of stock-option riches all but a distant
memory, tech industry job applicants are focusing on straight
ThE CompaNIES YoU NEED To KNow aboUT 24
salary. Generally, you’ll find that salaries start at $80,000 and
up, depending on the size of the company, it products of ser-
vices, and where it’s located. After a few years, expect to be
making $100,000—and even more at big-name firms.
hoURS
This is an intense industry for intense people. “It is always
crunch time,” one product manager says. You’ll probably
work a reliable 60 to 70 hours a week, with the time com-
mitment sometimes increasing as you move up.
TRaVEL
Depending on your job, work-related travel can be rela-
tively common at a tech company. Product managers,
marketing managers, and business development managers
all reported traveling about one week a month.
oFFICE CULTURE
Cubicles, cubicles, cubicles. Among the cubicles, though,
there can be a definite sense of camaraderie and even fun;
software companies are the most extreme example, with
free food and other perks, like company sponsored beer-
fests or happy hours.
Dress is usually casual or “office casual.” At many firms,
marketing and biz-dev staff who have direct contact with
corporate clients still sport suits from time to time.
ThE CRowD
High-tech workers reported their colleagues to be
bright but sometimes competitive to a fault. Though
the sector boasts an ethnically diverse population with
a gay-positive attitude, women tend to be heavily rep-
resented only in lower levels (especially in marketing).
Few tech CEOs are female; Hewlett-Packard’s former
chief, Carly Fiorina, and Xerox’s Anne Mulcahy are
standouts.
The dynamic among colleagues at some firms seems
to be straight out of a David Mamet screenplay—cutthroat
and backstabbing. “The rule of thumb is to assume that
everyone is dumber than you are, and then convince them
of that over time,” one Microsoft employee says.
What some consider brutal, others consider honest
and flexible. In an industry moving at the speed of light,
managers always have to be open to new ideas, even from
lower-level employees.
Educational backgrounds vary. Many high -tech
managers came from non-MBA career tracks, such as
engineering. The sweet spot seems to be a combination
of experience in engineering, marketing, business, or all
three. A business education rounds out technology-relat-
ed skills but is not the core of the skill set.
GETTING IN
MBAs in this industry work in management, business
development, product development, and marketing. The
more diverse your educational background—the more
technical, especially—the more routes are open to you.
Big tech companies, such as HP, Microsoft, and Motorola,
recruit at business schools. Half of our insiders were recruited on
campus; the other half got their jobs through friends or mentors.
High-tech companies are looking for MBAs with beyon-
dMBA experience. “No one wants to train anyone,” one
manager says. So if you’re looking at wireless companies,
read up on 3G, UMTS, and so forth. If you’re looking at soft-
ware companies, buy or borrow their products and become
familiar with their marketing sectors and strategies.
If your experience is primarily technical, read up on
market strategies and positions, peruse industry publica-
tions, and talk to people at competing companies.
moVING Up
Promotion can be pretty fast, though not at the warp speed
of start-ups and Internet-only companies. “In the past two
years, I have been promoted three times,” one telecom exec-
utive says. Creating new business seems to be key, whether
it’s coming up with a new product or expanding a new line.
Companies closer to the Internet world—Microsoft, for
instance—have more flexible career paths than others. The
workers we surveyed at large companies hope to take their
experience to smaller companies, where they could attain
more influential positions.
whaT IT TaKES
Drive, intensity, and perseverance. One customer relationship
manager said she’s surrounded by “Act now, ask for forgiveness
later” people. Combining that drive with the charm necessary
to turn it into teamwork is a magic bullet that will take you
far. You’ll also have to be very flexible to adapt to a continually
changing work environment, one where you’ll probably be
managing people who don’t really report to you and taking on
several tasks at once. Remain efficient.
Tech companies value MBAs, especially in the current
competitive environment, where a tech savvy company
cannot survive without making smart business decisions.
If you don’t feel like going back to school to get an engi-
neering degree, don’t worry—even the layman’s knowledge
of an enthusiastic geek will give you a leg up.
TYpICaL DaY
“Crazy,” one product manager says. The typical high-tech
manager’s day is a string of meetings, e-mail, and telecon-
ferences. MBAs don’t end up as “microserfs,” programming
computers or designing semiconductors. Instead, they-
ThE CompaNIES YoU NEED To KNow aboUT
hIGh TECh/TELECom
25
INDUSTRY GUIDE
write proposal after proposal to expand new business or
direct their companies’ future paths.
Elements of a day may include:
• Lots of e-mail, eating up to a third of your day.
• Meetings with clients, engineers, executives, salespeople,
or business development teams.
• Product management: market research and analysis,
writing announcements, getting in touch with develop-
ment teams.
• Writing proposals for new business.
bUZZwoRDS
802.11g
VoIP
Open source EVDO
Podcast
Moblog, videoblog, liveblog RSS
mISCoNCEpTIoNS
Don’t think for a second that this sector is homogeneous,
or that all companies are trying to work like small compa-
nies. Big-company bureaucracy is thoroughly entrenched
at some large firms, but not in others.
A Microsoft employee pointed out that “technology
businesses are [not] run by business people”—hers, after
all, is run by a college dropout who earned his degree in
the marketplace rather than the classroom. Michael Dell
started his business at 19. Be aware of the tech-company
dynamic that leaves influential engineering types suspi-
cious of the “suits.” Better yet, don’t be a suit.
pRoS & CoNS
Pros
• Bright, motivated colleagues
• High degree of autonomy
• Continual new challenges
• Openness to new ideas
• Working on the “next big thing”
Cons
• A sometimes brutally competitive culture
• High pace of change
GREaT pERKS
• Good benefits: 401(k)s, employee stock purchase plans,
strong medical plans
• At some companies, free beer, game rooms, and other frivolities
• Casual atmosphere
ThE CompaNIES YoU NEED To KNow aboUT 26
[hEaLTh CaRE/bIoTECh]
oVERVIEw
Far from being a single industry with clearly defined pro-
ducers and buyers, health care comprises a complex web of
stakeholders: insurers, “payers” (public or private entities
that pay for health care costs), and regulators; hospitals,
pharmaceutical firms, and device makers; physicians and
other health care professionals; and consumers. Over the
past two decades, the major trend has been the introduc-
tion of managed-care organizations (MCOs) and other
mechanisms to rein in skyrocketing costs.
Recently, thanks to consumer and political pressure,
MCOs and other payers have loosened the leash, allow-
ing greater patient choice and physician autonomy. Costs
are on the rise again, but now the emphasis is on control-
ling expenses and boosting quality, often by bringing new
technologies and business strategies to bear on traditional
health care organizations.
Meanwhile, hundreds of biotechnology and device
companies are vying to introduce the next billion-dollar
drug or must-have device (or, in some cases, combinations
of the two). While the drug development industry has a
high failure rate—most prospects never make it out of clini-
cal trials—dozens of drugs each year survive the grueling
process of clinical testing and FDA approval. The effect of
these new products on overall costs is mixed. In some cases,
expensive new medicines and technologies raise costs, but
in others they lower them by reducing the need for proce-
dures or ongoing care.
Introducing these products can be a challenge worthy
of the most aggressive marketer. Because of their tight cost
environment, providers are skeptical of new technologies.
New technology also requires additional training that may
be difficult to schedule with heavy patient loads, and pay-
ers—always the 500-pound gorilla in the room—may resist
shelling out more money.
TRENDS
Consolidation in major pharmaceutical companies.
Johnson & Johnson last year bought Pfizer’s consum-
er health care unit for $16.6 billion cash, and German
drug giant Merck completed the $13.9 billion takeover
of its Swiss competitor Senono. Germany’s Bayer has
recently outbid rival Merck to the tune of $19.6 billion,
in its move to acquire Schering. Despite continued
consolidation trends, the pharma industry remains
segmented.
Evidence-based medicine. Increasingly, physicians are
being encouraged to follow standardized treatment proto-
cols called guidelines and pathways, which are based on
clinical studies and elite physician groups’ opinion. Some
docs chafe at “cookbook medicine,” but others embrace it
for providing more consistent, high-quality care.
Rising costs. Stung by experiences with managed care,
consumers are increasingly opting for more flexible insur-
ance plans, and many managed-care organizations are
lowering barriers to health care in the face of market and
political pressure—allowing patients easier access to out-
ofnetwork providers, for instance.
Improving quality, reducing mistakes. A 1999 report
drew harsh reactions when it estimated that 44,000 to
98,000 Americans die each year as a result of medical
errors and low-quality care. As a result, the president of
the Institute for Healthcare Improvement launched a
program to improve care in hospitals. From December
2004 until June 2006, 3,100 hospitals participated in the
“100,000 Lives Campaign,” a series of six quality assurance
measures aimed at reducing the rate of lethal errors. The
results, recently released, show that the program may have
saved more than 120,000 lives during the 18 months from
which data was evaluated. More hospitals are expected to
join the program as the push toward higher quality care
continues.
Aging population. The boomers’ twilight could be
golden years for those in health care businesses, or it could
force another round of painful, radical changes.
Outsourcing development. Large pharmaceutical firms
will often forgo developing certain drugs if the market is
not perceived as large enough. As a result, many smaller
biotech companies are acquiring the rights to develop
these products from the larger firms. Vaccine development
is especially attractive to these small start-ups, since larger
companies often balk at the immense amounts of R&D dol-
lars and time commitment required.
The uninsured. With employer coverage on the
decline, the number of U.S. consumers buying their own
medical policies is growing.
Cultural sensitivity. As U.S. demographics change,
health care organizations are paying more attention to
diversity issues and cultural competence in caregivers.
Litigation. The Vioxx verdict was just the beginning—
more awards and settlements are sure to follow.
SaLaRY
Salary depends on many factors: the type of compa-
ny or institution you join, the specific job, and other
degrees or experience you bring to the table. Those
from a middle-tier B-school with a health care concentra-
ThE CompaNIES YoU NEED To KNow aboUT
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INDUSTRY GUIDE
tion who join provider or payer firms can expect around
$50,000 to $60,000 to start, moving to $80,000 or more
within a few years. Pharmaceutical and device companies
offer starting salaries of $75,000 to $95,000.
Start-ups and earlier-stage biotechnology and device
firms pay top executives $150,000 to $250,000 (usually on
the lower end of the range), plus stock options and bonuses.
“The opportunity to make an impact and increase your
responsibility, salary, and overall compensation is much
better in smaller, earlier-stage companies than in larger
companies, but the risk is greater,” one biotech executive
says.
You also have the option of working for the health care
practice of a consulting firm, or in an investment bank.
These positions typically pay $80,000 to $110,000; higher
salaries go to those who graduate from top schools or have
additional relevant degrees. Venture capitalists are also
looking for MBAs to help them perform due diligence on
potential health care-related investments. These jobs pay
$125,000 to upwards of $200,000, often with bonuses.
A dual degree can give you an automatic salary boost.
A Ph.D./MBA generally garners $100,000 and up; an M.D./
MBA, about $125,000 to $150,000 and up at most organiza-
tions. While the starting salary for an M.D./MBA is higher
than for those with just an MBA, it’s about the same as an
average family practitioner’s salary. “An MBA does not ini-
tially give a great salary boost,” one MBA physician says,
“but there is greater growth potential if you’re in a forprofit
arm [of the health care sector].”
hoURS
Working hours depend on your specific job and industry
segment. If you work in finance at a hospital or in market-
ing at a pharmaceutical firm, you might have standard
business hours. For those in consulting, a 55to 75-hour
week is the norm (some firms are more committed to
worklife balance than others). Those who work with ven-
ture capitalists or in investment banks also work 50-plus
hours a week. Naturally, at a development-stage biotech-
nology or device firm, you’ll have all the excitement—and
long hours—expected at a start-up.
TRaVEL
The amount of travel varies tremendously from job to job.
A consultant may spend 15 or more days on the road each
month, while a hospital CFO travels only rarely. Those in
health care venture capital or business development might
spend up to 30 percent of their time traveling.
Biotechnology executives may be on the road one to
three times a month to meet with corporate partners or
potential investors, or to make presentations at investment
conferences. During a “road show” to raise money, more
travel may be required.
If a job calls for keeping up with the latest advances in
diagnosis and therapy, attendance at medical conferences
is essential.
oFFICE CULTURE
Health care culture tends to be conservative, particularly
at the corporate level. Business attire is the rule, although
many offices have adopted casual-Friday policies. At a
start-up, the dress code is more casual. Consultants usually
dress formally at the client site or for client meetings, but
business casual is the rule on Fridays at the home office.
ThE CRowD
Everyone working in health care has to learn how doc-
tors think. Physicians are the gatekeepers of health care
and interface with virtually every other segment of the
industry. Their decisions determine whether a new drug
is a billion-dollar-a-year blockbuster or one of several
$100-million-a-year also-rans. Their willingness to com-
ply determines whether a cost-savings guideline will be
fully implemented or largely ignored. The bottom line is
that you must achieve physician buy-in to effect change in
health care.
Because health care is such a large industry—oneseventh
of the U.S. economy—it is diverse. Health care workplaces,
whether at the corporate or delivery level, bring together
smart people from many backgrounds, although many of
the traditional gender and race divisions remain: You won’t
meet too many male chief nurses or managers of home-
care operations yet.
GETTING IN
If you have an MBA along with an M.D., Ph.D., R.N., M.P.H.,
or other science/health care degree, the job search is often
just a matter of picking the opportunity you want. Unless
you are interested in consulting, campus recruiting ses-
sions will probably be less useful than handing your CV or
resume to top recruiters and targeting journals that adver-
tise the kinds of positions you’re interested in.
If you are one of the slackers out there with only one
measly graduate degree, the advantage goes to B-school
grads with a health care background or those who have
pursued a health care concentration within their MBA
program. Health care firms actively recruit at schools with
such concentrations.
Your best bet if you have an MBA without such a con-
centration is to seek a job in the health care practice of a
consulting firm or investment bank, or to pursue a mar-
keting or finance position within a large pharmaceutical
ThE CompaNIES YoU NEED To KNow aboUT 28
or device company. These companies have the infrastruc-
ture in place to help you build health care expertise as you
advance in your career.
Development-stage biotechnology and device firms
usually seek candidates with a life-science background or
relevant experience, as these companies lack the resources
for extensive training and need people who can hit the
ground running.
If you are interested in working at a small biotech firm,
delve into company fundamentals to make sure you know
what you’re getting into. “Management, science, and exe-
cution are key,” a biotech executive says. “It’s absolutely
critical to understand who is running the company, and
how it’s being run. Understand the business model and the
competitive landscape—does it make sense? You need to
really try to understand the science behind the company,
and make sure it’s good, credible science. Be wary of things
that sound too good or perfect!”
Venture capital firms also look for experience. They
often tap Ph.D.’s and M.D.’s but also hire MBAs, particularly
those with experience evaluating business plans and per-
forming due diligence.
Be sure to do your homework before the interview. If
you’re interviewing at a hospital, for example, you should
be prepared to talk about such hot-button issues as the per-
sonnel shortage and the drive to reduce medical mistakes.
At a pharmaceutical company, you’ll want to be comfortable
chatting about the impact of biotechnology and direct-to-
consumer advertising.
In addition to the organization’s own Web site, check out
industry or medical association sites. You might even go to
a medical school library and browse through a year’s worth
of a relevant journals to get a feel for what insiders are talk-
ing about. Schedule as many informational interviews as
you can with people in the field.
If the job involves practice management, the employer
will respond well to an entrepreneurial bent, as well as evi-
dence that you will be able to deal with payers and HR issues.
Questions you might ask during the interview:
• What other positions are there for a person with an MBA
within this organization?
• What are the opportunities for advancement?
• What will I need to learn to become fully effective in
this job?
• To whom am I directly and indirectly accountable?
• With whom will I be working most closely: physicians, nurs-
es, insurers, researchers, or other business professionals?
• How would you characterize the relationship between
the business side of your organization and the health care
professionals whom it employs or with whom it interacts?
moVING Up
Health care might have a somewhat staid reputation
among business school students, but organizations are
often relatively flat, employ few MBAs, and provide ample
opportunity to move up and command a respectable salary.
Chances are you won’t be one of dozens of new recruits;
you may acquire substantial responsibility early on, and
have opportunities to interface directly with the CEO,
CFO, and/or vice presidents on a regular basis.
Examples:
• At a national home health care firm, an MBA can enter as
a branch director and be only four steps from a senior vice
presidency.
• An M.D./MBA without previous business experience
joined a device company as a vice president.
whaT IT TaKES
An interest in how business and health care intersect, par-
ticularly the relationships between providers and payers, is
key. You will need to master the art of communicating with
physicians and other health care professionals or scientists,
and perhaps with investors if you land at a start-up. If you
move into business development or marketing, a knack for
understanding statistics and scientific research is impor-
tant. You may be called upon to evaluate the prospects of
a new technology, or to develop strategies for selling that
technology to physicians. While the organization will
provide scientific and medical support, your ability to
understand and communicate the fundamentals of your
business is essential to success.
TYpICaL DaY
A typical day varies according to the nature of the job. As in
any other corporate environment, you’ll spend time on the
phone and answering e-mail, as well as writing reports and
meeting with other executives to plan strategy. In a prac-
tice management setting, you may be called on to do more
day-to-day troubleshooting—such as coming up with a plan
when three nurses call in sick.
A health care consultant’s day often begins at 7 or 7:30
a.m. and runs 12 hours with a deskside lunch. It might
include meetings with hospital officials (the CEO, CFO,
medical director, chief nurse, etc.), development presen-
tations and spreadsheets, research into solutions that are
available to address the organization’s problems, a few calls
to schedule meetings with other clients, and a late-evening
dinner with the consulting team.
For a health care venture capitalist, the day starts with
responding to e-mails and phone messages (and there are
usually quite a few, since so many companies seek funding).
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INDUSTRY GUIDE
Conference calls and meetings, research (on the Web or
by calling investment bankers and other VCs), or writing
investment memos are par for the course.
A biotech executive might spend the day fielding calls
from existing and potential investors, analyzing the latest sci-
entific reports and requests for new equipment, and working
on a presentation for an upcoming investors’ conference.
bUZZwoRDS
Reimbursement
Evidence-based medicine
Guidelines
Pathways
Length of stay
Quality care
Medical mistakes
Minimally invasive
Hospitalist
Legacy system
Utilization management
Disease management
Payers
Clinical trials
Physician-patient interface
Patient throughput
pRoS & CoNS
Pros
• Stable (with the exception of start-ups)
• High growth potential, as boomers age and new technolo-
gies enter the market
• Relatively recession-proof
• Ongoing discoveries and new studies keep the field inter-
esting
Cons
• Other stakeholders may have a large role in decision
making
• Heavily regulated
• Difficult to effect change quickly
mISCoNCEpTIoNS
Myth: A health care degree is a must.
Reality: You don’t have to hold a health care degree to
advance into the top tier of management at most health-
care organizations (though, obviously, that helps). MBAs
are often just a few steps away from a senior-level position.
Myth: Health care enterprises are sleepy and staid.
Reality: Compared to some investment banks and con-
sulting firms, health care enterprises can seem slow. But
change is accelerating with the advent of new drugs and
devices, and substantial growth is all but ensured in the
coming decades as the U.S. population ages.
GREaT pERKS
A big perk for some is simply being on the cutting edge of
an exploding field of human knowledge. More practically,
you’ll learn about managing your own health care and that
of your family, including how to interact with doctors and
insurers effectively.
ThE CompaNIES YoU NEED To KNow aboUT 30
[VENTURE CapITaL/
pRIVaTE EQUITY]
oVERVIEw
The National Venture Capital Association defines ven-
ture capital firms as “private partnerships or closely held
corporations funded by private and public pension funds,
endowment funds, corporations, wealthy individuals, for-
eign investors, and the venture capitalists themselves.” In
a nutshell, these firms invest their own capital in compa-
nies in exchange for a generous share of stock and future
profits. They often get equity stakes of 20 to 40 percent.
Their end goal is to help build a strong company and drive
it toward a liquidity event like a merger or IPO so they can
make a considerable profit.
Though the first modern VC firm was founded just
after World War II, the industry didn’t really take off until
the 1980s. In the ’90s, VC firms began to invest in burgeon-
ing Internet companies. Equity financing soon surpassed
debt financing as the entrepreneurial model of choice. A
slew of successful IPOs fueled the VC fire.
While VCs are much more cautious about investing
in today’s post-dotcom environment, things are certainly
looking up. According to the National Venture Capital
Association, in 2006 VCs invested $26 billion in more than
3,000 companies.
TRENDS
After a rather stagnant period, venture funding of ear-
lystage companies is also back, and seed money is once
again available. Investments in e-commerce start-ups have
fallen drastically, while those in life sciences and medi-
cal device companies have risen. The criteria VCs look
for in potential investments are changing. They are less
impressed by high-concept companies and more attracted
to strong management teams, existing sales, and near-term
profit potential.
GETTING hIRED
This is not an easy industry to break into. Most VCs employ
MBAs, usually from top schools. Many of those MBAs also
have degrees or professional backgrounds in technical
fields like software, telecommunications, or health care.
The combination of business/finance experience and tech-
nical prowess is a winning one in this industry.
The venture capital biz is all about schmoozing, and its
hiring process is no different. A few of the larger firms will
make appearances at specific B-school campuses, but posi-
tions are few and far between, so the selection process is
highly competitive. Most firms hire only based on the refer-
ral of a trusted source—so network, network, network.
SaLaRY
In the VC/private-equity world, your compensation is
broken up into salary, bonus, and carried interest. Salaries
generally range from $100,000 to $200,000 and bonuses are
“significant”—usually greater than the base salary. Carried
interest is determined and calculated in myriad ways, but is
basically the profit split of proceeds to the general partner.
One 10-year industry veteran estimates his annual income
to be upwards of $1 million.
hoURS
Sixty to 70 hours a week is the norm.
TRaVEL
How much you travel depends on where your portfolio
companies are. Most VCs report traveling one to two days
each week.
oFFICE CULTURE
VC firms range in size from two to 40 people, with most
hovering at five to 15, so the atmosphere is quite intimate.
One insider describes the mood as “mature, intense, highly
professional, and discreet.” Dress is generally business casu-
al. Though the hours aren’t as intense as those in investment
banking or some consulting positions, people work diligent-
ly and lunches are often spent in front of a computer.
The social life in VC firms isn’t like that of an invest-
ment bank or a typical Internet start-up. It isn’t an industry
that most people break into right after college like consult-
ing or investment banking, and “work hard, play hard” is
definitely not a mantra you hear at VC firms. Most people
have worked in another industry and gone to B-school, so
the age range is higher, and many people have families.
ThE CRowD
This is not a business for the faint of heart. The stakes
are high and you must be willing to take risks. Although
VCs are always zealous about performing due diligence
on potential investments, “gut instinct” is also a factor in
every decision. You have to trust yourself and your busi-
ness savvy.
Your average venture capitalist is not only a very com-
petent businessperson, but also an incredible schmoozer. If
you are the type to eschew cocktail chat and rounds of golf,
you should think twice about your future in this business.
Most people in the industry are MBAs. In fact, the degree
is almost always a prerequisite to get your foot in the door.
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VENTURE CapITaL/pRIVaTE EQUITY
INDUSTRY GUIDE
You rarely see people transition straight from B-school into
a VC firm, though. It’s not impossible, but it’s tough to pull
off. VCs generally have previous work experience in other
industries. A senior associate at one firm says, “There are
five partners in my firm: Three had careers as partners in
consulting firms, one has a Ph.D. in health sciences, and
one was a pharmaceutical representative.”
The VC world is not the most diverse, and women tend
to be scarce. The co-founding partner of San Franciscobased
firm Hummer Winblad Venture Partners is a woman, but
this is a rarity. Many firms still have an “old boys’ club”
atmosphere. Some insiders claim that a set of golf clubs is
a must.
GETTING IN
In the VC industry, supply and demand are simply not
on the side of the job seeker. As one of our contacts notes,
“This isn’t the kind of job that has organized recruiting.”
Most freshly minted MBAs put in a couple of years at top
consulting firms or investment banks before attempting a
foray into a venture capital firm.
What’s your best shot? One industry insider says “It’s
all about networking. The chance of getting a job by send-
ing in a resume and cover letter is very slim. Even with a
warm lead, it’s hard.” Another agrees: “Don’t expect a cover
letter and resumé to get you a job. Network as hard as you
can. Send your resumé to headhunters.” You should also
consider joining the high-tech, investment banking, or
entrepreneurship clubs while you’re in B-school. If you are
serious about the VC industry, these are the kind of people
you will want to cultivate relationships with. They are use-
ful contacts and will one day provide great deal flow.
The key, according to those who have been through it,
is to have someone who’s pulling for you. Get in touch with
undergraduate or B-school alumni in the business, meet as
many people as you can, and make an impression. VC firms
will rarely go to schools and interview. If they do, they are
guaranteed to have hundreds of students vying for one or
two positions. Usually, they rely on the referrals of trusted
friends and colleagues.
Don’t expect trick questions or cases to be thrown at you
in an interview at a VC firm. These intimate operations
depend on good chemistry between employees, so you
should expect to meet every professional at a firm. Often,
everyone has veto power. They want to get a feel for who
you are and what you’re about, since they’ll be depending
on you to make multimillion-dollar decisions.
moVING Up
Your upward mobility in this business is determined by
your firm’s partners. There is no strictly prescribed pathas
there is at a large bank or consulting firm. Most insiders
describe the system as meritocratic. If you prove your-
self to be someone who is intelligent, possesses a keen
business sense and excellent judgment, and “clicks” with
colleagues and clients alike, you can usually expect the
ultimate reward: partnership. Our contacts estimate that
in most cases, however, it takes anywhere from five to 10
years post-MBA to reach this level. Most VCs can make VP
within four years.
whaT IT TaKES
Ambitious, self-starting, thoughtful, and diligent are all
words that came up when we asked insiders to describe
the qualities that spell success in this business. Firms look
for people who “enjoy thinking outside the box” and “don’t
need to be told exactly what to do.”
Banking is a helpful background. One insider stresses
that you must have “experience in financial analysis. Once
you get in, there’s no real training.”
Strategic consulting experience is also helpful. You must
be quick to absorb facts on every topic in every industry
and have an analytical mind-set. Flexibility and an entre-
preneurial spirit are also important.
There are other necessary qualities that aren’t as tangible
but are equally important, like strong business intuition,
social skills, solid judgment, and maturity.
TYpICaL DaY
“Chaotic, to say the least,” says one veteran. Others
described their days as “hectic,” filled with lots of meet-
ings, a constant flood of e-mail and phone calls, and many
informal tête-à-têtes with colleagues. One founder laid out
his schedule for us:
• Reviewing business plans
• Interacting with clients
• Preparing materials
• Facilitating meetings
• Screening investment portfolios
• Working with portfolio companies
• Closing deals
bUZZwoRDS
Registration rights
Piggyback rights
Tagalong rights
Roll-up
Angels
EBITDA
Incubators
IPO
Seed money
ThE CompaNIES YoU NEED To KNow aboUT 32
Liquidity event
Vesting
Lead investor Series A (B,C,D)
pRoS & CoNS
Pros
• Flexibility
• Smart colleagues
• Exciting clients
• Intimate environment
• Autonomy
• Learning curve never flattens
• Constant challenge
• Ability to make decisions and influence events
• Close to all aspects of running a corporation without actu-
ally running it
• Diversity of tasks
• “There may be no better way to learn about how business
works at a high level than a role in private equity. I was in
consulting before I joined this industry and had no idea
how little I knew about business.”
• Working with a variety of industries and taking on a vari-
ety of roles
Cons
• All-consuming
• Frustrating at times
• Risky business
mISCoNCEpTIoNS
Myth: The same skills that will make you a successful con-
sultant or investment banker will make you a successful
venture capitalist.
Reality: You can’t learn this trade, you just have to do it.
This industry has its own unique skill set. You can’t walk
out of an investment bank and into a private equity shop
and know what you’re doing.
Myth: The pay packages for the successful in this business
are substantial.
Reality: Make that incredibly substantial. Partners take in
between $1 million and $2.5 million a year at the top firms.
Associates also make out quite well.
GREaT pERKS
• Flexibility (have cell phone/BlackBerry and can work
from anywhere)
• Reasonable hours
• Great compensation package
ThE CompaNIES YoU NEED To KNow aboUT 33
VENTURE CapITaL/pRIVaTE EQUITY
INDUSTRY GUIDE
[REaL ESTaTE]
oVERVIEw
Real estate is a high-risk industry – and historically, it can
also be high-reward. Although the likelihood of becoming
a mogul of Trump-like proportions is small, many MBAs
with entrepreneurial mindsets are turning to this field,
attracted by the potential for equity accumulation. The
multifaceted industry offers opportunities in brokerage,
consulting, development, investment, and more.
The real estate business is constantly evolving – and in
2007 took a dramatic shift for the worst. The sub-prime
lending trends that many credited as giving an decade-
long boost to the industry – and the U.S. economy as a
whole – came crumbling down. As a result, home prices
in most markets slumped, foreclosures abounded, and lay-
offs in the lending sector made headlines . At press time,
all eyes were on the real estate industry, waiting to see how
the dust would settle on this major economic indicator.
Over the last decade, consolidations, mergers, and alli-
ances have bifurcated the list of players. Huge multiservice
firms, such as Trammell Crow and CB Richard Ellis, make
up one level; many midsize companies have been rolled up
into these vertically integrated firms, which offer a range
of services including property sales, leasing, and manage-
ment; corporate services; investment banking; investment
and asset management; capital markets; and appraisal/val-
uation. Small, local, specialized firms comprise the other
level.
Industry segments include asset management firms,
banks, brokerages (sales, leasing, mortgage, and tenant
representation), corporate real estate, construction firms,
development companies, hospitality firms, property man-
agement companies, real estate investment trusts (REITs),
and third-party service providers (environmental firms,
architectural firms, engineering firms, title companies,
and so forth).
Career opportunities for MBAs in real estate vary wide-
ly but generally fall into one of three basic categories with
some jobs, such as consulting or development, falling into
more than one:
Corporate finance. Corp fin focuses on the money
involved in real estate transactions: where it comes from,
how it is managed, and where it goes.
Property. The emphasis here is on the property itself.
These jobs are typically property management, leasing
agency, and brokerage positions. Developers fall into both
this category and the investment finance category—they
manage a project from inception through completion. And
yes, a few MBAs do go into residential brokerage: One of
our sources gave up a lucrative career in finance to handle
residential property in New York City.
Investment finance. These jobs involve analysis, acqui-
sitions, asset management, loan origination, loan servicing,
mortgage banking, and securitization. Opportunity funds
are especially popular. The usual entry-level position is
analyst or associate.
maJoR pLaYERS
The list includes all the usual suspects: major financial
services houses, such as Credit Suisse, Deutsche Bank,
Goldman Sachs, Lehman Brothers, Wells Fargo & Co.,
Merrill Lynch, and UBS; and real estate bigwigs like
Trammell Crow, Cushman & Wakefield, CB Richard Ellis,
Hines, Lincoln Property Company, Archstone-Smith, and
Del Webb (Pulte Homes). Big names on the REIT side
include Equity Office Properties Trust, Weingarten Realty
Investors, and Mack-Cali Realty Corporation.
TRENDS
There has been a gradual cultural shift from old boys’ club
homogeneity to greater diversity. There are unspoken ini-
tiatives to increase hiring of women and minorities. One
longtime insider admits, “It’s a very sensitive subject.” At
the same time, ownership of property is becoming increas-
ingly institutional (as opposed to individual).
SaLaRY
New grads can make anywhere from $50,000 to $150,000,
plus bonuses. One recent graduate attributes this range
to the relative differences in opportunities: “Real estate
is an entrepreneurial field. Owners make the money, not
service providers. People may want to take a low salary to
work with the right entrepreneur. Others may want to
make $150,000 in investment banking and will always live
off fees, never hitting any home runs.”
Senior associates and analysts with MBAs may make
closer to $80,000 or $90,000. Consultants are generally
paid more coming out of an MBA program, but have less
room for growth because there are no entrepreneurial pos-
sibilities.
A graduate of UCLA’s Anderson School working in
development estimates that in his field a new MBA can
expect to earn from $75,000 to $100,000, depending on the
size of the company.
Commercial brokers begin a little differently in many
firms, initially making no income or drawing about $40,000
against future production. Often, they are sponsored by a
senior member of the firm. But within three years, a bro-
ThE CompaNIES YoU NEED To KNow aboUT 34
ker can expect to be making $125,000. According to one
broker in a leading Dallas firm, “There’s no cap; people can
make millions.”
hoURS
Hours in this field vary depending on the position and the
company.
Investment bankers may work 80 to 100 hours per week,
while commercial bankers tend to work more traditional
banking hours—typically about 50 hours per week.
Developers keep fairly regular hours, logging about 50
to 60 per week, and during critical periods, up to 100.
“My job is particularly unusual in its relatively 9-to-6-
ish lifestyle—which is one of the biggest reasons I joined,”
explains a recent grad now working in development. “Most
people in real estate—and most MBAs for that matter—work
much longer hours.”
Consultants normally work 50 to 70 hours a week,
depending on how close to deadline a project is.
The focus in this industry, however, isn’t so much on the
amount of time you work as on the quality of the job you
do, according to some insiders. Productivity, not face time,
is the measure. But more often than not, to produce you do
need to put in the hours.
TRaVEL
Some travel is involved in most positions. Commercial and
investment bankers travel the least. Consultants travel the
most, sometimes weekly.
oFFICE CULTURE
As in most industries, the dress code has relaxed in the last
five to 10 years. Dress is generally business casual, unless
there are presentations or client meetings.
The atmosphere is friendly but demanding. “People joke
around quite a bit, but there are very stressful times,” says
a recent graduate working in an investment bank. “The
energy level is kinetic,” a broker says.
Many of our interviewees described a more flexible, less
hierarchical structure than traditional banking and con-
sulting environments. But with freedom comes challenge:
“To succeed, you have to find a way to fit in and contrib-
ute, because no one is going to hold your hand,” warns one
insider. Socializing is generally very limited; business
dinners with clients may be the most social event of a
week. “Most people are married, and there is little social-
izing besides an occasional beer or lunch with people,”
one investment banking associate says. Once again, how-
ever, cultures vary by firm: One recent grad participates
in weekly basketball games with his colleagues and reports
that there’s plenty of informal socializing.
ThE CRowD
In many places, it’s still an old boys’ network. According to
one recent B-school grad now working as an analyst in a
multiservice firm: “Many firms are dying to bring in more
women and minorities, because embarrassingly, the field is
very white-male dominated. And not just white male—fra-
ternity-pledging, football-playing white male. Individuals
have to be able to work in that environment, because rela-
tionships in real estate are critical.” A highlevel insider
with a major Dallas brokerage firm agrees, noting that the
image is pretty much on target.
Companies’ efforts to diversify are starting to pay off,
though: “It is getting better,” one source says. “The old boys’
network comment is especially true of the transactional
and investment banking positions, but the other parts of
the industry are balancing out.”
Colleagues will include fellow MBAs as well as those
with assorted other graduate and undergraduate degrees—
even a handful without degrees in some smaller (especially
family-run) firms. A recent graduate working in develop-
ment reports that most of his colleagues have MBAs from
top business schools: “lots of Stanford and UCLA MBAs,
and a lot of Ivy League grads.”
GETTING IN
The industry’s efforts to shed its conservative image makes
this an ideal time for women and ethnic minorities to pur-
sue careers in real estate. Demand continues to grow for
real estate professionals familiar with a range of industry
issues, such as property and asset management, securitiza-
tion, valuation, and investment.
An MBA isn’t critical for many positions; experience is
far more important for success in real estate, and person-
ality is the main key to getting a foot in the door. About
80 percent of the hiring decision is based on personality,
warns one insider. Employers want to see ambition and
drive. Don’t seem overconfident, though; they are also
looking for someone who recognizes that there’s a lot to
learn and is willing to learn it.
Contacts are invaluable, becuase real estate can be a small
industry. Get involved in the aspect of the field you are inter-
ested in while still in school by joining appropriate clubs and
organizations: You can network and learn how to sell yourself.
One real estate professor from a prestigious MBA pro-
gram strongly urges students to use the Internet to post
resumés long before graduation.
moVING Up
You can move up quickly in this industry, but it’s not always
easy. Real estate professionals—perhaps more so than those
in other fields—need to stay current on a variety of issues
ThE CompaNIES YoU NEED To KNow aboUT 35
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INDUSTRY GUIDE
beyond business trends. Tax law changes, new highway
routes, and zoning regulations all affect properties and
their value. Top players and producers in this space know
one another in every market niche: Networking is critical,
as is membership in professional associations; self-motiva-
tion and focus are also crucial, particularly in development
and asset-management positions.
If you are going to have lasting and increasing value
in your career, says one industry recruiter, consider these
three pivotal questions:
1. What do you know about the property? Do you under-
stand how it operates?
2. Do you understand it at the investment level? One
insider warns that this is where many property managers
lose out. They understand how to operate a property, but
very few rise to the level of understanding how investors
look at the deal. They are driven by keeping it occupied but
fail to consider the actual yield.
3. What’s your level of responsibility? Firms want
somebody who’s acted as a principal: someone who’s been
responsible for negotiating contracts, making critical
investment decisions, and allocating capital. If you want to
move ahead in real estate, find the opportunity to take on
these responsibilities.
It’s not always up to you, though, warns one analyst.
Some firms don’t encourage mobility. They may be what
he calls “inherently small shops.” Since the principals don’t
want the firm to grow, no one moves up. “Other firms
are looking to grow people to their fullest potential.” His
advice? “Learn from the first kind of firm, and go work for
the second when you’re ready.”
whaT IT TaKES
Above all, you need an entrepreneurial outlook: tenacity,
fortitude, and the ability to see opportunities after others
give up.
On a more basic level, computer literacy is key. Employers
expect candidates to know the basics: spreadsheets, database
analysis, word processing, graphical analysis, geographic
information systems, etc. Perhaps even more critical are
analytic ability and quantitative aptitude.
”Some finance experience is almost a must,” says one
Wharton graduate, now an associate at a New York invest-
ment bank. “Always emphasize this to potential employers.
Forget strategy and big thinking; one needs the ability to
focus and get immersed in the details.”
But others point out that real estate is so broad that
there’s room for a variety of skills. Curiosity, persistence,
critical thinking, creative problem solving, the ability to
multitask, honesty, confidence, and good communication
skills were all mentioned.
“Both analytical and outgoing personality types can do
well and have their place. If you are both, that is even better,”
one longtime real estate insider says. “Real estate offers so
many career paths that there is room to excel based on your
own skills; the consultant and the leasing agent can both do
well—one analytical, one outgoing, both bright.”
Investment bankers, appraisers, and property managers
should have good analytical and writing skills. Brokers and
leasing agents, on the other hand, need well developed inter-
personal, negotiation, and verbal skills. Developers often need
both, as well as strong managementexpertise and a basic knowl-
edge of every facet of real estate from site selection onward.
TYpICaL DaY
“Start early, work late, answer e-mails and voice mails, fol-
low up on projects, schedule meetings, and only go out to
lunch if meeting a client,” one insider says.
That may be as close as anyone gets to describing a typi-
cal day. “There absolutely is no typical day,” a recent grad
says. “That is one thing people love about real estate. For
most positions, hours and job structure vary, and it’s impor-
tant to be able to go with the flow.”
An average day could include a number of activities,
depending on the particular field: financing a project, looking at
potential building sites, helping a client with a real estate deci-
sion, marketing a property, negotiating leases, and so forth.
The investment banking side of real estate may be a
little less varied and entail limited client contact. One asso-
ciate at Deutsche Bank says he spends much of each day
“either writing or crunching numbers.”
CaREER paTh
Pre-MBA career paths are quite divergent. Some real estate
people get their MBAs right out of college; others may be
architects or engineers or come from a family already in
the business. Some have worked in investment banking or
for a real estate firm before pursuing an MBA.
After graduation, it depends on the job. For instance,
those on the investment side start as analysts. Eventually,
many look for more entrepreneurial opportunities, perhaps
moving into the “buy side”: investment management.
Those in development may start by doing sales. Those
planning to enter brokerage may start in property manage-
ment or agency leasing. One development insider says the
path is pretty linear, with “assistant vice president” as the
starting position. “Employees who become partners gener-
ally do so with around eight years’ experience. The promise
of partnership provides a pretty big carrot; though a lot of
junior people are concerned, especially in a relatively small
company, about how much partnership expansion will
occur in the next five to 10 years.”
ThE CompaNIES YoU NEED To KNow aboUT 36
bUZZwoRDS
Modeling
FFO (funds from operations)
Conduit
Leverage
Capitalization
Mezzanine REAL ESTATE
Capital structure
Co-investment Cap Rate
pRoS & CoNS
Pros
• Opportunity (in some jobs, at least) to be exposed to all
facets of the business early in your career
• Potential for equity accumulation
• Co-investment opportunities
• In some fields, unlimited opportunities for wealth
• High-energy work environments
• Ability to work on tangible projects with considerable
civic impact
• Good long-term compensation
Cons
• Potential for very long hours
• High risk: a deal you’ve worked on for a year or more could
fall through in a second.
• Old boys’ network atmosphere
• Instability in certain sectors, such as development
mISCoNCEpTIoNS
Myth: Real estate isn’t about capital flow.
Reality: It is. “Economically speaking, one of the things
impacting the real estate industry—that will always impact
the real estate industry—is capital flow,” a recruiter says.
The most important thing to ask an employer is, “Where is
the capital coming from?”
Myth: An MBA is critical in this field.
Reality: It’s not a must. An MBA can’t hurt, but experience,
personality, and drive are far more important to success in
this business.
GREaT pERKS
Perks depend on the type of company. For instance, some
investment professionals have the opportunity to co-invest.
And one recent grad who works in hospitality development:
“We get to stay at a deep discount at any of our properties,
which tend to be in vacation-oriented locations.”
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INDUSTRY GUIDE
[mEDIa & ENTERTaINmENT]
oVERVIEw
Few industries are held in as much awe—or contempt—as
the media and entertainment (M&E) industry. Hollywood
and the media have been blamed for everything from
crime to eating disorders to the deterioration of the fam-
ily. But as much as Americans may blame the media for
society’s ills, they are still its avid consumers, devouring
news of Jennifer Aniston’s divorce or Michael Jackson’s
legal troubles as if they were close personal friends.
Those who work in the industry will find it’s often a
thrilling, if bumpy, ride. Jobs in these companies might
not have the security or the salary of more traditional
MBAtrack positions, and the volatile economics of the
industry keeps the stress level high. But the diehard media
junkies who work in this field wouldn’t have it any other
way.
JobS
Aside from the obvious—working on the business side of
a publishing house, film company, etc.—MBAs looking for
exposure to the M&E industry can choose from a variety of
positions, even without prior experience.
Consulting. For those who would like to be near the
industry but aren’t willing to sacrifice the stability of a tra-
ditional MBA job, many top consulting firms have growing
practices in M&E, including Booz Allen Hamilton and
McKinsey & Co. Increasingly these firms are being hired to
deal with cost-cutting, restructuring, and merger manage-
ment. Consulting is also a good stepping-stone for career
changers who wish to break into M&E without prior expe-
rience; MBAs can use their contacts and experience as
consultants to strike out on their own down the road.
Investment Banking. Opportunities abound in buyside
banking or asset management. For example, at a mutual
fund you may develop relationships with M&E CFOs to
try to decide whether you should buy into Time Warner
or Disney.
Agent or Money Manager. Big-name actors, musi-
cians, and directors may be good at selling records and
movie tickets—but that doesn’t mean they know how to
invest their pots of gold. Celebrities often find themselves
barraged by people who want to tell them how to handle
their finances, and many are justifiably wary of these over-
eager money managers. An MBA could provide credibility
and a competitive edge in this arena.
Business Development. Another post-B-school
possibility is to work in-house for an entertainment com-
pany, helping develop strategic alliances and partnerships.
However, these jobs can be difficult to get directly after busi-
ness school, as many of these companies hire straight out of
consulting firms’ media and entertainment practices.
maJoR pLaYERS
Although the entertainment industry is characterized by
an artsy, anti-corporate mentality, the dominant players
are huge conglomerates like Disney, Bertelsmann, Viacom,
Time Warner, Clear Channel, and NBC Universal. The
majority of these multinational companies have an inter-
est in each of the six facets of the industry: TV, film, music,
publishing, radio, and new media. (Arguably, a new cat-
egory of entertainment is emerging out of the gaming
business, as companies like Harrah’s operate properties
that offer casinos, accommodations, restaurants, shopping
,and live performances all under one roof.)
However, you can still find thousands of jobs at smaller,
independent firms. There are nimble film and television
production companies that may work with big networks and
distributors. Some publishing imprints, record labels, and
film production companies operate like independent houses,
even if they ultimately report to a larger corporation.
TRENDS
Technology has brought new challenges to the industry.
While the possibilities of the Internet continue to excite
media executives, the initial hype has died down as the top
brass search for new ways to make the Web lucrative. For
mainstream media ventures, the online challenges can be
great: Why plunk down one dollar a day for a New York
Times when you can read its Web site free after registra-
tion? Why spend $17 on a CD or video game when you
can download only the songs you really want for 99 cents
each on iTunes? Will the weblog trend peter out or will it
continue to flourish as an alternative means of news dis-
semination and analysis? What about podcasts? As the
technology grows more sophisticated, the pressure to prof-
it from it will grow in tandem.
Mergers and acquisitions. Rupert Murdoch’s News Corp.
in 2007 bought the venerable Wall Street Journal for $5.6 bil-
lion in one of the highest profile media takeovers in recent
memory. Vivendi, Seagram and Canal+ merged to form Vivendi
Universal, but their rocky marriage was not to last, later result-
ing in the formation of NBC Universal. Recently, McClatchy
agreed to purchase its rival Knight-Ridder for $6.5 billion,
forming the second largest U.S. newspaper conglomerate. This
volatility can be unnerving for employees. One television execu-
tive remarked that at every Christmas party he had a new boss.
Another industry joke: “If my boss calls, get his name.”
ThE CompaNIES YoU NEED To KNow aboUT 38
Integrated marketing. With the advent of cable tele-
vision, VCRs, and now TiVo, viewers are watching fewer
and fewer ads—opting instead to surf, fast-forward or edit
out those “important messages from our sponsors,” leaving
broadcasters under increased pressure to boost ad sales and
cut costs. This has left the field ripe for integrated market-
ing, which skips the ad and places the product right into
the TV show. Programs like The Apprentice have show-
cased this trend, with plugs for everything from Pepsi to
Norwegian Cruise Lines.
Branding. All facets of the entertainment industry are
looking for ways to extend their brand. Television shows
create magazines. Book authors create Web sites. Movies
look to video rentals, television rights, and worldwide box
office sales to turn a profit. Comics and cartoons frequently
make more money on the toys licensed from the product
than the actual product itself.
Independent Film. While most major motion pictures
continue to be made in or around Hollywood, there are an
increasing number of independent films being produced.
For MBAs, this means more opportunities to work on
movies, since the companies generally know more about
filmmaking than about independent financing. These
companies have come to value MBAs with industry rela-
tionships and experience with investing.
Downloadable Music and Video. With the continuing
popularity of Apple Computer’s iTunes Music Store and
incarnations of the iPod, not to mention upstart YouTube,
the buzz about who’s going to make money from selling
audio and video online—and the copyright issues involved—
has grown to a fever pitch.
SaLaRY
MBAs should expect to take the “entertainment industry
haircut”—that is, lower pay in exchange for the excitement
and glamour of the industry. Not that M&E executives are
struggling to make ends meet; a high-ranking vice presi-
dent in the entertainment industry can expect a salary in
the low six figures—anywhere from $100,000 to $300,000.
Fresh out of business school, you should be able to start at
$70,000 to $80,000, depending on the position.
hoURS
In general, the actual on-the-clock hours will not rival the
insane schedule required by, say, investment banks. Many
of our insiders reported relatively humane days, beginning
at 9:30 or 10 a.m. and ending at around 7 or 8 p.m. There are
crunch periods, usually at the beginning or end of the year
or around deadlines, where 12-hour days are not uncom-
mon. And the ever-shifting ownership of many companies
often yields longer hours and increased stress. The real
time-suck comes from the many after-hours events that
you have to attend if you want to move up in the indus-
try. Although many insiders say that their offices do not
believe in “mandated socializing,” this is an industry where
contacts mean power and upward mobility. If you want to
move up, you’ll be going to a lot of parties. And screenings.
And music showcases. Attending industry parties is less
strenuous than, say, digging a big ditch, but it’s still “work”
that will absorb a lot of your personal time.
TRaVEL
Although some industry executives make frequent trips
between New York and Los Angeles, positions usually do
not require heavy travel since the majority of the business
is conducted in these two cities.
oFFICE CULTURE
“Absolutely whatever” is how one record-company vice
president described her office’s dress code. She was wear-
ing red thigh-high boots at the time. Indeed, next to the
technology sector, there are few industries that take the
concept of “corporate casual” to such an extreme, and it’s
not unusual to see CEOs padding around the office in jeans
and sneakers. The aforementioned vice president said she
didn’t even own a skirt suit. Smaller offices often allow pets
to come to work.
But even if you work in an office where the creatives are
wearing flip-flops, it’s a good idea not to get too casual too
soon. It’s important to understand the special challenges
inherent in casual offices. Just because the boss is wearing
blue jeans doesn’t mean that you won’t be expected to have
a certain look. If you think you can go to work in scruffy
sneakers and a Raiders sweatshirt, think again. Casual is
not equivalent to slob, and at entertainment companies
you’ll be expected to look hip. This can be a great deal more
challenging than simply donning a $500 suit.
It’s difficult to make generalizations about such a
diverse industry; however, those who work in this field
will undoubtedly encounter a young, hip, creative work-
force, a relatively unstructured environment, and rapid
advancement opportunities for talented individuals who
know how to schmooze.
ThE CRowD
One of the great perks of working in the entertainment
industry is that you are invariably surrounded by smart,
funny, talented people. This is a business grounded in charis-
ma—and you will be valued for yours. Even support staff will
usually have a side gig: the receptionist is an opera singer, the
recruiter is an aspiring screenwriter, etc. Such moonlighting
on the part of lower-rung employees is not just tolerated, it’s
ThE CompaNIES YoU NEED To KNow aboUT
mEDIa aND ENTERTaINmENT
3
INDUSTRY GUIDE
actively supported. The general feeling is that artistic types
enhance the office culture and tend to be smarter, since these
are people who have the brains for higher-ranking positions
but have consciously chosen to keep their responsibilities
to a minimum (at least for the time being). As one execu-
tive said of her fashiondesigner assistant, “I don’t care if she
doesn’t live and breathe this stuff when she goes home, as
long as she kicks butt while she’s here.”
Most of the people you’ll run into will have at least a
bachelor’s degree, and many will have more advanced
degrees—but don’t expect them to be overly impressed
with your MBA. Despite the billions of dollars that are
at stake, this is still a very anti-corporate culture. One B-
school grad strongly advised against “throwing the MBA
around”—it won’t impress anyone, and it could put people
off. Your colleagues will also have a wide variety of employ-
ment backgrounds, such as consulting and law. And many
of your officemates will be transplants from the creative
side—former editors at publishing companies, for example.
GETTING IN
Move to New York or Los Angeles. While there are
certainly opportunities at regional newspapers and local
television affiliates, if you want to make it big in this
industry you’re going to have to move to one of the coasts.
Publishing and television tend to be concentrated on the
East Coast, while film and music are largely headquar-
tered in the West. The conventional wisdom has been
that an MBA is more valued on the East Coast, but this
is changing; Disney, for one, based in North Hollywood,
hires many business school grads.
Network. Because they have a surplus of wannabe
employees, M&E companies don’t do a ton of recruiting.
That’s why networking and developing contacts is crucial
if you want a job in this industry. Do whatever you can to
get your foot in the door—whether it‘s attending a semi-
nar taught by a media honcho, doing an internship at an
indie record label, or schmoozing with your roommate’s
girlfriend who works at Viacom. Be persistent, and have
a thick hide. “If people don’t return your calls, it’s because
they’re busy, not because they don’t like you,” one insider
says.
Show that you understand the industry. Read as
much as you can, and ask lots of questions. Background
in the industry is a plus, i.e., if you played in a band
before business school, that could help your standing
at a record company. If you’ve worked in consulting or
investment banking, showing that you’ve had a client
in the industry could also be helpful. “Name drop, but
carefully,” a new media VP advises, “and [only] as rel-
evant to the listener.”
moVING Up
“There is no typical career path in any media business, a
book publishing CEO says. “This is invigorating for those
who ‘get it,’ but daunting for those who need more struc-
ture.” The most exciting/unsettling aspect of a M&E career
is the industry’s lack of adherence to traditional protocol.
Most firms value bottom-line success over loyalty and ten-
ure. This is thrilling if you’re the receptionist who quickly
ascends to development executive; terrifying if you’re the
faithful workhorse who hasn’t been associated with a lucra-
tive project.
Most MBAs can expect to start as assistants in the
finance, marketing, or production departments, however
one industry executive says to be cautious before taking a
position as “assistant to the president,” which is typically a
one-year posting for MBAs. “You don’t get a lot of respect,
because many people will feel you haven’t earned the right
to be there. You’re frequently referred to as ‘the MBA,’ as in
‘That’s Jeff ’s MBA. That’s Susan’s MBA.’ You learn a lot, but
you don’t have good access to the people in the trenches.”
whaT IT TaKES
Passion. While there are executives on the financial end
who move up in the entertainment industry without
serious knowledge and love of their genre, they are the
exception. Overall, it’s not enough that you “like movies.”
In order to really function in this culture you need to be
as passionate about your industry as the creatives are. “You
can’t come in and fake it, because you’ll get found out, and
you won’t be respected, one insider says.
Good instincts. Although there has been a trend toward
more market testing, a movie or CD is a distinctly differ-
ent product from, say, a bar of soap. You’re selling emotional
experiences—and that’s not always something that can be
neatly quantified or laid out on a spreadsheet. To succeed in
this industry, you must be willing to rely on your instincts,
and you must have the flexibility to work with people who
think on a very creative and “gut” level.
Humility. The entertainment industry is filled with
people struggling to get into the limelight. If you deal with
big stars—or even not-so-big stars—you will likely also have
to deal with big egos. Combine that with the general dis-
trust many creatives have for “the suits,” and it’s clear that
the most successful media executive is the one who doesn’t
need to see his/her name in lights. A good sense of humor
goes a long way, too.
TYpICaL DaY
Because this is such a diverse industry, there’s no such
thing as the “average media executive’s day,” but here’s how
a few insiders described their typical day:
ThE CompaNIES YoU NEED To KNow aboUT 40
mEDIa aND ENTERTaINmENT
A television development executive: “Phone calls,
e-mail, oversee shows in production editorially, contact
various network heads, collaborate with co-workers in
coming up with show ideas/concepts. Read Variety.”
A new media executive: “One to two pitches by small
companies wanting our content and cash; one to two meet-
ings regarding the implementation of existing deals and
relationships; one hour of work on term sheet; presenta-
tions, or economic models; one hour of phone calls; lunch;
and breakfast or dinner meeting.”
Book publishing CEO: “Rise at 4 a.m. Work out. Read
papers. Morning meetings with key staff. Afternoons for
callbacks, e-mail, informal brainstorming, and reading
catch-up. Work-related dinners or functions two evenings
per week. One to two hours of reading before sleep.”
Record company vice president: “My day is filled with
meetings: meetings with my department to see what they
are working on; doing presentations to the general manag-
ers to see that they know what the numbers are; meeting
with other department heads to go over marketing budget.
And I spend a lot of time on e-mail. I’m damn good at e-
mail.”
News service summer intern: “There is no typical day.
Some days it’s creating a financial model, others it’s writing
ad copy, and other times it’s negotiating partnership deals.”
bUZZwoRDS
Reality television
Dramality
Legs
Frontlist/Backlist
Content providers
Convergence
Scaleable
One-time authoring
Green light
One-stop
Package
Risk-sharing
pRoS & CoNS
Pros
• An insider’s exposure to the culture—knowing about hot
bands, blockbuster movies, hit TV shows before they hit
the mainstream.
• Fab parties.
• Opportunity to rub elbows with celebs.
• The excitement of knowing you’re helping to shape the
culture.
• A hip, fun environment with lots of smart, creative people.
• Your job sounds cool at cocktail parties.
Cons
• The money doesn’t match many other MBA positions.
• Environment can be unstable.
• Dealing with big egos and other “challenging” personalities.
• You are constantly bombarded with distant relatives and
vague acquaintances who want you to read their screen-
play, or pitch their idea for a reality series to your boss.
mISCoNCEpTIoNS
Myth: It’s glamorous.
Reality: It comes with its fair share of glamour, but not as
much as you might expect.
GREaT pERKS
Movie screenings, backstage passes, invitations to the
Grammys, possible opportunity to say, “So I was talking to
Sharon Stone in the elevator yesterday, and she said...”
ThE CompaNIES YoU NEED To KNow aboUT 41
INDUSTRY GUIDE
[INVESTmENT maNaGEmENT]
oVERVIEw
When ordinary people have extra money in their pockets,
they may stash the cash in a savings account, put it in a
company-sponsored 401(k) plan, or dabble in the stock
market. When large corporations and wealthy individuals
are flush, they hire an investment manager. Investment
managers, also known as asset managers, are charged with
overseeing part or all of their clients’ money and investing
it according to the clients’ particular needs. Companies,
universities, foundations, wealthy families, and munici-
palities are among the institutions that entrust their
assets to an investment manager. The asset manager then
invests that money in stocks, bonds, and other financial
instruments.
Because investment managers control such large sums,
they hold a high-status position in the financial world.
They work on what is called the “buy side” of the industry,
and are continually courted by salespeople from invest-
ment banks and other financial institutions—the “sell
siders”—who attempt to persuade asset managers to invest
in their products. Investment managers are treated like cli-
ents: They call the shots about when and where meetings
take place, and are frequently treated to pricey dinners,
expensive golf outings, and choice seats at sporting events.
maJoR pLaYERS
This is a huge and extremely diverse industry, with thou-
sands of firms, fund companies, government institutions,
unions, universities, and foundations. Most business school
graduates will probably find that the quickest entrée into
this world will be through large mutual fund companies
that offer a complete (or nearly complete) roster of services
and products. Such firms include Fidelity Investments,
Janus, and Vanguard . These companies manage assets for
large corporations and wealthy individuals.
Other players include large corporations with high
levels of assets to manage, such as General Electric and
Microsoft, as well as some government organizations such
as the California Public Employees’ Retirement System
(CalPERS). Insurance companies like The Guardian Life
Insurance Company of America and New York Life also
wield considerable influence in the industry.
TRENDS
The older, wiser manager: More than most financial
industries, investment management is one that values age
and experience. But in the bull market of the ’90s, this phi-
losophy shifted a bit. “During that time, being young and
Internet-savvy was considered a good thing for, say, a tech-
nology fund. But now more than ever, funds want people
with gray hair,” one asset manager says.
New respect for professionalism. A few years ago,
conventional wisdom said that paying people to invest
your money was ridiculous, since index funds pegged to
the Dow or the S&P 500 consistently outperformed any of
the handpicked funds. Lately, however, managed funds are
getting a chance to shine again, and are garnering more
respect from investors.
A comeback for hedge funds. Hedge funds might use
daring tactics, but during the late ’90s major players in
the industry couldn’t get a grip on the technology boom
and suffered greatly. Large hedge funds like Soros and
Tiger bottomed out. Time has now vindicated the hedge
fund, and smaller boutiques are doing well, often going
overseas as well.
SaLaRY
Business school graduates can expect to receive
from $125,000 to $200,000 in salary and bonuses.
Compensation for more experienced investment man-
agers, such as portfolio managers, varies greatly but
tends to be between $200,000 and $500,000. While
working on the buy side is extremely lucrative in the
long run, some say that starting salaries at sell-side jobs
can be slightly higher, because such positions are more
plentiful. Nevertheless, if you can snag an investment
management job right out of business school you’re, in
pretty good shape.
hoURS
Office time varies depending on the culture of the firm
and the particular type of asset management you do. Our
sources reported working anywhere from 40 to 65 hours
a week. “I never work evenings, I never work weekends,”
one assistant portfolio manager says.
TRaVEL
If you’re starting out as a research analyst, you’re
probably going to spend most of your day crunch-
ing numbers at a desk. However, as you move up
the ranks, more travel may be required. While some
portfolio managers make most of their decisions from
models and research reports, many believe in doing
the legwork and pack their bags about once a month.
“You’re really not upholding your f iduciary duties
if you’re not out kicking the tires,” one investment
manager says.
ThE CompaNIES YoU NEED To KNow aboUT 42
oFFICE CULTURE
As an investment manager, you have clients whose assets
you control—but you are also a client yourself. People with
financial instruments to sell ingratiate themselves to you.
This has two main benefits: First, there are legions of
salespeople eager to shower you with expensive dinners,
sports tickets, and so on; second, you get to work in a more
relaxed environment. “We still wear suits,” an assistant
portfolio manager says. “Other than that, the atmosphere
seems very casual. Everybody from the CEO on down is on
a first-name basis.”
Some offices have a trading floor set up. “We all have
our own offices,” an asset manager says. “But unless I’m on
a phone call like this one, I’m out there. It works because
then everyone is in the information flow, and it promotes a
lot of camaraderie.”
But don’t expect this collegiality to extend too far outside
the office. While you may find some firms in New York or
Boston where colleagues gather for impromptu after-work
beers, it’s unlikely that an investment management job will
juice up your social life. Investment managers tend to be
older than other finance-industry types, so when quitting
time comes your colleagues will most likely be dashing
back to the ’burbs.
“If you’re looking for a party culture—hanging out with
other just-minted MBAs, making a lot of friends, this is not
the job for you,” one asset manager says. “We all have our
own families, so at 7:30 we’re going home,” says another.
ThE CRowD
While most of your colleagues will probably have an MBA,
their pre-business school backgrounds will be quite varied.
One institutional investor says that his colleagues have been
accountants, traders, lawyers, and commercial credit offi-
cers in their past lives. While the majority of his co-workers
have MBAs, the founder (a former engineer) does not.
At another firm, an investment manager who skipped
business school and instead got a Ph.D. in finance and
economics says his two closest colleagues are a former
accountant, who didn’t go to business school, and a guy
who worked for 10 years as a bond-ratings analyst and got
his MBA part-time.
What binds asset managers together is their penchant
for competition, and their love of money. “It’s not a touchy-
feely kind of business,” says an asset manager for a private
equity firm. “This profession attracts very mercenary,
quantitative people—pure capitalists. I don’t get my reward
by saying I found a way to sell three million laser jet print-
ers in Romania. I don’t need to feel like I run a company
of 40,000 employees. I’d rather make $5 million a year and
have no employees.”
GETTING IN
“When I decided to make a career change (leaving aca-
deme), my friend, who worked here at the time, introduced
me to his boss, who interviewed me over beers and offered
me a job the next day,” one assistant portfolio manager
recalls. We hope that your job hunt goes as smoothly as
this, but don’t be discouraged if it doesn’t: Buy-side jobs are
extremely competitive.
One problem is supply: There simply aren’t as many
jobs. “[Sell-side] jobs are plentiful. There are always people
leaving. So a lot of jobs on the sell side are easier to get, and
initially they pay more,” says a hedge fund manager who
worked on the sell side for several years before snaring his
current position.
Investment management’s proclivity for older, more
experienced employees is another reason these jobs are
so elusive for new MBAs. Most investment management
firms don’t even recruit on campus. “Most of the people
here spent several years working on Wall Street,” says an
asset manager who handles investments for one of the
country’s richest families. As far as I know, there isn’t a
single person working here who started right out of school.
The philosophy seems to be to hire people who already
know what they’re doing and can jump right in and start
making money.” If you’re completely new to the field, you’ll
probably start out as an analyst and slowly climb the ladder
as you learn the ropes.
Interviewing Tips
Still, if you’re focused on getting an asset management job,
most insiders say it’s probably attainable if you bear a few
things in mind.
• Show your love for, knowledge of, and (hopefully)
experience in investing. “The most important character-
istic to convey in interviewing for an analyst position is a
passion for investing and investment analysis.”
• Come in with five or six ideas. Be able to talk about
companies you like and why they are different. “It’s far bet-
ter to go in and say, ‘Hey have you looked at XYZ company?
Here’s what I think would work.’ That’s a very different
conversation from ‘I just graduated from business school,
and I think I’m pretty smart,’ “one industry veteran says.
• Understand each firm’s philosophy—and every firm
has a different one. For example, some focus on active trad-
ing, while others are more value-oriented. (Bigger houses
like Janus, Fidelity, or Capital have a wide range of styles,
but individual departments will have their own particular
bent.) So it’s critical that you understand what your prospec-
tive employer’s is before you walk in the door. “If a person
were to interview with me, he should know what kind of
investor I am and what kind of philosophy I have; and he
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needs to give me the impression that he shares that phi-
losophy, because I’m not going to hire someone who doesn’t
have my point of view,” one asset manager says. Prior to the
interview, do as much research as possible: check out Web
sites, magazine articles, Morningstar reports, etc. “People
get used to doing canned interviews,” he continues. “But if
you go to a value manager and start talking about growth
stocks, they will rip you apart. Actually, they won’t rip you
apart; they just won’t ask you back for another interview.”
• If you can’t get the buy-side job of your dreams,
consider starting on the sell side. “A lot of people start
on the sell side,” says an asset manager who took that route
at the beginning of his career. “Take the money. Get the
experience.”
moVING Up
The great thing about asset management is that it affords
very little bullshit room. If you make money, you move up.
If you don’t, you won’t. “My job appeals to frustrated aca-
demics because you get a ‘grade’ at the end of every day,”
one hedge fund manager says. “It’s comforting to people
that there is this objective measure.”
Most asset managers start out as research analysts.
That means you’ll be sitting at a desk, running numbers,
and writing reports. You’re making recommendations but
not calling the shots. Next, you may be asked to assist in
the managing of a portfolio or possibly manage your own
sector fund—a specialized retail fund in, say, telecommuni-
cations or health care.
“Sector funds are a good place to cut your teeth; the
stock selection isn’t as critical because there aren’t as many
options,” one investment manager says. “If your technology
sector fund is doing badly and the investor complains, you
can say, ‘Hey, technology stocks are doing poorly overall.’”
Sector funds are also a good proving ground because they
can help you find a specialty—a crucial skill, according to
one insider. “Moving up generally involves finding a niche
and establishing a position that didn’t exist before,” he says.
On the other hand, if you go to a smaller firm, there may
not be a clear hierarchy: you just get better at your job and
make more money. “We’re very flat,” a private equity firm
vice president says. “There’s no hierarchy; I don’t report to
anyone. We report to each other. I’ve been doing the same
thing since the day I got here.”
whaT IT TaKES
It’s no surprise that the overwhelming majority of invest-
ment managers have a business background. One asset
manager says: “Can a chemist go to business school and do
well in this field? Sure. But if you don’t have an inherent
interest in things financial, you won’t succeed. If you’re
not keyed up to read a 712-page credit agreement, then it
won’t work out.”
Most people in the field have MBAs, but many invest-
ment managers admit that it would be hard to find a
general theme among the best and the brightest. “A sur-
prising number of asset management firms are looking
to hire someone with a liberal arts background,” says one
investment manager, who explains that an appreciation of
history and an ability to write are essential skills in this job.
“As Warren Buffett says, you should be able to explain any
investment strategy to your great-grandmother. It’s a lot
like journalism; you need to be able to take huge numbers
and very disparate facts, and put them together to form
some sort of story. Investment managers who can only
crunch numbers can’t always do that.”
Communication skills are also essential for the deal-
making end of the job, as are basic interpersonal skills.
“You need to be able to communicate in different ways with
different kinds of people to get what you want. Your idea
could be right, but it won’t matter if you have the wrong
execution,” one asset manager says.
TYpICaL DaY
Here’s how one insider describes the day: “In the office
between 8 a.m. and 8:30 a.m. Read the Wall Street Journal,
and scan Bloomberg news to find out what’s going on in the
world. Talk to five or six sell-side people to find out what’s
going on in the bond market. Generally pretty busy ... from
about 9 a.m. to noon. Afternoon is generally slower. I spend
a lot of time reading research/strategy reports and trying
to come up with more investment/trading ideas. I probably
spend about a half-hour to an hour discussing markets/
ideas/whatever with colleagues.”
Another industry veteran puts it this way: “A third of
the day is spent reading financial documents, magazine
articles, and getting investment ideas and information to
support the ideas I’m researching. Another third is spent
working on computer modeling—creating spreadsheets
and financial models to figure out what investments are
worth. And a third of day talking on the phone to inves-
tors, doing administrative stuff.”
bUZZwoRDS
Long/short
Leverage
Active
Growth
Value
Distressed
Buy side/sell side
Gut-check
ThE CompaNIES YoU NEED To KNow aboUT 44
pRoS & CoNS
Pros
• Good pay
• Reasonable hours
• Generally not as stressful as sell side
• Objective performance measures keep politics
to a minimum
• “Never boring”
• “You can read five or six newspapers a day and that’s
considered ‘work’”
• Everyone knows when you win
Cons
• Everyone knows when you lose
• Hard to get a job right out of business school
• Starting salaries are sometimes lower than at sell
side jobs
• Minimal social interaction with colleagues outside
of work
• First few years most likely spent chained to a desk
mISCoNCEpTIoNS
Myth: Investment managers are driven by money.
Reality: “You have to want to make money to last long,
but it’s not about getting rich. The money is just another
measurement that tells you how you’re doing. It’s not about
buying a yacht.”
Myth: All investment managers are geniuses.
Reality: “Warren Buffett is a smart guy, but he’s not a
rocket scientist—and neither are we. It’s just hard work and
common sense.”
GREaT pERKS
As the buyer, you will be courted continually by salespeo-
ple who will shower you with enticements. Our insiders
say they can receive tickets to whatever sporting events
they want to attend, and are taken out to their cities’ hottest
restaurants. But even the good life has a downside: “If you
work for Fidelity you have everyone on Wall Street kissing
your ass. You can play golf on a nice course; the problem
is you have to play golf with the sales guy from Goldman
Sachs. If they would just let you play golf alone, that would
be nice, or if they got you a table at Nobu and then went
home.”
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[GoVERNmENT]
oVERVIEw
MBAs and government are not mutually exclusive any-
more: The feds are actively looking for graduates with
top-notch business skills. Although a position in, say, the
Department of Labor might have a lower starting sal-
ary than a cushy position at an investment bank, there
are plenty of perks—like three day weekends and a 9-to-5
schedule—to offset the financial discrepancy.
What can an MBA do for Uncle Sam? Plenty—including
becoming president of the United States, as Harvard B-
school alumnus George W. Bush has demonstrated, twice.
Although the federal government employs more than
1.8 million, making it the number one civilian employer
in the world, many MBAs embark on their employment
search without ever considering this vast pool of potential
positions.
In fact, the current administration has implemented
several initiatives to help the government run more like
a business. The bureaucracy-heavy, fiscally unsavvy fed-
eral behemoth is getting a makeover of sorts. Several
years ago, the administration announced the President’s
Management Agenda. The plan includes new and more
stringent financial reporting requirements and measures
to increase fiscal accountability. It also calls for overhauling
the government’s recruiting and hiring policies. More than
ever, agencies are reaching out to the best and brightest,
and the MBA community is one of their prime targets.
Each of the federal government’s more than 1,000 differ-
ent entities has its own mission, and not every agency is
an ideal place for an MBA. However, given the adminis-
tration’s push to instill a sense of business discipline in the
public sector, the skill sets of MBAs are increasingly in
demand.
maJoR pLaYERS
A prime destination for MBAs: the Department of
Defense, which employs approximately 15,000 finance
and accounting professionals. The Departments of the
Treasury, Agriculture, and Veterans Affairs, and the
Federal Reserve Board also actively seek individuals with
economics and finance backgrounds. Numerous agencies
like the Department of Labor, CIA, FBI, and Department
of State are also increasing their presence at MBA job
fairs. One student reported that several, including the
CIA, Department of Transportation, U.S. Agency for
International Development (USAID), U.S. Commercial
Service, and the U.S. Court of International Trade, all par-
ticipated in on-campus recruiting at his school.
The types of jobs available to MBAs vary greatly.
Contracting, the negotiation and management of the
government’s many procurement contracts, is a critical
area for which many MBAs are hired. Human resources
management, budget analysis, accounting, auditing, and
program management are also functions offering opportu-
nities to the B-school graduate.
TRENDS
An aging workforce. Fifty percent of the government
workforce is eligible for retirement within the next five
years. As this anticipated wave begins to take its toll, many
senior-level positions are becoming vacant more quickly
than they can be filled. The current need for leadership
inside many government agencies is tremendous.
An MBA commander-in-chief. As the first B-school
graduate in the Oval Office, President Bush has stressed
the need for government to be run more like a business.
As a result, agencies are increasingly working to institute
private-sector discipline. Each year, the government doles
out a portion of its budget to private consulting firms hired
to improve processes and leverage best practices used in
corporate America. Increasing the level of in-house busi-
ness expertise will only help in the quest to improve the
business of government.
Scandals in corporate America. The recent wave of
high-profile business scandals has prompted the govern-
ment to increase corporate oversight. This is creating new
opportunities for individuals with business training and
experience.
The President’s Management Agenda. This man-
date requires increased accountability for performance in
a number of key areas, two of which are financial perfor-
mance and the strategic management of human capital.
This bodes well for MBAs, as the government looks to
increase its efforts to hire and retain the best people.
Increased focus on workforce issues. The human
resources segment of the President’s Management Agenda
is holding feet to the fire and mandating agencies to dedi-
cate additional resources to workforce planning.
A focus on diversity. As the country’s demograph-
ics change, the profile of the typical American worker
is becoming significantly less white and less male. The
underlying mission of all government entities is to serve
the American public. In order to capitalize on this trend,
the government is actively seeking to recruit more women
and minorities. Some agencies, including the Department
of Justice, National Institutes of Health, and Department
of State, have launched formal programs that target these
ThE CompaNIES YoU NEED To KNow aboUT 46
segments of the workforce. There’s no guarantee that the
agency you are interested in will recruit at your school.
On-campus recruiting is a relatively new tool for most
government HR departments. While recruiting programs
develop, government recruiters may visit only a select
number of schools—perhaps just those in the Washington,
D.C., area.
For information about jobs at agencies that don’t show up
on your campus, consult the government’s official job web-
site, www.usajobs.gov. It provides information on available
positions as well as instructions on how to apply. In addi-
tion, visit the site of the specific agency you are interested
in. Often an agency’s site will contain information about
special internships or management-training programs.
For example, the U.S. Postal Service has a highly selective
Management Interns Program. Candidates with an MBA
or related master’s degree can apply to this two-year train-
ing program, which grooms talented individuals for future
leadership positions. The government’s official web por-
tal—www.firstgov.gov—contains an A-Z index of links to all
departments and agencies.
Depending on which agency you are applying to, the
hiring process can be quite lengthy. Most agencies, for
example, will require you to submit to a background check.
The CIA, National Security Agency (NSA), and other
agencies that deal with classified information typically
require every potential employee to obtain a security clear-
ance and submit to a polygraph test.
Competition for employment varies from one agency to
another. The CIA, FBI, and State Department can afford to
be more selective than other, less glamorous agencies. No
matter where you apply, before going in for an interview,
do the following:
• Read up on the latest political news and current events.
• Be sure that you understand the mission and goals of the
organization.
• Have a clear idea of why you want to work for that specific
agency.
• Know how the skills you bring to the table will assist the
organization in meeting its objectives.
SaLaRY
The General Schedule (GS) is the government’s
standard system for determining the salaries of its
employees. About half of all government workers fall
within its guidelines. The GS schedule consists of 15
grades, with 10 steps in each grade. Effective January
2007, a government salary can range from $16,630 (GS-
1, step 1) to $120,981 (GS-15, step 10). Following GS 15,
there are also a number of executive-level positions,
whose salaries run on the Senior Executive Service
(SES) schedule. SES positions have five levels, with
basic salaries of up to $186,600. The Bush administra-
tion has established a pay-per-performance system,
and reflects the differing SES wages. Under pay rules
newly approved by Congress, federal executives can
get $165,200 in base pay and no more than $218,700, the
vice president’s 2007 salary, as a combination of pay and
bonuses.
As an MBA, you’ll find that your government salary is
most likely lower than those of your counterparts in the
private sector. Applicants with graduate degrees, includ-
ing MBAs, are typically hired at the GS 9 to GS 11 levels,
with salaries hovering around $50,000. Not the best fit
for the aspiring multimillionaire, perhaps. Keep in mind
that President Bush makes only $400,000 a year and Vice
President Dick Cheney, $218,700—small change to many
Wall Street investment bankers. All government salary
information is publicly available and may be found on
the Internet.
Still, government employment offers many perks.
What you don’t bring home in your paycheck, you
receive in the form of vacation, paid holidays, superior
health benefits, flexible work arrangements, and other
attractive programs. Some government employers have
also started offering recruitment and relocation bonus-
es and student loan repayment incentives. Congress
allows government agencies to offer qualified employ-
ees up to $10,000 per year, or a maximum of $60,000, for
student-loan repayment.
The government also offers a retirement plan for
employees who put in 20 or more years of service. For
those born after 1970, the minimum retirement age is
57, after which eligible individuals receive an annuity
based on their length of service and highest three con-
secutive years of salary. Many government employees
retire from the public sector and take positions in pri-
vate consulting where they are very well compensated
for their valuable expertise. It’s an opportunity to make a
lot of money, essentially pulling in two salaries.
hoURS
The government is well known for its standard eight-hour
workday. Those who take advantage of flextime work nine
hours a day in exchange for alternate Fridays off. “I work 7 am
to 4 pm, and I get two three-day weekends a month,” says one
manager at the Navy. He noted that about 50 percent of the
employees in his group take advantage of the flextime benefit.
A network modeling specialist at the U.S. Postal Service says
that her team occasionally works on the weekend; however,
she said, this extra effort is appreciated rather than expected,
as it is in many private sector jobs.Many government agen-
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INDUSTRY GUIDE
cies offer employees comp time or overtime pay for working
more than the regular 40 hours a week.
Another added benefit: a predictable work schedule.
Last-minute projects don’t pop up on a Friday afternoon.
In consulting and banking jobs, employees often rear-
range personal commitments and vacation schedules to
accommodate the whims of their clients, but the govern-
ment will never keep you from taking your vacation. In the
words of a former management consultant who became a
government manager: “You aren’t penalized for taking a
long weekend to attend your brother’s wedding—and you
are not expected to bring your laptop to the ceremony.”
oFFICE CULTURE
Given the extreme variety of government jobs, the cul-
ture will differ based on the agency you are working with.
Insiders we spoke with noted the dress code in their office is
formal during the week, including ties for men. Fridays are
casual. Typically employees wear suits to meetings. Nearly
everyone we spoke to indicated that meetings accounted
for a significant portion of their workweek. An o t h e r
employee spoke of an environment where morale is high
and the overall mood is positive. She also remarked that
her fellow colleagues were generally very appreciative of
one another’s work: “As compared to the private sector, you
are more appreciated. There is also a sense that through
your work you are making a contribution. The public ser-
vice aspect is very satisfying.” How many I-bankers get to
say those words?
TRaVEL
Government employees are expected to be willing and able
to travel. Many agencies are headquartered in Washington,
D.C., but have field offices scattered throughout the coun-
try. Travel to field locations can be common depending on
your position.
Some agencies offer the opportunity for extensive
international travel. The Foreign Service, a division of the
Department of State, offers travel opportunities to nearly
every country on earth.
When traveling domestically on official government busi-
ness, you are allotted a set amount of money to cover your
meals and daily expenses. The amount varies by location.
Corporate credit cards and expense accounts are not used in
the government. This can sometimes work to your advan-
tage—you are given the money whether you spend it or not.
ThE CRowD
The federal government draws on a wide range of educa-
tional backgrounds, and most insiders say its male/female
ratio is fairly balanced. Diversity is a big focus at many
agencies. At the Foreign Service, for instance, the philoso-
phy is: “If we are the face of America to the outside world,
we should look like America on the inside.”
moVING Up
Historically, the best way to get ahead in the government
was simply to show up for work. Regardless of perfor-
mance, employees who stayed were gradually promoted.
This situation is quickly changing. Although credence is
still given to length of service, many more promotions are
becoming merit-based.
According to most sources we spoke to, people with
advanced degrees are hired at the GS-9 to GS-11 levels. In
most agencies, this is above the level at which BAs start,
but still below management level, which typically begins
at GS-13. Note: An MBA is no quick ticket to a promotion;
once you’re hired, you won’t necessarily move any faster
than your peers. Numerous employees commented on
the sizable role that politics plays in promotions. The best
advice: Perform well and learn to schmooze.
whaT IT TaKES
Those who succeed in government typically believe in the
goals of their agency. An appreciation for public service is
also very important. “You are often put in positions where
you have the power to take advantage of a situation,” one
manager at the Navy says. “You’ll earn the respect of your
superiors by exhibiting a solid moral character.”
TYpICaL DaY
Arrive at the office anywhere between 7 a.m. and 9 a.m.
(Some workers arrive earlier in an effort to avoid D.C.’s hid-
eous rush-hour traffic.) Nearly all of the insiders we spoke
to scheduled our interviews amid a multitude of meetings.
Decisions in government must be filtered up the chain of
command, and this filtering process requires a lot of meet-
ings. The day typically ends eight hours after it starts: Most
government offices turn off the lights by 6 p.m.
pRoS & CoNS
Pros
• Satisfaction of serving your country
• Opportunity to make an impact and introduce political
change
• Job security
• Excellent benefits
• Reasonable hours
Cons
• Lower pay than in private sector
• Many jobs require relocation to Washington
ThE CompaNIES YoU NEED To KNow aboUT 48
• Bureaucracy
• A lot of office politics
• Washington D.C. rush-hour traffic
bUZZwoRDS
PMA: President’s Management Agenda
RIF: Reduction in Force
OMB: Office of Management and Budget
PART: Program Assessment Rating Tool
SES: Senior Executive Service
Budget Cuts
e-Government
Procurement
Scorecards
mISCoNCEpTIoNS
Myth: Applying for a government job is a complicated and
slow-moving process.
Reality: The government has taken dramatic measures
to modernize its recruiting and hiring processes. You can
apply for jobs online. Note that agencies with strict secu-
rity clearance requirements have a longer process.
Myth: All government jobs are in Washington, D.C.
Reality: There are government jobs all over the world.
International assignments are prevalent in agencies like
the State Department, Department of Defense, USAID,and
many others. Although most agencies are headquartered
in metro Washington, they also have field offices through-
out the country.
Myth: If you take a job in the government, you’re in it
for life.
Reality: Government experience is becoming increas-
ingly valuable to corporate America. As government
oversight of business practices intensifies in the wake of
corporate scandals, many organizations will pay top dol-
lar for someone from Washington’s inside track. Many
private firms serving the public sector, including Booz
Allen Hamilton, BearingPoint, and Deloitte, actively
recruit experienced government employees to fill high-
level senior positions.
Myth: Government jobs are only for poli-sci and history
majors.
Reality:The government requires diverse skills to carry
out its many missions. The skills of an MBA are valued in
government for the same reason they are valued in corpo-
rate America. Says one Foreign Service insider: “We have
many people who studied history and public policy. We
need more people who studied business.”
GREaT pERKS
• Two-and-a-half to five weeks of vacation (depending on
length of service)
• Two weeks sick leave
• Ten paid holidays
• Flexible Work Schedules program (26 three-day week-
ends a year)
• Superior benefits including health care, life insurance,
long term care, flexible spending accounts
• Child support services, including child-care resources
• E-scholar programs offering additional education oppor-
tunities
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GoVERNmENT
4
INDUSTRY GUIDE
[FRaNChISING]
How many times have you stood in line at Dunkin’ Donuts,
salivating at the thought of a Coolatta and wondering
who’s getting rich off your obsession with frosty caffeinat-
ed drinks? Who is that someone, and exactly how rich is he
or she getting, anyway? And where do you sign up? Below,
insiders at some of the world’s top franchises spill the beans
on what it takes to be successful in their business. If you
have an entrepreneurial mind, some business experience,
a small wad of cash, and a healthy respect for established
brands, take a closer look.
oVERVIEw
By definition, a franchise is a business established or
operated under an authorization to sell or distribute a com-
pany’s goods or services in a particular area. Most people
associate franchises with food establishments like Pizza
Hut or Burger King, but many other businesses operate on
the franchise system as well, including dry cleaners, tan-
ning salons, fitness centers, and home furnishings stores.
(Note: The mere fact that a company has a gazillion loca-
tions doesn’t mean it’s up for grabs: Some, like Starbucks, do
not franchise to individuals at all.) The Franchise 500, an
annual rankings list produced by Entrepreneur magazine,
identifies the world’s top franchises based on a number of
factors including financial strength, growth rate, and size.
Topping the 2006 list were Subway, Quiznos Sub, Curves,
The UPS Store, and Jackson Hewitt Tax Service.
Who are the owners of these outlets? There’s no easy
answer. Some are people who have simply grown weary of
the corporate sector and want to take their shot at being the
boss—while protected by the built-in brand infrastructure
that comes with a franchise. Cynthia Booth left a lucra-
tive 18-year commercial banking career to become owner/
operator of five McDonald’s restaurants in the Cincinnati,
Ohio, area. “I always had the desire to own my own busi-
ness,” she says. “I conducted extensive research on various
opportunities, and McDonald’s had the most to offer me.”
Booth completed the application process and 18 months of
training while still working full-time as a senior vice presi-
dent at a bank.
Some successful franchisees have a postgraduate
degree; others have only a high school diploma. “There is
a whole gamut of people in our system,” says Jim Sullivan,
vice president of franchise and real estate development
for Friendly’s. “Restaurants are unique—some people start
working here in high school and just stay with it. It’s the
only industry I know where you can start out as a dish-
washer and end up as president of the company.”
GETTING IN
Step one of becoming a franchise owner is to do some seri-
ous homework on the company you’re interested in—and
the industry in which it operates. “Before you get involved,
go work in the industry you’re interested in,” advises Joseph
Kane, president and CEO of Cendant Corporation’s Days
Inn hotel chain. “Do you have a passion for what drives the
business? Do you know what the demands are, what the
hours are? Go work at a restaurant, a hotel, or whatever
and try it on for size.”
Typically, aspiring franchisees fill out an online appli-
cation and then interview with a franchise representative
from the company. A potential owner needs to have a cer-
tain net worth and liquid asset pool to get the business
up and running. Start-up costs vary significantly based
on numerous factors, including location, size, and type of
franchise. Much of that, however, can be financed in vari-
ous ways, such as Small Business Administration loans.
Some organizations have fairly low costs: The UPS Store,
for instance, requires a liquid-assets level of $50,000. “We
are more concerned with a person’s debt-to-asset ratio,” says
Debbie Heiser, franchise sales manager at the company.
Others demand steeper initial investments. Start-up costs
at ice-cream purveyor Cold Stone Creamery range from
$250,000 to $400,000, in addition to the security deposit
on the property’s lease. While the minimum liquid assets
are $125,000, the company won’t eliminate someone who
falls short. “We’ll usually suggest third-party financing
options,” says John Wuycheck, Cold Stone’s vice president
of franchise development. “The most enthusiastic appli-
cants will typically go out and find the investment dollars
needed to get started.”
To apply to be a franchisee for Regis Corporation, which
operates Supercuts, Cost Cutters, and Pro-Cuts hair salons,
you’ll need to have a net worth of $300,000 with $100,000
in liquid assets, says Alan Storry, the vice president of fran-
chise development. Friendly’s, on the other hand, looks
for a much bigger bank account: “Our minimum financial
requirements include a net worth of at least $1.5 million
and liquid assets of $650,000,” says Sullivan. “We look for a
sophisticated individual or group that can meet and main-
tain this level of capital throughout the process.” Friendly’s
prefers operators who have multi-unit restaurant experi-
ence. Real estate and development savvy is important, too,
since they are expected to be thoroughly familiar with local
markets. Organizations that operate multiple brands can
often offer potential franchisees a range of options depend-
ing on their experience and financial position. Dunkin
Brands, which operates Dunkin’ Donuts, Baskin Robbins,
and Togo’s, has a separate strategy for each brand, which
affects the level of financing required. “Since we have a
ThE CompaNIES YoU NEED To KNow aboUT 50
ThE CompaNIES YoU NEED To KNow aboUT 51
spectrum of options, we can look at where a potential fran-
chisee might fit into the organization,” says Lynette McKee,
vice president of franchising. “In the Dunkin’ Donuts oper-
ation, the cost of business in certain markets is very high,
so it makes sense to look for a larger financial statement.
We also look for individuals or groups who can develop five
or more stores right out of the gate. On the Baskin Robbins
side, however, the prototypes are smaller, the operation
process is easier, and the cost of entry is lower.”
maKING ThE CUT
When you fill out an application to become a franchi-
see, the company will review it and send out a Uniform
Franchise Offering Circular—required by law—that details
all the information about the opportunity. Usually, the
company will also send you a contact list of other franchi-
sees in the system. As an applicant, you can contact them
to get their perspective and inquire about P&L statements,
earnings expectations, etc. “During the awarding process,
we focus on keeping the potential franchisee 100–percent
informed,” says Cold Stone’s Wuycheck. “We look to share
the good, the bad, and the ugly, so that people know what
they are getting themselves into.” In general, a franchisor
cannot disclose specific salary or revenue information, but
will encourage interested parties to consult with existing
franchisees in the same area, who can share financials and
provide an indication of expected returns.
Companies will often place candidates in an exist
ing store location and evaluate on-the-job performance.
Successful applicants are subsequently given extensive
training. At some companies, this involves substantial
off-site classroom experience. Cold Stone, for example,
has applicants attend Cold Stone University in Arizona
to learn accounting, record keeping, policies, and proce-
dures, while McDonald’s boasts Hamburger University,
a worldwide management training center in Oakbrook,
Illinois. At Dunkin Brands, franchisees learn how to write
business plans, secure financing, and make the transition
from being a one-unit operator to a multiunit operator.
While some companies, like Friendly’s, require substan-
tial real estate knowledge in their franchisees, many have
a dedicated real estate department to identify prime loca-
tions for new stores. “We have a real estate group that will
investigate every site that we recommend, well before we
recommend it,” says The UPS Store’s Heiser. We handle all
of the demographic research to make sure a site meets our
criteria. Our franchisees don’t have to do the legwork.”
TImE CommITmENT
Different franchises require different levels of time com-
mitment and on-site presence. It can even vary by brand
within a company. “We expect most franchisees to be on
site for Baskin Robbins, but for Dunkin’ Donuts, you would
likely hire managers and an operations team to assist you.
The number of hours you work is dependent on several
factors including the number of stores you operate, their
location, the quality of your staff, and the amount of ener-
gy and commitment you choose to put into the operation.
Some franchises are more time consuming than others. At
McDonald’s we are not absentee owners,” remarks Booth,
who says she is physically present in her restaurants almost
daily.
Some companies allow franchisees to operate their
businesses while keeping their day jobs, thus enabling
them to receive a second source of income. “We feel that
its a point of differentiation for us,” says Storry of Regis
Corporation. “It’s a lot of hours, but as the business settles
in and you hire the right people, the commitment will
lessen. So we don’t require our franchisees to give up their
existing salaries.”
SUCCESS FaCToRS
Besides an entrepreneurial spirit and business acu-
men, perhaps the most important factor in this business is
the recognition that at the end of the day, you’re part of a
much larger organization. There is such a thing as being
too entrepreneurial in this industry. “You must be able to
follow the guidelines of the franchise,” says McKee. “As a
franchisee you are buying the right to use a brand owner’s
name, and the customer should not see where one starts
and the other ends.”
“Aggressive followers are the most successful in this
business. says Storry. “A true entrepreneur might find this
business challenging. Aggressive followers, on the other
hand, are good at business yet understand that they oper-
ate within franchise restrictions. They don’t try to go off on
their own and do their own thing.”
As with any business, adapting to change is very impor-
tant. “In the hospitality industry, no day is the same. So a
smart team that recognizes change in the marketplace
is the most successful,” says Days Inn’s Kane. “Suppose it
snows heavily tonight in one hotel’s area; they’ll fill up but
then down the road there will be an empty hotel because
people who made reservations there couldn’t get to the des-
tination. So that hotel will have to lower rates to get more
business in the door. Our owners have to be able to deal
with things like that.”
Once you’re successful, what next? Franchisors encour-
age their top owners to advance their position by expanding
ownership to multiple locations. “Thirty percent of our
stores are owned by multiple-center owners,” says Heiser
of The UPS Store.
FRaNChISING
INDUSTRY GUIDE
Some companies even allow franchisees to play a role in
the direction of the company. “Owner/operators often have
a seat at the leadership table and can take part in the deci-
sion making process,” says McDonald’s franchisee Booth.
“In fact, the Big Mac and the Egg McMuffin are both ideas
that came from owner/operators.”
So will a franchise be your one-way ticket to boundless
prosperity? As one insider puts it, “opening a franchise
isn’t like buying yourself a vacation.” But done right, it can
certainly buy you a substantial level of control over your
future, with a support system that most other entrepre-
neurs don’t have when launching their ventures.
REaLITY ChECK
Myth: I will operate on my own terms independent of any
authority.
Reality: As a franchisee, you are essentially promoting
the brand of another company. In this way, you do have
accountability to a corporate body, that in some cases will
impose a strict set of guidelines within which you must
operate.
Myth: As an owner, I will never work behind the counter
at my store.
Reality: Many franchise operations require an owner to
have a very hands on presence. It is important to under-
stand up front how much on-site work will be required to
be successful.
Myth: I don’t have a graduate business degree, so I won’t be
successful as a franchisee.
Reality: Most franchises do not have a minimum education
requirement. Your ambition will take you where you need
to go in this industry. That said, be sure to take advantage
of the training programs that franchisors offer, especially
in areas like accounting and operations.
Myth: Once I hire and train a good manager and employ-
ees, I can pretty much let them run the show.
Reality: This is a business; even when you’ve dotted all the
i’s, there is always something else to think about. One ice
cream concept franchise owner notes that his biggest issue
is making sure his employees don’t put too much ice cream
in each scoop. Customers walk away happy, but the more
product goes out the door, the sooner supply runs short and
he loses money.
ThE CompaNIES YoU NEED To KNow aboUT 52
ThE CompaNIES YoU NEED To KNow aboUT 53
[GamING]
oVERVIEw
It’s no longer just about gambling. Sure, gaming compa-
nies still draw hefty revenues from their slot machines,
roulette wheels, and blackjack tables, but the industry has
changed—and broadened—its appeal. The razzle-dazzle
building projects that revitalized the Las Vegas strip in the
mid-’90s weren’t simply casinos with hotels attached; they
were resorts and entertainment centers, with as much
emphasis on lavish spas, haute cuisine, showbiz extrava-
ganzas, and sporting facilities as on games of chance. The
growth spurt transformed Vegas from a gambler’s haunt
to a family-friendly vacation destination. The industry
also grew geographically, putting down stakes in locations
across the country, far beyond the state lines of Nevada.
And a series of mergers and acquisitions consolidated
industry power in a handful of mega-players.
TRENDS
The Expanding Adult Playground. A generation ago,
gambling in the U.S. meant one place: Las Vegas. Vegas is
still the number-one gambling destination, playing host to
over 36.7 million visitors annually, but Atlantic City is right
on its tail, with 2006 revenues of $5.2 billion. Today, every
state but Utah and Hawaii have legalized gaming—many
of them licking their lips over tax revenues in Nevada and
New Jersey. Chicagoland, Tunica/Lula MI, and Detroit
all boast gaming activity in excess of $1 billion. And the
Indian Gaming Regulatory Act of 1988, which recognized
the right of tribes in the United States to establish gaming
facilities on their reservations, has resulted in 228 tribes
operating 423 casinos in 28 states.
Growth Spurt. 2005’s $7.9 billion merger of MGM
Mirage and Mandalay Resort Group created an entity that
controls nearly half of Vegas’s gaming space. A few months
later, Harrah’s topped that by swallowing up Caesars
Entertainment to the tune of $9.4 billion, and creating a
worldwide entity with 100,000 employees. (MGM Mirage
may own Vegas, but its 20 properties pale in comparison to
Harrah’s 48 domestic, international, and floating casinos.)
The industry’s growth can be attributed less to gambling
than to everything that comes with it: hotels, nightclubs,
and restaurants. Traditionally a mecca for all-you-can-eat
steam table grub, Vegas has now brought in the world’s
best chefs to create restaurants at a culinary level—and
price—that matches the haute cuisine destinations of New
York and L.A. Sporting facilities also form a huge part of
the industry’s new identity; MGM’s Primm Valley Resort
and Casino, for instance, is the site of one of the country’s
best golf courses. And when Harrah’s acquired Caesars
Palace, it picked up the Forum Shops—currently the most
profitable retail space in the world. Needless to say, as the
industry broadens its entertainment scope, the range of job
opportunities continues to grow.
The Numbers Game. The higher stakes in the gaming
industry require increasingly sophisticated strategies for
marketing to consumers. Casinos are adopting elaborate
customer loyalty programs, yielding reams of consumer
data that makes the business much more analytical. This
is turn is creating a need for a new breed of employee.
Harrah’s, for instance, operates robust database market-
ing and customer relationship management programs,
both of which are numbers intensive and well suited to the
MBA mindset. In the words of Russell Jolivet, director of
diversity recruiting at Harrah’s Entertainment: “We have
a top-notch marketing program, and we need top-notch
employees to run it.”
GETTING hIRED
Gaming companies have gotten aggressive in their business
school recruiting efforts, and many have set up summer
internships for MBAs. For instance, Harrah’s Entertainment
has instituted a 10-week President’s Associate Intern
Program for first-year MBA students. Jolivet says Harrah’s
hired 20 MBAs in 2004-2005; in 2006 that number tripled to
60—many of them direct from B-schools, not corporations.
Gaming companies still cast their lines into other
industries, looking to land experienced talent from other
business sectors. The reasoning: These candidates have
already benefited from the training offered by their pre-
vious employers. “We look for people who come from
companies with rigorous development programs,” says
Jolivet. “Individuals who have demonstrated success at top
companies have great potential to succeed with us.” Jolivet
cites Procter & Gamble and American Express as prime
targets: Both companies have strong marketing programs.
Harrah’s also looks for talent in the retail sector:
Merchandising experience prepares people for the compa-
ny’s slot operations group, which seeks to maximize returns
from limited floor space, just as drug and grocery stores do.
And now that loyalty cards are a big part of casino market-
ing strategies, retail veterans who’ve learned to analyze the
data they produce have become valuable assets.
In addition, the Venetian Hotel Resort Casino launched its
Leadership Development Program last fall, which is aimed
largely at MBAs as well as undergraduates majoring in hotel
management. Similarly, MGM Mirage has developed a pro-
gram that places individuals in management-level positions
after an intensive six-month training period.
GamING
INDUSTRY GUIDE
ThE INSIDE TRaCK
MBAs have a wide range of options available once they
enter the gaming industry. At Venetian’s Leadership
Development Program, new hires learn the ropes of the
business by rotating, in twoto three-month intervals,
through each of the company’s divisions—including casino
operations, marketing, food and beverage, hotel operations,
and sales and revenue management. “It’s our ‘finishing
school,’” says Venetian’s Bob Gerst, vice president of human
resources. “Unlike other programs where participants sim-
ply shadow more senior employees, in our program we
give them real responsibilities and deliverables so they get
meaningful work experience. At the conclusion of the two
years, many go on to become directors and vice presidents
in the organization.”
MBAs hired into Harrah’s President’s Associate Program
are likely to land in one of four main areas. The general
management track grooms people to run one of the compa-
ny’s casinos. Rotating them through the various functional
areas that feed into casino operations, the program trains
associates in a wide range of skills needed to manage a
property from top to bottom. Harrah’s also hires MBAs for
its planning and analysis and marketing tracks. The fourth
area, less traditional, but undeniably crucial to the busi-
ness, is slot operations, which is responsible or 80 percent
of the company’s revenues. Further opportunities lie in the
areas of retail, entertainment, restaurant, and hospitality.
“If you need a change, there is always somewhere to go in
this business,” Jolivet says.
SaLaRY
Recent MBAs entering the business can expect to earn
a base salary somewhere around $90,000. Performance
bonuses can range from 5 to 30 percent of base salary. These
aren’t investment-banking figures, but for many MBAs, the
gaming industry offers enticements other than bottom-
line goodies. In the words of Craig Abrahams, a Harvard
MBA who accepted a job at Harrah’s, “It’s not going to pay
what banking does, but you get a much more interesting,
broader skill set and experience.” Another consideration:
Gaming companies demonstrate a greater commitment
to work-life balance than institutions on Wall Street. One
fact of life, though: Be prepared to work at any time of the
day or night. “If you are director of hospitality and you have
3,200 guests checking into your hotel this weekend,” says
Gerst, “you had better expect to be working.”
QUEST FoR DIVERSITY
The casinos attract customers across the ethnic and racial
spectrum. Small wonder that they’re making an effort to
foster diversity on staff as well. “Hospitality is about mak-
ing people feel welcome,” says David Ayala, recruitment
manager at MGM Mirage. “We want all of our guests to feel
welcome, and that requires us to have a staff that mirrors
our customers.”
ThE hoURS
It seems New York has a competitor for the title of “the
city that never sleeps.” Casinos are a 24/7 operation, and
nowhere is this truer than in Las Vegas, where late-
night clubs and all-night restaurants have emerged to
accompany the all-night gambling. How does this affect
employees? Ayala maintains that work schedules remain
reasonable. “Each year, MGM Mirage surveys all compa-
ny employees to gauge their satisfaction with the work
environment,” he says. “The results consistently indi-
cate that both employees and the company really value
work-life balance.”
moVING Up
For the most part, gaming industry jobs don’t require a lot
of travel. Most positions will keep you in place at a compa-
ny’s Vegas headquarters, or at one of the individual casinos.
But moving to the next career level may mean relocation, if
an opportunity opens up in one of the company’s far-flung
properties. “It would be silly to move just within a loca-
tion,” says Sarah Cranston, a UCLA Anderson School of
Management MBA who now works as executive associate
to the COO and CFO at Harrah’s. “If there’s a chance to be
general manager in Chicago, heck, yeah, bring it!”
Skilled managers might find themselves moving up the
ladder more quickly in gaming than in other industries. As
the casinos continue to expand, they increasingly demand
good leadership; people who have proven their competence
can have an impact on the organization. Says MGM’s Ayala:
“If you work hard, and work smart, opportunities will pres-
ent themselves.”
STaR QUaLITIES
Regardless of where recruiters may find you, they’ll be
looking for a few key attributes. Ace your interview by
communicating these qualities:
• Solid quantitative and analytical skills
• Leadership
• The ability to be a team player
• Relevant work experience in key industries, such as retail,
financial services, and hospitality
• Multitasking skills
• Flexibility—both in terms of your work schedule and will-
ingness to relocate
• Most important: An affinity toward customer service.
“We don’t make a widget; we make an exceptional guest
ThE CompaNIES YoU NEED To KNow aboUT 54
ThE CompaNIES YoU NEED To KNow aboUT 55
GamING
experience,” Gerst says. “All it takes is one bad staff mem-
ber to create one very unhappy guest.”
mYTh VS. REaLITY
Myth: Casinos are just fun places to work with no real pro-
fessional job offerings.
Reality: The gaming industry requires a wide range of
business skills for its many job opportunities.
Myth: I have to move to Las Vegas to work in the gaming
business.
Reality: Harrah’s currently operates 56 properties in
the U.S. alone, and is expanding its presence in Europe,
Asia, and the Caribbean. Less than half of the company’s
employees are based in Vegas. MGM Mirage, through its
subsidiaries, owns and/or operates 19 casino properties on
two continents.
Myth: Gaming is a male-dominated business.
Reality: Gaming is no boys’ club. Harrah’s, for instance,
makes half of its MBA offers to women.
A to Z COMPANY PROFILES
thE COMPANIES YOu NEEd tO KNOw AbOut 56
[A]
ACCENtuRE
Jungle Profile
uRL
www.accenture.com
hEAdQuARtERS
New York, NY
PhONE
441-296-8262
MANAGEMENt
William D. Green, Chairman and CEO
dESCRIPtION
Accenture is the world ’s largest management and technology
consulting firm, offering business and technology consulting
services across 18 industry groups. Accenture services areas
such as enterprise integration, human resources, strategic
planning, and supply-chain management.
AMERICAN AIRLINES
Jungle Profile
uRL
www.aa.com
hEAd QuARtERS
Ft. Worth, TX
PhONE
817-963-1234
MANAGEMENt/OFFICERS
Gerard J. Arpey , Chairman, President & CEO
dESCRIPtION
American’s Passenger division is the largest scheduled pas-
senger airline in the world. American provides scheduled
jet service to destinations throughout North America, the
Caribbean, Latin America, Europe and the Pacific, serving
172 cities with a fleet of 840 aircraft.
AStRAZENECA
PhARMACEutICALS
Jungle Profile
uRL
www.astrazeneca-us.com
hEAdQuARtERS
Wilmington, DE
PhONE
302-886-3000
MANAGEMENt
Tony Zook, President and CEO
dESCRIPtION
AstraZeneca is the fifth-largest drug company in the
United States. Its pharmaceutical treatments focus on car-
diovascular, gastrointestinal, neuroscience, oncology, and
respiratory areas.
[b]
bAIN & COMPANY
Company Profile
uRL
www.bain.com
AddRESS
131 Dartmouth St
Boston, MA 02116
PhONE
617-572-2000
FAx
617-572-2427
INduStRY
Consulting
Strategic/Mgmt Consulting
IT Consulting
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thE COMPANIES YOu NEEd tO KNOw AbOut
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57
MESSAGE tO MbA CANdIdAtES
Joining Bain & Company presents an unparalleled expe-
rience. You’ll become part of a culture of intelligence,
integrity, ambition and high energy, and you’ll get the
chance to make a difference. Along the way, you’ll also
learn how to help make companies more valuable.
We offer accelerated learning—you’ll be able to gain
exposure to a diverse set of experiences and be empowered
to take on as much as you can handle.
Our flexible and enriching environment will allow you to
pursue your passions and proactively shape your own career.
At Bain, you will find a unique, results-focused culture
and passionate people who are as dedicated to making an
impact outside of work as they are inside. And our power-
ful, diverse alumni network will serve you in whatever you
decide to do at or after Bain.
dESCRIPtION OF hIRING PROCESS
Bain recruits at a variety of undergraduate and graduate
schools both in the U.S. and internationally. Undergraduates
join Bain as Associate Consultants while MBA graduates,
PhDs, and other candidates with advanced degrees join
Bain as Consultants.
Bain also recruits directly from the industry, seeking
professionals with rigorous, relevant experience. As new
Bain employees, experienced hires have the same training,
promotion and work opportunities available to any of our
professional staff.
Bain’s interview process involves a combination of case,
experience or combined case/experience interviews. We value
the case interview process as a means for us to get to know
each other better. It is a chance for you to show us how you
think through a real business problem and for us to give you
an example of the kinds of work we see everyday. For this rea-
son, our interviewers prepare their interviews based on real
cases and tend not to rely on brainteasers or theoretical prob-
lems. You’ll be expected to walk the interviewer through the
key issues and propose a practical solution.
In addition to the case interview, you may have an
experience interview in which the interviewer will use
traditional resume questions, a mini-case based on your
experience and/or behavioral questions to understand your
past experience and gain an understanding of your inter-
est in Bain. The behavioral questions ask you to describe
your actions in a past experience in the context of a critical
consultant skill.
hOw tO APPLY
Bain actively recruits at a number of colleges and universi-
ties around the globe. Before you apply, please review your
college/university pages on our website (www.bain.com/
join) to see if your school has a specific application process.
If your school does not appear or does not have a speci-
fied application process, please apply using our online
application: www.bain.com/apply.
ON-CAMPuS EvENtS CALENdAR
www.bain.com/join
GENERAL INtERvIEw AdvICE
The most important interview advice is to relax and be
you. Bain’s interview process involves a combination of case
interviews and experience interviews. For your interview,
you may have separate case and experience interviews or a
combined case/experience interview.
A good case interview should be an enjoyable and
thoughtful discussion of business issues and problem-solv-
ing techniques. We are not looking for a “right answer” or
asking you to regurgitate memorized business terms, cur-
rent events or well-known frameworks. Rather, we hope
to see a good dose of problem-solving skills, creativity and
common sense.
At Bain, we look for recommendations that are actions
designed to generate results, not merely academic answers.
A good interview will be fun and full of energy!
whAt wE LOOK FOR
We look for candidates who exhibit a high degree of enthu-
siasm and motivation for learning and solving difficult
business issues; additionally, success at Bain requires an
exceptional combination of abilities:
• Structured logical thinking, sound business judgment,
analytical mindset, creative thinking, and a dedication to
achieving results
• Client and team people who are passionate and driven,
natural leaders, team players, articulate, down-to-earth,
and have a strong interest in Bain.
COMMON INtERvIEw QuEStIONS
There are no common interview questions. We use case
interviews in all of our interview rounds. Cases reflect real
business problems. Case interviews last anywhere from
30 to 45 minutes. You can also expect some experience
questions that investigate your prior work, team and/or
leadership experiences, as well as your interest in Bain.
MESSAGE tO INtERNAtIONAL StudENtS
Bain is a global company, with 37 offices in 24 countries.
We encourage students from all countries to apply. We also
offer temporary and permanent transfer opportunities
within our global network. Consultants in all of our offices
worldwide should be proficient in English, since many of
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our clients work with us on a global basis.
Hire non-US citizens: Yes
Sponsor for H-1B visas: Yes
MESSAGE tO wOMEN/MINORItIES
Bain is an Equal Opportunity Employer and strongly
encourages all individuals to apply for all positions.
At Bain, we’ve found that the best solution to a complex
problem often comes from a different perspective or a fresh
point of view. Excellence is achieved through diversity,
which is why we want people from diverse backgrounds on
our teams. People join Bain with various personal and pro-
fessional experiences and passions—from classically trained
musicians to Olympic athletes. We strive to recruit people
with exceptional talent and ability, regardless of their dif-
ferences, to develop and train, giving them the opportunity
to be the best they can be. We’re committed to making Bain
a place where all people have the chance to succeed.
We actively support minorities at Bain with both for-
mal and informal groups like Women at Bain, Blacks at
Bain (BABs) and the Bain Gay and Lesbian Association for
Diversity (BGLAD).
OvERvIEw OF OuR COMPANY
Bain & Company, Inc. has grown to be one of the world’s
leading business consulting firms because we always
deliver for our clients. Our business is helping to make
companies more valuable. We work with senior execu-
tive teams to convert opportunity into action, and
action into economic performance. Bain clients histori-
cally have outperformed the stock market by 4:1. We
can claim these results only because of the quality of
our people. Our management team represents a con-
temporary perspective that values passion, diversity,
intelligence and flexibility.
In all, we are 3,700 individuals from varied backgrounds
working in 37 offices in 24 countries. Collectively, we
have served more than 3,600 clients from every sector in
every region of the world. The range of our experience,
the caliber of our clients, and the innovative, practical
approach we take provide unparalleled opportunity for
our employees.
CORPORAtE MISSION ANd/OR StRAtEGY
At Bain, we define ourselves as being in the results busi-
ness. Founded in 1973 on the principle that clients should
get results—not just reports—from their consultants, Bain
has helped industry leaders, emerging businesses, and
private equity firms build ongoing value. Our passion for
achieving results for our clients continues to drive our
firm. We worry less about how well a given presentation
goes, than about long-term client change and impact.
We focus on full potential improvements, not incre-
mental change. We emphasize practical recommendations
and how to make them happen. We celebrate impact, not
intellectual elegance or activity. We operate with a sense of
urgency.
We work with companies to beat their competitors and
generate substantial, lasting financial impact. We are so
passionate about our clients’ success that, where appropri-
ate, we will take equity in lieu of fees. In other words, we
prosper only if our clients prosper.
Our obsessive focus on results is apparent not only in
how we run our client engagements but also in how we
evaluate ourselves as a firm and individual professionals.
We measure our success by our clients’ results.
Accomplishing our mission requires that we navigate
with a sense of “True North.” True North is our focus
on client results - even when it means recommend-
ing actions that senior management might not want to
hear.
True North is a navigational point on a gyro compass—
an unchanging point of reference and grounding, despite
shifting conditions and turbulent environments. An ordi-
nary compass finds magnetic North easily, but is unreliable
because Magnetic North changes with time and location.
True North never wavers.
COMPANY hIStORY
Bill Bain founded Bain & Company in 1973. The firm’s first
office was in Bill Bain’s Beacon Hill apartment in Boston.
After its humble beginnings, the company soon outgrew
its space and moved to Lewis Wharf, an old dock ware-
house. Under Bill Bain’s guidance, the firm continued
to expand and quickly created branches in Boston, San
Francisco, London, Munich, Paris, and Milan.
Today Bain has 3,700 employees serving clients through
an impressive network of 37 offices across 24 countries.
hOw/whY wE ARE dIFFERENt
Bain delivers real, tangible results to our clients. We were
founded upon a relentless focus to deliver results. We work
with a select group of change-oriented leaders who are not
satisfied with the status quo. Our unique approach enables
us to secure sustainable, long-term results.
We also offer an unparalleled learning experience where
the diversity and pace of learning is truly unique. Bain
trains consultants to make companies more valuable.
• Learn how to make an actual impact.
• Gain exposure to a diversity of industries, types of clients
and capabilities.
• Collaborate with clients and acquire hands-on experience
58
with numerous business problems.
• Take on as much as you can handle to maximize your
learning experience.
• Develop a unique and transferable skill set to help you
achieve your career goals.
Bain is a great place to work. Our people are talented,
eager and driven, but also down to earth, friendly, and
approachable. Our teams are supportive and collabora-
tive. We enjoy working together, but also value our diverse
interests outside of work.

dESCRIPtION OF GLObAL PRESENCE
Bain has 37 offices in 24 countries across 6 continents. Bain
is truly a global firm with more than 50 percent of revenue
coming from outside North America. In the last 18 months,
we have opened six offices. We are continuing to build the
scope and scale we need to help our global clients achieve
results.

hOME OFFICE LOCAtION
Boston, MA

MANAGEMENt/OFFICERS
Orit Gadiesh, Chairman of the Board
Steve Ellis, Worldwide Managing Director
CLIENtS/INduStRIES SERvEd
Bain’s primary capability areas include the following:
• Change Management
• Corporate Strategy
• Cost & Supply Chain Management
• Customer Strategy & Marketing
• Growth Strategy
• Information Technology
• Mergers & Acquisitions
• Organization
• Performance Improvement
• Private Equity

Industries we serve include:
• Automotive
• Consumer Products
• Energy & Utilities
• Financial Services
• Healthcare
• Industrial Products
• Media
• Mining
• Nonprofit & Public Sector
• Retail
• Services
• Technology
• Telecommunications
• Transportation Services

FOuNdING PRINCIPLES
Founded in 1973 on the principle that clients should get
results – not just reports – from their consultants, Bain has
helped industry leaders, emerging businesses, and private
equity firms build ongoing value.

dESCRIPtION OF OFFICE CuLtuRE
At the heart of Bain culture is our relentless focus on
results. We strive to make a difference in everything we
do. While our people hold common goals, individuals
drive the richness of our culture. The best way to fit in is
to be yourself.
Our culture is strong and cohesive because consultants
spend more time working from their Bain offices. We only
travel to the client when it is necessary.
Bain’s enriching environment encourages people to
achieve their best. And make a lasting impact. It provides
the flexibility to pursue your passions and shape your
career while at Bain. Our culture is one of opportunity.
We like working with each other, but we also value
work-life balance. We develop deep, enduring relationships
with each other and our clients.
And we promise to have fun along the way.
AbOut OuR PEOPLE
Our people are our strongest asset. Bain is comprised
of individuals with unique backgrounds and interests.
Bain people work in 37 offices in 24 countries around
the world. Bain is truly a global firm with more than
50 percent of revenue coming from outside North
America.
At Bain, we select people with intelligence, integrity,
passion and the ambition to make a difference. Bain peo-
ple share common attributes that help drive our unique
culture.
• We are passionate and impatient, pushing ourselves to
make things happen.
• We are down to earth, friendly and approachable.
• We are highly competitive for our clients, but very sup-
portive with each other.
• We like working with each other.
• We also value our diverse interests outside of work.
• We enjoy what we do and we laugh a lot
If you join Bain, you’ll be a part of high–energy case
teams made up of individuals who are passionate about
their work and committed to delivering tangible results
for their clients.
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AwARdS wON
Bain has received global recognition as a great place to work.
Here are a few recent examples of Bain’s 3rd party recognition:
• Bain ranked No. 1 in Consulting magazine’s “The 10 Best
Firms to Work For” again for 2007; Bain ranked No. 1 in
2003, 2004, 2006, and 2007 (Note: the publication did not
rank firms overall in 2005.)
• Bain ranked No. 1 in several categories in Vault’s “2008
European Consulting Firm Rankings”: No. 1 best firms
to work for, No. 1 best in overall satisfaction, No. 1 best in
firm culture, No. 1 best in relationship with supervisors,
No. 1 best in formal training, No. 1 best in work/life bal-
ance, No. 1 best in overall diversity, No. 1 best in diversity:
women; No. 1 best in diversity: GLBT.
• Business Week named Bain as one of the “Best Places to
Launch a Career.”
• Fortune recognized Bain as one of the “100 Best Companies
to Work For.”
• Financial Times ranked Bain No. 1 place to work in the
UK (2006).
• Best Place to Work Institute recognized Bain No. 1 place to
work in France (2005, 2006), Belgium (2006), Spain (2005);
Capital recognized Bain No. 1 in Germany.
• Boss magazine and Hewitt Quarterly ranked Bain “Best
Employers - Australia & New Zealand” (2005-7).
LINK tO EMPLOYEE PROFILES
www.bain.com/join
LINK tO RECENt NEwS
www.bain.com
FuLL-tIME POSItIONS
Bain offers full–time consultant positions to students graduat-
ing from business school, other graduate and PhD programs,
as well as experienced industry hires. Full time associate con-
sultant positions are available to undergraduates.

SuMMER POSItIONS (INtERNS)
Each Bain office has its own requirements for internship
candidates. Typically, only students between their third and
fourth year of college/university study and first–year MBA
students are considered for summer intern positions. MBA
students apply for Summer Associate internships, and col-
lege/university students apply for Associate Consultant
internships. Usually, the recruiting season for interns is in
the winter and early spring (beginning of second semes-
ter or session for Consultant candidates and mid-semester
or late third quarter for Associate Consultant candidates).
Internship interviews follow the same process as full-time
hire candidates with two rounds of interviews.
COMMON u.S. hIRING LOCAtIONS
CA, GA, IL, MA, NY, TX
COMMON INtERNAtIONAL hIRING LOCAtIONS
Australia, Belgium, Brazil, Canada, China, Finland, France,
Germany, Hong Kong, India, Italy, Japan, Korea South,
Mexico, Netherlands, Russia, Singapore, South Africa,
Spain, Sweden, Switzerland, UK, Ukraine, United Arab
Emirates, USA
dESCRIPtION OF tYPICAL PROjECt
Projects vary widely by industry, functional area, life
stage of the company and geography of our clients. Select
examples of representative client engagements include the
following:
Consumer Products: A frozen food company had lost
its edge. Stiff competition was eroding market share of
its formerly profitable product lines. Bain was asked to
help restore the company’s financial health and market
share. Bain conducted a detailed analysis of the company’s
portfolio of products, including market situation of each
product, level of advertising and promotional spending,
and category financial performance. Bain recommended
repositioning the company as the producer of high-end,
higher margin ice cream products. To anchor this strategy,
additional advertising resources were suggested.
Results: By implementing this strategy, the company
reversed its market share decline and generated a signifi-
cant $200 million increase in net present value.
Technology: A leading computer manufacturer was in
decline and needed advice to stay on top of the industry.
Its stock price had plummeted by 50 percent in 12 months,
and competitors were challenging its market dominance.
Bain was asked to develop a strategy to stop the financial
meltdown and restore the company to high growth. Bain
recommended a hybrid strategy to acquire top corporate
accounts and restore profitability through cost reduction.
Results: Since Bain’s involvement, net income for the
company is up 30X, and share price is up more than 50X.
Financial Services: A financial services company need-
ed to improve the quality of its sales force to successfully
expand its product line and increase its assets under man-
agement. The client’s sales force had serious problems,
and performance of new representatives was well below
competitors’. Bain was asked to help optimize regional
management practices for employee recruiting, training
and retention. The Bain team conducted an internal and
external review of best practices to maximize the value of
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each sales recruit. Adopting chosen best practices allowed
fewer people to be hired, but created a more valuable class
of sales recruits.
Results: By achieving best demonstrated practices in all
regional offices, the company more than doubled the net
present value of its sales force, resulting in assets under
management to be 50 percent higher than forecasted.
These successes lead to significant stock price growth.

PROFESSIONAL CAREER PAth
Our flexible culture allows you to pursue your passions and
shape your own career while at Bain. You’ll receive the nec-
essary support to tailor your career path through ongoing
training, mentoring, and feedback.
MBA graduates and most other candidates with advanced
degrees who have rigorous, relevant business and analyti-
cal experience join Bain as consultants. Consultants begin
to manage teams at approximately the two-year point. The
typical timeframe for promotion from consultant to man-
ager is two and a half to three and a half years. The road
to partner from manager takes approximately three to five
years, depending on performance.
Associate consultants (ACs) generally join Bain directly
after graduating college or university with a Bachelor of
Arts, or similar degree. Senior associate consultants (SACs)
are often outstanding associate consultants who are promot-
ed after about two years as an AC. The path to consultant
from AC is approximately three to four years, with many
individuals spending additional time in business school.
Bain offers employees full and, in some circumstances,
part-time employment opportunities.

bENEFItS SuMMARY
Bain makes available to its employees (and any eligible
dependents) participation in many attractive benefit plans
including medical, dental, long-term disability, life, and
business travel accident insurance. Employees may also
participate in a 401k program with a company sponsored
contribution.
bANK OF AMERICA
Company Profile
uRL
www.bankofamerica.com
tICKER
BAC
AddRESS
100 North Tryon Street
Charlotte, NC 28255
PhONE
704-386-7263
MESSAGE tO MbA CANdIdAtES
In return for your talent, we offer outstanding career
opportunities and advancement and we promote a healthy
work/life balance through special benefits and programs.
Bank of America is proud to be a leader in supporting
diversity and has been widely recognized for its progressive
workplace practices and initiatives to promote inclusion.
Currently ranked as one of Universum Communications’
“Top Ten Ideal MBA Employers”, Bank of America strives
to empower all associates to excel on the job and to reach
their full potential, and we reward and recognize associates
based on performance and results.
dESCRIPtION OF hIRING PROCESS
Bank of America’s hiring process includes a series of prac-
tices in an effort to get to know you, your skills and your
interests. We incorporate behavioral-based interview ques-
tions to give you an opportunity to provide real-life examples
of your experiences. During this time, we focus on looking
for core competencies that are essential for success in your
chosen area of interest. This information sharing comes
through a variety of events such as resume and phone
screening, first-round interviews and on-site interviews.
hOw tO APPLY
Please visit our careers sites, www.bankofamerica.com/col-
legerecruiting to view jobs and apply online.
MESSAGE tO wOMEN/MINORItIES
We are proud of Bank of America’s legacy as a leader in
corporate diversity and in equal employment opportunity.
At Bank of America, we work to foster an inclusive cor-
porate culture and an environment free of discrimination
or harassment. Our inclusive culture has been recognized
by several magazines including; Fortune, Working Mother
and Latina Style.
As further evidence of its commitment to diversity
and inclusion, Bank of America hosts a number of affinity
groups, diversity business councils and diversity networks.
OvERvIEw OF OuR COMPANY
Bank of America is one of the world’s largest financial
institutions, serving individual consumers, small and mid-
dle market businesses and large corporations with a full
range of banking, investing, asset management and other
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financial and risk-management products and services. The
company provides unmatched convenience in the United
States, serving 57 million consumer relationships with
more than 5,700 retail banking offices, more than 17,000
ATMs and award-winning online banking with more than
22 million active users. Bank of America is the No. 1 overall
Small Business Administration (SBA) lender in the United
States and the No. 1 SBA lender to minority-owned small
businesses. The company serves clients in 175 countries
and has relationships with 98 percent of the U.S. Fortune
500 companies and 85 percent of the Global Fortune 500.
Bank of America Corporation stock (NYSE: BAC) is listed
on the New York Stock Exchange.
COMPANY hIStORY
Many legacy companies, some dating back as far as the
1700s, are part of Bank of America’s long history which is
marked by significant achievement, vision, and ingenuity.
Our achievements include the financing of thousands of
movies, including “It’s a Wonderful Life” and “Gone with
the Wind,” and financing construction of San Francisco’s
Golden Gate Bridge. Later we established the first nation-
ally accepted credit card and the first nationwide ATM
network. In 2004, Bank of America pledged an unprec-
edented $750 billion over a ten-year period for community
development lending and investment.
MANAGEMENt/OFFICERS
Ken Lewis, Chairman, Chief Executive Officer and President
dESCRIPtION OF OFFICE CuLtuRE
At Bank of America, we respect and value not only differ-
ences related to race, gender, ethnicity, disability and sexual
orientation, but also diversity of viewpoint, experience, tal-
ents and ideas. We strive to empower all associates to excel
on the job and reach their full potentials, and reward and
recognize associates based on performance and results.
Because our associates all bring unique talents to their
jobs, Bank of America’s pay-for-performance culture fully
encourages their contributions. We offer every associ-
ate the chance to earn a performance incentive, with the
best performers realizing the greatest rewards. We help
associates understand how their work supports the busi-
ness, and how their performance affects their pay. We’ve
strengthened this culture by implementing a multi-phased
performance management process and offering managers
tools and training to facilitate pay decisions.
FuLL-tIME POSItIONS
Commercial Banking
Consumer Banking
Consumer and Small Business Products
Global Treasury Services
Investment Banking
Marketing
Personnel
Sales
Technology Service & Fulfillment
Trading
Quality and Productivity
Research
SuMMER POSItIONS (INtERNS)
Commercial Banking, Consumer Banking, Consumer
and Small Business Products, Finance, Global Treasury
Services, Investment Banking, Sales, Technology Service
& Fulfillment, Trading, Quality and Productivity, and
Research
bAYER hEALthCARE
CONSuMER CARE dIvISION
Jungle Profile
uRL
www.bayermbarecruiting.com
PhONE
973-254-5000
OFFICE hEAdQuARtERS
Morristown, NJ
MANAGEMENt
Werner Wenning, Chairman of the Board, Bayer AG
Dr. Attila Molnar, President and CEO, Bayer (US)
dESCRIPtION
The Consumer Care Division of Bayer HealthCare LLC, is
among the largest marketers of over-the-counter medica-
tions and nutritional supplements in the world.
bEAR StEARNS
Jungle Profile
uRL
www.bearstearns.com
PhONE
212-272-2000
hEAdQuARtERS
New York
MANAGEMENt
James E. Cayne, Chairman and CEO
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dESCRIPtION
Bear Stearns is a top investment banking, securities trading
and brokerage firm with an emphasis on capital markets,
wealth management and global clearing services.
bOEING
Jungle Profile
uRL
www.boeing.com
OFFICE hEAdQuARtERS
Chicago
PhONE
312-544-2000
MANAGEMENt
W. James McNerney, Chairman, President and CEO
dESCRIPtION
Boeing is a top aerospace company and the largest manu-
facturer of commercial jetliners and military aircraft
combined, with capabilities in rotorcraft, electronic and
defense systems, missiles, satellites, launch vehicles and
advanced information and communication systems. As the
No. 1 U.S. exporter in terms of sales, Boeing’s customers are
located in 145 countries.
bOOZ ALLEN hAMILtON
Jungle Profile
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www.boozallen.com
OFFICE hEAdQuARtES
McLean, VA
PhONE
703-902-5000
MANAGEMENt/OFFICERS
Dr. Ralph Shrader, Chief Executive Officer
dESCRIPtION
Booz Allen Hamilton, a leading strategy and technology
consulting firm, has been at the forefront of management
consulting for businesses and governments for more than
90 years. With over 19,000 employees on six continents,
the firm generates annual sales of $4.1 billion. Booz Allen
provides services in strategy, organization, operations, sys-
tems, and technology to the world’s leading corporations,
governments and other public agencies, emerging growth
companies, and institutions.
bOStON CONSuLtING GROuP
Jungle Profile
uRL
www.bcg.com
hEAdQuARtERS
Boston
PhONE
617-973-1200
MANAGEMENt
Hans-Paul Bürkner, president and CEO
dESCRIPtION
Boston Consulting Group is an international strategy and
general management consulting firm which operates on
six continents. The firm offers clients expertise in a wide
range of sectors including retail, energy, health care and
media and entertainment.
bRIStOL-MYERS SQuIbb
Company Profile
uRL
www.bms.com
tICKER
BMY
AdddRESS
P.O. Box 4500
Princeton, NJ 08543-4500
PhONE
609-897-2000
CONtACt
Maureen Varela, Manager, University Relations
whAt’S NEw
Focus on 10 disease areas: atherosclerosis/thrombosis, psy-
chiatric disorders, Alzheimer’s, diabetes, obesity, cancer,
rheumatoid arthritis, solid organ transplant, HIV/AIDS,
and hepatitis.
MESSAGE tO MbA CANdIdAtES
Bristol-Myers Squibb’s (BMS) mission is to extend and
enhance human life by providing the highest-quality phar-
maceuticals and health care roducts. Our medicines are
making a difference in the lives of millions of customers
across the globe. By living our mission and growing our com-
pany for well over a century, we are making a difference in
the lives of our shareholders, employees, and neighbors.
We affirm our commitment to foster a globaly diverse
workforce and a companywide culture that encourages
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COMPANY PROFILES
excellence, leadership, innovation, and a balance between
our personal and professional lives. We acknowledge our
obligation to provide able and humane leadership and a
clean and safe work environment. Our employees work
in offices, research and development labs, manufacturing
plants and distribution facilities located in almost every
country around the world.
U.S. and Global Marketing are highly-selective divisions
geared toward students interested in gaining valuable
experience in marketing, general management, strategy
and sales of pharmaceutical products. Associates will be
instrumental in assisting in the development of marketing
strategies, plans of action and execution of tactical pro-
grams. Assignments may include: production of business
plans, elaboration of marketing communication materials
to sales force and customers, determination of appropriate
pricing strategies, market plans, promotional strategies
and field inventory development and evaluation of market
research studies (surveys, focus groups, contacts) to deter-
mine customer needs.
BMS also has positions for MBAs in Finance and
Information Management. Our family of companies, Mead
Johnson and ConvaTec also provide opportunities for MBAs.
hIRING PROCESS
Candidates for Masters in Business Administration degree
only. Other requirements include excellent strategic, ana-
lytical, conceptual, creative, and communication abilities.
The ideal candidate will have had functional exposure
and experience to marketing, sales and/or financial anal-
ysis. Work experience in a results-driven, competitive
environment requiring adaptability is a plus. Strong inter-
personal skills including the ability to influence others
and work effectively in a matrix organization are essential.
Leadership potential is highly valued, and a commitment
to integrity, professionalism and teamwork is required.
Bristol-Myers Squibb is an Equal Employment Opportunity
employer. The Immigration and Control Act of 1986 requires
that employers verify employment authorization and identity of
potential employees. Documents establishing current employ-
ment authorization must be provided upon employment.
All Summer Program Interns will participate in one
10-week placement within a Marketing, Finance or
Information Management Team. The program is orga-
nized to ensure Summer Interns gain valuable industry and
functional experience, work on challenging assignments,
learn about BMS, and meet company representatives.
The program will feature:
• An orientation, including an overview of company struc-
ture, products and brands;
• An introduction to the Divisional Excellence Programs;
• Exposure to senior management through business speak-
er series sessions;
• A formal mentor program;
• Formal review and feedback sessions with managers;
• Team building/networking events.
Summer Associates will receive priority in the full-time
offer process.
Candidates interested in being considered for a campus
interview should apply online through our website at www.
bms.com in addition to following the standard process at
your business school Career Services Department. Check
with your Career Services offices for interview dates and
resume submission deadlines.
MESSAGE tO wOMEN/MINORItIES
Bristol-Myers Squibb Company is an equal opportunity
employer. M/F/V/D. BMS has been hailed year after year as
one of the best companies for working mothers.
CORPORAtE MISSION ANd StRAtEGY
Bristol-Myers Squibb’s (BMS) mission is to extend and
enhance human life by providing the highest-quality phar-
maceuticals and health care products. Our medicines are
making a difference in the lives of millions of customers
across the globe. And by living our mission and growing
our company for well over a century, we are making a dif-
ference in the lives of our shareholders, employees and
neighbors as well. We affirm our commitment to foster a
globally diverse workforce and a companywide culture
that encourages excellence, leadership, innovation and a
balance between our personal and professional lives. We
acknowledge our obligation to provide able and humane
leadership and a clean and safe work environment. Our
employees work in offices, research and development labs,
manufacturing plants and distribution facilities located in
almost every country around the world.
COMPANY hIStORY
Bristol-Myers Company was founded in 1887; Squibb
Corporation traces its roots to 1858. In 1989, the two com-
panies merged, and Bristol-Myers Squibb Company has
continued to grow ever since.
hOw wE ARE ORGANIZEd
Bristol-Myers Squibb operates with an integrated ONE BMS
strategy. Worldwide Pharmaceuticals develops, manufac-
turers and sells world-renowned prescription products for a
variety of diseases including cancer, AIDS, and cardiovascular
illnesses. ConvaTec, makers of ostomy and wound care prod-
ucts. Nutritionals Group, which encompasses Mead Johnson
Nutritionals, is responsible for such brands as Enfamil.
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GLObAL PRESENCE
Bristol-Myers Squibb has facilities around the world with
43,000 employees.
hOME OFFICE LOCAtION
Lawrenceville, NJ
MANAGEMENt
Jim Cornelius, CEO
COMMON u.S. hIRING LOCAtIONS
CT, MA, NJ, NY
COMMON INtERNAtIONAL hIRING LOCAtIONS
Australia, Belgium, Brazil, Canada, China, France,
Germany, Italy, Japan, Spain, U.K.
[C]
CAMPbELL SOuP COMPANY
Company Profile
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www.campbellsoup.com
tICKER
CPB
AddRESS
1 Campbell Place
Camden, NJ 08103
PhONE
856-342-4800
INduStRY
Manufacturing
whAt’S NEw
The label may look the same—one consumers have known
and trusted for 135 years—but when you open the lid on
the Campbell Soup Company you find a fresh, new mix of
management priorities and strategies that should propel
growth into the new century.
Under the leadership of Douglas R. Conant, Campbell’s
president and chief executive officer, Campbell rolled
out an aggressive, comprehensive strategy for long-term
growth. Over the past three years, the company made sig-
nificant progress in its “Transformation Plan” effort. Its
plan for 2005-2007 builds on its progress to leverage and
accelerate its growth.
MESSAGE tO MbA CANdIdAtES
As a world leader in consumer products, Campbell’s con-
tinually relies on the ideas, energy and innovations of new
team members as we continue to grow. In order to keep our
management and our perspective fresh, we offer training
programs for recent graduates
We look for finance and marketing MBAs to fill our Associate
Brand Manager and Senior Financial Analyst positions.
For more information on our development programs,
please visit: careers.campbellsoupcompany.com/career_
development.asp
dESCRIPtION OF hIRING PROCESS
Campbell visits the country’s top business schools each
year. To find out when we’ll be on your campus, check
with your school’s career services office or the Campbell
website.
You will be seeing us on campus through presentations,
campus events and interviews. If there appears to be a fit
after the interview for a full-time position, you will be
invited to our headquarters in Camden, N. J. for a full day of
second-round interviews. For internships, we will conduct
all of our interviews on campus in the early spring. We rely
heavily on the success of our internship program to fulfill
the majority of our full-time needs.
hOw tO APPLY
If we don’t visit your campus, please visit our web site at
careers.campbellsoupcompany.com
ON-CAMPuS EvENtS CALENdAR
careers.campbellsoupcompany.com/careers_campus.asp
ON-CAMPuS INtERvIEwS
Your career services office will notify you if you have been
selected for our closed list. If you do not hear back from
career services, please contact your career center to obtain
a slot on our open list.
MESSAGE tO wOMEN/MINORItIES
At Campbell, we define diversity as the vast array of
human differences and similarities, inclusive of every-
one. In order to compete and succeed in a changing
marketplace we must cultivate and embrace a diverse
employee population that fuels our growth and enriches
our global culture.
As part of our Campbell’s vision, “Together We Will Do
Extraordinary Things in the Workplace and Marketplace,”
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COMPANY PROFILES
our commitment to building and strengthening teams has
the greatest focus of our leadership. We must have diverse
perspectives, talents and teams to meet this business chal-
lenge. You won’t find a better place for your talent, ideas
and experience than at Campbell Soup Company.
OvERvIEw OF OuR COMPANY
Campbell Soup Company is a global manufacturer and
marketer of high-quality soup, sauce, beverage, biscuit, con-
fectionery, and prepared food products. The company is 135
years old, with more than $7 billion in annual sales and a
portfolio of more than 20 market-leading brands. Campbell’s
North American brands include Campbell’s soups, Swanson
broths, Pepperidge Farm cookies, crackers, breads and frozen
products, V8 vegetable juices, V8 Splash juice beverages, Pace
Mexican sauces, and Prego pasta sauces. More than 24,000
full-time employees worldwide ably support the company. For
more information on the company, visit Campbell’s website at
www.campbellsoupcompany.com.
COMPANY hIStORY
In 1869, fruit merchant Joseph Campbell teamed up with
icebox manufacturer Abraham Anderson to found a can-
ning and preserving business in Camden, N.J. Both had
retired by 1897, when new chief officer Arthur Dorrance
reluctantly hired his nephew, chemist John Dorrance. The
younger Dorrance soon discovered a process for conden-
sing soup that reinvented the company.
By condensing the soup, the company eliminated the
water, drastically reducing costs for packaging, shipping,
and storage. Campbell’s lower prices, eye-catching packag-
ing (inspired by Cornell University’s football uniforms after a
company exec attended one of the school’s games), and popu-
lar ad campaigns featuring the Campbell’s kids combined to
make the company an all American success story.
hOME OFFICE LOCAtION
Camden, NJ
dESCRIPtION OF OFFICE CuLtuRE
Our Campbell Promise reinforces the slogan Campbell
Valuing People, People Valuing Campbell, and we strive to
bring this to life in our daily work environment.
LINK tO RECENt NEwS
www.campbellsoupcompany.com/media_relations.asp
FuLL-tIME POSItIONS
Associate Brand Manager
Senior Financial Analyst
SuMMER POSItIONS (INtERNS)
Financial Intern, Brand Marketing Intern, and Consumer
Insights Intern
COMMON u.S. hIRING LOCAtIONS
NJ
CAPGEMINI
Jungle Profile
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www.us.capgemini.com
OFFICE hEAdQuARtERS
Paris, U.S. headquarters in New York
PhONE
212-314-8000
MANAGEMENt
Salil Parekh, CEO of North America Projects and
Consulting
dESCRIPtION
With more than 75,000 employees, Capgemini is an inter-
national firm in the consulting, technology, outsourcing,
and local professional services. Capgemini’s regional opera-
tions include North America, Northern Europe and Asia
Pacific and Central and Southern Europe. Expertise is
offered in a range of sectors including automotive, energy,
chemical, consumer products, manufacturing, and media.
CENtRAL INtELLIGENCE
AGENCY
Jungle Profile
uRL
www.cia.gov
OFFICE hEAdQuARtERS
Washington, D.C.
PhONE
703-482-0623
MANAGEMENt
General Michael V. Hayden, Director
dESCRIPtION
Created by Harry S. Truman in 1947, the CIA is a civilian
agency which serves to advise the president of the United
States on matters of intelligence and national security. It
does so by gathering and analyzing information about
foreign governments, corporations, and people, and is
overseen by Congress.
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CItI
Company Profile
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www.citi.com
tICKER
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AddRESS
388 Greenwich Street
New York, NY 10013
PhONE
212-816-6000
CONtACt
Debbie Bertan, Director, Citi Campus Strategies
Caitlin McLaughlin, Managing Director, Graduate
Recruitment Team
INduStRY
Commercial Banking
Investment Banking
Investment Management
Sales and Trading
whAt’S NEw
At a firm that is often at the forefront of redefining the
industry, there’s always something new.
Our bankers work with the leading corporations,
f inancial institutions and governments globally to
provide world-class advice across product and sectors.
A testament to our success is the long list of awards
the bank has won in the past year alone, including:
Global Finance’s Best Investment Bank and Best Cash
Management Bank, Euromoney’s Best Global Cash
Management House and Best Global Emerging Market
Bank, Trade Finance’s Best Trade Services Bank, and
the World’s Largest Global Custodian by Institutional
Investor.
Each day we handle about 10 percent of the volume of
the NYSE and the Nasdaq and we’re the top-ranked firm in
global combined debt and equity securities for 18 consecu-
tive quarters.
Further, we’re No. 1 worldwide in cash management,
moving more than $1 trillion per day.
MESSAGE tO MbA CANdIdAtES
Citi’s success is built on attracting the best individuals.
In a corporate environment that embraces a multitude of
cultures, we offer unrivaled opportunities for people of
diverse backgrounds and talents to work with colleagues
across a wide range of business groups and new markets.
Whether it’s the design of leading-edge technology, the
excitement of the trading floor, or assisting in some of the
world’s largest corporate deals, you’ll enjoy an environ-
ment where entrepreneurship, teamwork and creativity
are prized and cultivated. We know the success of Citi
lies in the success of our people. Allowing our recruits
a broader range of experience and the ability to effect
change, we create a stronger Citi, and a better place to
build a career.
dESCRIPtION OF hIRING PROCESS
One or two professionals conduct first-round interviews
at on-campus career services facilities for each school
that we visit. They are usually members of the school’s
recruiting team.
Depending on the size of the school, second-round
interviews take place on campus or at a nearby facility.
Strong candidates from each campus will be invited
to final rounds in New York (or another appropriate
location).
Strong write-in candidates are usually invited to meet
two or three professionals in New York and then may be
invited to final rounds.
hOw tO APPLY
citi.com
GENERAL INtERvIEw AdvICE
Obviously, you need strong quantitative skills and an
interest in the business. We also look for evidence of a high
energy level, adaptability, and a sense of humor.
We look for professionals who possess self-confidence
and are willing to accept real challenges. We need bright,
capable people who think and plan with intensity; respond
and execute quickly; and deploy and develop their skills in
flexible, globally oriented teams.
We assume that candidates have a genuine interest in
working for us and therefore have taken the time to do
their homework. If you are not prepared and do not have
a good understanding of our businesses, you are at a dis-
advantage.
whAt wE LOOK FOR
We want to know how you view yourself and express your-
self, so we may ask the following:
• why you chose your undergraduate institution
• why you chose your major
• what you did before business school
• why you chose the business school you are attending
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COMPANY PROFILES
• why you are interested in a specific career (such as
investment banking, sales and trading, research, global
relationship banking, or consumer businesses)
• what motivates you both personally and professionally
• what your goals are and how you intend to go after them
These questions help us ascertain:
• how concisely and cogently you can express yourself
• how carefully you have thought about the choices you
have made, and how good your judgment is
• how strong your convictions are and how passionate you
are about the decisions you’ve made
• whether you are articulate, compelling, and focused
We want to know the following:
• whether you will be able to stand up to the pressure
• whether you inspire confidence and respect among your
peers
• why you are prepared to dedicate yourself to an often gru-
eling and stressful business
We want to know how interested you are in the industry.
For example . . .
• whether you know what you’re getting into
• whether you are ready to give what it takes
• whether you understand the rules of the game
• whether you consider the time spent in banking as a great
personal investment or as a sacrifice
We want to know how interested you are in us. For example
we might ask:
• whether you’ve done your homework on the firm
• whether you have a real interest in Citi
• what opinions and questions you have about the work
we’ve done
• what questions you have about the work you would do
We want to know how technically knowledgeable you are,
of course, but we also want to know:
• the depth of your understanding
• how well you understand the subtleties
• how well you evaluate alternative explanations, interpre-
tations, and strategies
COMMON INtERvIEw QuEStIONS
• Tell me about yourself.
• Talk to me about leadership positions you’ve held, wheth-
er in a personal or professional setting.
• Tell me about some of the more important Citi deals.
In addition, your interviewers will ask you technical ques-
tions about the specific area that interests you.
MESSAGE tO wOMEN/MINORItIES
At Citi, we offer all employees—regardless of gender, race,
national origin, age, sexual orientation, disability or reli-
gion—the opportunity and means to advance to their full
potential.
We work to ensure an environment in which individu-
als from diverse backgrounds can develop professionally
and personally.
We believe our efforts will help us do better business in
an increasingly diverse society and marketplace, as well as
make Citi the best choice for the best people.

OvERvIEw OF OuR COMPANY
In a short amount of time, Citi has emerged as the most
exciting financial services company in the world, a place
where clients want to do business and employees want
to build their futures. We offer both our individual and
corporate clients a range of quality products and services
unmatched in the financial services industry. And, as a
result, we are able to provide our employees with a breadth
of career opportunities that is both equal and global.
Citi Markets and Banking is a global, full-service
financial firm, which provides brokerage, investment
banking and cash management services to corporations,
governments, and individuals around the world.
As a leader in the U.S. securities industry, our core ser-
vices include sales, research, and trading for individuals
and institutions; underwriting, advisory, and specialty
financing for corporations and government entities; mutu-
al fund services, futures and cash management.
As the nation’s second-largest retail brokerage firm, we
offer clients a full range of investment products—including
stocks, bonds, mutual funds, CDs, insurance and annuities
—and services such as advice on retirement planning, asset
allocation, portfolio management, college funding, estate
planning, trust services (not available in all states), and
other services for affluent investors.
Citi includes Corporate & Investment Banking, the
Consumer Group, Citi Alternative Investments and the
Global Wealth Management, which includes Smith Barney
Equity Research division. Together, these businesses offer
the full range of financial products and services, including
cash management, banking and consumer finance, credit
and charge cards, insurance, investments, and investment
banking and trading, and use diverse channels to make
them available to institutional and individual clients
around the world.
CORPORAtE MISSION ANd/OR StRAtEGY
We aspire to be known as:
• A company with the highest standards of moral and ethi-
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cal conduct—working to earn client trust, day in and day
out. Our word is our bond.
• The leader in global financial services, with market lead-
ership in every one of our major activities, and one of the
greatest companies in the world.
• A company where the best people want to work, and the
first choice of where clients want to do business.
• Client-focused, providing unparalleled levels of service as
a means of protecting and building our business franchise
over time.
• An organization with credibility—doing what we say and
reporting results with accuracy and objectivity.
• A company dedicated to community service, taking a
leadership role in every local community around the world
in which we operate, and making each community a better
place because we are there.
COMPANY hIStORY
The creation of Citi in 1998 brought together two extraordi-
nary organizations: Citicorp and Travelers. Both companies
had long and impressive histories of customer service
and innovation. Today, Citi is not just a larger version of
Travelers or Citicorp, but a new company altogether, with
more exciting growth possibilities than either predecessor
alone.
hOw/whY wE ARE dIFFERENt
Citi is the most profitable financial services company in
the world, with 200 million customer accounts in more
than 100 countries. The people of Citi put clients first and
are constantly striving to improve their performance. Ours
is a company for people who have a sense of urgency and
excitement, who are candid, insightful and creative, and
who thrive in an environment of change, challenge, and
competition.
dESCRIPtION OF GLObAL PRESENCE
Citi has a long and unrivaled history as a provider of
financial services throughout the world in more than 100
countries. Our global footprint includes 80 emerging mar-
ket countries in Asia, Latin America, Central and Eastern
Europe, the Middle East, and Africa.
hOME OFFICE LOCAtION
New York, NY
CLIENtS/INduStRIES SERvEd
Citi fulfills the financial services needs of an unparalleled
range of clients, from millions of individual consumers
and small businesses to corporations, governments, and
institutional investors around the globe.
dESCRIPtION OF OFFICE CuLtuRE:
Our employees thrive on constant change and growth.
They are hard-working, entrepreneurial, and adaptable.
Our atmosphere is open, friendly and congenial. Many
offices, especially in the U.S., are business-casual.
LINK tO EMPLOYEE PROFILES
citi.com

COMMON u.S. hIRING LOCAtIONS
NY
COMMON INtERNAtIONAL hIRING LOCAtIONS
Australia, Japan, UK
CREdIt SuISSE
Company Proflie
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www.credit-suisse.com
tICKER
CSR
AddRESS
11 Madison Avenue
10th Floor
New York, NY 10010
PhONE
212-325-2000
CONtACt
Kristina Flood, MBA Campus Relations Manager
Jennifer Salerno, MBA Campus Relations Manager
Kim Lancer, BA Campus Relations Manager
Amanda Angulo, BA Campus Relations Manager

MESSAGE tO MbA CANdIdAtES
This is a truly exciting moment in our history. We recent-
ly completed our “One Bank” reorganization, unifying
our entire global banking business. This change helps us
bring together all the products and skills from across our
entire Bank, to provide our clients with a complete bank-
ing solution to meet their needs. Our strategy builds on our
integrated structure and client-centric business model and
ensures that we deliver our full range of products and ser-
vices to clients from across our three divisions: Investment
Banking, Private Banking and Asset Management.
In Investment Banking, our products and services
include debt and equity underwriting, sales and trading,
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M&A, divestitures, corporate sales, restructuring and
investment research. In Private Banking, we offer compre-
hensive advice and a broad range of wealth management
solutions, including pension planning, life insurance prod-
ucts, tax planning, as well as wealth and inheritance advice,
which are tailored to the needs of high net worth individu-
als worldwide. In Asset Management, we offer integrated
investment solutions and services to institutions, govern-
ments and private clients globally.
hOw tO APPLY
Start by applying on-line at www.credit-suisse.com/careers.
If we are interviewing on your campus, please apply both to
your career center as well through our online system, where
you will be able to track the progress of your resume. For the
first round, you will meet with one or two of our employees
for about 30 minutes. Within a few days, we’ll contact you by
telephone or email to let you know if we want to set up a sec-
ond interview. If we request a second interview, you’ll likely
be asked to come to our offices, where you will interview
with junior and senior members of the Bank. After your
second round of interviews, we may be ready to make our
decision. It is possible, however, that you’ll be asked to visit
us again to meet with more professionals in the Bank. We
will then contact you with our decision within a week.

MESSAGE tO wOMEN/MINORItIES
Cultivating and fostering an inclusive workplace is an inte-
gral part of Credit Suisse’s business strategy. Our diversity
initiatives continue to receive external recognition: Credit
Suisse has been named the one of the “Best Companies for
Working Mothers” by Working Mother magazine for the
past four years; Working Mother also named Credit Suisse
one of the “20 Best US-based Companies for Multicultural
Women.” Additionally, Black MBA magazine recently
honored several Credit Suisse employees in its prestigious
“Top 50 under 50 list.”
Credit Suisse’s philanthropic strategy emphasizes
“Giving Back to the Community.” We financially support
organizations and reinforce that support with employee
involvement. The Credit Suisse Foundation’s unique mis-
sion allows our employees to address a wide variety of social
issues by acting as internal champions, initiating events or
through volunteerism.

OvERvIEw OF OuR COMPANY
Credit Suisse serves its diverse clients through three divi-
sions: Investment Banking, Private Banking and Asset
Management, which cooperate closely to provide holistic
financial solutions based on innovative products and spe-
cially tailored advice. The Bank has a truly global reach
today, with operations in over 50 countries and a team of
more than 41,000 employees.
CORPORAtE MISSION ANd/OR StRAtEGY
The vision of Credit Suisse is to become the world’s
premier bank, renowned for expertise in Investment
Banking, Private Banking and Asset Management, and
most valued for its advice, innovation and execution. In
order to achieve this vision, Credit Suisse will set new
standards: new standards in partnering with our clients
and new standards in providing them with innovative
and integrated solutions.
COMPANY hIStORY
1932: The First Boston Corporation is established as a sub-
sidiary of The First National Bank of Boston.
1933-1934: As required by the Glass-Steagall Act in the
United States, The First Boston Corporation severs its ties
to The First National Bank of Boston and becomes the first
publicly held investment bank in the United States.
1946: Mellon Securities Corporation merges into The First
Boston Corporation, increasing First Boston’s capital and
client base.
1948: The First Boston Corporation joins the New York
Stock Exchange.
1978: The First Boston Corporation and Credit Suisse,
which was founded in Switzerland in 1865, enter into a
cross-shareholding, resulting in joint ownership of White
Weld’s former London-based subsidiary, which then
becomes Credit Suisse First Boston.
1988: The First Boston Corporation and Credit Suisse First
Boston create a new global investment banking firm, CS
First Boston, under the umbrella of Zurich-based financial
services firm CS Holding. The First Boston Corporation
goes private. Major shareholders include CS Holding,
Metropolitan Life Insurance Company, senior employees,
and other institutional investors.
1990: CS Holding increases its ownership take in CS First
Boston from 44.5 percent to 64percent. CS First Boston
establishes a AAA-rated derivatives-product affiliate with
Credit Suisse to provide a broad range of risk management
and derivative product services.
1996-97: CS First Boston becomes Credit Suisse First
Boston as part of the reorganization of CS Holding into
Credit Suisse Group. The reorganization consolidates the
corporate banking operations of Credit Suisse and the
bulge-bracket investment banking capabilities of CS First
Boston.
1998: Credit Suisse First Boston completes two impor-
tant acquisitions: the European and selected Asian equity,
equity capital markets and mergers-and-acquisitions advi-
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sory business of BZW from Barclays of the UK, and Banco
Garantia, the leading investment bank in Brazil.
2000: Credit Suisse First Boston and Donaldson, Lufkin &
Jenrette combine to create one of the world’s most power-
ful investment banks, with more than 26,000 employees
and a leading presence in virtually every major financial
market in the world.
2001: Credit Suisse Group named John Mack as Chief
Executive Officer of Credit Suisse First Boston and Vice
Chairman of the Group Executive Board.
2002: Credit Suisse Group streamlined its organizational
structure into two separate business units: Credit Suisse
First Boston and Credit Suisse Financial Services.
2004: Brady Dougan, a 15-year veteran at CSFB, is named
CEO of Credit Suisse First Boston. CSFB and other busi-
ness units of Credit Suisse Group embark on a strategic
One Bank integration.
2006: As part of Credit Suisse Group’s One Bank strat-
egy, its main businesses unite under one brand of Credit
Suisse.
2007: Brady Dougan named CEO of Credit Suisse Group.
hOw/whY wE ARE dIFFERENt
Our culture is both traditional and innovative, and we
pride ourselves on the outstanding intellectual capabilities
of our people and their ability to deliver creative solutions
to our clients’ most complex and challenging problems.
During our long history, Credit Suisse has been known
for pioneering new financial products and services in both
developed and emerging markets, to help meet our clients’
needs. We stand out as one of the most experienced private
banking and asset management firms globally, coupling
the dynamism and innovation of a global leader in invest-
ment banking with the tradition of stability, discretion,
prestige, and efficiency that accompanies our 150-year his-
tory of excellence.
As we move ahead, we’re looking for people who under-
stand that in order to deliver, we must, as always, keep
clients at the center of our thinking. People who under-
stand the importance of teamwork and innovation. People
who leverage innovation to help our clients find solutions
to their business issues as the global capital markets become
increasingly volatile and interdependent.
hOw wE ARE ORGANIZEd
Credit Suisse provides an innovative and supportive cul-
ture in which talented and ambitious individuals work
together to provide solutions for our clients across the
globe. We’re active in more than 50 countries and employ
approximately 45,000 people.
dESCRIPtION OF GLObAL PRESENCE
Credit Suisse First Boston has its main offices in New
York, London and Zurich, with regional offices across the
Americas, Europe, and Asia/Pacific Region.
hOME OFFICE LOCAtION
The Investment Banking Division is based in New York,
NY
LINK tO bASIC FINANCIALS
www.credit-suisse.com/investors/
FOuNdING PRINCIPLES
Cultivating and fostering an inclusive workplace is an inte-
gral part of Credit Suisse’s business strategy. Our diversity
initiatives continue to receive external recognition: Credit
Suisse has been named the one of the “Best Companies for
Working Mothers” by Working Mother magazine for the
past four years; Working Mother also named Credit Suisse
one of the “20 Best US-based Companies for Multicultural
Women.” Additionally, Black MBA magazine recently
honored several Credit Suisse employees in its prestigious
“Top 50 under 50 list.”
Credit Suisse’s philanthropic strategy emphasizes
“Giving Back to the Community.” We financially support
organizations and reinforce that support with employee
involvement. The Credit Suisse Foundation’s unique mis-
sion allows our employees to address a wide variety of social
issues by acting as internal champions, initiating events or
through volunteerism.
dESCRIPtION OF OFFICE CuLtuRE
At Credit Suisse, you’ll find the freedom to question the sta-
tus quo, try new things, focus intensely and move quickly
and flexibly. If you’re confident in your abilities, we’ll help
you stretch them to their limits.
You won’t find bureaucracy or a strict hierarchy at Credit
Suisse. Employees tend to have responsibility early—with
support, mentoring and other resources for professional
growth along the way. Our work environment combines
individuality and teamwork. We’re highly varied in our
backgrounds, styles and outlooks -- but what really mat-
ters here is the success of the team. For our clients, these
essential differences help provide the energy we direct
externally to create productive change. They can do the
same for your career.
We encourage and reward open communication at all
levels. Even as a new Associate or Analyst, it is not unusu-
al to have immediate exposure to Managing Directors,
Directors, and Vice Presidents at Credit Suisse.
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COMPANY PROFILES
AbOut OuR PEOPLE
To help us achieve our goals, we are always looking to hire
the best and the brightest. You may have seen some of our
recruiting materials or our web site with the message: “Fit
In. Stand Out.” This doesn’t mean that we’re looking for
conformists. It doesn’t mean you have to have a particular
kind of degree or major. And it certainly doesn’t mean that
there is a Credit Suisse “type” of person. On the contrary,
diversity—diversity in the broadest sense—is at the core
of the Bank. The way to “fit in” at Credit Suisse is to be
every bit as talented, focused, and imaginative as the peo-
ple you’ll work alongside. You fit in by being collaborative
rather than competitive by being curious and asking ques-
tions; by taking the initiative and assuming a leadership
role whenever the need arises. Credit Suisse has a history
of employing entrepreneurial thinkers, and that’s what we
continue to look for in the people we recruit. Describing
those kind of competences on your application and at
interview will make you “stand out” during the selection
process. And our training and development -– arguably
the best in the industry –- will help you “stand out” and
make an impact within the Bank. What’s more, you’ll go
on to help our clients stand out, which is the key to Credit
Suisse’s success.
AwARdS wON
Credit Suisse has received recognition over the years from
various financial publications for its global transaction and
advisory work.
The financial press regularly recognizes Credit Suisse’s
innovation, expertise and capabilities by awarding the Firm
numerous “Deals of the Year” awards for its financing and
advisory assignments on behalf of its clients.

FuLL-tIME POSItIONS
We offer full time associate positions in several of our offic-
es, including New York, Houston, Hong Kong, London,
San Francisco, Singapore, and even as far as Sydney.
SuMMER POSItIONS (INtERNS)
Our summer associate programs are primarily run out of
New York, London and Hong Kong, although we do have
smaller programs in other regional offices.
COMMON INtERNAtIONAL hIRING LOCAtIONS
Australia, China, Hong Kong, India, Singapore,
Switzerland, UK, USA
[d]
dELOIttE CONSuLtING
Jungle Profile
uRL
www.deloitte.com
OFFICE hEAdQuARtERS
New York, NY
PhONE
212-489-1600
MANAGEMENt
Barry Salzberg, CEO, Deloitte & Touche USA
dESCRIPtION
Deloitte is one of the world’s leading consulting firms
for business strategy, operations, technology, and human
resource planning. Their services integrate consulting
with tax solutions, financial advisory services, and risk
management capabilities. Deloitte Consulting is part of
Deloitte Touche Tohmatsu, a leading accounting firm
which employs more than 90,000 people in over 130
countries.
dEutSChE bANK
Company Profile
uRL
www.db.com
AddRES
60 Wall Street
New York , NY 10005
PhONE
212-250-2500
FAx
212-797-0177
INduStRY
Investment Banking
Investment Management
Sales and Trading
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whAt’S NEw
At Deutsche Bank, we believe that ‘A Passion to Perform’
is more than just a claim – it is the way we do business,
attracting the brightest talent to deliver an unmatched
franchise.
We are committed to being the best financial services
provider in the world. Our breadth of experience, cutting-
edge capabilities, and financial strength create value for
our stakeholders: clients, investors, employees, and the
community as a whole.
Yet even as we continue to evolve and change, the keys
to Deutsche Bank’s success remain constant: a focus on
client needs, a spirit of innovation, a broad range of exper-
tise combined with technological power, and financial
strength delivered by diverse, highly skilled professionals
across the globe.
Expect the better career.
MESSAGE tO MbA CANdIdAtES
We are looking for powerful minds, with creative spir-
its and an appetite for innovation. You will possess the
natural drive that is a prerequisite to success in our
business. You will take ownership of your own projects
with minimum supervision and you will reap the
rewards of your success.
dESCRIPtION OF hIRING PROCESS
The Bank recruits on campus for opportunities in the
United States, United Kingdom, Europe, Asia, and Japan.
Candidates are selected based a number of factors includ-
ing academic record, level of interest in Deutsche Bank
and work experience. Prior experience in the financial ser-
vices industry is preferred.
The interview process will commence typically with
a first-round interview. In some regions, candidates may
also take part in a meeting at an assessment center. There
may be a panel interview; candidates may be asked to take
a numerical or diagrammatic test, or participate in a case
study. Candidates will be informed of their particular
interview process prior to the interview.
Our interviews are competency–based. This means the
interviews attempt to highlight the candidate’s aptitude for
the positions the bank is seeking to fill. They will be asked
to show how their experiences demonstrate these compe-
tencies. If there are any questions concerning this process,
candidates are advised to contact their regional graduate
recruitment department.
hOw tO APPLY
All applications for the global graduate training programs
must be via our online website (www.db.com/careers).
The online system will allow you to register and attach
your resume for consideration for any of our global oppor-
tunities.
ON-CAMPuS EvENtS CALENdAR
www.db.com/careers
GENERAL INtERvIEw AdvICE
Preparation is key to a successful interview. Familiarize
yourself with the area that you are applying to. For instance,
you should be aware of recent economic events which can
be attained via traditional business publications. This will
enhance your business knowledge, enabling you to formu-
late your own opinions.
whAt wE LOOK FOR
Interiewers look for a strong and consistent academic
background, numeracy, evidence of personal motivation
and ambition, entrepreneurialism, the ability to work in a
team as well as a desire to learn and a proven interest in
the financial sector. Work experience in the sector is also
an asset.
MESSAGE tO INtERNAtIONAL StudENtS
Deutsche Bank welcomes individuals with potential to
work in various international locations. Although there is
the universal use of English in the majority of the world’s
financial centers, proficiency in the language of that
region is strongly encouraged. Internship opportunities
are available in London, Hong Kong, and Tokyo as well as
in the U.S.
Hire non-US citizens: Yes
Sponsor for H-1B visas: Yes
MESSAGE tO wOMEN/MINORItIES
Deutsche Bank is an Equal Opportunity Employer and
strongly encourages all individuals to apply for any of our
exciting opportunities both at home and abroad.
Within the work place, we’re committed to relationship
building of the highest caliber, developing a series of initia-
tives that have been designed to not simply enhance the best
in our people, but also the best in their work/life balance.
All faith rooms in every office, multicultural partner-
ships and rainbow groups across the globe are just a few
networks available to all employees. Our Family Network
gives working parents a platform to raise awareness of
their needs across the firm while our female employees
have access to the best in career development, leadership
and business opportunities, through the Deutsche Bank
Women’s Network, Women in European Business, and
Women on Wall Street programs.
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COMPANY PROFILES
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Our hard work has paid off. In 2006, Working Mothers
magazine voted us one of the 100 Best Companies to Work
for for the fourth consecutive year. In the US, we picked up
the Working Mother Award, in Germany garnered acco-
lades from, Total-E Quality and Success Factor Family, and
in the UK; ‘The Times’ rated us one of their Top 20 Best
Companies to Work.
OvERvIEw OF OuR COMPANY
As a global player for more than 135 years, Deutsche Bank
started as a trade financing business and growing to the
leading global financial institution it is today. As a top exec-
utor of M&A deals, the global leader in securities trading
and offering holistic advisory services to private clients,
Deutsche Bank now extends beyond 75 countries and over
75,000 employees.
CORPORAtE MISSION ANd/OR StRAtEGY
Deutsche Bank competes to be the leading global provid-
er of financial solutions for demanding clients, creating
exceptional value for our shareholders and people.
Deutsche Bank is strong: we have a unique business
model, excellent know-how and outstanding people to
offer our demanding customers tailored and integrated
financial solutions. We have a diverse pool of talent strate-
gically positioned around the world, and are committed to
our clients for the long term.
COMPANY hIStORY
Deutsche Bank AG, one of the largest financial institu-
tions, was created through the union of premier financial
organizations. All have long histories and proud traditions;:
Deutsche Bank traces its European origins back to 1870;
Alex Brown’s American legacy started in the year 1800;
and Bankers Trust dates its American heritage to 1903.
In 1997, Bankers Trust, then the eighth largest bank,
entered an agreement to merge with Alex. Brown,
America’s oldest investment bank, in a deal valued at $2.2
billion. The merger was inspired by the need to compete
for corporate clients in an increasingly global arena.
In 1999, Deutsche Bank purchased Bankers Trust. This
merger created a global platform to expand investment
banking domestically and abroad, while offering a vari-
ety of products to clients. As the firm’s employees became
acquainted with their colleagues, the groups discovered
similarities between their organizations that transcended
borders and cultures. Not only did the firms share long and
distinguished histories, all have demonstrated time and
again the ability to identify opportunities created by change.
Together they form a transatlantic and global presence
second to none. The combined organization is truly world
class in the scope of its operations, the range of its prod-
ucts, the quality of its service, the power of its technology
and—perhaps most important—the caliber of its people.
Today’s Deutsche Bank represents not just the best of pre-
decessor institutions, but something more: a genuine example
of synergy, a whole greater than the sum of its parts.
hOw/whY wE ARE dIFFERENt
As an employer with the platform to lift careers to the
next level, we foster a diverse, inclusive work environment
that encourages new ideas. We pride ourselves on build-
ing a long-term relationship with our employees through
developmental support that begins with your entry into
the global graduate programs.
The Global Associate program is designed to be pro-
gressive and fully aligned to the needs of the business. The
global Development team designs and delivers compre-
hensive induction training and continuous development
modules for all Associate Graduate Programs at Deutsche
Bank. The Induction Programs are held annually in New
York and London, and are designed to prepare successful
Associates for their career at Deutsche Bank by providing
trainees with exposure to the financial markets, products
and investment services. A continuous career develop-
ment program is also provided to graduate trainees upon
completion of the Induction Program.
An additional aspect of this focus on development is a
mentoring program which is designed to provide senior
management exposure and a confidential sounding board
upon entering the hired division.
As one of the world’s leading financial institutions, we
provide the platform to take your career forward. You will
participate in first-rate training programs, create eye-level
partnerships and be part of diverse and aspirational work-
place. We give you the chance to make a difference.

hOw wE ARE ORGANIZEd
Deutsche Bank comprises three Group Divisions: the
Corporate and Investment Bank (CIB), Private Clients and
Asset Management (PCAM) and Corporate Investments (CI).
Corporate and Investment Bank (CIB)
The Corporate and Investment Bank Group Division, or
CIB, is responsible for Deutsche Bank’s capital markets
business, comprising the origination, sales and trading of
capital markets products including debt, equity, and other
securities, together with our corporate advisory, corporate
lending and transaction banking businesses.
Global Markets is responsible for the origination, sale,
structuring and trading of fixed income, equity, commodity,
foreign exchange, derivative, and money market products.
74
Global Banking comprises Corporate Finance Coverage,
M&A, Equity Capital Markets, Corporate Banking
Coverage and Real Estate both for large caps as well as mid-
cap clients. The bank’s Trade Services, Cash Management
and Custody/Corporate Trust are also an intergral part of
this pillar of CIB.
With this structure, we are able to cross-sell more
aggressively capital markets products and services to one
of the premier corporate client portfolios in the world.

Private Clients and Asset Management (PCAM)
The Private Clients and Asset Management Group
Division, or PCAM, comprises Deutsche Bank’s invest-
ment management business for private and institutional
clients, together with our traditional banking activities for
private individuals and small and medium-sized business-
es. PCAM comprises two Corporate Divisions: Asset and
Wealth Management and Private & Business Clients.
• Asset and Wealth Management:
Asset Management provides institutional clients,
including pension funds and insurance companies,
with a full range of services including traditional asset
management, alternative assets, sophisticated absolute
return strategies and real estate asset management.
Asset Management also provides retail clients across
the globe with mutual fund products through our DWS
and DWS Scudder franchises.
Private Wealth Management serves high net worth indi-
viduals and families worldwide with a fully-integrated
wealth management service embracing portfolio man-
agement, tax advisory, inheritance planning; and
philanthropic advisory services.
• Private & Business Clients:
Private & Business Clients (PBC) provides private individ-
uals and small businesses with a full range of traditional
banking products, including current accounts, deposits
and loans, investment management products, and busi-
ness banking services. PBC operates outside Germany
predominantly in European markets including Italy and
Spain, but also in Belgium and Portugal. It is currently
expanding into important emerging markets in Central
and Eastern Europe, such as Poland, and in Asia, includ-
ing India and China.
dESCRIPtION OF GLObAL PRESENCE
Deutsche Bank now extends beyond 75 countries and over
75,000 employees.
hOME OFFICE LOCAtION
Frankfurt, Germany
MANAGEMENt/OFFICERS
Chairman of the Group Executive Committee – Josef
Ackermann
LINK tO bASIC FINANCIALS
www.db.com/ir/
dESCRIPtION OF OFFICE CuLtuRE
Deutsche Bank is a true meritocracy. Career progress
in large part depends on how well an employee handles
responsibility. The more one can manage, the more one will
be given to do. The Bank is looking for powerful minds and
creative spirits with the aptitude for innovation. Successful
associates possess the natural drive required to succeed in
the banking business. They take ownership of their proj-
ects with minimum supervision and they reap the rewards
of their successes. With carefully planned training and
guidance, and the right initiative on their part, they will
deliver solutions and add value to the Bank’s clients.
RESOuRCES
Awards won:
www.db.com/en/content/company/awards.htm
Link to employee profiles:
www.db.com/careers
Link to recent news:
www.db.com/presse/en/content/
FuLL-tIME POSItIONS
If you have two to five years work experience and are
studying towards an MBA, you are invited to apply to our
Associate Training Program in either Asset Management,
Global Markets or Global Banking. For more details on
these roles, please visit www.db.com/careers.
INtERNShIP POSItIONS
Candidates pursuing an MBA and about to complete their
first year, or those with a 10 week holiday during their study,
are invited to apply to our Associate Summer Internship
Program in either Asset Management, Global Markets
or Global Banking. For more details on these roles, please
visit www.db.com/careers.
COMMON u.S. hIRING LOCAtIONS
CA, IL, MA, MD, NY, TX
COMMON INtERNAtIONAL hIRING LOCAtIONS
Germany, Hong Kong, Japan, Singapore, UK, USA
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dIAMONd MANAGEMENt
(FORMERLY DIAMONDCLUSTER INTERNATIONAL)
Jungle Profile
uRL
www.diamondconsultants.com
OFFICE hEAdQuARtERS
Chicago, IL
PhONE
312-255-5000
MANAGEMENt
Adam Gutstein, President and CEO
dESCRIPtION
Diamond is a management and technology consulting firm
with locations in the United States, London and Mumbai
which serves industries including consumer packaged
goods, financial services, logistics, manufacturing, retail
and distribution, telecommunications, healthcare, insur-
ance, and public sector organizations.
[E]
ELI LILLY
Jungle Profile
uRL
www.lilly.com
OFFICE hEAdQuARtERS
Indianapolis, Ind.
PhONE
317-276-2000
MANAGEMENt
Sidney Taurel, Chairman and CEO
dESCRIPtION
Eli Lilly is a 130-year-old pharmaceutical company with
42,000 employees in 60 countries. Top products include
Cialis®, Prozac® and Ceclor®, which is the world’s top-sell-
ing oral antibiotic. These and other products are sold in 143
countries worldwide.
ERNSt & YOuNG
Jungle Profile
uRL
www.ey.com
OFFICE hEAdQuARtERS
New York
PhONE
212-773-3000
MANAGEMENt
James Turley, chairman and CEO
dESCRIPtION
With 700 locations in 140 countries, Ernst & Young is a
leading accounting firm providing a broad array of ser-
vices, including tax reporting and operations, tax advisory,
business risk services, technology and security risk servic-
es, transaction advisory, human capital services, and legal
services.
[F]
FEdERAL RESERvE bANK
OF NEw YORK
Company Profile
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www.newyorkfed.org
AddRESS
33 Liberty Street
Floor 2M
New York, NY 10045
PhONE
212-720-6040
FAx
212-720-8424
CONtACt
Denise Koster, Staff Director-Professional and Campus
Recruitment
Erika Vandervoort, Undergraduate Recruiter
Michael Embry, Graduate Recruiter
INduStRY
Public Policy/Nonprofit
76
dESCRIPtION OF hIRING PROCESS
For employment consideration, job seekers must apply
using the online application available on the New York
Fed’s career website. If a suitable opening exists, a represen-
tative of the Campus Recruitment Staff will contact you.
hOw tO APPLY
For a complete list of current openings and instructions on
how to apply, please visit our website. (No phone calls please.)
ON-CAMPuS EvENtS CALENdAR
www.newyorkfed.org/careers
MESSAGE tO INtERNAtIONAL StudENtS
For full- and part-time consideration, candidates must be
legally authorized for employment in the United States
on a multi-year basis for more than practical training pur-
poses. (Authorization under a student visa to engage in
practical training does not satisfy this requirement.)
Hire non-US citizens: Yes
Sponsor for H-1B visas: No
MESSAGE tO wOMEN/MINORItIES
The Federal Reserve Bank of New York values and is com-
mitted to a diverse workforce.
OvERvIEw OF OuR COMPANY:
The Federal Reserve Bank of New York is one of 12 regional
Reserve Banks which, together with the Board of Governors
in Washington, D.C., comprise the Federal Reserve System.
The “Fed,” as the system is commonly called, is an inde-
pendent governmental entity created by Congress in
1913 to serve as the central bank of the United States. It is
responsible for formulating and executing monetary policy,
supervising and regulating depository institutions, provid-
ing an elastic currency, assisting the federal government’s
financing operations and serving as the banker for the U.S.
government. In addition, it has important roles in operat-
ing the nation’s payments systems, protecting consumers’
rights in their dealings with, banks and promoting commu-
nity development and reinvestment.
The 12 Reserve Banks supervise and regulate bank
holding companies as well as state chartered banks in their
District that are members of the Federal Reserve System.
Each Reserve Bank provides services to depository insti-
tutions in its respective District and functions as a fiscal
agent of the U.S. government.
hOw/whY wE ARE dIFFERENt
At the Federal Reserve Bank of New York, you’ll help keep
the banking industry robust and secure, and represent the
United States in the monetary arena. It’s a challenge that
demands the skills of a Wall Street professional and the
intellectual curiosity of an academic, all combined with a
passion for public service.
hOw wE ARE ORGANIZEd
The New York Fed has supervisory jurisdiction over the
Second Federal Reserve District, which encompasses New
York state, the 12 northern counties of New Jersey, Fairfield
County in Connecticut, Puerto Rico, and the Virgin Islands.
Though it serves a geographically small area compared with
those of other Federal Reserve Banks, the New York Fed is the
largest Reserve Bank in terms of assets and volume of activity.
Additionally, there are two regional offices located in
Utica, N.Y. and East Rutherford, N.J. The Utica office han-
dles check processing for the upstate New York area, while
the East Rutherford office handles check processing for
New Jersey and the New York metropolitan area.
hOME OFFICE LOCAtION
New York, NY
MANAGEMENt/OFFICERS
Timothy F. Geithner, President
Christine M. Cumming, First Vice President
dESCRIPtION OF OFFICE CuLtuRE
Pursuing an important and challenging career should not
require giving up all other dimensions of your life. We
believe in balance. Our employees take on challenging
assignments and contribute to decisions that affect the
economic health of entire nations and millions of people.
Our employees also devote time to their families, friends
and communities. The Fed’s generous benefits package
and career development opportunities help employees
achieve a balanced life.
AbOut OuR PEOPLE
It takes great minds with different perspectives, back-
grounds, experiences and beliefs to best shape national and
international financial policy in a rapidly changing world.
The Federal Reserve Bank of New York has a reputation
for independent and objective thinking. We are a trusted
intermediary at the crossroads of the public and private
sectors as well as domestic and international financial sys-
tems. The Bank maintains its reputation with a diverse,
talented staff that is deep in expertise and committed to
public service.
Our mission is to provide a work environment where
each staff member feels respected, valued, and included.
We strive to be a place where everyone has the opportunity
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to contribute, exchange ideas and be recognized based on
performance. All of our leaders are responsible for imple-
menting these objectives by fully engaging the Bank’s
diverse workforce.
RESOuRCES
Link to employee profiles: www.newyorkfed.org/careers/
Link to recent news: www.newyorkfed.org/newsevents/
POSItIONS
Full-time positions: Bank Examiner, Financial/Economic
Analyst, Trader Analyst
Number of full time hires: Varies
Summer positions (interns):
– Graduate Summer Analyst Program
– Undergraduate Summer Analyst Program
Number of summer hires (interns): Varies
Percent of last summer’s hires extended to full–time
positions: 85%
Common U.S. hiring locations: NY
SPECIAL PROGRAMS
The Professional Development Program provides new
examiners with a solid understanding of the Bank
Supervision’s business activities through a variety of short-
term assignments, as well as formal training.
bENEFItS SuMMARY
Comprehensive benefits, on-site medical staff, wellness
programs, fitness center, competitive compensation pro-
grams, matching thrift plan (up to 6 percent annually), bank
funded pension plan, flexible spending accounts, (home,
life, and auto insurance), financial planning, commutation
reimbursement, 15 days vacation, 12 paid holidays, flex-
ible work arrangements, marriage leave, tuition assistance,
domestic partner/dependent benefits, adoption assistance,
subsidized cafeterias, corporate discounts, and a business-
casual dress policy
FIdELItY INvEStMENtS
Jungle Profile
uRL
www.fidelity.com
OFFICE hEAdQuARtERS
Boston
PhONE
617-563-7000
MANAGEMENt
Edward C. Johnson III, Chairman and CEO
dESCRIPtION
No longer just a mutual fund company, Fidelity Investments
is a group of privately held companies that provide a wide
array of financial and asset management services to 23 mil-
lion individual and thousands of institutional clients.
[G]
GENERAL MILLS
Jungle Profile
uRL
www.generalmills.com
OFFICE hEAdQuARtERS
Minneapolis, MN
PhONE
763-764-7504
MANAGEMENt
Stephen W. Sanger, Chairman and CEO
dESCRIPtION
General Mills markets many of the most widely known
consumer food brands. These include cereals like Cheerios,
Pillsbury baked goods, Progresso soups, Yoplait yogurts,
Häagen Dazs ice cream, and Green Giant vegetables.
GOLdMAN SAChS
Company Profile
uRL
www.gs.com/careers
tICKER
GS
AddRESS
85 Broad Street
New York, NY 10004
USA
PhONE
212-902-1000
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INduStRY
Investment Banking
Investment Management
Sales and Trading
whAt’S NEw
Check out gs.com/careers for the latest information about
career opportunities at Goldman Sachs.
MESSAGE tO MbA CANdIdAtES:
As stated in our Business Principles, “we offer our people
the opportunity to move ahead more rapidly than is possi-
ble at most other places.” This principle is put into practice
through formal and on-the-job training. We have yet to
find the limits of responsibility that our people are able to
assume when given the opportunity to work side by side
with our clients, with the daily support of our senior pro-
fessionals.
Goldman Sachs has a breadth of businesses that offer
our people a variety of different opportunities at all lev-
els across all regions and business areas. New Associates
at Goldman Sachs will be able to build a broad-based skill
set that is applicable to a number of opportunities within
Goldman Sachs and beyond. You will work in a collegial
environment where people take the time to properly train,
mentor and support you to maximize your personal devel-
opment.
Very early in your career, you will find yourself in a
challenging and exhilarating work environment where
you can expect to:
• Receive on-the-job learning complemented by formal
training provided by Goldman Sachs University;
• Quickly assume significant responsibilities for products,
clients, industries or firm business functions;
• Engage in entrepreneurial opportunities;
• Travel globally;
• Gain career mobility options within two years;
• Develop lasting relationships with Goldman Sachs execu-
tives and senior client executives;
• Work hard as a member of both a specific team and the
greater Goldman Sachs team.
Description of hiring process:
Goldman Sachs conducts on-campus recruiting efforts at
top graduate and business schools globally. However, we
welcome applications from MBA and graduate students
from all schools.
At the associate level, your first interview with us will
be with the region(s) and/or division(s) you selected on your
application. The first interview is designed to help us get
to know you and determine your suitability for a particular
area of the firm. It’s also an opportunity for you to ask ques-
tions about us. The interview is held on campus or in our
offices with up to two Goldman Sachs professionals from the
same division. As a result of interviewing with more than
one region or division, associate candidates may receive two
separate invitations to interview in a second-round process.
hOw tO APPLY
Apply online at www.gs.com/careers. Our Web site will
also provide you with information regarding the appli-
cation process. Some business schools also require their
students to apply through the career service office. Please
check with your career center for school rules.
ON-CAMPuS EvENtS CALENdAR
https://filesv7.wcn.co.uk/company/gs/events.html

GENERAL INtERvIEw AdvICE
Come prepared for the interview. We like to see people
who have done their homework on Goldman Sachs and
the more you can demonstrate that, the better. Have a
few questions ready, either about our firm, specific divi-
sions and/or what it is like working here. While we want
to find out about your motivation and ability, it is equally
important that you get to know more about us in order
to decide whether or not you would enjoy it here. One
of the most important things to remember is to just be
yourself—we don’t want to hire someone who’s acted
throughout an interview. Lastly, relax! You are there
because you are intelligent and well qualified—you just
need to demonstrate it.
whAt wE LOOK FOR
Goldman Sachs looks for individuals with an outstanding
academic record. We seek professionals who have personal
integrity, initiative, leadership qualities, and intellectual
curiosity. Also essential is an ability to work as part of a team
in an environment that demands excellence and dedication.
During an interview, we look for ways in which you can
demonstrate these traits; we want to know about the ways
in which you have challenged yourself to excel, where you
have served as a team leader or an active team participant,
and instances in which your innovation and creative think-
ing have generated successful outcomes. Additionally,
we look for people with passion, energy, and enthusiasm
matched with a sense of poise and purpose.
COMMON INtERvIEw QuEStIONS:
The first interview is designed to help us get to know you
and determine your suitability for a particular area of the
firm. We will generally focus on your past achievements,
both personal and academic, as well as your work experience.
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We might ask you about the skills you have acquired, either
through your work experience or extracurricular activi-
ties. We will ask questions about projects you’ve completed,
teams you’ve served on and the roles you’ve played within
them, what motivates you, and the most important things
you do in your free time. We often point to examples you’ve
cited on your online application so you should be prepared
to discuss what you listed there. Also, be prepared to discuss
your interest in a career at an investment bank, especially
if your prior work experience is in a different industry. We
will also ask you to talk about your leadership skills, your
ability to be a team player, and your comfort with numbers
and quantitative analysis. The first–round interview is also
an opportunity for you to ask questions about us.
During the second and subsequent rounds of interviews,
we will continue to assess your compatibility with the firm
and test your knowledge of the industry.
Message to international students:
As the global environment becomes ever more competi-
tive, finding the most innovative and creative solutions to
our clients’ needs will remain the most important com-
petitive advantage for our business. We hire international
students into many of our offices. At Goldman Sachs, we rec-
ognize that our ability to maintain and strengthen our edge
requires a diverse workforce that can offer the widest pos-
sible range of perspectives. Our people represent more than
150 nationalities and we speak over 84 different languages,
creating a wealth of talent and creativity where exceptional
individuals work together to provide a world-class service
to a broad spectrum of clients. Learn more about our inter-
national opportunities at www.gs.com/careers.
Goldman Sachs opened its first European office in 1970
in London and now has affiliated offices in Frankfurt,
Madrid, Milan, Paris, Moscow, and other major European
cities. Goldman Sachs is one of the leading employers in
the UK and has grown successfully to become a leading
investment banking, securities, and investment manage-
ment firm in Europe. We provide innovative services and
products to the local markets, offering distinctive capa-
bilities to help them capitalize on opportunities worldwide.
Our European offices bring together a diverse group of
professionals who help create a dynamic and challenging
environment in which to work. In these offices, we offer
opportunities to candidates across all Goldman Sachs lines
of businesses.
Asia is one of the most economically diverse regions in
the world. This area already has an established presence
in the global economic community, and Goldman Sachs’
presence here is significant and growing. Goldman Sachs
has been setting the standard for innovation, performance
and service in the investment banking and securities
industry in the region for over 30 years. Outside of Japan,
we have three major hubs in Asia: Beijing, Hong Kong,
and Singapore. Since the 1983 opening of our Hong Kong
office, we have broadened our Asian operations by opening
new offices in the major hubs, as well as in Taipei, Seoul,
Bangalore, Mumbai, Dubai, and Shanghai. Goldman Sachs
offers long-term, intellectually stimulating opportunities
to individuals with energy and vision.
MESSAGE tO wOMEN/MINORItIES
Recruitment into Goldman Sachs has a single guiding
principle. We make an unusual effort to identify the very
best person for every job and we are committed to provid-
ing equal employment opportunity to all qualified persons.
For us to be successful, our men and women must reflect
the diversity of the communities and cultures in which we
operate. That means we must attract, retain, and motivate
people from many backgrounds and perspectives.
We believe that our culture, built on teamwork and
excellence, affords opportunities for everyone to have an
important impact on the building of our businesses. We
are constantly striving towards a more diverse workplace,
both for the benefit of the firm and in order to more suc-
cessfully meet the needs of our clients.

OvERvIEw OF OuR COMPANY
Goldman Sachs is a global investment banking, securi-
ties and investment management firm. We provide a wide
range of services to a substantial and diversified client base
that includes corporations, institutional investors, gov-
ernments, non-profit organizations and high-net-worth
individuals. Our headquarters is in New York, and we
maintain significant offices in London, Frankfurt, Tokyo,
Hong Kong and other financial centers around the world.
CORPORAtE MISSION ANd/OR StRAtEGY
Goldman Sachs has long sustained a commitment to hiring
and training outstanding leaders. Our business principles
are rooted in integrity, a commitment to excellence, inno-
vation, meritocracy, and teamwork. These values enable
us to execute successfully a business strategy focused on
extraordinary client service and superior long-term finan-
cial performance for our shareholders.
We conduct our business in increasingly complex
markets. Our people must continually find new ways to
provide access to capital, manage risk and provide invest-
ment opportunities for our clients to enable them to
realize their goals. We judge ourselves on our ability to
help clients anticipate and respond to changing market
conditions, and to create opportunities that merit the trust
they place in us.
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COMPANY hIStORY
In 1869, Marcus Goldman, a German immigrant to New
York City, founded one of the world’s oldest and largest
investment banking, securities and investment manage-
ment firms. Mr. Goldman pioneered the use of short-term
unsecured corporate debt securities-- commercial paper as
it became known -- during a time of tight credit in his one
room office on Pine Street, in lower Manhattan. In the 1880s,
as his firm and its reputation grew, his son-in-law Samuel
Sachs joined the firm as did his son. Our commitment to
our clients is rooted in Goldman Sachs’ distinctive culture
and has been the firm’s foundation and fuel throughout
our 136-year history. After more than a century as a private
partnership, the firm became a public company in 1999.
For more information about our history visit
www.gs.com.
hOw wE ARE ORGANIZEd
We seek to be the advisor of choice for our clients and a lead-
ing participant in global financial markets. Our strategy is
to grow our core businesses—Investment Banking, Trading
and Principal Investments and Asset Management and
Securities Services—in markets throughout the world.
The activities of our Investment Banking segment
are divided into two categories: Financial Advisory and
Underwriting.
The activities of our Trading and Principal Investments
segment are divided into three categories: Fixed Income,
Currency and Commodities, Equities and Principal
Investments.
The activities of our Asset Management and Securities
Services segment are divided into three categories: Asset
Management, Securities Services, and Commissions.
dESCRIPtION OF GLObAL PRESENCE
Goldman Sachs operates in key regions worldwide: the
Americas, Europe, Asia and Japan.
hOME OFFICE LOCAtION
Goldman Sachs is headquartered in New York City.
MANAGEMENt/OFFICERS
Lloyd C. Blankfein, Chairman and Chief Executive Officer
Gary D. Cohn, President and Co-Chief Operating Officer
Jon Winkelried, President and Co-Chief Operating Officer
CLIENtS/INduStRIES SERvEd
Goldman Sachs provides a wide range of services world-
wide to a substantial and diversified client base, across all
industries, that includes corporations, financial institutions,
governments, non profits and high net worth individuals.
LINK tO bASIC FINANCIALS
www.gs.com
FOuNdING PRINCIPLES
All business at Goldman Sachs is conducted in accordance
with our 14 Business Principles:
1. Our clients’ interests always come first. Our expe-
rience shows that if we serve our clients well, our own
success will follow.
2. Our assets are our people, capital and reputation. If
any of these is ever diminished, the last is the most difficult
to restore. We are dedicated to complying fully with the let-
ter and spirit of the laws, rules and ethical principles that
govern us. Our continued success depends upon unswerv-
ing adherence to this standard.
3. Our goal is to provide superior returns to our share-
holders. Profitability is critical to achieving superior returns,
building our capital, and attracting and keeping our best
people. Significant employee stock ownership aligns the
interests of our employees and our shareholders.
4. We take great pride in the professional quality of
our work. We have an uncompromising determination to
achieve excellence in everything we undertake. Though
we may be involved in a wide variety and heavy volume
of activity, we would, if it came to a choice, rather be best
than biggest.
5. We stress creativity and imagination in everything
we do. While recognizing that the old way may still be the
best way, we constantly strive to find a better solution to a
client’s problems. We pride ourselves on having pioneered
many of the practices and techniques that have become
standard in the industry.
6. We make an unusual effort to identify and recruit the
very best person for every job. Although our activities are
measured in billions of dollars, we select our people one by
one. In a service business, we know that without the best
people, we cannot be the best firm.
7. We offer our people the opportunity to move ahead
more rapidly than is possible at most other places.
Advancement depends on merit and we have yet to find
the limits to the responsibility our best people are able to
assume. For us to be successful, our men and women must
reflect the diversity of the communities and cultures in
which we operate. That means we must attract, retain and
motivate people from many backgrounds and perspectives.
Being diverse is not optional; it is what we must be.
8. We stress teamwork in everything we do. While indi-
vidual creativity is always encouraged, we have found that
team effort often produces the best results. We have no
room for those who put their personal interests ahead of
the interests of the firm and its clients.
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9. The dedication of our people to the firm and the
intense effort they give their jobs are greater than one
finds in most other organizations. We think that this is an
important part of our success.
10. We consider our size an asset that we try hard to pre-
serve. We want to be big enough to undertake the largest
project that any of our clients could contemplate, yet small
enough to maintain the loyalty, the intimacy and the esprit
de corps that we all treasure and that contribute greatly to
our success.
11. We constantly strive to anticipate the rapidly chang-
ing needs of our clients and to develop new services to
meet those needs. We know that the world of finance will
not stand still and that complacency can lead to extinction.
12. We regularly receive confidential information as part
of our normal client relationships. To breach a confidence
or to use confidential information improperly or carelessly
would be unthinkable.
13. Our business is highly competitive, and we aggres-
sively seek to expand our client relationships. However, we
must always be fair competitors and must never denigrate
other firms.
14. Integrity and honesty are at the heart of our business.
We expect our people to maintain high ethical standards in
everything they do, both in their work for the firm and in
their personal lives.
dESCRIPtION OF OFFICE CuLtuRE
Working at Goldman Sachs means being a part of a com-
munity that offers constant support, both professionally
and personally. It’s an environment that fosters leadership,
and provides an opportunity to succeed through a team-
work-based environment. The atmosphere is collegial
and supportive, though challenging. The firm is known as
being extremely competitive, which is true; however, we
are competitive in the marketplace, not with one another.
AbOut OuR PEOPLE
Across every division of Goldman Sachs, you will find
people with all various skills and backgrounds, well
beyond business or finance. People with diverse edu-
cational backgrounds, work experiences and personal
interests thrive at our firm because they are all united
by something unique - a desire to excel, to challenge
themselves and to push their own professional bound-
aries to seek new successes. It’s inherent within the
environment – we challenge one another to grow and
exceed our own limits.
LINK tO EMPLOYEE PROFILES
gs.com/careers
LINK tO RECENt NEwS
gs.com
FuLL-tIME POSItIONS
New Associate positions are filled by those with two to five
years of work experience and/or an advanced degree (e.g.,
MBA). New Associates at Goldman Sachs are an integral
part of our business. We consider our incoming associ-
ate class to be a key pipeline for leadership positions and
offer associate hires significant responsibility in supervis-
ing analysts and working closely with Vice Presidents and
Managing Directors.
Depending on the division, you may quickly assume
product or client responsibilities, or you may be respon-
sible for a particular industry. In most divisions, a new
associate may expect to: receive on-the-job learning, com-
plemented by formal training; quickly assume significant
responsibilities for products, client, industries or the firm’s
business functions; engage in entrepreneurial opportuni-
ties; travel globally; develop lasting relationships with
Goldman Sachs executives and senior client executives.
Number of full time hires: N/A
SuMMER POSItIONS (INtERNS)
Summer associate positions are offered to students between
their first and second years of business school or a graduate
program. Spending a summer at Goldman Sachs tackling real
projects is a wonderful way for you to discover the diversity,
intensity and excitement of our business. We are always looking
for the best people to hire and the summer associate program
acts as an important feeder for the firm’s full-time hiring.
Number of summer hires (interns): N/A
COMMON u.S. hIRING LOCAtIONS
CA, FL, GA, IL, MA, NJ, NY, PA, TX, UT, WA
COMMON INtERNAtIONAL hIRING LOCAtIONS:
Argentina, Australia, Brazil, Canada, China, France,
Germany, India, Ireland, Italy, Japan, Korea South, Mexico,
Monaco, New Zealand, Russia, Singapore, South Africa,
Spain, Sweden, Switzerland, Taiwan, Thailand, UK,
United Arab Emirates, USA
SPECIAL PROGRAMS
Goldman Sachs offers three programs for business school
students from traditionally underrepresented groups:
MbA FELLOwShIP
Initiated in 1997, the Goldman Sachs MBA Fellowship
is designed to increase the level of interest in and aware-
ness of careers in the industry among Black, Hispanic and
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Native American business school students. Through the
program, Goldman Sachs offers fellowships to students at
target graduate business schools annually.
The Goldman Sachs MBA Fellowship is offered at
the following schools: Columbia Business School, Duke
University Fuqua School of Business, Harvard Business
School, Massachusetts Institute of Technology Sloan School
of Management, Northwestern University Kellogg School
of Management, Stanford Graduate School of Business,
University of California at Los Angeles Anderson School
of Management, University of Chicago Graduate School of
Business, University of Michigan Ross School of Business,
and University of Pennsylvania Wharton School.
GS CAMP
Goldman Sachs Camp provides an opportunity for black,
Hispanic and Native American students to explore the
investment banking industry before entering business
school. The two-and-a-half day program includes case
studies, divisional presentations, career workshops and
social events. Through this event, we meet potential can-
didates for summer associate positions months in advance
of the formal interview process.
wOMEN’S SuMMIt FOR FIRSt-YEAR MbA StudENtS
Through an interactive program of presentations, net-
working sessions and panel discussions, participants will
be exposed to the key areas of the firm and senior inspira-
tional role models. This one-day program in New York is a
great opportunity to network with Goldman Sachs people
and receive advice from alumni about the recruiting pro-
cess and career opportunities at our firm.
dESCRIPtION OF tYPICAL PROjECt
Projects at Goldman Sachs vary by divisions. To learn more
about our divisions and our people, visit www.gs.com/
careers.
OuR COMMItMENt tO OuR PEOPLE
Goldman Sachs offers a competitive benefits and compen-
sation package for all employees. In addition to the standard
health and welfare, dental, and retirement programs,
we are proud to sponsor the Wellness Exchange, a global
initiative that supports healthy lifestyles. The Wellness
Exchange offers a comprehensive selection of programs
to address the diverse needs and interests of employees.
Our goal is to assist employees in optimizing their work-
life balance and to enhance their quality of life. Through
the Wellness Exchange, we offer such benefits as on-site
fitness centers, on-site health centers, parental leave, and
adoption assistance.
OuR COMMItMENt tO thE COMMuNItY
As a company with offices in more than 25 countries and
40 cities around the world, Goldman Sachs recognizes the
power and visibility that we have in the world and seeks to
be a positive force. We take seriously our commitment to
building strong relationships in the communities in which
we live and work.
As part of that commitment, our Community
TeamWorks program gives members of the firm a day off
to work with colleagues in community service programs in
every city we have an office.
Additionally, The Goldman Sachs Foundation, found-
ed in 1999, has awarded grants of $94 million since it’s
inception, providing opportunities for young people in
more than 20 countries.
In 2004 we launched The Public Service Program (PSP).
This global initiative gives our high performers opportu-
nities both to work in a non-profit organization for up to
one year and to develop their leadership skills in a new
environment. The PSP underscores our commitment
to develop our most valuable resource, our people and
expands the platform for them to be catalysts for change in
their communities.
Goldman Sachs also supports numerous other ini-
tiatives, such as the Global Markets Institute and the
Community Capital Group. For more information about
our programs visit gs.com.
GOOGLE
Jungle Profile
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www.google.com
OFFICE hEAdQuARtERS
Mountain View, Calif.
PhONE
650-618-1806
MANAGEMENt
Eric Schmidt, Chairman and CEO
dESCRIPtION
Founded in 1998 by Stanford University PhD students
Larry Page and Sergey Brin, Google today is a top web
property in all major global markets, known for its No.
1 ranked search engine. Google’s targeted advertising
program provides businesses with measurable results,
while enhancing the overall web experience for users.
Google has offices throughout the Americas, Europe
and Asia.
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hARRAh’S
Company Profile
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www.harrahs.com
tICKER
HET
AddRESS
One Caesar’s Palace Drive
Las Vegas, NV 89109
PhONE
702-407-6000
CONtACt
Susan Hailey, Vice President Talent Acquisition
Christine Rury, Vice President of Leadership
INduStRY
General Management
Hospitality
Human Resources
Marketing/Brand Management
Media/Entertainment
whAt’S NEw
Harrah’s is now the largest and most geographically diverse
gaming company in the world, with over 40 properties in
seven countries. We look forward to international expansion
in the near future. We intend to hire double digit numbers
of MBAs this year into a variety of leadership development
programs. We are having more fun than ever!
MESSAGE tO MbA CANdIdAtES
We have exciting opportunities for first- and second-year
students in the area’s of general management, marketing,
finance, technology, and human resources. We are the
only gaming company that has actively recruited MBAs
on-campus for more than 20 years. We offer several rota-
tional leadership development programs across multiple
geographies.
dESCRIPtION OF hIRING PROCESS
Representatives from Harrah’s come on campus in the fall
for presentations and again in early spring for interviews. If
we don’t visit your school, you can send resumes to recruit-
ing@harrahs.com.
hOw tO APPLY
If we recruit on-campus at your school, please follow the
normal procedures. If we do not visit your school, you can
apply at recruiting@harrahs.com.
GENERAL INtERvIEw AdvICE
Do some research on the industry and the company. If you
have the chance to talk with someone who has completed
one of our programs, that’s a great way to learn more.
whAt wE LOOK FOR
Passion, flexibility, leadership, integrity, emotional intelli-
gence, analytical thinking
MESSAGE tO INtERNAtIONAL StudENtS
We are currently not sponsoring visas but this may change
as we pursue opportunities abroad.
Sponsor for H-1B visas: No

OvERvIEw OF OuR COMPANY
Founded in 1937, Las Vegas-based Harrah’s Entertainment,
Inc. is the world’s premier provider of branded casino
entertainment.
Harrah’s Entertainment owns or manages through various
subsidiaries more than 40 casinos in three countries, primar-
ily under the Harrah’s, Caesars, and Horseshoe brand names.
We provide great customer service in exciting and entertain-
ing environments, with the goal of becoming our customers’
overwhelming first choice for casino entertainment.
We concentrate on building loyalty and value for our
customers, shareholders, employees, business partners,
and communities by being the most service-oriented, geo-
graphically diversified company in gaming.
CORPORAtE MISSION ANd/OR StRAtEGY
Each of our brands will be the overwhelming first choice
for casino entertainment of its targeted customers.
COMPANY hIStORY
Founded in 1937 by Bill Harrah in Reno, Nevada.
hOw/whY wE ARE dIFFERENt
Our strategy is to provide unparalleled customer service to
differentiate our gaming entertainment offerings.
hOw wE ARE ORGANIZEd
In addition to our corporate offices in Las Vegas and
Memphis, we have four divisions that manage our prop-
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erties: Western (Las Vegas), Central (Memphis), Eastern
(Chicago/Atlantic City), and International (London and
Hong Kong).
dESCRIPtION OF GLObAL PRESENCE
Casinos in Ontario, Canada; Uruguay; UK, South Africa,
Macau, and Egypt. Development projects in the UK, Spain,
Bahamas, and Slovenia.
hOME OFFICE LOCAtION
Las Vegas, Nevada
MANAGEMENt/OFFICERS
CEO - Gary Loveman
CLIENtS/INduStRIES SERvEd
Adult Consumers
LINK tO bASIC FINANCIALS
www.harrahs.com
FOuNdING PRINCIPLES
Harrah’s commitment to responsible gaming led to the
development of the U.S. industry’s first-ever broadcast
advertising campaign focused specifically on respon-
sible gaming. Ads featuring CEO Gary Loveman
explain the importance of responsible gaming and how
responsible gaming is an important part of our Code of
Commitment.
The Harrah’s Code of Commitment seeks to promote
responsible gaming among Harrah’s customers, and codi-
fies the company’s commitment to employees and the
communities where Harrah’s casinos are located.
The Harrah’s Marketing and Advertising Code is
more stringent than the current voluntary American
Gaming Association guidelines. The Harrah’s advertis-
ing code also strictly prohibits marketing to minors, and
contains specific guidelines related to virtual casinos and
Internet sites.
dESCRIPtION OF OFFICE CuLtuRE
A high-performing culture driven to produce results and
fun!
AbOut OuR PEOPLE
We are a work/hard and play/hard environment. Our peo-
ple take their work seriously, but not themselves.
AwARdS wON
Numerous in the areas of IT, CRM Marketing, Gaming,
and Community and Government Affairs.
AddItIONAL RESOuRCES
“Jackpot”
By Bob Shook
How does one casino differentiate itself from another?
Harrah’s does it by developing customer loyalty instead
of theme casinos. Shook, a prolific business writer, has
detailed the history and business strategy of the Harrah’s
casino organization, from its 1937 founding to the present.
This book provides a fascinating look inside the gambling
industry.

hIRING INFORMAtION
Number of full time hires: 15-20
Number of summer hires (interns): 15-20
Percent of last summer hires extended full time positions:
80%

COMMON u.S. hIRING LOCAtIONS
AR, CA, IA, IL, IN, KS, LA, MO, MS, NC, NJ, NV, PA, TN
dESCRIPtION OF tYPICAL PROjECt
Brand re-positioning of a property. Analysis of entertain-
ment venues to increase revenue and profitability.
PROFESSIONAL CAREER PAth
After a one–year rotation through several facets of our
business and successful performance, PAs are promoted
to Managerial roles. The goal is to groom PAs for roles in
senior general management.
hOME dEPOt
Jungle Profile
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www.homedepot.com
OFFICE hEAdQuARtERS
Atlanta, GA
PhONE
888-818-9934
MANAGEMENt
Frank Blake, chairman and CEO
dESCRIPtION
Home Depot was founded in Atlanta, in 1978, and has
since become the world’s largest home improvement
retailer, operating more than 1,800 stores across North
America. The company targets both do-it-yourselfers
and professional customers who serve the home improve-
ment construction and building maintenance market
segments.
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hSbC SECuRItIES
Jungle Profile
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www.hsbcnet.com
OFFICE hEAdQuARtERS
London, U.S. headquarters in New York, NY
PhONE
212-525-3760
MANAGEMENt
Michael Geoghegan, Group Chief Executive
dESCRIPtION
HSBC Group is one of the largest banking and financial
services organizations in the world, providing personal
financial services, commercial banking, corporate, invest-
ment banking and markets, and private banking.
[j]
jOhNSON & jOhNSON
Company Profile
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www.jnj.com/careers
tICKER
JNJ
AddRESS
One Johnson & Johnson Plaza
New Brunswick, NJ 08933
PhONE
732-524-0400
INduStRY
Health care
MESSAGE tO MbA CANdIdAtES
Throughout the Johnson & Johnson Family of Companies,
people get excited about their work. Careers here can be
platforms for making a difference in people’s lives. The
pace of our business, the nature of our products, and the
extraordinary growth opportunities stimulate employees
to be very active and spirited contributors.
The environment is entrepreneurial and team-orient-
ed, with the feel and flexibility of a small company. People
are energized and empowered toward innovation, and
individuals can really make a difference. At the same time,
our big-company impact provides stability, resources, tech-
nical know-how, and world-class leadership development
capabilities. We know of no more fertile ground for grow-
ing a meaningful and satisfying career.
dESCRIPtION OF hIRING PROCESS
We recruit graduate business students for positions in the
U.S. primarily through on-campus visits and interviews
conducted by our operating companies. We also participate
in the annual conferences for organizations such as the
National Black MBA Association and the National Society
of Hispanic MBAs. Please visit us at our recruiting booth
during the career fair portion of these conferences.
Please explore the Career Opportunities section at www.
jnj.com/careers
hOw tO APPLY
You may apply for positions with Johnson & Johnson oper-
ating companies through the Career Opportunities section
at www.jnj.com/careers
whAt wE LOOK FOR
Johnson & Johnson companies seek people with demon-
strated leadership potential, along with a strong base of
education and skill in their functional career areas.
MESSAGE tO INtERNAtIONAL StudENtS
Each Johnson & Johnson company around the world has
responsibility for its own staffing. Our International
Recruitment & Development Program supports interna-
tional operating companies through the recruitment of
university students studying outside their home country.
University students are sourced for positions in Europe,
the Middle East, Africa, Latin America, and the Asia-
Pacific Regions. In theWestern Hemisphere (excluding the
United States), Johnson & Johnson targets MBA or master’s
degree-level students through a highly selective recruit-
ment process at top-ranked universities. Please contact
your Career Services/Placement Office for possible on-
campus events at your school.
MESSAGE tO wOMEN/MINORItIES
Respecting our employees as individuals by honoring
their differences and similarities is a value deeply embed-
ded in Our Credo. It is the fair and ethical thing to do,
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and it is good for business. In order to provide innovative
health care solutions for our diverse worldwide markets,
and in order to develop the next generation of leaders, we
need talented individuals who can bring a broad range of
thoughts and experiences to meet the challenges of our
global business.
OvERvIEw OF OuR COMPANY
Johnson & Johnson achieved $53.3 billion in sales in 2006
and, through its operating companies, is the world’s most
comprehensive and broadly based manufacturer of health
care products, as well as a provider of related services, for
the consumer, pharmaceutical, and medical devices and
diagnostics markets. The more than 250 Johnson & Johnson
operating companies employ over 122,500 men and women
in 57 countries and sell products throughout the world.
COMPANY hIStORY
Founded in 1886 as a manufacturer of ready-to-use antisep-
tic surgical dressings (a critical, landmark development in
the history of modern medicine), Johnson & Johnson grew
rapidly into an international enterprise that now impacts
nearly every area of global health care. Our long-term
growth and success are based on solid, ethical business
practices and a strong spirit of innovation that has kept
us on the cutting edge of medical science and technology
since the company’s founding. In 1943, the shared values
of the company were codified in Our Credo, a living docu-
ment that guides our business practices as strongly today as
it did in the mid-20th century.
hOw/whY wE ARE dIFFERENt
The entrepreneurial spirit is alive and well at Johnson &
Johnson. Our small-company environments allow employ-
ees to own their portion of the business and to feel their
impact on the bottom line. Developing strong, innovative
leadership is one of our top priorities, and to that end we
leverage the resources of a global business leader to achieve
big-company impact through world-class leadership devel-
opment, benefits, education, health and wellness programs,
and a satisfying work-life balance for our employees.
dESCRIPtION OF GLObAL PRESENCE
Johnson & Johnson has more than 250 operating companies
in 57 countries, selling products throughout the world. Our
global affiliates include names such as McNeil, Neutrogena,
Johnson & Johnson Consumer Products, Ortho-McNeil,
Ethicon, LifeScan, Ortho-Clinical Diagnostics, Janssen
Pharmaceutica, and others that are widely respected by
professionals in specialized fields such as vision care, bio-
technology, endoscopic surgery, joint replacement, wound
management, cardiology, gastrointestinal medicine, and
life-enhancement for people with disabilities.
MANAGEMENt/OFFICERS
William C. Weldon, Chairman of the Board and CEO
Dominic J. Caruso, Vice Chairman, Board of Directors, and
Chief Financial Officer
Christine A. Poon, Vice Chairman, Board of Directors
dESCRIPtION OF OFFICE CuLtuRE
Our work environment has the feel of a small compa-
ny, where individuals matter and make a difference. At
the same time, we are able to leverage our big-company
resources to achieve competitive advantage, maintain out-
standing facilities, treat our employees well, and have a
positive impact on communities and the environment.
AwARdS wON
• Barron’s – Most Respected Company (2006)
• Human Rights Campaign Foundation – “One of the Best
Places to Work” because of its commitment to equality in
the workplace (2006)
• ForTune magazine – Johnson & Johnson has been listed
in the ForTune “America’s Most Admired Companies
in 2006”. Johnson & Johnson ranked ninth overall as well as
second in the pharmaceutical industry. On ForTune’s
global “Most Admired List”, Johnson & Johnson finished
fourth; a place higher than last year’s fifth. (2006)
• Working Mother magazine – One the Top Ten Best
Companies for Working Mothers (2005)
• Black Collegian magazine – the second most “ideal
employer” (2005)
• Chief executive magazine – No. 1 Company for Leaders
(2003)
• Family Digest magazine - ranked Johnson & Johnson as
one of the top 10 Best Companies for African Americans to
work for within the United States (2003)
• See many more awards listed at www.jnj.com.
LINK tO EMPLOYEE PROFILES
http://www.jnj.com/careers
jPMORGAN
Company Profile
uRL
www.jpmorgan.com/careers
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COMPANY PROFILES
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JPM
AddRESS
270 Park Avenue
New York, NY 10017
PhONE
212-270-6000
INduStRY
Investment Banking
Sales and Trading
Research
whAt’S NEw
Our strategy is now starting to pay dividends. It takes time
for the figures to come through and longer still for the
trends to become clear. Our ultimate ambition is to seize
and sustain a position as the most profitable, respected, and
influential investment bank in the world, and we are on
our way. In 2006, we achieved a top-three ranking in each
of our core markets. In the same year, we advised on four
of the top five deals announced globally. In fact, with some
$890 billion worth of transactions, we were able to claim a
massive 23% share of the global M&A market. risk maga-
zine has named JPMorgan the Best Derivatives House in
the industry over the past twenty years and the best ‘Credit
Derivatives - a Pioneer and Modern Great’. We also ranked
us No. 1 globally in investment banking fees banking fees
for 2006 (Dealogic). It’s not over yet, of course. This is a
competitive sector and we have a fight on our hands. The
question is, whose side will you be on?
FantasyFutures, JPMorgan’s online trading competition
is back again this October 1 through November 30, 2007.
More than 6,000 students are now playing globally.. Play
and compete this fall for weekly prizes, including a trip to
New York City and a private tour of our trading floor. The
grand prize is an international visit to JPMorgan head-
quarters in London or Hong Kong – your choice Check
out jpmorgan.com/fantasyfutures to play. It’s a great way
to test your trading skills, impress our traders and learn
something new.
Do you know of a worthy cause that deserves some seri-
ous investment? JPMorgan is sponsoring Good Venture, a
case competition that offers you the chance to make a dif-
ference to a nonprofit that you’re passionate about. It’s also a
great opportunity to network with the business communi-
ty and practice exactly the kind of teamwork, analytic, and
communication skills we look for in top candidates. You
choose an existing non-profit organization and put a team
together to make your case. Compose a short proposal,
explaining why your cause deserves funding. JPMorgan will
choose the best submissions. If you are one of these short-
listed teams, you will be invited to JPMorgan headquarters
in New York City to present your case in the final round to
a panel of senior judges. And if your team wins? JPMorgan
will provide $25,000 of investment funding directly to your
chosen cause. For information and to sign up, visit jpmor-
gan.com/goodventure. This year, JPMorgan launched the
JPMorgan Launching Leaders MBA Scholarship program,
which gives talented Black, Hispanic and Native American
students the chance to fulfill their career ambitions and
carve out an outstanding reputation with one of the world’s
leading innovators in banking and business. To learn more,
please visit jpmorgan.com/launchingleaders.
MESSAGE tO MbA CANdIdAtES
Every day, JPMorgan is driving the future of global finance.
If you see yourself at the forefront of progress and success,
this is where you need to be. To stay at the cutting edge, we
look for the sharpest minds and the best talent at top schools
worldwide. Hiring the best and brightest does not end with
simply finding talented people to join us. We look to enhance
your skills and foster your development from your first
years as an Associate throughout your career. Vault voted
JPMorgan best training program out of all Investment and
Commercial Banks for 2008. We provide development
opportunities and to work on high-quality assignments in a
team environment that will undoubtedly ensure your suc-
cess and enrich your journey along the way. We look forward
to receiving your résumé and getting to know you. We hope
this information will help you get to know us and to discover
the many reasons why this is where you need to be.
dESCRIPtION OF hIRING PROCESS:
We visit top schools throughout the United States seek-
ing individuals who are not only the best and brightest,
but who reflect our firm’s spirit and culture. The recruit-
ing process begins in the fall with a variety of on-campus
informational events including presentations, panel dis-
cussions, and networking events with our campus teams.
In our ongoing effort to help you make the best career deci-
sion possible, we also offer trading simulations and case
competitions at many schools.
On-campus interviews for second-year MBA students take
place in late fall. You will generally be told how you’ve done
within 48 hours, and hopefully you’ll be invited to a second-
round interview. Second-round interviews take place within
a few weeks depending on the businesses, and we’ll tell you if
you’ve got an offer shortly thereafter. On our website, you can
find interviewing tips to give you some background on the
process, as well as to ease any stress you might experience.
The first-year MBA recruiting process begins after the New
Year. Interviews generally take place on campus and consist of
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two rounds. In most cases, we’ll let you know about the hiring
decision within 48 hours of the first interview. We hire the
majority of our full-time class through our summer program.
hOw tO APPLY
Check out jpmorgan.com/careers for information and specific
details about the application process. Also, take advantage of
the built-in resources designed to help answer your questions
and guide you on your job search.
ON-CAMPuS EvENtS CALENdAR
jpmorgan.com/careers
GENERAL INtERvIEw AdvICE
It is important to come to the interview with a solid under-
standing of the area you are applying to and why it suits
your interests and career aspirations. You should be able
to tell us which program you’d like to join, what you could
gain from the opportunity and how you would contribute.
The best source of information about our firm will often
be your own classmates and alumni who currently work at
the firm. They will be great resources for you to figure out
whether JPMorgan is a good fit.
To read what our people have to say about working here,
please visit our website and review the employee profiles.
Like you, many of them recently went through the job
search process, and their profiles will give you a realistic
perspective of what it is like to work at JPMorgan. Our
website also includes recent press, which will help to keep
you up to date on what’s happening at JPMorgan.
We want to learn as much as we can about you. We will
ask you to tell us about yourself, your interests and your
experiences during the interview. In return, we will be pre-
pared to answer your questions about us. We encourage you
to come prepared with questions in mind; your interview
is the best time to have them answered.
We want to enrich our culture and our business through
hiring unique, exceptional people. Your individuality is of
the utmost importance and relevance to us. It is the one
thing that only you can offer, so be yourself.
whAt wE LOOK FOR
We are hiring talent across the world and the opportuni-
ties are truly global. While the values and the business
principles remain consistent, we have different challenges
in different regions. This means that programs, roles and
career paths can also vary from one part of the world to
another. This is the natural consequence of being a global
bank that operates locally. On our website, the details of
our programs are organized by region, so you can apply
for the roles in the location that you want to work. It’s also
worth bearing in mind that we need globally versatile pro-
fessionals and there are opportunities for international
career development. Where you start is not necessarily
where you end up.
We want to meet people who are intellectually curious,
results-driven, team-oriented, innovative, and of course,
client-focused. What we mean by client-focused is that you
are solution-oriented, ethical, and that you operate with a
sense of urgency. In addition to these qualities, we expect
candidates to show that they have well-developed analyti-
cal, communication, and leadership skills, and are able to
work in a fast-paced team environment. We want you to
have demonstrated academic excellence and to have had
solid work experiences. Above all, we want you to want
to work at JPMorgan because you understand our mission
and view us as the best fit for a successful career path.
COMMON INtERvIEw QuEStIONS
We ask different types of questions to evaluate you on the
basis of a variety of skills, including your analytical abil-
ity, market and industry knowledge, teamwork, judgment,
and leadership. The first–round interview is generally 30
minutes in length. During the second round, you will meet
with multiple people for several interviews.

Below is a sneak peek at sample questions:
• Tell me about a significant assignment from either school,
an extracurricular activity or job where you worked with
others.
• Tell me about a time when you had to work with a diffi-
cult person or someone who was different than you.
• Tell me about a course project, assignment, extracur-
ricular, or work experience that represented a significant
challenge to you.
• You are advising a large technology company on an acqui-
sition of a smaller niche technology company. What are the
issues you would consider in valuing it?
• Which is more expensive – debt or equity? Why?
• Have you ever worked in a job dealing with clients? Tell
me about the most difficult client you’ve had. What did you
do? What was the best client experience you’ve had? What
did you do?
For more interviewing tips, please visit the Advice
Center at jpmorgan.com/careers.
MESSAGE tO INtERNAtIONAL StudENtS
The revenue from our global business is derived from activ-
ity all around the world (approximately 45 percent from
outside the United States). We have offices in more than
50 countries and are considered to be a “local” investment
bank throughout Europe, Asia, Latin America, and many
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COMPANY PROFILES
other regions. To maintain our international presence, we
actively recruit employees from around the world. Our Go
Global program exists to promote the opportunities you
can take advantage of across the world. If you’re an inter-
national student who wishes to work in the United States,
you can apply directly to one of our US-based programs.
And, if you’re an U.S.-based student who wishes to work
overseas, opportunities exist throughout Europe and Asia.
For hints and tips, lease visit jpmorgan.com/goglobal
Hire non-US citizens: Yes
Sponsor for H-1B visas: Yes
MESSAGE tO wOMEN/MINORItIES
We are deeply committed to cultivating an inclusive envi-
ronment where everyone can succeed based on merit. For
us, this simply makes good business sense. As an Equal
Opportunity Employer, we recognize that we are only as
successful as our people, and we want to draw from the
broadest, smartest talent pool in the world. We believe no
barrier should inhibit an individual from performing to her
or his full potential. Different perspectives bring strength
and creativity to our work and lead to the best solutions for
our clients. We—and our clients—have experienced first-
hand the benefits of being actively inclusive, operating as a
meritocracy, and embracing diversity to harness the talent
and experience of our best individuals.
These and other aspects of our culture enable creativity
and entrepreneurship to thrive. It draws the best talent to
JPMorgan and enables people to contribute, advance, suc-
ceed and be rewarded based solely on their capability and
character. Building a diverse and inclusive work environ-
ment requires effort and perseverance, which is why we
make inclusiveness and diversity an integral part of how
we manage the company.
At JPMorgan, responsibility for creating a diverse and
inclusive organization begins at the top. Our CEO, Jamie
Dimon, leads the Corporate Diversity Council: a group
of senior leaders from across the company, including the
Investment Bank, who set the vision and approach for
diversity at the firm. Progress on diversity objectives is
reviewed monthly by the executive management of the
firm and regularly with the Board of Directors. In addition,
managers understand that they are accountable for mak-
ing measurable, sustainable progress.
For example, within the Investment Bank, management
compensation is tied to performance against key people
objectives, which include recruiting the broadest possible
pool of talent, developing our employees through a range
of professional experiences, and creating an environment
where everyone has the opportunity to succeed and perfor-
mance is recognized and rewarded based on merit.
We’re proud of the many honors and awards we’ve
earned for our diversity efforts. Among the accolades we’ve
received are:
• Top 10 Companies for People With Disabilities’ by
DiversityInc magazine, 2007
• Named a ‘top 10’ company for diversity by DiversityInc
magazine, 2007
• ‘Top 50 Companies for Diversity’ by DiversityInc maga-
zine, 2007 and six previous years running
• ‘Leading Edge Company for LGBT Employees’ by
Stonewall, an LGBT advocacy organization in the U.K.,
2007 and previous year
• Named a ‘top 10’ family friendly company in Working
Mother’s ‘100 Best Companies’ for the past 11 years, 2007
• ‘Top MBA Employers for Women’ by Fortune magazine,
2006
• Named a top 50 employer for women in the U.K. in The
Times’ ‘Where Women Want to Work’ survey, 2006
• JPMorgan was the only investment bank to be named in
Vault’s ‘Top 10 Internship Programs,’ 2006
• BusinessWeek named JPMorgan Investment Bank 9th in
‘Best Places to Launch A Career,’ 2006
• ‘Top 50 companies’ by LATInA Style magazine, 2006 and
previous five years
• ‘Top Companies for Women of Color’ by Working Mother
magazine, 2006 and previous two years
• 100% rating on the Human Capital Index, an evaluation
conducted by the Human Rights Campaign to measure
how well major corporations treat their gay, lesbian, bisex-
ual and transgender employees and customers. Perfect
score for six years running, 2006
• ‘Top 10 Companies for Executive Women’ by DiversityInc
magazine, 2006
• ‘Top 10 Companies for Supplier Diversity’ by DiversityInc
magazine, 2006
• ‘Workplace Excellence Award 2006’ by Out & Equal, an
advocate group devoted to the lesbian, gay, bisexual and
transgender community in the workplace
• ‘Closing the Gap Award’ by New Detroit, a Michigan-
based civic and community group, for outstanding efforts
by JPMorgan Chase to improve economic and social equity
between races, 2005
• ‘ Top 10 Companies for People with Disabilities’ by
DiversityInc magazine, 2005
• ‘Top 10 Companies for Latinos’ by DiversityInc magazine,
2005
• Fortune magazine’s ‘Top 50 Companies for Minorities’,
2005 and previous six years
• ‘Corporate Responsibility Award’ for outstanding leader-
ship in corporate diversity efforts in the workplace from
SAGE (Services and Advocacy for Gay, Lesbian, Bisexual &
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Transgender Elders), 2005
• #10 on The Black Collegian’s list of ‘Top 100 Diversity
Employers,’ 2005
As proud as we are of our achievements and recogni-
tions, we know that there is always more that can be done.
We’ll encourage you to share your interests in ways that
help raise standards on all sides, and we’ll give you the
challenges, experiences, development and support you
need to fulfill your potential, because that’s how we will
achieve ours.
OvERvIEw OF OuR COMPANY
JPMorgan has always set the pace of progress in financial ser-
vices, but there’s never been a better or more exciting time
to be joining the team. Today, we have 20,000 people work-
ing together around the globe to meet the complex financial
needs of major clients including corporations, governments,
private firms, financial institutions, non-profit organiza-
tions and wealthy individuals. JPMorgan is the investment
banking arm of JPMorgan Chase, a leading global financial
services firm with assets of more than $1 trillion and over
170,000 people working across 100 countries.
It’s clear to us that the winners in global finance will be
those who can provide their clients with more access to bet-
ter financial products and services faster than anyone else.
In this environment, size, scale and staying power matter,
and JPMorgan has what it takes to succeed. This is not a
sales pitch, it’s a fact. We offer our clients the most complete
and innovative financial solutions in the industry. We have
global leadership positions in all our key areas – mergers
and acquisitions advice, capital raising, restructuring, risk
management, and research. JPMorgan also participates
in proprietary trading and investing and market-making
in cash securities and derivative instruments around the
world. And we can’t stress this enough: the quality of the
career opportunities we offer you as an individual is direct-
ly linked to the quality of the business we aim to do with
our clients.
So when you join JPMorgan, you become part of an
enterprise with enormous reach, scope and influence. This
integrated global capability (sometimes described as “the
platform”) allows us to deliver exactly the right solution
for clients, whenever and wherever it’s wanted. There has
been plenty of debate on the relative merits of universal
banks versus pure-play operators. JPMorgan renders the
argument superfluous by capturing the best of both worlds:
we have created a space where industry-leading specialists
can excel in their own fields of expertise, while benefiting
directly from the resources and opportunities of an inte-
grated global network.
Many of the reasons you might want to work here
grow directly from our structure and strategy: the volume
and quality of the deals we do; the scope for innovation
and entrepreneurial growth; the opportunities to make a
personal impact; and the accelerated learning and career
development. All these are made possible by an integrated
service platform that is the winning formula for financial
services in a globalizing economy. They are also essential
features of a bank that is known for doing “first-class busi-
ness in a first-class way.”
CORPORAtE MISSION ANd/OR StRAtEGY
The mission of JPMorgan Investment Bank is to be the
most profitable, respected, and influential investment
bank in the world for the long term. To achieve this goal,
we leverage our clients, scale, completeness, innovation,
and most importantly, our people.
COMPANY hIStORY
Few companies can claim the same bloodlines JPMorgan
has built over the last two centuries. “First-class business in
a first-class way” is how J.P. Morgan, Jr., described the firm’s
code of ethics and customs two centuries ago. That belief
has not been lost as the firm continues to be at the fore-
front of innovations in finance, the advancement of world
economy and the development of communities worldwide.
This is the bank that built corporate America. From the
rescue of the New York Stock Exchange to the creation of
the world’s first billion-dollar corporation, JPMorgan made
things happen.
Doing “first-class business in a first-class way” is
about action and accountability. So what does it mean for
JPMorgan in the 21st century? The answer is to be found in
the day-to-day experiences of our working lives. Whether
you work as a research analyst or a trader, a corporate
finance specialist or a risk expert, or something else entire-
ly, you will be part of a culture that fosters and promotes
exceptional achievement. It’s not just that we expect great
things of you; the business is organized to provide profes-
sional challenges, support networks and training facilities
that will help you to do your best.
Different people get different things out of JPMorgan:
the intellectual challenge of a research analyst’s role is
substantially different from the pace and pressure facing
an equities trader. Some of our people work long hours
and occasionally through the night, while others go home
at the same time every evening. We have managers who
have similar roles and lifestyles to those found in any mul-
tinational corporation, and we have specialized roles that
are absolutely unique to JPMorgan. “First-class business in
a first-class way” is not merely a description of the bank’s
culture and reputation, it’s about the pride and the job satis-
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faction you get from working at JPMorgan. There are some
people who are intrinsically motivated to be the best today,
and then better again tomorrow. It is this desire that unites
JPMorgan people as a global team, regardless of the job title
on our business cards.
hOw/whY wE ARE dIFFERENt
Our name is only worth as much as those of our people, we
asked a great number of JPMorgan professionals why they
came and why they stayed, and for virtually all of them, it
came down to six key reasons. They are listed below in order
of encounter rather than importance. You may be attracted
by the prestige and reputation of the name over the door,
but you’ll probably stay because of the work and the people:
• Our scale, scope, and prestige
• Our reputation as a business innovator
• The chance to make a personal impact
• The quality of training and development
• Exceptional quality of work
• The spirit of cooperation and teamwork
These are the answers everyone agreed on, but there
are plenty more individual reasons. So when you meet us,
ask us yourself about why we joined and why we stay.
dESCRIPtION OF GLObAL PRESENCE
We serve more than 30,000 clients in over 100 countries
hOME OFFICE LOCAtION
270 Park Avenue, New York, NY 10017, USA
MANAGEMENt/OFFICERS
Jamie Dimon, CEO of JPMorgan Chase
Steven Black, co-CEO of JPMorgan Investment Bank
Bill Winters, co-CEO of JPMorgan Investment Bank
CLIENtS/INduStRIES SERvEd
Our clients are at the center of everything we do. We serve
over 30,000 clients in more than 100 countries. With ties
to more than 90 percent of the Fortune 1,000 companies,
our client base spans the full spectrum, from the most
prestigious global companies to the fastest-growing entre-
preneurial companies. We serve private corporations,
non-profit organizations, financial institutions, govern-
ment agencies, and institutional investors worldwide. Our
client base is important because high-profile clients mean
high-profile assignments for you right from the start. That
means you get:
• Experience: constant opportunities to learn by doing
every day
• Exposure: opportunities to work with high-profile cli-
ents and expert JPMorgan professionals
• Pipeline: steady deal flow that is representative of the
global marketplace
• Diversity: large variety of client types and needs
dESCRIPtION OF OFFICE CuLtuRE
Investment banking is a fast-moving world in which tal-
ented people can achieve great things. Those great things
vary depending on where you go and what you do. But if
you want responsibility and impact at an early stage in
your career, you’ll find it at JPMorgan.
New technologies, fresh ideas, changing markets and
a pipeline of high-quality work all contribute to making
JPMorgan an exhilarating place to work. Obviously you
will change, develop and evolve as your career unfolds,
but so will our firm. There has never been a better time to
launch a career with JPMorgan.
The fact is we are very good at turning high-potential
individuals into high-performers. Our training programs
combine on-the-job learning with classroom instruction
that is on par with the world’s finest business schools.
You will spend time learning different parts of the busi-
ness, giving you a multi-dimensional perspective of the
company. As a result, you will emerge not only with a
firm foundation in your own business area, but also broad
experience of the bigger business picture and a range of
transferable business skills, from project management to
team leadership.
AbOut OuR PEOPLE
JPMorgan professionals have a strong work ethic and are
energetic, smart, and passionate about what they do. They
create a dynamic atmosphere that encourages teamwork
and camaraderie while still valuing individual contribu-
tion. To hear first-hand from our people, check out our
employee profiles at jpmorgan.com/careers.
AwARdS wON
Best Derivatives House over the past 20 years; Best Credit
Derivatives House – Pioneer and Modern Great
–risk, July 2007
Best Global Equity Capital Markets House
–euromoney, July 2007
#2 Institutional Investor End-User Survey
–risk, June 2007
Energy Derivatives House of the Year
–risk, January 2007 & January 2006
2006 International Financing review, Review of the Year:
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• Global Interest Rates & Commodities Derivatives House
of the Year
• US Loan House
• US High Yield Bond House
• US Dollar Bond House
• European Equity House
• Asia-Pacific Equity-linked House
-IFr, December 2006
#1 in Bond Trading
#1 in Investment Grade Bonds
- The Banker
Here are some of our most recent highlights from 2Q 07:
(source: Dealogic/Thomson 2Q 07)
Global Loan Syndications No.1
Global Leveraged Loans No.1
Global Equity & Equity-related No.1
Global High-Yield Corporate Bonds No.1
Global Convertible Offerings No.1
Global Debt, Equity & Equity-related No.2
Global Long-term bonds No.2
Global Investment Grade Corp. Bonds No.2
Global Common Stock No.3
Global CMBS No.3
Global M&A Announced No.4
FuLL-tIME POSItIONS
We have opportunities for exceptional advanced degree
graduates who want to make an impact from the start and
who want to be part of a firm that is shaping the future of
investment banking. JPMorgan recruits for the following
MBA and advanced degree programs. Investment Bank
Full-time and Summer Opportunities for MBAs:
• Investment Banking
• Sales & Trading
• Research
No matter what area you join you will be able to take advan-
tage of our education programs; which combine on-the-job
learning with classroom instruction that is on par with the
world’s finest business schools. Delivered by leading pro-
fessors and specialist consultants as well as our own most
experienced professionals, the JPMorgan curriculum closes
the gap between theory and practice, and transforms high-
potential individuals into high-performing professionals.
Predictably enough, there are several banks claiming to offer
“the best training on Wall Street” and other such superla-
tives. We wanted to try and clarify what really distinguishes
our approach from the competition, so we commissioned a
comparative analysis. Here is what sets our programs apart:
• The bank’s most senior people are actively and routinely
involved in training delivery;
• Training is business-specific and varies widely in style
and content between divisions;
• Learning is made accessible through a diverse array of
engaging and time-efficient media;
• Development is continuous, avoiding the peak-and-
trough style of conventional approaches;
• Coaching and development are recognized and celebrated
as leadership behaviors;
• There is a strong sense that individual development is
important to the firm;
JPMorgan identifies personal development as a core
business principle. Training programs are not just about
fitting you for a task and making you productive; we edu-
cate rather than train you, to equip you for the unexpected
opportunities and uncertainties of future leadership. Each
business area has its own training structure and syllabus,
and the details are on our website. However, whatever
your area of specialization, you emerge with a thorough
grounding in your own business area, a sound appreciation
of the big business picture and a range of highly transfer-
able skills, from project management to team leadership.
The entire learning experience at JPMorgan is calculated to
accelerate your progress: we have a vested interest in help-
ing you to meet your career objectives as fast as possible.
Our global entry training programs encourage partnership
across geographies and increase awareness of international
presence and expertise, giving you a global network right
from day one.
NuMbER OF FuLL–tIME hIRES
Approximately 80 hires in the United States. We hire the
majority of our full-time class through our summer pro-
gram.
SuMMER POSItIONS (INtERNS)
We know how important it is to you to get the most valuable
summer experience possible, as it will shape your ability to
make the right decision after you graduate. We offer sum-
mer associate programs in the same groups and locations
as our full-time opportunities. You can learn more about
our internship programs on our website. You should keep
in mind that we hire most of full-time associates from our
class of summer associates, so plan ahead.
NuMbER OF SuMMER hIRES (INtERNS)
Approximately 100 hires in the United States
COMMON u.S. hIRING LOCAtIONS
CA, IL, NY, TX
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SPECIAL PROGRAMS
In addition, we offer PhD & Quant Masters full-time and
summer opportunities in Quantitative Research and Fixed
Income Strategy.
The majority of our full-time opportunities are based
in our New York offices. We also offer a few opportuni-
ties in California (San Francisco and Los Angeles), Illinois
(Chicago), and Texas (Houston and Dallas). Internationally,
we have opportunities in London, Hong Kong, Singapore,
and Tokyo. To help determine which program is best for
you or find out when we will be on your campus please
visit our website at jpmorgan.com/careers.
[K]
KPMG
Jungle Profile
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www.kpmg.com
OFFICE hEAdQuARtERS
Amsterdam, with U.S. headquarters in New York
PhONE
212-758-9700
MANAGEMENt
Timothy P. Flynn, Chairman and CEO of KPMG in the U.S.
dESCRIPtION
KPMG is a leading accounting firm, providing audit, tax
and advisory services in 148 countries. More than 113,000
professionals work in KPMG member firms around the
world in sectors including government, media, private
equity, and industrial markets.
[L]
LEhMAN bROthERS
Jungle Profile
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www.lehman.com
OFFICE hEAdQuARtERS
New York, NY
PhONE
212-526-7000
MANAGEMENt
Richard S. Fuld, Chairman and CEO
dESCRIPtION
Lehman Brothers was founded in 1850 and provides
financial services in equity and fixed income sales, trad-
ing and research, investment banking, private investment
management, asset management and private equity to cor-
porations, governments and municipalities, institutional
clients, and high-net-worth individuals worldwide.
LOCKhEEd MARtIN
Jungle Profile
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www.lockheedmartin.com
OFFICE hEAdQuARtERS
Bethesda, MD
PhONE
301-214-3000
MANAGEMENt
Robert J. Stevens, Chairman, President and CEO
dESCRIPtION
The largest provider of IT services and training to the U.S.
government, Lockheed Martin was formed in 1995 with
the merger of technology companies Lockheed Corp. and
Martin Marietta Corp., and today employs 140,000 people.
The primary customer is the U.S. Department of Defense
and other U.S. federal agencies.
L’ORéAL
Jungle Profile
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www.lorealusa.com
OFFICE hEAdQuARtERS
New York, NY
PhONE
212-984-4000
MANAGEMENt
Laurent Attal, President and CEO
94
dESCRIPtION
L’Oréal USA is the leading beauty company in America
and the group’s second creative center. L’Oréal has leading
brands in every beauty category and distribution channel
with focus on hair care; hair color; cosmetics; fragrances
and skin care.
[M]
MCKINSEY & CO.
Jungle Profile
uRL
www.mckinsey.com
OFFICE hEAdQuARtERS
New York, NY
PhONE
212-446-7000
MANAGEMENt
Ian Davis, managing director
dESCRIPtION
A worldwide leader in management consulting, McKinsey
offers companies, foundations, and foreign governments
a full spectrum of consulting services in finance, technol-
ogy management, and strategy. The firm also operates the
McKinsey Global Institute, an independent group generat-
ing research on economic, social, and geopolitical issues.
MEdtRONIC
Jungle Profile
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www.medtronic.com
OFFICE hEAdQuARtERS
Minneapolis, MN
PhONE
763-514-4000
MANAGEMENt
Bill Hawkins, President and CEO
dESCRIPtION
Medtronic is a leader in manufacturing implantable biomed-
ical devices. Medtronic makes defibrillators and pacemakers,
as well as devices for slow or rapid heartbeats; therapies for
chronic pain and movement disorders; products for disorders
of the spine and cranium; diabetes management systems;
products for those undergoing cardio vascular bypass sur-
gery; and ear, nose, and throat devices.
MERRILL LYNCh
Company Profile
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ml.com
tICKER
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AddRESS
4 World Financial Center
New York, NY 10080
PhONE
212-449-1000
whAt’S NEw
• Emphasis on summer associate positions as the pipeline
for full-time offers.
• For current MBA students, all recruiting information,
including how to apply, is available at ml.com/careers in
the Campus Candidates section.
• For MBA graduates, information about applicable open
positions, including how to apply, is available at ml.com/
careers in the Experienced and Entry Candidates section.
MESSAGE tO MbA CANdIdAtES
Merrill Lynch takes a global approach to MBA recruiting.
The Campus Candidates section of our careers website
presents a coordinated view of our opportunities, and our
MBA recruiters in the U.S., Europe, and the Pacific Rim
source candidates from all regions at top business schools.
hIRING PROCESS
Merrill Lynch recruiters and business managers visit
selected campuses in the fall to meet first-years inter-
ested in applying to the firm. The first and final rounds
of interviews for summer associate positions take place
on campus during the spring recruiting season, which
begins in January. Offers are usually extended by the end
of February.
hOw tO APPLY
For current MBA students, check out our global associate
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opportunities at ml.com/careers in the Campus Candidates
section and apply online for the program that best matches
your skills and career goals. For experienced MBA grads,
you can apply online for specific positions at ml.com/careers
in the Experienced and Entry Candidates section.
GENERAL INtERvIEw AdvICE
Do your due diligence. Know our company. Know yourself.
Be honest and straightforward.
whAt wE LOOK FOR
• Strong quantitative and analytical skills
• Solid oral and written communication skills
• Ability to work independently while functioning as part
of a team
• Additional qualifications appropriate for the specific
opportunity
MESSAGE tO wOMEN ANd MINORItIES
Merrill Lynch is committed to a diverse work environment,
to attracting and retaining the most qualified employees,
and to supporting the professional development and career
goals of all employees. Our culture emphasizes a meri-
tocracy in which employees are recognized and rewarded
based on their performance.
OvERvIEw OF OuR COMPANY
Merrill Lynch is a leading global financial management and
advisory company that serves the needs of both individual
and institutional clients. We offer a diverse range of financial
services through our principal businesses: Global Markets
& Investment Banking and Global Wealth Management.
COMPANY hIStORY
A legacy of leadership and a reputation for innovation
characterize Merrill Lynch’s history. Founded in 1914 by
Charles E. Merrill, the firm can claim more than its share
of “firsts”in the financial services industry. Always in sync
with the growth of the global economy and the move to
take personal investment center stage in people’s lives,
Merrill Lynch is synonymous with progress. A force for
good as well as a household name, Merrill Lynch has driv-
en changes that defined the times—and the future. For a
complete history, visit the About Us section of ml.com.
hOw wE ARE dIFFERENt
Our associate programs offer you the chance to join an
organization with a world-class brand. We offer clients the
broadest product platform in the industry. We offer you a
work environment in which people are measured, recog-
nized, and rewarded for their accomplishments.
hOw wE ARE ORGANIZEd
Merrill Lynch is organized globally around our principal
revenue businesses and our core corporate functions.
GLObAL PRESENCE
Merrill Lynch has a major presence in 38 countries across
six continents.
MANAGEMENt
E. Stanley O’Neal , chairman and CEO
CLIENtS/INduStRIES SERvEd
Merrill Lynch serves the needs of individuals and fami-
lies, small and mid-size businesses, and corporate and
institutional clients through two world-class businesses:
Global Markets & Investment Banking and Global Wealth
Management.
FOuNdING PRINCIPLES
Merrill Lynch principles: client focus, respect for the indi-
vidual, teamwork, responsible citizenship, and integrity.
OFFICE CuLtuRE
Typical of Wall Street financial services firms, the pace is
often fast, always challenging, and never dull. The company
truly thrives on teamwork at every level and across all divi-
sions. The dress code is business-casual year-round. While
the atmosphere is informal, we foster an environment of
mutual respect, acceptance and flexibility among employees.
AbOut OuR PEOPLE
Our culture is the sum total of what we believe and think,
how we work together as colleagues and how we conduct
ourselves as individuals. It is the way we treat our clients,
our shareholders, our fellow employees, our neighbors and
the public in general. It is who we are.
AwARdS wON
To learn about awards to Merrill Lynch, visit the About Us
section of ml.com
FuLL-tIME POSItIONS
Global Markets, Investment Banking, Private Client, and
Research.
SuMMER POSItIONS
Global Markets, Investment Banking, Private Client, and
Research.
COMMON u.S. hIRING LOCAtIONS
CA, IL, NJ, NY, TX
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COMMON INtERNAtIONAL hIRING LOCAtIONS
Hong Kong, Japan, Singapore, UK
bENEFItS SuMMARY
Merrill Lynch offers an acclaimed benefits package that is
competitive with the industry.
MORGAN StANLEY
Company Profile
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www.morganstanley.com
tICKER
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1585 Broadway
New York, NY 10036
PhONE
212-761-4000
CONtACt
Michael Marich, Vice President, Campus Recruiting
INduStRY
High Tech/Telecom
Investment Banking
Investment Management
Real Estate
Sales and Trading
VC/Private Equity
whAt’S NEw:
Morgan Stanley has strengthened its position as a global
leader in financial services. We have continued our inte-
grated, full-service approach, working across product and
geographical boundaries to provide clients with the most
effective solutions. Our Institutional Securities business
consistently ranks us No. 1 or No. 2 in global equity under-
writing, completed mergers and acquisitions, and global
debt underwriting.
MESSAGE tO MbA CANdIdAtES
Our goal is to be the first choice of clients, shareholders,
and the most talented people choosing careers in financial
services. We seek exceptional individuals who enjoy work-
ing with a team of talented colleagues to serve sophisticated
institutional clients, including major corporations, inves-
tors, nonprofit institutions, governments, and agencies.
This means constantly developing innovative products,
services and platforms to shape new markets, coming up
with new ideas and financial solutions, and building new
business models in a rapidly changing global economy.
dESCRIPtION OF hIRING PROCESS
The recruiting process begins in the fall, when the Morgan
StanleyRecruiting Team presents general information
about career opportunities at our firm.
If you’re interested in a career with us, join us for this
presentation.
Take some time to talk with us, and we’ll explain the
myriad opportunities available at Morgan Stanley, and share
personal observations of the firm and why we selected it for
our careers. First-round interviews are typically held on cam-
pus in late fall or early winter, followed by a second-round
either on campus or at a Morgan Stanley site. These are often
followed by full-day interview sessions at Morgan Stanley’s
offices, which will include meetings with professionals from
a variety of departments, at all levels of seniority.
Unfortunately, Morgan Stanley representatives can’t
visit every school. If our on-campus interviews aren’t
offered on your campus, you should learn as much as you
can about our firm in advance. Then, complete our on -
line application for consideration.
hOw tO APPLY
To apply complete our on -line application.
ON-CAMPuS EvENtS CALENdAR
www.morganstanley.com/about/careers/recruiting/events.html
GENERAL INtERvIEw AdvICE:
To decide if Morgan Stanley is right for you, learn as much as
you can about our firm and our people. The first place to start
our website. It provides everything from a history of the firm
to our values and awards we have garnered over the years. It
provides a good overview of our businesses and how we see our-
selves positioned as a worldwide financial services provider.
Next, read the profiles of current Analysts, Associates, and
senior members of the firm to find real-life depictions of
roles at www.morganstanley.com/about/careers/recruiting/
culture/profiles/index.html
whAt wE LOOK FOR
Morgan Stanley looks for bright, motivated candidates
who have a strong interest in business and finance. We are
eager to meet candidates from all backgrounds and disci-
plines. Our training programs are designed to teach you
the basics, so technical financial skills are less important
to us than your intelligence, character, and ability to work
as part of a team.
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COMMON INtERvIEw QuEStIONS
See our web site for interview preparation tips.
www.morganstanley.com/about/careers/recruiting/apply.html
MESSAGE tO INtERNAtIONAL StudENtS
Morgan Stanley is a global firm, with opportunities in
New York, London, Hong Kong, Tokyo and other locations.
International students are encourage to explore the oppor-
tunities available.
Hire non-US citizens: Yes
Sponsor for H-1B visas: Yes
MESSAGE tO wOMEN/MINORItIES
At Morgan Stanley, we see diversity as an opportunity—for
our clients, our people and our firm. By valuing diverse
perspectives we can better serve our clients while we help
our employees achieve their professional objectives. A cor-
porate culture that is open and inclusive is fundamental to
our role as a global leader constantly striving for excellence
in all that we do. From our recruiting and career develop-
ment programs, to our supplier diversity and work-life
programs, our commitment to diversity is unparalleled.
Over the years, our diversity and work-life initiatives have
received numerous awards from publications and orga-
nizations. Our objective is to have an impact on diversity
both internal and external to Morgan Stanley. This is what
makes Morgan Stanley a premier employer of choice and a
great place to work.
Morgan Stanley is an equal opportunity employer and
does not discriminate on the basis of race, color, religion,
gender, sexual orientation, national origin, age, citizen-
ship, disability, marital status, pregnancy, veteran status, or
any other characteristic protected by law. Morgan Stanley
complies with applicable federal, state, and local laws
prohibiting discrimination in employment in every juris-
diction in which it maintains facilities. Morgan Stanley
also provides reasonable accommodation to individuals
with disabilities in accordance with its obligations under
applicable law.
OvERvIEw OF OuR COMPANY
Morgan Stanley is one of the best-known names in finan-
cial services: a global leader in securities, corporate finance,
asset management and credit services. The firm has earned
a worldwide reputation for the excellence of its advice and
execution in financial markets. Morgan Stanley serves
institutional and individual investors as well as investment
banking clients, including corporations, governments and
other entities around the world. The firm provides a wide
range of services: underwriting, trading, and research, as
well as advice on mergers and acquisitions, privatization
and financial restructuring. Morgan Stanley also manages
$739 billion of investor assets, serves affluent and high net
worth individuals in the United States, Europe and Asia.
CORPORAtE MISSION
Morgan Stanley’s mission is to build a community of talent
that can deliver the finest financial thinking, products, and
execution in the world. Our people come from a wide vari-
ety of backgrounds and interests—all are high achievers
who share integrity, intellectual curiosity and the desire to
work in an atmosphere that is less hierarchical and more
collegial than many other firms in our business.
COMPANY hIStORY
Ever since its founding in 1935, Morgan Stanley has
been a leader in financial services. We are proud of a
distinguished history that encompasses many landmark
financial transactions. We are also proud to be known for
our record of innovations: in national and international
expansion, in the use of technology, and in the develop-
ment of new financial tools and techniques that have
redefined the meaning of financial services for individ-
ual, institutional and investment banking clients. These
include creating the first computer model for finan-
cial analysis and being the first securities firm to use
electronic data processing. Our 1997 merger with Dean
Witter, Discover & Co. created a unique balance of insti-
tutional and retail capabilities.
hOw/whY wE ARE dIFFERENt
Individuality is prized and people are encouraged to be
themselves. If you come to Morgan Stanley you won’t check
your identity, your opinions, or your sense of humor at the
door. Diversity is fundamental to our corporate culture and
to our role as a global leader. This commitment shows in
our recruiting and career development, and in our diversity
and work life programs that have won many awards.
People here “think like owners,” taking pride in the
firm’s worldwide reputation and entrepreneurial spirit.
This is essential to keeping us at the head of the fast-mov-
ing industry where circumstances are constantly changing
and clients have much at stake.
Hard work with good colleagues should not only be
financially rewarding but also interesting, engaging, and
enjoyable.
hOw wE ARE ORGANIZEd
Morgan Stanley is organized into three business units: secu-
rities (including investment banking, sales & trading and
research), asset management, and global wealth management.
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dESCRIPtION OF GLObAL PRESENCE
Morgan Stanley’s business is expanding around the world
as global markets become ever more tightly linked by tech-
nology, by the breaking down regulatory barriers, and by
the increasingly global needs of our clients. An established
global presence such as ours gives Morgan Stanley a clear
advantage: we are a market leader in Europe and Asia as
well as the United States, with 600 offices in 31 countries.
In recent years, we have earned particular recognition as a
leader in the economic and financial growth of Southeast
Asia, India, and China. This global reach requires that we
actively look for talent at universities all over the world.
hOME OFFICE LOCAtION
New York, NY
MANAGEMENt/OFFICERS
John J. Mack, Chairman and CEO
Robert Scully and Zoe Cruz, Co-Presidents
Walid Chammah, Chairman & CEO of Morgan Stanley
International
Colm Kelleher, Chief Financial Officer
CLIENtS/INduStRIES SERvEd
The company combines leadership in investment banking
(including underwriting public offerings of securities and
mergers and acquisitions advice) and institutional sales and
trading, with strengths in providing investment and glob-
al asset management services as well as quality consumer
credit products to a variety of corporations, institutions,
governments and individuals.
LINK tO bASIC FINANCIALS
www.morganstanley.com/about/company/index
dESCRIPtION OF OFFICE CuLtuRE
Client focus is engraved in our culture throughout the
firm: we are energetic, highly motivated individuals work-
ing with passion toward the common goal of providing
the best and most innovative services to our clients. We
are united by a simple credo: to never settle, to never allow
“good” to be good enough. Yet we recognize that no one of
us alone is as good as we are together. We invite you to come
and meet Morgan Stanley professionals who will show you
first-hand what this means.
AwARdS wON
Morgan Stanley has won recognition around the globe for
the quality of its services and the results of its employees’
innovative minds at work. From Institutional Investor sur-
veys to quality-of-workplace awards, the firm regularly
captures top honors that build its reputation for excellence.
www.morganstanley.com/about/awards/index
LINK tO RECENt NEwS
www.morganstanley.com/about/press/index.html
FuLL-tIME POSItIONS
www.morganstanley.com/careers/recruiting/programs
SuMMER POSItIONS (INtERNS)
www.morganstanley.com/careers/recruiting/programs
COMMON u.S. hIRING LOCAtIONS
CA, IL, MA, NY
COMMON INtERNAtIONAL hIRING LOCAtIONS
www.morganstanley.com/about/offices/index.html
dESCRIPtION OF tYPICAL PROjECt
With the wide variety of positions and programs, projects
vary across the firm. Read our employee profiles for exam-
ples of assignments and projects.
PROFESSIONAL CAREER PAth
Every candidate’s career path will be different, based upon
interests and opportunities. Mentoring provides each indi-
vidual thoughtful advice on skill development, projects,
and advancement. New associates are eligible for promo-
tion to vice president based upon performance.
bENEFItS SuMMARY
Morgan Stanley provides a comprehensive benefits plan to
all employees.
[N]
NEStLé
Jungle Profile
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www.nestlejobs.com
OFFICE hEAdQuARtERS
Vevey, Switzerland;
u.S. hEAdQuARtERS
Glendale, Calif.
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PhONE
818-549-6000
MANAGEMENt
Paul Bulcke, executive vice president and zone director
for the United States, Canada, Latin America, and the
Caribbean
dESCRIPtION
Started in 1987 when Henri Nestlé developed the first milk
food for infants in 1867, the Swiss chocolate maker now
owns a host of U.S. consumer products including Stouffer’s®
Lean Cuisine®, Nestlé Toll House®, Hot Pockets®, Taster’s
Choice®, and Purina® pet food.
[P]
PFIZER
Jungle Profile
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www.pfizer.com
OFFICE hEAdQuARtERS
New York, NY
PhONE
212-733-1000
MANAGEMENt
Jeffrey Kindler, Chairman and CEO
dESCRIPtION
Pfizer is one of the world’s leading healthcare companies,
providing human and animal pharmaceuticals as well
as consumer products. Pfizer’s portfolio includes 14 No. 1
medicines across several major therapeutic categories, and
has developed therapies for cancer, arthritis, osteoporosis,
and stroke victims. The company has 200 projects in devel-
opment—half of which are distinct new molecular entities.
PhILIP MORRIS
Jungle Profile
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www.philipmorris.com
OFFICE hEAdQuARtERS
Richmond, Va.
PhONE
800-343-0975
MANAGEMENt
Michael E. Szymanczyk, Chairman and CEO of Philip
Morris USA
dESCRIPtION
Owned by Atria Group Inc., Philip Morris is the leading
cigarette manufacturer in the United States. It’s core busi-
ness is manufacturing and marketing Marlboro, Virginia
Slims, Basic, and Parliament brand cigarettes. The firm
employees 11,000 people worldwide.
PRICEwAtERhOuSECOOPERS
Jungle Profile
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www.pwc.com
OFFICE hEAdQuARtERS
New York, NY
PhONE
646-471-4000
MANAGEMENt
Samuel A. DiPiazza, CEO
dESCRIPtION
Accounting giant PricewaterhouseCoopers employs
140,000 people in 149 countries to assist clients with
assurance, tax, human resources, transactions, per-
formance improvement, and crisis management in 22
sectors including retail, energy, transportation, paper,
health care, and hospitality.
PROCtER & GAMbLE
Company Profile
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www.pg.com
tICKER
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AddRESS
1 P&G Plaza
Cincinnati, OH 45202
PhONE
513-983-1000
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North America Talent Supply
MESSAGE tO MbA CANdIdAtES
When searching for employment opportunities within
P&G, it’s best to start early. Internships are a great way to
get noticed and nearly half of all full-time hires are former
interns. P&G is strongly committed to hiring at the entry
level and promoting its people from within.
An important tip on getting your resume noticed is hav-
ing a GPA above 3.0 as well as having other non-academic
involvement. Having completed internships or belonging
to student organizations will stand out on your resume.
Leadership roles and experience are even better.
dESCRIPtION OF hIRING PROCESS
P&G’s “Promote-from-Within” philosophy places con-
siderable emphasis, on employee training, growth, and
development. This is critical since the people we hire
at entry-level will become the future leaders of our
company.

ONLINE APPLICAtION
P&G’s application is available online and starts by visiting
www.pg.com/careers.
ASSESSMENt
Help us get to know you and your abilities and talents. P&G
uses a variety of assessments to obtain the most detailed
understanding of your capabilities as possible.
INItIAL INtERvIEw
Talk to a P&G employee about our job opportunities.
FINAL INtERvIEw
Learn more about our culture and our people and visit the loca-
tion where you will work. This is where you get to meet your
eventual work team and get all your questions answered.
YOuR OFFER ANd YOuR FutuRE
Start your career among the best and the brightest people
in business today. P&G is renowned for the quality of its
people.
StEPS ON hOw tO APPLY
1. Log oN
Log on to www.pg.com/careers
2. SEARCH
Use the Search Controls to find your preferred position OR
the job that was identified for you by the P&G recruiter.
3. FIND
Click on the actual Job Title to find the job description and
the “Apply Online” link.
4. REVIEW
Review the Data Privacy Statement.
5. APPLY
Log-in and complete the online application form.
6. TAKE ASSESSMENT
If requested to do so, complete the online assessment form
as soon as possible.
dIvERSItY MISSION StAtEMENt
Our Corporate Diversity Intent is to have a workforce
that reflects the consumers and communities we serve.
We believe that this is the best way to be in touch with the
world’s consumers so that we can achieve our Company
Purpose of improving their lives; we set our long term
goals for workforce composition with this in mind. We
hold our leaders accountable for their results on attract-
ing, retaining, and developing the diverse talent needed to
achieve our business goals.
OvERvIEw OF OuR COMPANY
P&G brands touch the lives of people around the world
3 billion times a day. Our corporate tradition is rooted in
the principles of personal integrity, respect for the individ-
ual and doing what’s right for the long-term.
–Improving the lives of consumers worldwide is about
more than just great products. It’s about taking responsi-
bility for improving our communities around the world
through the work we do, as a company and as individuals.
We attract and recruit the finest people in the world. We
build our organization from within, promoting and reward-
ing people without regard to any difference unrelated to
performance. We train and develop our future leaders by
making continuous investments in your growth. There’s
no better place to grow and shape your talent.
OuR PuRPOSE
We will provide branded products and services of supe-
rior quality and value that improve the lives of the world’s
consumers. As a result, consumers will reward us with
leadership sales, profit and value creation, allowing our
people, our shareholders, and the communities in which
we live and work to prosper.
COMPANY hIStORY
Almost 170 years ago in 1837, Procter, a candle maker, and
Gamble, a soap maker, came together with about $3,500 each
to form the company that continues to be their namesake.
After quickly finding it’s footing, P&G managed to reach the
$1 million sales mark in 1859 and soon after, hit the big time
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COMPANY PROFILES
with the introduction of Ivory soap in 1879. Today, Procter
& Gamble is over 100,000 employees strong with on-the-
ground operations in more than 80 countries. P&G remains
the world’s largest manufacturer and marketer of household
products and reaches across a spectrum of more than 250
products marketed in 140 countries worldwide.
dESCRIPtION OF GLObAL PRESENCE
P&G operates in locations worldwide with 30 manufactur-
ing facilities in 21 states in the U.S. Internationally, products
are sold in 140 countries while operating in 80 countries.
Our main international offices are located in Brussels,
Belgium; Caracas, Venezuela; Santiago, Chile; Frakfurt/
Schwalbach, Germany; Geneva, Switzerland; Guangzhou,
China; Kobe, Japan; Mexico City, Mexico; Singapore; and
Toronto, Canada.
hOME OFFICE LOCAtION
Cincinnati, Ohio, United States
MANAGEMENt/OFFICERS
A. G. Lafley, Chairman of the Board & CEO
Susan E. Arnold, President – Global Business Units
Vice Chair of the Board – Global Brand
Bruce L. Byrnes, Building Training
Clayton C. Daley, Jr., Vice Chair & Chief Financial Officer
Robert A McDonald, Chief Executive Officer
LINK tO bASIC FINANCIALS
www.pg.com/investors
AbOut OuR PEOPLE
P&G is a $76 billion per year company of more than 135,000
employees working in over 80 countries worldwide. As our
company structure has evolved, the core of our business is
still the same: people drive P&G business growth and suc-
cess. We rely on the character, skills, attributes and energy
of each and every person in the P&G family. Each person
can and does make a difference.
AwARdS wON
Fortune (Most Admired Companies)
• Ranked No. 1 in Consumer Products Industry
• Ranked No. 10 overall- 16th time in Top 10
• ranked no. 1 for:
– People Management
– Social Responsibility
– Use of Corporate Assets
– Innovation
– Financial Soundness
– Quality of Products & Services
Fortune (Top Company for Leaders)
• Ranked No. 2 Overall (Global Survey)
Universum
• Ranked No. 1 Consumer Products Company (US)
Vault
• Ranked No. 3 Consumer Products Company (Global)
Diversity Inc.
• Ranked No. 14 among top 50 companies for diversity
Latina Style
• Eighth straight year in top 50 best places for Latinas in
the U.S.
National Association for Female Executives (NAFE)
• Ranked in top 30 for 4th straight year
Additional Recognitions
• Lead Sponsor of NSHMBA conference, Cincinnati, 2006
• NSHMBA Brillante Award Winner, 2007
FuLL-tIME POSItIONS
Not all regions or countries hire for every business func-
tion. Each region recruits candidates to fill vacancies in
functions specific to their business needs.
The list below provides a brief overview of the type of
opportunities P&G offers.
Administrative: Be part of a team. Support the iden-
tification and implementation of improved streamlined
processes that keep our business moving.
Consumer and Market Knowledge - Lead the
understanding of the global market and consumers with
innovative research techniques.
Customer Business Development - Develop strategic
selling concepts and activities, and consult with customers
to grow our business.
Customer Services/ Integrated Logistics - Manage
the flow of raw materials, packaging and finished product
through the supply chain.
Engineering - Develop new products, design new pro-
cesses or implement production.
External Relations - Function as strategic business
leaders in all areas of public affairs.
Finance and Accounting Management - Influence
global business decisions and provide financial leadership
at all organization levels worldwide.
Human Resources - Partner with line management to
set direction, develop and deploy strategies to create high
performing organizations.
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IT/Information & Decision Solutions - Enable global
market leading business decisions by creating and leverag-
ing innovative information and technology solutions.
Intellectual Property/Legal - Develop as a professional
and legal manager with a high-level practice in virtually
all areas of law.
Marketing - Create the vision and deploy plans to build inno-
vative brands which delight consumers and build our business.
Purchases - Strategically source global materials and
services needed to produce P&G’s products.
Research & Development - Create the future with
innovative products, packages, processes and technologies
to improve the lives of consumers worldwide.
Workplace Services/ Corporate Facilities - Design
and manage corporate facilities, research laboratories, and
internal services.
Plant Technician - Create and execute the vision for
innovative brands which delight the consumers and build
our business.
SuMMER POSItIONS (INtERNS)
Our Corporate Internship Program offers very competi-
tive salaries based on industry benchmarks. Applications
for the program are accepted all year while most intern-
ships are staffed by March prior to the summer. The
length of the program is about 10 to 12 weeks. We offer
internship/co-op opportunities in nearly all of the
Functional business areas listed above. The work typi-
cally involves projects to support our brands. You have
the opportunity to work on teams and make a contribu-
tion to the business while gaining experience that will be
helpful for full-time employment. The internships and
co-op assignments are designed for individuals who have
completed their sophomore or junior year, or their first
year of an MBA program.
We offer a one–week Technical Summer Camp for indi-
viduals who have completed their freshman year. At the
end of the camp, students have the opportunity to interview
for an internship the following summer. For marketing, a
one-week Marketing MBA Summer Camp is offered for
students just entering an MBA program. At the end of the
camp, the students have the opportunity to interview for
an internship the following summer. Market Research
offers a Consumer Strategy Workshop for students just
completing their sophomore year of college, with the same
opportunity to interview for an internship the following
summer on the last day of the camp. For more information
on internships/co-ops: www.pg.com/careers.
NuMbER OF SuMMER hIRES (INtERNS)
Approximately 450
PERCENt OF LASt SuMMER hIRES ExtENdEd FuLL
tIME POSItIONS
Approximately 80 percent
bENEFItS SuMMARY
As a potential employee, we understand that your life will
grow and change throughout the years, so we’ve created
a compensation and benefits package that offers substan-
tial benefits from entry-level through retirement. When
it comes to the quality of your life, we firmly believe our
company offers a unique opportunity. From the challenge
of your working life to the security of your life away from
work, P&G will meet your needs today, and, more impor-
tantly, tomorrow.
P&G considers the life of its employees and the life
of its business inseparable. We have kept the welfare of
our employees top-of-mind since the beginning of the
Company in 1837, as evidenced by the many employee
benefits we’ve pioneered. For example, we were the first
in the nation to introduce a profit sharing program to our
company in 1887. Today, approximately 25 percent of the
company is owned by its former and current employees.
Even workers in the manufacturing plants often own
hundreds of thousands of dollars in company stock. What
does the company get for this generosity? It ensures that
top-of-the-line employees will remain with the company
for years to come.
[R]
RECKItt-bENCKISER
Jungle Profile
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www.reckittbenckiser.com
OFFICE hEAdQuARtERS
Wayne, N.J.
PhONE
973-633-3600
MANAGEMENt
Bart Becht, CEO
dESCRIPtION
Reckitt Benckiser is a leading maker of household cleaning
products and condiments. Brands include Lysol®, French’s®
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COMPANY PROFILES
mustards, Wizard® air fresheners, Resolve® carpet clean-
ers, and Electrasol® dishwasher detergent.
[t]
tExAS INStRuMENtS INC.
Company Profile
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www.ti.com
tICKER
TXN
AddRESS
12500 TI Boulevard
Dallas, TX 75243
PhONE
972-995-2011
FAx
972-917-5778
CONtACt
Sonya Galan, Manager, Finance Leadership Dev.
Linda Johnson, Finance Recruiting and Staffing
Coordinator
INduStRY
High Tech/Telecom
Manufacturing
whAt’S NEw
In this exciting age of high-speed technology, TI envisions
a world where every phone call, every Internet connection,
every photograph you take, and every song you listen to is
touched by the power of TI’s Digital Signal Processor (DSP)
and Analog technologies.
MESSAGE tO MbA CANdIdAtES
TI’s Finance Development Program (FDP) is designed for
MBAs with interests in industry finance, operations, and
accounting. The FDP has been thriving at TI for more
than 40 years and provides exposure to a variety of busi-
ness groups and finance and operations roles. Four carefully
planned six-month assignments guide you through the
maze of opportunities throughout the company. Former
participants of the program are at all leadership levels of
the organization.
dESCRIPtION OF hIRING PROCESS
We visit a select number of MBA schools and conferenc-
es each fall. We host a second round interview event each
November to which top candidates from each campus
and conference are invited. This is generally a special
weekend providing you with an opportunity to visit TI
and Dallas, and to meet finance and operations manag-
ers in our organization and to interact with other MBA
candidates.
hOw tO APPLY
Specific information about our development program
can be found at jobs.ti.com under “student stuff ” section.
Resumes may be e-mailed directly to fdpstaff@list.ti.com.
GENERAL INtERvIEw AdvICE
We hire people who fit into the TI culture. Take our inter-
active TIFIT Check on the company Web site to determine
whether ours is a culture that you will enjoy. During an
interview, be yourself, be sure to ask lots of questions, and
above all, be honest about your personal expectations and
career goals.
whAt wE LOOK FOR
Some of the key competencies that we evaluate dur-
ing a first interview are technical aptitude (the ability to
understand our complex business), initiative, leadership,
teamwork, and effective communication skills.
MESSAGE tO INtERNAtIONAL StudENtS
The finance and operations organizations at TI do not
hire international students for full-time positions unless
they already have permission to work permanently in the
United States.
Hire non-US citizens: No
Sponsor for H-1B visas: No
MESSAGE tO wOMEN/MINORItIES
Texas Instruments recognizes that a diverse, empowered
workforce is a means for achieving a sustained competitive
business advantage. Because of this belief, TI has taken
great strides in recent years toward not only embracing
diversity, but weaving it throughout the fabric of the cor-
poration. The Finance Diversity Team conducts surveys
to insure that individuals are fully engaged in diversity
issues. TI is also proud to be a part of 23 diversity initiatives
in the Dallas area.
OvERvIEw OF OuR COMPANY
Texas Instruments Incorporated is a global semiconduc-
tor company and the world’s leading designer and supplier
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of digital signal processing and analog technologies: the
engines driving the digitization of electronics. TI is a
leader in the real-time technologies that help people com-
municate. TI technology makes up the brainpower behind
many cutting edge innovations on store shelves today. TI
technology is in more than half the cell phones sold world-
wide; can be found in digital cameras and MP3 players;
DLP TV’s; and 75 percent of all notebook PC’s use TI for
power management and data storage.
CORPORAtE MISSION ANd/OR StRAtEGY
TI’s vision is to be a premier electronics company provid-
ing world leadership in digital solutions for the networked
society – a society transformed by personalized electron-
ics, all speaking the same digital language, and all able to
communicate anytime, anywhere. We will provide value,
growth, and stability through strong values of integrity,
innovation, and commitment.
COMPANY hIStORY
TI has a long history of innovation and change. We’ve rein-
vented ourselves many times as the electronics industry
has changed. TI was born in the 1930s as an oil explora-
tions company. Oil detection techniques were expanded to
defense applications in the 1940s. The 1950s brought TI,
Jack Kilby’s invention of the integrated circuit, enabling
the digital revolution and changing the work forever. In
December 2000 Jack received the Nobel Prize in Physics
for his innovative work and contribution towards modern
information technology. We continue to focus on digital
signal processors (DSP) and analog devices that will con-
tinue to change the way we live and work.
hOw/whY wE ARE dIFFERENt
TI is a company with a long and proud history. But with
the many changes we’ve made, people say we act more like
a new company. That’s because we’re riding the next wave
of the digital revolution – a wave built on digital connec-
tions- a wave that’s drawing much of its energy and power
from the people and technology of TI. Without question,
our success is attributed to our people, pride in our history,
excitement about our future, and the freedom to innovate
and drive new ideas that make a difference.
hOw wE ARE ORGANIZEd
The finance and operations organizations at TI are decen-
tralized with teams dual reporting to each business unit
within the finance and operations organizations. We part-
ner very closely with the businesses, working to consult and
help create business strategies that make financial sense.
dESCRIPtION OF GLObAL PRESENCE
TI is a global company with a strong presence in over 25
countries.
hOME OFFICE LOCAtION
Dallas, Texas
LINK tO bASIC FINANCIALS
www.ti.com
FOuNdING PRINCIPLES
TI has had a long standing tradition of ethical conduct, and
continues to uphold unwavering principles of integrity in
all its businesses and functions.
dESCRIPtION OF OFFICE CuLtuRE
TI offers a relaxed, open environment—everyone is on a
first-name basis, and knowledge—sharing is king. There
is an informal business casual dress code and all doors are
open. Walk through any TI hallway, and you might hear
one of several different languages being spoken: English,
Spanish, Japanese, Chinese, Hindi, French, or German. A
great deal of emphasis is placed on work/life balance. As for
the work, everyone at TI rolls up their sleeves and works.
Cross-functional teamwork and goal-driven attitudes play
important roles at TI. Organizations are flat, and career
progress is often defined by lateral moves and increased
responsibility instead of titles.
AwARdS wON
• Fortune magazine:
- Most Valuable Semiconductor Company
- 100 Best Companies to Work For in America – 6th year
- Best Places for Minorities
• Working Mother magazine:
- 100 Best Companies for Working Mothers – 10th con-
secutive year
• Hispanic engineer magazine: Best Companies for
Hispanics
• uS Black engineer magazine: Best Companies for African
Americans
• Platinum Award given by the National Business Group
on Health:
- Best Employers for Healthy Lifestyle
• Alfred P. Sloan Award: Business Excellence in Workplace
Flexibility
• CAreerS and the disABLeD magazine:
- Top 50 Companies for People with Disabilities
• DiversityInc.com: Top 50 Companies for Diversity
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Jungle Profile
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www.toyota.com
OFFICE hEAdQuARtERS
Torrance, CA
PhONE
310-468-4000
dESCRItION
Toyota Motor Sales (TMS), U.S.A., Inc. is the marketing,
sales, distribution and customer service arm of Toyota,
Lexus and Scion in the United States, marketing products
and services through a network of more than 1,400 Toyota,
Lexus and Scion dealers in 49 states. In 2006 the company
achieved its best-ever year-end sales with 2.5 million vehi-
cles sold in the United States.
[u]
ubS
Company Profile
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www.ubs.com
tICKER
UBS
AddRESS
299 Park Avenue
New York, NY 10171
PhONE
212-821-3000
FAx
212-821-5271
INduStRY
Investment Banking
Investment Management
Sales and Trading
MESSAGE tO MbA CANdIdAtES
Top Reasons to Work for UBS
1. Global Reach – UBS is present in all major financial
centers worldwide with offices in more than 50 countries,
employing over 80,000 people. UBS recruits MBAs across
the Americas, Europe and Asia Pacific.
2. Our growth and momentum across the United States
business and other regions provides a unique opportunity
for MBA graduates to be given ample responsibility early
in their career.
3. One Firm Approach. As an integrated firm, UBS cre-
ates added value for clients by drawing on the combined
resources and expertise of all its businesses.
dESCRIPtION OF hIRING PROCESS
We conduct multiple rounds of interviews. First round
interviews are held on campus, for candidates at schools
which we visit for recruitment. For other candidates, first
round interviews are held at UBS offices, or via telephone.
hOw tO APPLY
Submit applications online at www.ubs.com/mba.
GENERAL INtERvIEw AdvICE
Be prepared. Be yourself. Be honest.
Prepare for finance and accounting questions. Know why
you want to work in finance and what differentiates UBS
from other firms.
whAt wE LOOK FOR
We are looking for people that have an interest in and pas-
sion for finance. During an interview we will be assessing
the following: analytical skills, evidence of teamwork,
problem solving skills, communication skills, drive and
commitment, your understanding of the industry.
COMMON INtERvIEw QuEStIONS
• Walk me through a cash flow statement.
• How do you value a company?
• Tell me about a recent IPO you followed.
• Why do you want to do Investment Banking / Sales /
Trading / Asset Management?
• Why do you want to work for UBS?
• You may be asked about current business news or some-
thing from the Wall Street Journal.
MESSAGE tO INtERNAtIONAL StudENtS
UBS is a global organization and we recruit MBA candi-
dates across the globe.
Hire non-US citizens: Yes
106
MESSAGE tO wOMEN/MINORItIES
UBS can only achieve its global business objectives if we
respect and promote differences in background, perspec-
tives and expertise. This in turn will promote creativity and
innovation and produce business opportunities. Creating
an open environment where differences are valued and
respected is critical to the success of the business.
OvERvIEw OF OuR COMPANY
UBS is one of the world’s leading financial firms, serving
a discerning international client base. Its business, global
in scale, is focused on growth. As an integrated firm, UBS
creates added value for clients by drawing on the combined
resources and expertise of all its businesses.
UBS is a leading global wealth manager, a top tier invest-
ment banking and securities firm, and one of the largest
global asset managers. In Switzerland, UBS is a market
leader in retail and commercial banking.
CORPORAtE MISSION ANd/OR StRAtEGY
UBS is determined to be an employer of choice. Currently,
we employ over 80,000 people worldwide, have operations
in over 50 countries and have centers of excellence in all
major financial centers. UBS is listed on the New York,
Swiss, and Tokyo stock exchanges.
COMPANY hIStORY
The Union Bank of Switzerland (created in 1912) and Swiss
Bank Corporation (founded 1897) merged to form UBS AG
in June 1998. UBS Investment Bank (formerly known as
UBS Warburg) was formed soon after as a combination
of each firm’s investment banking businesses, creating
a powerful global entity with a presence in each of the
world’s financial centers. In 2000, UBS AG merged with
PaineWebber, a leading US private client business. With
the brokerage firm now a part of UBS, the Investment Bank
has significantly extended its retail distribution, research
and sales and trading capabilities in the Americas.
hOw wE ARE ORGANIZEd
The Businesses of UBS AG
Investment Bank: UBS Investment Bank is one of the
world’s premier investment banking and securities firms,
providing a full range of products and services to corporate
and institutional clients, governments, financial interme-
diaries and alternative asset managers
Global Asset Management: The Gl obal Asset
Management business is one of the largest global insti-
tutional asset managers, the second largest mutual fund
manager in Europe, and the largest in Switzerland
Global Wealth Management Business Banking: The glob-
al wealth management business provides a comprehensive
range of products and services individually tailored for
wealthy clients around the world. In the US, the business
is one of the leading wealth managers. Business Banking
Switzerland is the market leader in Switzerland, providing
a complete set of banking and securities services for indi-
vidual and corporate clients.
dESCRIPtION OF GLObAL PRESENCE
A global financial services firm, UBS’s major geographical
regions include North America, Europe, Latin America
and Asia-Pacific.
hOME OFFICE LOCAtION
London, New York/Stamford, Zurich
MANAGEMENt/OFFICERS
Group Chief Executive Officer – Marcel Rohner
CLIENtS/INduStRIES SERvEd
global Wealth Management Business Banking: With
more than 140 years of experience, the global wealth
management business provides a comprehensive range
of products and services individually tailored for wealthy
clients around the world. Our client advisors provide a full
range of wealth management services to clients -- from
asset management to estate planning and from corporate
finance advice to art banking. In the US, the business is
one of the leading wealth managers. Business Banking
Switzerland is the market leader in Switzerland, providing
a complete set of banking and securities services for indi-
vidual and corporate clients.
Investment Bank: UBS Investment Bank is one of the
world’s premier investment banking and securities firms,
providing a full range of products and services to corporate
and institutional clients, governments, financial intermedi-
aries and alternative asset managers. Its investment bankers,
salespeople and research analysts, supported by its risk and
logistics teams, deliver advice and execution to clients all over
the world. UBS Investment Bank also works with financial
sponsors and hedge funds and indirectly meets the needs of
private investors through both UBS’s own wealth manage-
ment business and through other private banks.
equities: UBS Investment Bank is a leading participant in
the global primary and secondary markets for equity, equi-
ty-linked and equity derivative products. Its business sells,
trades, finances and clears cash equity and equity-linked
products. It also structures, originates, and distributes new
equity and equity-linked issues and provides research on
companies, industry sectors, geographical markets and
macro-economic trends.
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COMPANY PROFILES
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Fixed income, rates and currencies: The fixed income,
rates and currencies business delivers a broad range of
products and solutions to corporate and institutional cli-
ents in all major markets. With professionals working in
the Americas, Europe and Asia Pacific, its offers clients
global service in its five major business lines of credit fixed
income, rates, commodities, municipal securities and for-
eign exchange and cash and collateral trading.
Investment banking: In the investment banking business,
UBS provides a range of first-class advice and execution
services to corporations, financial sponsors and hedge
funds. Its advisory group assists both public and private
companies in multiple aspects of a transaction including
negotiations, structuring, coordination of due diligence
processes, company valuations and drafting of both inter-
nal and external communications materials.
global Asset Management: The Global Asset Management
business is one of the world’s leading investment managers,
providing traditional and alternative and real estate investment
solutions to private, institutional and corporate clients, and
through financial intermediaries. It is one of the largest global
institutional asset managers, the second largest mutual fund
manager in Europe, and the largest in Switzerland.
LINK tO bASIC FINANCIALS
www.ubs.com/e/about/keyfigures.html
dESCRIPtION OF OFFICE CuLtuRE
UBS has made responsible corporate conduct an impor-
tant part of its culture, identity, and business practices. As
a leading global financial services firm, we want to provide
our clients with value-added products and services, pro-
mote a corporate culture that adheres to the highest ethical
standards, and generate superior but sustainable returns
for our shareholders. For our employees, we aim to provide
a first-class working environment that is based on the val-
ues of diversity and meritocracy.
UBS has created a distinct culture of ambition, per-
formance and learning that has enabled us to continually
innovate and broaden our expertise. Our vision encom-
passes all of these attributes and charts our course for the
future. Determined to be recognized as the best global
financial services company, we will earn this recognition
from clients, shareholders and professionals through our
ability to anticipate, learn, and shape our future, while
always delivering the very best quality in all that we do. We
share a common ambition to succeed.
AwARdS wON
• “Corporate Broker of the Year”, Acquisitions Monthly,
2006 – 2007
• “Most Impressive Bank”, euroWeek, 2007
• No. 1 Trader on NASDAQ and No. 2 Trader on NYSE
Autex, 2006
• “Best Bank Overall for FX”, FX Week, 2003 – 2006
• “Best Global Private Bank”, euromoney, 2005
For more awards and information, please go to
www.ibb.ubs.com/Awards/awards.shtml
uSEFuL/RECOMMENdEd LINKS
www.ubs.com
Link to employee profiles: www.ubs.com/mba
FuLL-tIME POSItIONS
UBS hires MBA’s into the United States, Europe and Asia
Pacific offices for the following business areas: Equities,
Fixed Income, Investment Banking, Municipal Finance
and Asset Management.
Number of full time hires Investment Bank: 110 Associates
in 2007
SuMMER POSItIONS (INtERNS)
The Summer Associate program includes positions in
Equities, Fixed Income, Investment Banking and Asset
Management. Offices in all three major regions hire
Summer Associates.
Number of summer hires Investment Bank (interns): 130
Associates in 2007
Percent of last summer hires extended full time positions:
80%
COMMON u.S. hIRING LOCAtIONS
CA, CT, IL, NY, TX
COMMON INtERNAtIONAL hIRING LOCAtIONS
Hong Kong, Japan, Singapore, UK
PROFESSIONAL CAREER PAth
Associate (Non-Officer)
Associate Director (Officer)
Director
Executive Director
Managing Director
UBS is an Equal Opportunity Employer. We respect and
seek to empower each individual and the diverse cultures,
perspectives, skills and experiences within our workforce.
© UBS 2007. All rights reserved.
108
uNILEvER
Company Profiles
uRL
www.unileverusa.com
tICKER
UN and UL
AddRESS
Unilever United States
800 Sylvan Avenue
Englewood Cliffs, NJ 07632-3201
PhONE
201-567-8000
INduStRY
Consumer Products
AbOut uNILEvER
160 million times a day, someone somewhere in the world
reaches for a Unilever product! With 400 brands spanning
14 categories of home, personal care and foods products, no
other company touches so many people’s lives in so many
different ways. Our brand portfolio has made us leaders in
every field in which we work. It ranges from much-loved
world favorites including Lipton, Knorr, Dove and Omo, to
trusted local brands such as Blue Band and Suave.
Great brands come from understanding and connect-
ing with our consumers. Unilever is always developing
new products, improving our brands, and promoting bet-
ter, more efficient ways of working with our markets. Our
product portfolio is diverse in response to the varying needs
of our customers across the globe. We’re constantly enhanc-
ing our brands to deliver more intense, rewarding product
experiences. We invest every year in cutting edge research
and development, and have five laboratories around the
world that explore new thinking and techniques to help
develop our products.
Dedicated to serving consumers and the communi-
ties where we live, work, and play, Unilever in the United
States employs approximately 13,000 people in more than
60 office and manufacturing sites in 24 states and Puerto
Rico —generating nearly $10 billion in sales in 2006.
MESSAGE tO MbA CANdIdAtES
You may think you don’t know who Unilever is, but you
do and we know you! In fact we have been there for you
for a long time. We may have even showered together! We
did if you use Dove, Lever 2000, Caress, Suave, or Sunsilk.
Our brands are probably right there on your bathroom
shelves. That’s right: we’re Vaseline, AXE, Ponds, and
Degree. We have helped you do your laundry with Wisk,
‘all’, and Snuggle. We have been there when you were
stressed out over papers and exams with Ben & Jerry’s,
Good Humor-Breyers, Lipton Cup-a-Soups and Teas.
We have had meals together over Ragu, I Can’t Believe
It’s Not Butter!, Skippy Peanut Butter, Hellmann’s and
Lawrys. And we have been there when you have needed
to take off those extra few pounds with Slim-Fast! So you
see, you really do know who we are! Do you have a passion
for the consumer? Do you want to learn more about how
people decide what they are going to eat and how they get
themselves ready for the day? If you want to be part of our
enterprising culture, have a bias for action and thrive on
innovation and speed to market, then please contact us
about joining Unilever.
dESCRIPtION OF hIRING PROCESS
Each year Unilever North America visits and interviews at
a variety of top MBA schools across the country where we
focus on identifying candidates who possess skills and val-
ues that are a good fit with our organization. Unfortunately,
we cannot visit all of you in person! Therefore, if we don’t
visit your school, and you think you are the type of person
that would be a good fit with Unilever, please send us your
resume by visiting our Web site at www.unileverusa.com.
hOw tO APPLY
First, check our list of core schools in the “Careers” section
of our website to see if and when we will be visiting your
school: if we are, please contact your career services office
to learn more about our campus visit. If we are not attend-
ing your school, please submit your resume online.
GENERAL INtERvIEw AdvICE
Our interviews are relaxed and designed to be stress-free.
This is our opportunity to get to know you and your back-
ground. Importantly, it is also an opportunity for you to get
to know us. We will always make time for your questions.
We believe the better we get to know one other the easier it
will be for all of us to determine whether you and our busi-
nesses are right for each other.
whAt wE LOOK FOR
Through our questions, we hope to determine if you pos-
sess the skills and competencies that we believe are critical
to the success of our organization. The questions are often
based upon, but are not limited to, areas such as team
work, leadership, creativity, and analytical ability. We also
look for individuals who have curiosity about and passion
for the consumer, a bias for action, a strong understanding
of the marketplace, and a desire to be part of a team-based
enterprising culture.
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COMPANY PROFILES
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COMMON INtERvIEw QuEStIONS
Although all of our interviewers will look for the same
types of things (per above), every Unilever manager has
a unique and personal way of going about the interview;
therefore, there may not be a lot of standard questions. You
can expect a mix of questions about your past experiences,
hypothetical business situations, and the real-world mar-
ketplace, however.
MESSAGE tO INtERNAtIONAL StudENtS
We encourage you to research the world of opportunities
we can offer you in your home country at www.unilever.
com/careers.
MESSAGE tO wOMEN/MINORItIES
Unilever is an Equal Opportunity Employer and strongly
encourages all individuals to apply for all positions.
CORPORAtE MISSION ANd/OR StRAtEGY
Unilever’s mission is to add Vitality to life. We meet every-
day needs for nutrition, hygiene and personal care with
brands that help people look good, feel good and get more
out of life.
COMPANY hIStORY
Though many of our companies date back to the 19th
century, Unilever was officially formed in 1930, the result
of a strategic alliance between Margarine Unie, a Dutch-
based margarine company, and Lever Brothers, a British
detergents company. By the end of World War II, Unilever
was a major international presence, with innovations that
transformed entire market categories, including the first
synthetic detergents and the first dehydrated foods, as
well as advanced technologies in edible oils and industrial
chemicals. We moved into frozen foods in the 1950s and
added toiletries, cosmetics, tea and household cleaners to
our product portfolio. In the 1980s, we ventured success-
fully into prestige personal products, bringing even more
broad-based strength and diversity to our growing list of
successes. Unilever has two parent companies - Unilever
NV and Unilever PLC – which, despite being separate
businesses, operate as a single unit with the same board
of directors. Unilever’s global headquarters are London,
England and Rotterdam, Netherlands.
hOw/whY wE ARE dIFFERENt
Unilever combines the spirit of a small company with the
power of a global business that allows for local risk taking.
The potential for development opportunities and per-
sonal growth is infinite because we can offer assignment
rotations across functions and business units in North
America and world-wide. No matter where you go in your
Unilever career, you will be inspired by exciting business
opportunities.
dESCRIPtION OF GLObAL PRESENCE
Unilever is one of the largest consumer products com-
panies in the world with more than $50 billion in sales.
Unilever employs approximately 179,000 people in around
100 countries.
u.S. hOME OFFICE LOCAtION
Headquartered in Englewood Cliffs, NJ, Unilever also has
offices throughout the United States including Chicago,
Illinois and Trumbull, Connecticut.
MANAGEMENt/OFFICERS
Patrick Cescau, Group Chief Executive
Michael Polk, President Americas
Kevin Havelock, Group VP Unilever United States
Ralph Kugler, President Home & Personal Care
Vindi Banga, President, Foods
Kees Van der Graaf, President Europe
Harish Manwani, President Asia AMET
James Lawrence, Chief Financial Officer
CLIENtS/INduStRIES SERvEd
All consumers everywhere!
LINK tO bASIC FINANCIALS
www.unilever.com/investorcentre/financialreports/
dESCRIPtION OF OFFICE CuLtuRE
Unilever is building an enterprising and team-based business
culture. The majority of our businesses have offices without
doors to reinforce our commitment to openness and accessi-
bility. We have a business casual dress policy and subscribe to
a stimulating, supportive, inspired work environment.
COMMON u.S. hIRING LOCAtIONS
NJ, CT, IL
SPECIAL PROGRAMS
Unilever offers a variety of employee programs tailored to
meet the needs of our valued employees. Such programs
include tuition reimbursement, open job posting, community
partners and alternative work arrangements to name a few.
dESCRIPtION OF tYPICAL PROjECt
Given the size and scope of the Unilever business, our
projects are typically very diverse in nature; however, the
primary focus of your responsibility will be on building
our brands.
110
PROFESSIONAL CAREER PAth
At Unilever, we offer a truly unique career proposition: a
career path which is specific to each individual. We offer
early responsibility and the chance to move up and around
quickly for the most talented individuals. In addition, our
career paths are flexible and alternative career moves are
supported. You might start your career in Marketing and
decide to move later into Human Resources or Finance.
Cross-functional and cross-company moves, as well as short
and long-term international assignments are also available.
bENEFItS SuMMARY
Unilever provides all full-time employees with a compre-
hensive health and welfare plan, 401k, company matching,
and retirement plan.
uNIvERSuM
Company Profile
uRL
www.universumglobal.com
AddRESS
1518 Walnut Street, Suite 1800
Philadelphia, PA 19102
PhONE
215-546-4900

hIRING PROCESS
The hiring process varies depending on Universum’s cur-
rent staffing needs and the types of positions available,
however, the hiring process typically includes: an initial
screening interview via phone, a formal face-to-face inter-
view, and a case study simulation.
hOw tO APPLY
Send cover letter and resume to
kortney.kutsop@universumusa.com
INtERvIEw AdvICE
Be confident and most important, be yourself. We are not
just looking for qualified candidates to fill an open position.
We are looking for bright, dynamic, personable individuals
who can bring their unique experiences and valuable skills
to the Universum team.
whAt wE LOOK FOR
We look for individuals with a keen interest in the employ-
er branding industry who are ready to jumpstart or expand
their careers with a truly dynamic, youthful, and global
company. The ideal candidate is a self-starter and team
player who possesses dedication, drive, impeccable com-
munication skills, and an entrepreneurial spirit.
COMMON INtERvIEw QuEStIONS
• What are your future career goals?
• What sparked your interested in the employer branding
industry?
• What can you contribute to the Universum team that no
one else can?
• What is your top academic/professional achievement?
• What type of managers can or can’t you work for?
MESSAGE tO INtERNAtIONAL StudENtS
Universum encourages international applicants to join our
already global team.
MESSAGE tO wOMEN ANd MINORItIES
We are always looking for top talent to join our highly
diverse team where mutual respect and acceptance of
differences is a cornerstone of our corporate culture and
where the majority of our top management are women.
COMPANY hIStORY
In 1988, Lars-Henrik Friis Molin was a student at the
Stockholm School of Economics in Sweden nearing the
end of his university education and considering which
career path to follow. At the time, there was very little com-
munication between students and the companies seeking
to employ them; gathering information on career options
and individual employers was extremely difficult, and
“companies were all saying the same things” even though
they were targeting different students. Dissatisfied with
the lack of communication, Lars-Henrik started a maga-
zine with the vision of fostering better communication and
understanding between students and the business com-
munity—a magazine that grew rapidly into a key source of
information for students about their career opportunities.
The early Universum team decided to conduct a survey
among their readers, intending to use the results to help
companies understand and better communicate with the
group they were trying to recruit. This type of feedback
was truly a first, and companies were extremely interested
in the results.
Today, Universum monitors the opinions of over
200,000 students and young professionals in 29 countries.
hOw wE ARE dIFFERENt
Universum offers a dynamic and creative atmosphere
where everyone’s opinions are leveraged on an equal
playing field and where everyone is given a high level of
responsibility and the tools needed to achieve success. The
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organizational structure is flat which allows for daily inter-
action with the CEO and other senior executives. We truly
are a global player and encourage employees to gain experi-
ence in any one of our international offices.
GLObAL PRESENCE
Universum currently conducts research in 29 countries
around the world, surveying more than 200,000 students
and young professionals worldwide—55,000 in the U.S.
alone, with offices in Europe, Asia, South Africa, and the
U.S.
OFFICE hEAdQuARtERS
Philadelphia, PA
MANAGEMENt
Claudia Tattanelli, CEO
CLIENtS/INduStRIES SERvEd
We are a trusted partner to over 500 clients worldwide,
including many Fortune 100 companies, serving a variety
of industries including investment banking, consumer
goods, and management consulting.
CORPORAtE MISSION ANd StRAtEGY
UNIVERSUM is The Global Employer Branding Leader.
As thought leaders, we drive the industry forward having
focused exclusively on Employer Branding (EB) for over 18
years. The integrated process of our unique Universum EB
Model is the baseline of our portfolio: research, consulting
and media solutions. We help employers to understand,
attract future, and retain current and ideal employees uti-
lizing our experience, knowledge and services.
OFFICE CuLtuRE
We offer a cubicle-free, creative, and casual working atmo-
sphere where social interaction and hard work are not
just encouraged, they’re expected. Every day, individuals
with different areas of expertise work as a team to create
effective solutions to client problems. We are constantly
evolving and for those who want to grow with the compa-
ny and contribute to its overall success and development,
the sky’s the limit.
bENEFItS SuMMARY
Universum offers a complete healthcare and dental ben-
efits package to all full-time employees.
[v]
vEStAS wINd SYStEMS
Jungle Profile
uRL
www.vestas.com
OFFICE hEAdQuARtERS
Portland, OR
PhONE
503-327-2000
MANAGEMENt
Jens Søby, President, Americas
dESCRIPtION
Vestas is the world leader in wind technology and a driv-
ing force in the development of the wind power industry.
Vestas’s core business comprises development, manufacture,
sales, marketing and maintenance of wind power systems.
[w]
wAChOvIA SECuRItIES
Jungle Profile
uRL
www.wachovia.com
OFFICE hEAdQuARtERS
Charlotte, NC
PhONE
704-383-1642
MANAGEMENt/OFFICERS
Ken Thompson , Chairman, President and CEO
dESCRIPtION
Wachovia Securities LLC is an integrated corporate and
investment banking platform that deploys a full range of
capital raising, market–making and financial advisory ser-
vices to meet the need of corporate and institutional clients.
It is a subdivision of Wachovia Corporation.
© UBS 2007. All rights reserved.
Who you are and where you come from are part of what makes you unique. This is why at UBS we value the
diverse backgrounds of our employees. As a leading financial firm with 150 nationalities, UBS believes that
looking at things from another perspective is crucial to our success. And the best view could be through your
eyes. Who you are is important. Together, we can realize who you want to be.
It starts with you: www.ubs.com/careers
UBS is an equal opportunity employer committed to diversity in its workplace. (M/F/D/V)
You &Us
Your exceptional talent drives
our success. It starts with you.
ml.com/careers
Merrill Lynch offers you unparalleled
opportunities to build your career. Our
premier brand and global capabilities create
a strong foundation for you to explore a
range of diverse career options. Working
within a dynamic environment, you will
contribute to our company's business growth
and momentum. It's a great time to join us.
Work alongside industry-leading professionals
to deliver exceptional solutions to our clients.
Expect to be a contributor, a collaborator and
a colleague.
For more information or to apply online,
visit ml.com/careers
Merrill Lynch is an equal opportunity employer.
MERRILL LYNCH
limitless potential
growth and momentum
inspiring colleagues
[ ]
ml.com/careers
Merrill Lynch offers you unparalleled
opportunities to build your career. Our
premier brand and global capabilities create
a strong foundation for you to explore a
range of diverse career options. Working
within a dynamic environment, you will
contribute to our company's business growth
and momentum. It's a great time to join us.
Work alongside industry-leading professionals
to deliver exceptional solutions to our clients.
Expect to be a contributor, a collaborator and
a colleague.
For more information or to apply online,
visit ml.com/careers
Merrill Lynch is an equal opportunity employer.
MERRILL LYNCH
limitless potential
growth and momentum
inspiring colleagues
[ ]




                                                     

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    

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Please check www. photocopying.com for updates. a Universum Company Printed in the United States of America .jungleonline. 1518 Walnut Street. Jungle Media Group. stored in a retrieval system. 3rd Floor New York. The material in this publication is for informational purposes only and is subject to change. or transmitted in any form or by any means—electronic. Suite 1800 Philadelphia. PA 19102 Copyright © 2007 by Jungle Media Group.the Companies You need to Know about seventh edition All rights reserved. Neither the companies profiled herein nor Jungle Media Group is responsible for any loss or damages resulting from errors or omissions in this volume. mechanical. No part of this publication may be reproduced. 174 Hudson Street. recording or otherwise—without the written permission of the publisher. New York 10013 Universum.

designers. brown-bag lunches. and which offer you're going to accept. ads. and retain their ideal employees. We polled insiders to bring you the scoop on salaries. but we still give you the basics in a short write-up. you can put this book away. and Hispanic Professional. top company videos. On the pages that follow. you’ll find our comprehensive collection of industry guides—behind-the-scenes reports on major fields from consulting to gaming to investment banking. and fun. as we know our readers do. and good luck in your job search. exactly which companies you'll apply to. researchers. about JunGLe media GRoup The world already has too many sawdust-dry business publications and Web sites. bringing back the insights and hard-won wisdom that will give you the competitive edge and help you master the art of success. understand. and events—guides our audience of highly educated talent in the search to identify ideal employers. ( Just ask us. including a majority of Fortune 100 companies. (In fact. or you're not quite sure what field to pursue. What  the Companies You need to Know about . But in case (like most of us) you'd like to know more about your options. the job hunt starts almost immediately after you arrive at business school. including Jungle magazine.) Our Web site and magazine go behind the scenes. aCKnowLedGments Jungle Media Group and Universum would like to thank our talented reporters.) In addition to the company profiles. If so. So enjoy this resource. career paths. Jungle Campus. exams. The goal of all these meet-and-greet info dumps. Which means that the companies are telling you. Universum is the Global Employer Branding Leader As thought leaders. cold calls. and receptions by the dozen. Jungle takes business seriously. we give you this tome—the latest edition of our guide to the recruiting world.com) throughout the year to stay up to date on the newest trends and happenings in B-school and beyond. we’ve been awarded a Distinguished Achievement Award from the Association of Educational Publishers and have been nominated for three National Magazine Awards. Most of them are written by the companies themselves.) Of course. Our full-solution media portfolio—encompassing some 40 employer branding publications. in their own words. Also: Be sure to check out Jungle magazine and the Website (jungleonline. and production team that made this book come to life: Industry & Company Profiles Emma Johnson Design Michael Wilson Editor Denis Wilson Copy Editor Lindsay Hicks Project Manager Anne Margrethe Mannerfelt Distribution Manager Christopher Veneziale We'd also like to thank the recruiters who took time out of their busy schedules to give us the inside story on how to get hired at their companies. We’re a trusted partner to more than 500 clients worldwide. we drive the industry forward. WetFeet Insider Guides. informative. you’ll find our acclaimed company profiles—the lowdown on recruiters who are looking for people just like you. having focused exclusively on Employer Branding for 18 years. We help employers attract. is to help you zero in on the single best company and single best position—the best overall fit—for your top-tier talent and experience. cultures. Jungle isn't among them. which publishes a portfolio of products. and getting into their businesses. Jungle Media Group is a media property of Universum. what you should know about applying. On top of the classes. Now. —The Editors we are is smart. witty. you’ll be hit with employer presentations. of course.FoRewoRd about this booK As you probably already know. and more. and papers. you may very well know just how you fit into the post-MBA marketplace. interviewing. (Some companies weren’t able to get us their profiles.

. . . . . . . . . . . . . . . . . . . .50 Bayer HealthCare . . .56 Booz Allen Hamilton . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .67 Credit Suisse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .97 PricewaterhouseCoopers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 Lehman Brothers . . . . . . . . . . . . . . . . . . . . .95 Universum .86 JPMorgan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63 Capgemini . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .76 Fidelity Investments .106 Wachovia Securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 Central Intelligence Agency . . . . . . . . . . . . . . . . . .66 Federal Reserve Bank of New York . .106 ConsuLtinG Industry Guide—Consulting . . . . . . .78 HSBC Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .56 Bain & Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .87 KPMG. . . . . . . . . . . . . . . . . . . . . . . . . 31 Bank of America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .69 Deutsche Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .72 Ernst & Young . 112 GoveRnment Industry Guide—Government . . . . . .78 Goldman Sachs. . . . . . . . . . . . . . . . . . . . 111 Citi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 UBS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 Merrill Lynch . .95 Morgan Stanley . . . . . . . . . . . . . . . . . .65 the Companies You need to Know about  . . . . . . . . . . . . . . . . 61 Bear Stearns. . . . . . . . . . . . . . . . . . . . . . . . . . . .62 Campbell Soup Company . . . . .63 Toyota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Consumer Care Division . . . . . . 9 Accenture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63 Boston Consulting Group . . . . . . . . . . . . . .56 Boeing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .62 maRKetinG/ConsumeR pRoduCts Industry Guide—Marketing . . . . . . . .72 Diamond Management . . . . . . . . . . . . . . . . .66 Deloitte. . . . . . . . . 112 eneRGY Vestas Wind Systems. . . . . . . . . . . . . . . . . . .76 McKinsey & Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .76 FinanCiaL seRviCes/banKinG Industry Guide—Investment Banking . . . . . . . . . . .industRY index automotive/tRanspoRtation American Airlines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Industry Guide—Franchising . .42 Industry Guide—Venture Capital/Private Equity . . 16 Industry Guide—Investment Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27 AstraZeneca Pharmaceuticals . . . .86 Medtronic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 Texas Instruments . . 104 sg j media & enteRtainment Industry Guide—Media & Entertainment . . . . . . . . . . . . . .83 Harrah's. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .78 Home Depot . .99 Philip Morris. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38 Industry Guide—Gaming . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .industRY index General Mills. . . . . . . .34 teChnoLoGY/teLeCommuniCations Industry Guide—High Tech/Telecom . . . . . . . . . . .24 Lockheed Martin. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Procter & Gamble . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 Google. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .76 Johnson & Johnson . . .56 Bristol-Myers Squibb . . . . . . . . . .63 Eli Lilly . . . . . . . .84 phaRmaCeutiCaL/bioteChnoLoGY Industry Guide—Health Care/Biotech . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 the Companies You need to Know about  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 Nestlé . . . . 100 Reckitt-Benckiser . . . . . .95 Pfizer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .85 L’Oréal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103 Unilever. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 ReaL estate Industry Guide—Real Estate . . . . . . . . . . . . . . . . . . . . . . . . . . .

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you can expect to work a lot. many companies are choosing to outsource activities previously performed internally. Also. while Mercer Oliver Wyman specializes in financial services. as well as from the competition. However.” There are many happy hours and team dinners.T. Packages generally include benefits and bonuses (10 to 50 percent of annual salary). We did talk to a few consultants who only have to travel one or two days a week or 25 to 30 percent of the time. “After a short time ThE CompaNIES YoU NEED To KNow aboUT  . you can expect to make anywhere from $85. wireless laptops. Many Collegial. as lowerlevel staff do more number crunching and analysis. has caused many former executives and recent B-school grads to join the ranks of consulting firms.INDUSTRY GUIDE [CoNSULTING] also host special presentations on campuses to inform and educate MBA students about their unique missions and cultures. Bain & Company. combined with the latest in mobile technology (i. and the rapid expansion of the Internet and the emergence of new technologies has added to the groundswell. You want to get along. Most major consulting firms actively participate in both on and off campus recruiting. “project socializing is frequent and expected. Crunch periods are more intense. Kearney.. and The Boston Consulting Group. A technology consultant says. Team bonding is an important part of most projects. many consultants spend a great deal of time on the road traveling to client work sites. TRENDS As mentioned. this can vary from project to project. The typical schedule is Monday through Thursday at the client site and Friday in the home office. Recent economic developments and corporate trends have increased the number of consulting firms. most consultants travel at least three to four days a week. Inc. Of course. They identify managerial and institutional problems. hoURS Consultants’ office hours generally aren’t as grueling as those of investment bankers. Likewise.e. including unique industry-specific knowledge and experience.” oFFICE CULTURE Recent years have brought a spate of branding advertisements from several consultancies. Many firms focus primarily on one industry or function. for example. and some offer additional perks like a company car. GETTING hIRED Depending on the school. They seem to be the lucky few. Partners can make anywhere from $400. leaving home on Monday and returning on Friday. BlackBerries. Time-constrained senior managers often rely on consultants to bring unbiased outside perspectives to problem solving. and assist in implementation. friendly. As one senior manager explains: “You’ll be spending 10 to 12 hours a day with these people.000 to $150. especially when working out of town. According to one insider. and Diamond Management & Technology Consultants. TRaVEL The industry began with the founding of Arthur D. cell phones) results in most consultants’ logging 60 to 70 hours per week. Booz Allen Hamilton. A consultant’s independence allows for enhanced access to information from internal sources.000. Today’s roster of prominent firms includes A. it is increasingly important for firms to differentiate their offerings. Protecting brand reputation took on even more importance in the wake of corporate scandals such as Enron and the resulting questions about independence of consulting and auditing functions within a single company. while more senior staff focus on business development activities and strategic decision making. The Advisory Board Company is prominent in the health care arena. Consultants may bring many resources to the table. recommend and develop solutions.000. McKinsey & Company. and close-knit are terms that came up often in discussions of the atmosphere in this industry. SaLaRY oVERVIEw Consultants provide a wide range of services to businesses. Whether you’re an associate or a partner.000 to $250.000 to more than $1 million a year. with project teams working 75 to 80 hours a week. The nature of the work will differ. As the industry undergoes consolidation. perform in-depth quantitative and qualitative analyses. are staples of a consultant’s lifestyle.” One summer associate agrees that “an emphasis is put on social gatherings. as many as 30 to 40 percent of MBAs enter this field. Senior managers make $200. maJoR pLaYERS Just out of business school. Little in 1886. One technology consultant says that she “traveled every week for three years. A heavy travel schedule. combined with corporate downsizing. Accenture. Some of the most prominent IT firms are IBM Global Services.” Client dinners. though. Sometimes you will be lucky enough to have a client in your home city. This trend.

. Other sectors are more academically diverse. mostly Ivy League. Consulting Magazine. Less so in terms of race. A recent MBA in the industry explains. PhDs in everything from physics to literature. We spoke with many insiders who took this traditional route to get into the industry. almost everyone has an MBA. One associate at a management consulting firm says his colleagues come from “extremely diverse backgrounds— MBA. and JDs. which adds to the richness of team dynamics. the firm as a whole is very international. like strategy. “Since most people travel a lot. professional and serious. at one of the industry’s oldest and most elite firms. recent hiring patterns demonstrate strong efforts to produce a more diverse workplace.” Most clients are also business casual. however. “Social life depends on the client situation since much of the socializing takes place on the client engagements.” This concept of work-fun balance surfaced again and again. cognitive-skills sets.” ThE CRowD The overall consensus from the consulting crew is that they love the people they work with." one associate says.” Though a couple of conservative companies still cling to dark suits and ties. the same people are very easygoing and we have a lot of fun at team dinners.” She finds it “hard to specify a ‘culture. Thus.” One strategist at a small e-business consulting firm boasts: “We have computer science grads. The Wall Street Journal. Know which one you are interested in. “We don’t do as much bonding as we need to. use your alumni base. and one associate even says. .” Another associate. An important caveat: The consulting culture varies not only from firm to firm. • Learn as much as you can about the companies you would like to work for. One senior consultant attests that his big firm is “extremely balanced in terms of gender. I was amazed at all of the different languages being spoken” Others commented on their mutilingual colleagues and the plethora of people who have studied or lived abroad. says. • Read Consultants News. her colleagues also include a “potpourri” of PhDs. but also from project to project and partner to partner within a firm. set up informational interviews with recent grads. “However. It’s a very congenial atmosphere because people have a lot to catch up on when they run into each other. When I visited corporate headquarters.” In some areas. • Be familiar with the industry—talk to friends. MD. and hard-working. and. so the atmosphere “varies from country to country. more staid consulting firms. “They are an incredibly bright group of people to brainstorm problems with. Others networked their way to the position they wanted (particularly those interested in e-business or Internet-related jobs). Smaller or start-up firms are the most diverse in the industry. One manager with a strategy focus says. etc.” GETTING IN Consulting firms recruit quite heavily on B-school campuses. A managing director at one such company says: “It is much less prescriptive than Big Five or other. Many of the large consulting firms are very international.” There are definitely more women in this industry than in banking or finance. within countries. yet have a fun side. outings.’ How do you build a culture when your employees are seldom gathered in one place? Employees work at client sites four to five days per week. are highly self-motivated. etc. We have more creative and technical folks and fewer MBA types. 10 ThE CompaNIES YoU NEED To KNow aboUT . business backgrounds.” She says that in addition to Harvard and Wharton B-school grads. philosophy majors. you have no idea who you will see when you walk into the office. there aren’t any permanent desks. from office to office. “The people I work with are the best part of my job. Fortune.” one consultant says. international degrees.” Another says “Everyone is smart. This is the most creative. top B-school grads—motivated and hard-working. How do you imbue them with certain values and attitudes?” Many consulting firms are international.” Another says. the motto is “We go by their rules. Business Week.” Many thrive on the social atmosphere.INDUSTRY GUIDE it feels like your only friends are from work. however. “People typically have some industry experience. most consulting firms these days are business casual. One MBA at such a firm says: “My particular practice is not as diverse as it should be or needs to be. diverse group of people I have worked with in my life. All offered myriad tips on the best way to get your foot in the door: Getting Started • Don’t cast your net too wide. as well as a really fun bunch of folks to hang out with at a baseball game. MDs.Sometimes the expectation of a ‘work-family’ is a bit too much. On the other hand. I also find most people fun—that’s the only way we can be together 12 hours a day!—and very interesting.. but you should have a few suits handy just in case. however. “My coworkers are analytical and curious. We use the ‘hoteling’ concept and make a reservation for a desk when we will be there. JD. When on the client site. “There is a fantastic diversity of backgrounds and previous work experience. and lots of masters degrees in arts and sciences.” The atmosphere can be very transient. There are different kinds of consulting.

” • Show that you can adapt quickly to new situations and are not afraid of travel and change. divestitures. He is now a partner himself. meaningful conversations with them at cocktail parties or on the phone and then leave them alone. Interviewing Tips • Express enthusiasm for the work. Networking Tips • Attend industry events in your area.” • “Practice more case interviews” (a very common sentiment). • Don’t inflate something into more than it is. • Make sure you are very comfortable with the case interview—practice. and you have a better chance of getting in if you have an advocate(s). One MBA at a management consulting firm landed his job after sitting next to one of the partners on an airplane.” • “Tailor my responses much more to the culture of the organization. either in words or in dollars.” If I could do it again. and implemented the solution successfully. Summer internships are competitive but can be invaluable opportunities. This also lays the groundwork for the interview process. • “Establish a greater understanding of the different types of consulting. managed.” • “Go to firm-hosted behavioral-interviewing technique workshops. • But at the same time. Otherwise. • Act “fun. etc. led.” • Don’t rely on a cover letter.” • “I would spend a significant amount of time working on client documents.” • “Research which areas within the firm offer the best chances for advancement.” • “Focus more on learning about the firm’s values and approach.). • Have a sense of humor.m. etc. A potential employer will be more likely to say. analyzed the problem. • Stress communication and interpersonal skills as well as analytical and research skills. • Don’t underestimate the “soft skills” (basic etiquette and social skills). You will make a better impression this way. • Always be ready. I wish I had known that: • “You won’t be passionate about every project yet you must become at least somewhat interested in it if you are going to survive working the long hours on it. formulated. “Demonstrate leadership abilities and experience.” • “Not all projects are glamorous. • Before you go in. • “Firm knowledge is overrated. you stand a larger chance of leaving the impression that you don’t follow through than you do of “bothering” the person. Provide an example of the results. don’t hound the people you know at each firm.” Everyone wants to have fun. Says one veteran: “It will come out during the interview. alliances. found solutions. Have quick. but an exhaustive knowledge of the firm alone won’t get you the job. I would: • “Research more of the history of the firm and the direction it wants to take in the future. practice. with this person. • Highlight any global experience. • Include extracurricular activities. “I could stay up until 5 a. • If any of your friends are in companies that are hiring. Resumé Tips • Highlight leadership experiences (president of consulting club in B-school. find out what their hiring process is. hard-working people on his or her team. You need to know the basics.” ThE CompaNIES YoU NEED To KNow aboUT 11 . assessed. You want to get on projects that have short time-frames in case you hate them. and match those to my own values and skills. • Demonstrate technical knowledge and experience.CoNSULTING • Hands-on experience is the best way to get an idea of what a particular firm is all about. You have to have the skill and analytic fundamentals the firm is looking for. Charity and community work are a plus. • If you say you’re going to call. Many companies like to hire people who are friends or acquaintances of the people they have already invested in. • Key words: analyzed.” • “Some projects go on for months and months. and misrepresentation will surely kill you. Employers like to see that you have a life outside the job. read the Wall Street Journal archives and the firm’s Web site for recent news. call. • Attend company events and get to know people you can refer to in your cover letter. Demonstrate that you identified a problem. The majority are not.” • “Clients aren’t always easy to work with or grateful for the assistance. practice. • Explain what you did to make an impact on a specific project.” • “You don’t always have a say about which project you are assigned. Get to know a few people at each one. Some applicants are already “dead” by the time they get to the case part. mergers.” Before I entered the consulting industry. You need to lobby and network to get on projects that are right for you. Build relationships.

if elected. and have a basic thirst for problem solving. There will definitely be crunch periods in most projects.e. One MBA stayed in his position at one of the industry’s elite firms for only nine months before he left to join a small healthcare strategy firm. your work may move in cycles: You can be very busy for a couple of months and then slow down considerably for a while..” An associate at a midsize consulting firm reveals that “people move up in title. An appetite for constant challenge helps. Small companies are much less hierarchical. “As opposed to the big consulting firms where you are always looking to the next level to make an impact. Consulting is based on selling ideas and concepts. Also. although these ranges are typical. at a client site. A manager at one of the largest firms: “In a typical week.” How to make the final decision: Your final choice should be determined not only by the growth opportunities and the money a firm offers.” • “Networking is paramount in this industry. Insiders can’t stress enough that the culture of a firm makes a big difference. in front of larger audiences. and schedules vary from project to project. moVING Up whaT IT TaKES Many describe the consulting culture as “up-or-out” with “tremendous upward mobility. You need to function well in an unstructured environment. and even when you land an assignment in a really great town. At most traditional firms. not as an academic exercise. “You need to be able to stay up late without getting cranky. You must be willing to rearrange your schedule at any time and have the adaptability to work under any circumstances.” • “Traveling all the time and living in a hotel is not at all glamorous. As we said. and compensation very rapidly. You need to be able to get up to speed very quickly.” Many consultants hardly know when and where they’ll be traveling. Promotion typically happens when the individual is ready--i. many people aren’t sticking around for promotions. They are also confident with numbers. can think logically and challenge assumptions.” The standard time to remain in a position seems to be about two to three years. You must be able to communicate complex concepts effectively one-on-one. however. it usually takes about five to nine years to make partner. but also by its culture and the people that you will be working with. and either unmarried or with an exceedingly understanding and supportive spouse.” • “That you rarely get to travel to ideal locations. and in written documents. you fly to the client site early Monday morning. you do advance according to your ability. You won’t always have an office. Know how to focus on core issues while removing distractions. has acquired the requisite skills. You will work closely with your team. regardless of my title. some say that to succeed in this business you must be very driven. Stamina is also an important quality. However. responsibility. The team-client relationship is very important. over a conference call. Of course.” • “The skill set required changes as you move from senior consultant to manager to partner. here’s what we managed to draw out of a few of them. TYpICaL DaY Most consultants are hard-pressed to define a “typical day. On a personal level. We have some people whose compensation has nearly doubled over a two-year period. That said. Career paths aren’t as clearly defined. you will likely work so much that you won’t see much of it. As one industry insider bluntly puts it. or sometimes even a phone. You should also be deliverable-oriented: Approach projects with the end in mind. You will have multiple meetings during the day with the client and/or with your team. Good consultants remain calm and focused under tight deadlines and manage their time wisely. almost half burn out after the first two or three years and move on. so you must be persuasive and aggressive when necessary. Make sure you visit offices to try to get your finger on the pulse of the place before you make any decisions. Depending on the time-frame of the project (really short time-frames can mean really long hours). they are not set in stone. You will have a desk or a work space (maybe in a conference room) where you work on your computer on the part of the project you’ve been assigned to.” one insider says.” By some rough estimates. I am making that impact. argue that this extremely low number is atypical. He estimates that only about one out of every 40 associates at his old firm stays and makes it to VP.” Communication and interpersonal skills are integral to success in this business. “Although there are more or less set time patterns for progression. a desk. “More and more senior people are coming from outside the industry because junior people find it hard to work their way up due to the demanding lifestyle. culture can vary significantly across firms in this industry. Other insiders. you 12 ThE CompaNIES YoU NEED To KNow aboUT .” The most common response is “There isn’t one. so you need to be able to get along with a variety of people. Says one member of a 100-person ebusiness consulting firm. Successful consultants are analytical and possess strong deductive and inductiv reasoning skills.INDUSTRY GUIDE • “The travel demands would impact my life. The learning curve is steep. This can be a nomadic business. in the office.” Flexibility in this business is key.

” A tech consultant who’s been in the business for four years: “I arrive at the office by 7:30 (a. Your dinner may be ordered in. one week off. conduct interviews. with one week on.” A first-year associate at one of the industry elite: 7:30 >Team huddle. By 9:30. meet with other team members to discuss project issues. I generally spend from 10 to 4 in meetings or chasing down issues related to the project. and go home. bUZZwoRDS Deliverable Deck Business model Leverage Segmentation Disaggregation Value proposition Value chain Integration Billability Disintermediation ThE CompaNIES YoU NEED To KNow aboUT 13 . You make phone calls or visits to prospective clients for sales calls. We sometimes dine as a team. Most days end with answering e-mails and voicemails [from client team members or internal initiative leaders] in your hotel room. Personally. training and research are typically conducted in the home city.” A first-year manager at a large management consulting firm: “I either wake up in the hotel or really early to get to the airport.CoNSULTING will either work until 6 to 7 p. or dining with a client 4-5:00 > Client leaves: We may touch base with them before their departure.m. stay in top hotels. London and L. schedule interviews. but most of the solo work usually takes place back at the hotel. or midnight. You develop proposal letters. prepare for the next day and then get dinner (usually with someone from the project).m. I don’t mind the travel because I am home most weekends and I like the cities.) for some quiet work time.m. start presentation production 1:00 > Team lunch 1:30 > Visit client site for update meeting 4:00 > Back in office. I am rarely in the office on the weekends. The day is usually filled with team meetings. I have lunch with prospective candidates once every week or two. but spend part of every Sunday reviewing materials at home. Since I am involved in recruiting. I divide my time between interviewing and otherwise tracking down information. problem-solving and synthesizing findings with my team.A. develop PowerPoint presentations. We all get to the client site around 8 a. There is some individual work at the client site. providing a great deal more flexibility.” A second-year associate at a large firm: “I get into the office around 8:30 a.” A partner at an e-business management consulting firm who’s been in the business for seven years: “You fly to the client site in the morning and meet with the client team to review progress and deliverables. I check on my team again and then reply to all of my e-mails.m. and we go to great restaurants. and evenings are for catching up on e-mail and phone calls. and often a meeting with the senior manager or partner we are working with so we can bring them up to speed. run spreadsheets.). I spend 20 minutes checking e-mail and deflecting enough issues to have a free hour from 8 to 9 during which I try to make progress on actual deliverables (preparing a presentation. some meetings with clients. I meet with my team members to ensure that everyone has a manageable amount of work and isn’t facing any big issues. and eat well. however. gather facts. reviewing work of one of my direct reports). I am a huge fan of the order in or the ‘Let’s take a break for an hour and go grab some food’ options. continue analysis 7:00 > Dinner with/without team 9:00 > Continue working back in hotel/team event once a week 11:30 > Respond to e-mail and voicemail from hotel A senior consultant in the manufacturing sector: 6:30 > Wake up and check e-mail 7:30 > Meet with team for morning breakfast meeting (every other day) 8:15 > Arrive at client site and have second meeting for daily planning 8:15-5:00 > Conduct interviews. My time is evenly split between my home city (New York) and two other cities (in my case. I enjoy meeting new people. so this usually means a quick meeting of some of the team members with client members 6:00 > Conduct a status check and decide where we’ll eat dinner Note: These are descriptions of typical days on a project. After 4. You attend meetings with client senior execs. Around 6. At least once every month or so. my whole team does a fancy dinner or goes to a ball game or another fun event. I do some more solo work. While not on a project. conduct research 12:00 > Lunch—could be a hot dog at your desk.m. plan for day 8:00 > Start analysis. meeting with the team. and document preparation. and generally leave by 9 p. or you may feast on vending machine food.

PowerPoint. it’s unlikely an individual will directly advise top management.” Myth: You have to travel to succeed. Myth: This is a glamorous industry. travel • Possibility of being assigned to a project that doesn’t interest you • “Your workload and happiness are to a large extent dependent on your project manager.” Reality: “Well. Even if it is.. “I might never have a successful relationship as a result of this job and this travel. analysis) Cons • Long hours • Rigid up-or-out system • “You aren’t really a master of one topic. Myth: Consultants fly in. We are accepting of others’ schedules. “You work with highlevel clients in some of the top businesses in the world. Myth: Consultants travel to exotic locations. travel. always learning something new • Opportunity to create a significant impact • Intellectually stimulating: “My mind is running a constant marathon and I love it!” • Excitement of a new job every time a new project starts • Transferability of general skills acquired (communication.” • Challenge • Travel • Exciting topics • Intelligent.” • Difficult to balance life and career. and vision coverage • Season tickets to athletic events (usually for entertaining clients) • Business-class travel • Fancy company dinners • Cell phones and BlackBerries (or a combination) • Big events and parties • Frequent-flier miles. pRoS & CoNS Myth: Consultants work all day and all night. I can go from an outof-town project to an in-town project if I want to. tell top management what to do. Your clothes are always wrinkled.” Myth: Once you get into a prestigious firm. project management. Reality: “My firm is really flexible. etc.INDUSTRY GUIDE Bandwidth Knowledge capital Horizontal and vertical industry structures Organization building “On the beach” mISCoNCEpTIoNS Reality: Senior staff does most of the strategizing while junior consultants generally (there are exceptions) do the supporting analytics: number crunching. The client usually knows more than you about their industry.” • High level of social integration required for success at many firms GREaT pERKS • Four weeks’ vacation • Full family medical. you’re homefree.” Myth: “We are a bunch of arrogant. Reality: “In general. A consultant can often redeem enough miles for a vacation for the whole family from all 14 ThE CompaNIES YoU NEED To KNow aboUT . It’s a couple of years before you are interacting with key executives. To tell them something of value requires a great deal of work. Reality: There are actually some firms that are finding alternatives to this “rite of passage” in the consulting world. Myth: The travel is hellish. Reality: “Hotels and airline delays are not glamorous. and the expectations grow over time. and fly home. One respondent went so far as to say. top management will be a pretty bright group of people.” • Travel. Reality: A consultant’s hours tend to ebb and flow depending on the project and client. At the entry level. energetic company culture • Great training • Extensive professional networking. Reality: You must prove yourself during each project. know-it-all business school bozos.. Pros • Fun. Reality: Your location is dictated by your industry-client combination and it’s frequently not exotic. etc. research. you’ll have little opportunity to play tourist. and you will do day trips to New York City two days in a row just so you can sleep in your own bed at night. dental. Everyone needs flexibility to go to the dentist. Undergrads and entry-level MBAs do mostly analysis and research. high-energy colleagues • Competitive salary • Fast pace.” Myth: Junior people play a large role in crafting strategy.

many consultants do have the opportunity to visit fascinating locales around the world. you can stay there for the weekend).CoNSULTING the travel over the course of a year. • Nice hotels • Opportunity to stay in the client location (For example. if you have a project in San Francisco or Puerto Rico. Even though it is usually hard. you can expect to rake in several million each. • Travel. or fly somewhere other than your home city it to partner. ThE CompaNIES YoU NEED To KNow aboUT 15 .

a wave of monster M&A deals has sent profits soaring for several Wall Street establishments. Goldman Sachs. Top-tier names include Merrill Lynch. breathe. the process of raising money for corporate clients. there are always exceptions: One high-yield salesperson claims to be “on the road all the time. but larger economic forces have given the investment banking sector a tinge of volatility not seen in recent years. Signing bonuses are usually about $20.” oFFICE CULTURE Most investment bankers aren’t in the business for spiritual fulfillment. and enough money to keep the closet stocked with Zegna suits and Ferragamo ties. sailing trips. SaLaRY Most I-banking jobs aren’t travel-intensive. However. 16 ThE CompaNIES YoU NEED To KNow aboUT . Vice presidents generally pull in about a half-million yearly. On the other hand.” I-bankers do leave the office from time to time. Sales and trading is the sector of investment banking usually portrayed by Hollywood.000 for recent MBAs. Morgan Stanley. Sales and trading salaries start at about $75. Credit Suisse. in fact. maJoR pLaYERS You make a ton of money in this business. and sometimes sleep in the office. excursions to sporting events. LaTEST woRD oN ThE STREET In recent years. lies at the core of the traditional investment bank. Salespeople and traders buy and sell securities and commodities.000. I-banking is one of the most fast-paced and lucrative industries around. Their bonuses depend on the accuracy of their forecasts. investment banks are the best place to make a lot of money in a short amount of time. Research analysts often earn more than those in other positions at investment banks. It’s a high-pressure. Lehman Brothers. Most corporate finance MBAs we spoke with said they averaged 80 to 100 hours a week during their first years as investment bankers. and their advice is extremely powerful in the industry. Citigroup. Merrill Lynch took nearly $5 billion in writedowns for the same quarter related to credit woes that hit much of Wall Street and contributed to the I-bank declaring a quarterly loss. Deutsche Bank. Based on our survey. and JPMorgan Chase. There are happy hours and client dinners (one insider characterizes his colleagues as “excessive in food and drink”). status.” The I-banking community is described by most insiders as “close-knit. and year–end bonuses can be almost as much as your base salary. investment bankers work to raise capital and provide investment advice for the bank’s clients. though. Your first three years as an associate or a research analyst will be dedicated to your work. neither investing nor banking. Most insiders agree that you should be willing to put everything else in your life on hold. TRaVEL The “bulge bracket” consists of the largest of the full-service investment banks. UBS. They work to predict the movement of specific stocks. and you should definitely have a few suits in your closet. Broadly. “We have very small desk spaces and they are packed close together.” most likely because employees eat. Goldman Sachs’ 2007 third-quarter profits were way ahead of analysts’ predictions with the firm’s investment segment producing record quarterly revenue of $2. radio. and more. Many firms on the Street are loosening up and have recently changed their dress code to business casual. Investment banking is. Investment banking is still a conservative industry.15 billion. but are never staffed out of town like consultants. Top analysts often win television. Research analysts generally focus on either fixed income or equity.” Others are on the road one to three times a month. Things are still sweet on Wall Street. One of our insider contacts believes that “outside of high-flying tech companies and VC firms. Tip: Investing in golf clubs and lessons is probably a good idea. the sales and trading workweek averages about 55 hours. and they don’t pretend to be. market-driven culture. And if you makeyear at the top firms. but you’ll be hardpressed to find time to spend it.000. and/or Internet gigs where they can make even more. We spoke with one lucky associate who says he travels “only for golf tournaments and conferences. The hours in sales and trading are more reasonable. Even though it’s notorious for endless hours in the office. though. hoURS oVERVIEw It’s a job that involves power. though.INDUSTRY GUIDE [INVESTmENT baNKING] Packages for associates in the corporate finance area just out of B-school hover around $150. One associate attributes the bonding to the office space. The industry breaks down into three main categories: Corporate finance (CorpFin to those in the know).

I-bankers work under extremely stressful conditions. “The more you make. The ability to learn quickly.” Through it all. it would be accounting. you’re not going to get an offer. whaT IT TaKES Investment bankers must possess superior quantitative and analytic skills. who reported that during one interview. but the numbers are still pretty low. as is a passion for the markets. This is a lucrative industry. sometimes including as many as six rounds of interviews. since only about 30 percent of MBAs are female.” This isn’t surprising. Your best bet is probably in the sales and trading field. However.” That advice is seconded by another respondent.” You do have to get along well with clients and colleagues. make phone calls. until you’re at the vice president/managing director level.INVESTmENT baNKING ThE CRowD This industry is definitely not the most diverse. “People have the opportunity to take on more responsibility early and grow with that responsibility. mostly white—although there is a growing number of Asians—and mostly from top-tier academic programs.” Case studies are also popular with I-banking interviewers as a tool to evaluate a candidate’s quantitative and analytical skills. Make sure the interviewer understands that you know a lot about the company and are ready to make a commitment. As one associate points out. You are also well advised to attend interview workshops to hone your skills.” As a woman. The interviews themselves can also be trying. Almost everyone we spoke with got his or (her) first post-MBA jobs this way. hands down. she is definitely in the minority.” GETTING IN On-campus recruiting is the most common route to landing a job in this industry. There are few changes in responsibility with title changes. and the like. “If I had to suggest one course [for investment banking hopefuls]. and so does its rigorous selection process. This business requires endurance.” says one associate. but those who thrive in the high-stress environment are those who really love the work. If you just go through the motions. Several respondents emphasized the importance of understanding accounting. second-years can offer a wealth of knowledge and advice. is crucial.” You are typically an associate for four years and a vice president for four years before moving up to the rank of senior vice president or managing director. “I had to verbally construct a cash-flow statement. For a first-year student deciding what path to take and looking for a summer position.” We spoke with a female analyst who agrees: “Mostly male. The hiring process is exhausting. but I’m always amazed at the number of dopes out there who have no good answers. if you have a nontraditional background. B-school offers many resources that can help you prepare for interviews in this industry. though. ThE CompaNIES YoU NEED To KNow aboUT 17 . One even advised second-years to treat the process as they would a class. Many who have been through the process recommend scheduling interviews at firms in which you are less interested first so you can get warmed up before you go for the gold. one of the hallmarks of this industry is that you can move up quickly. Veterans recommend doing your research before every interview. “These are easy questions. the faster you move. and to absorb and synthesize information on the spot. A Wharton MBA and former associate at one of the most prestigious Wall Street banks tells a tale of one interviewer who pressured him to reveal his grades even after he explained that it was against his school’s honor code.” moVING Up There is a lot of mobility in the business—if you bring in money. Let them know that you are aggressive and dedicated but still fun to be around. Most of the insiders we spoke with highlight ambition and an aggressive personality as keys to success in this business. “Wall Street has tried to make a strong effort to improve the number of women at firms. One even went so far as to say that people who do well in this industry are “playground bullies. An associate director at one of the largest banks in the world says that “aggressiveness distinguishes the men from the boys. Remember that thousands of MBAs are applying for only a few hundred jobs.” but adds that it is “getting better on this front. it can be tough to get an investment bank position. The atmosphere is “testosterone-charged. Another admits that it is “mostly white male-dominated. You must follow up and be persistent. economics. You should also be prepared for straightforward questions like “Why do you want to be an investment banker?” “What interests you about finance?” and “Why do you want to work for this bank in particular?” One interviewer sniffs. is of course.” In fact. People who follow up. and it’s essential to think quickly and effectively under pressure. hot products. and accounting.” Read recent articles and understand current conditions. Most schools have workshops that discuss relevant industry topics. and “study hard. A well-rounded academic background in finance. a plus. and demonstrate that they really want a job at this firm do the best. remember that these people are looking for someone with whom they will want to spend 100 hours a week. “Most of my female classmates in Bschool did not focus on investment banking. Strong communication skills are a must.

” Sales & trading associate: “Arrive at the office around 7 a. presentations. GREaT pERKS Teamwork Leverage Buy rating Undervalued IPO Secondary offering Long/short Volatility duration Purchase/pooling Yield curve pRoS & CoNS • Tickets to sporting events • Lots of free drinks and dinners • Late-night car service Pros • Potential to make a lot of money • Fast pace • Smart people • Opportunity to learn a lot quickly • Client interaction • Never feel like a cog • Projects aren’t overstaffed. with all of its stresses as well as rewards. It’s all worth it. though. Even as a veteran. One diplomatic insider says. Reality: You will have to pay your dues in the beginning.m. Myth: This is “easy money. and client meetings. so everyone has the opportunity to make an impact • Always something different • Exciting to get close to transactions and companies and to read in the paper about a deal you worked on Cons • Pressure and tension • Tremendous stress • Long hours. you won’t always be closing deals appearing on the front page of the Journal. will be your life during your first couple of years in this industry as a banker or trader. “It would be better if it were nine-to-five. Read messages and trader comments until 8. client presentations.” • Bureaucracy of a big bank • Big egos mISCoNCEpTIoNS Myth: “Stress doesn’t affect your life. The rest of the day is market-dependent.” Reality: Your job. 18 ThE CompaNIES YoU NEED To KNow aboUT . There is grunt work that goes into making things happen.” Reality: You will put your blood. sweat. Early afternoon is usually devoted to conference calls. and tears into your job in investment banking. Start calling clients for scheduled daily calls between 8 and 10. Salespeople have it a bit easier. Most work is very group-oriented.INDUSTRY GUIDE TYpICaL DaY Investment banking associate: “Arrive at the office at 9 a. You’re not in the middle of the big mergers right away. Every penny is hard-earned. when you play an integral role in an exciting transaction.m. I split my time between financial modeling. The day ends around 10 or 11 p..” bUZZwoRDS Myth: This is a glamorous industry from day one.m. There is no typical day.

Price strategy: Determining the price or discounts for your goods and services. Channels of distribution: Determining how to bring your goods and services to the market. Consumers today are bombarded with more information than they can process. United Technologies) Pharmaceuticals: Prescription drugs (Pf izer. while in other sectors it may play a more supporting role. content. The American Marketing Association defines marketing as “the process of planning and executing the conception. positioning. In the consumer products industry.maRKETING [maRKETING] Product management: Managing all aspects of marketing and development for a product category. Sales: Generating transactions These marketing functions encompass a wide variety of goals. promotion. Product or services mix: Determining the mix of your product and service offerings. Public relations and communications: Determining overall brand positioning and managing communication channels to generate publicity and influence public perceptions. Bristol-Myers Squibb) ThE CompaNIES YoU NEED To KNow aboUT 1 . Branding: Enhancing the way customers perceive your product brand or increasing awareness of and exposure to your brand. Although Procter & Gamble was one of the first companies to use “brand management” with Lava soap in the 1920s. parts. Positioning: Using advertising and communications to determine how a product or service is perceived by target customers. this concept has become an integral part of every company—from start-ups to consumer products behemoths—as strong brands and marketing programs drive shareholder value. and customer. durable goods (Boeing. pricing. market share. Customer relations: Developing and managing a relationship with customers by ensuring that their needs are met. price. Customer acquisition and retention: Performing activities that increase and maintain the number of customers. or software. and services to create exchanges that satisfy individuals’ and organizations’ objectives. They can include:. company. Brand management: Managing all aspects of marketing for a product. Branding provides a necessary shortcut. Korn/Ferry) Business-to-business: Raw materials. and banking services (American Express. Consumer research: Determining the characteristics. maJoR pLaYERS oVERVIEw MBAs may associate marketing with the ubiquitous four Ps and three Cs: product. This process includes many phases. Share of market: Increasing the number of customers for your products and services. Brand building and branding strategies stand at the core of marketing. and distribution of ideas. the concept of “branding” was born. and rapid economic growth. or event. trends. it plays a lead role. typically consumer-packaged goods. and investment banking (Deloitte. promotion. SC Johnson. or other metric against your competition. Competitive analysis: Benchmarking the price. accounting. Kraft) Financial services: Credit cards. Marketers fulfill many functions to ensure that the right people get the right information. Promotions: Using communications to increase interest in a product. Product launch: Introducing a new product or service to market. Product development: Designing and building the characteristics of your product or service. Marketing-related jobs account for about 30 percent of the jobs in most industrialized nations. Citibank. and needs of a given market. place. In the past few years. Once analysts could begin to quantify the value of brands. Arenas include: Consumer products: Consumer packaged goods such as soap or cereal (Unilever. goods. the phrase “brand equity” was not coined until the mid-’80s. These include: Advertising: Determining a promotional message and a channel to reach target customers. Market segmentation: Determining the target market for your products and services. and as a marketer you can be anything from a salesperson to a strategy-shaper to a number-cruncher. mortgages. legal. industry consolidations. a quick summation of what a company is all about. typically high-tech consumer products. Marketing’s function differs from company to company. GlaxoSmithKline. CSFB. service. brokerage accounts. Merrill Lynch) Professional services: Consulting. competition. They are becoming increasingly important in today’s world of constantly evolving technologies. marketing links a company to its customers by aligning the company’s resources to meet the customer’s (or market’s) needs.” Mnemonic devices and official definitions aside.

But you knew that already. to ensure that their message rises above the noise of the marketplace to reach their target audience. characterizes her work environment as “open and informal.” Another. when budget time rolls around. as consumers are increasingly overwhelmed by the sheer quantity of media available to promote marketing communications. travel is relatively infrequent in this business. GETTING hIRED As a brand manager or marketing associate. A signing bonus of a few thousand dollars more is customary of big firms. gaining new leverage in negotiating with these retail behemoths. “That’s just part of our culture. you’ll earn disapproving glances from management and a fast track to career stagnation. It’s also fueling the continuation of a longstanding trend of consolidation. but generally the business is known to offer reasonable work-life balance. Viacom) Services marketing: Hotels and restaurants (Marriott. Starwood) Sports: Professional sports events (NFL. while brand managers and above enjoy offices with windows and great views. conferences.000. One important exception is the international brand manager. dress up.” Spend time in a potential new office to get a true feel for its atmosphere.INDUSTRY GUIDE Entertainment and media: Films. however. The pioneering credit card that offered frequent-flier miles for dollars spent introduced us all to the concept of co-branding. SaLaRY Most new MBAs entering brand management will start as Assistant Brand Managers with a starting salary around $80. Many companies are adopting innovative approaches. The dress code is typically business casual.” The cyclical requirements of the fiscal calendar will also have an impact on your hours. fun. the “WalMart effect. and informal were all used to describe the atmosphere in this industry. This relationship marketing focuses on building stronger ties with customers. Obviously. as a general rule. for instance—is also important. expect to clock in some long workdays. the culture varies from company to company. Associate brand/marketing managers (one to two years out of business school) can expect Words like collegial. the teamwork involved in this industry encourages frequent interaction among colleagues. oFFICE CULTURE Before you begin your job hunt in the industry.” TRaVEL While some of your B-school classmates may not see the inside of their own homes from one month to the next. Sales meetings. television. One veteran sums it up: “You need to be willing to put in long hours when necessary. Summer Olympics) TRENDS $90. Of course. This position requires frequent overseas travel. if you take those bookends literally. be aware that the marketing business has many facets—from market research to product development to branding—and includes various industries and products. you won’t be working investment banking hours.” a Coca-Cola recruiter says. In the consumer packaged goods sector. One associate marketing manager describes her office as “moderately hierarchical and old-world corporate: Junior people are clustered in cubicles à la Dilbert. “Our employees are the kinds of people who are inspired to give more and work a little longer. may expect men to wear a suit and tie. Companies are increasingly using their relationships with customers through one product to cross-sell other products and services. but you typically won’t be hopping on a plane at a moment’s notice. Outside of brand management the salary range differs according to the type of position and size of the employer. Decide which one most appeals to you and focus your search there.000 to $100. dress to match the situation: When you’re meeting an important client. like cosmetics companies. Product placement in film and television—Mattel toys on The Apprentice. Companies combine their brand assets to market goods and services jointly. Procter & Gamble swallowed up Gillette. Most recently. but don’t expect a stroll down Easy Street. Everyone has an open-door policy.000 a year. There is very little memo-writing and a lot of one-on-one/small-group verbal communication. and Internet (Disney. as many consumers are skipping commercials and recording programs to view later. Socially. although some image-conscious employers. Loyalty marketing is on the rise as companies try to reward their customers for using or buying their goods and services in order to increase the customer’s switching costs. WNBA. Although official business hours may be 9 to 5.” in which giant retailers place heavy demands on suppliers. is having a sizeable impact on the way CPG companies operate. such as permission marketing. and research in the field may help you rack up a few frequent flier miles. hoURS Message saturation has become a serious issue lately. TimeWarner. In the words of an associate marketing manager in consumer pharma- 20 ThE CompaNIES YoU NEED To KNow aboUT .

There are division-wide as well as brand-team activities organized about two. • Demonstrate your understanding of the company. CPG is an industry sector that makes a good target for women and minority MBAs. Everyone seems to have outside interests—many of my colleagues take classes in the evenings or on weekends. • Exhibit a passionate interest in the business. especially among people in the same start group or in start groups one to two years apart. Interviewers are not only assessing the quality of your answer but also looking for evidence of specific leadership skills necessary for success in their environment.” TIpS To aCE YoUR INTERVIEw: Most people we spoke to in the marketing industry were recruited on campus. ThE CRowD They recommend identifying a contact and scheduling an informational interview with him or her. “The company encourages teams to dine and engage in other off-site activities frequently for teambuilding and morale-boosting. be a high performer. IF I CoULD Do IT aGaIN I woULD: MBAs in the marketing biz come from all walks of life— “engineers to advertising execs to environmentalists to salespeople.” Client entertaining. in time for the holiday season. visit Web sites. if an interviewer says. currently at CVS. you don’t have to be an IT expert to work on marketing for a tech company. • “Be passionate. An example would be: ‘Polarama is a firm that markets children’s toys with a North Pole theme.” a Cornell MBA. but I socialize with my co-workers quite often.maRKETING ceuticals. and team activities are often scheduled to maintain excitement and keep attitudes upbeat. Find out how positions differ in large and small companies—there are pros and cons to both.” he or she may in fact be more interested in what you say about your team relationships than in how you actually addressed the issue. “We are very close. They give us a generous budget. ThE CompaNIES YoU NEED To KNow aboUT 21 . What would you recommend?” • Be prepared for situational leadership questions. but you have to be able to learn quickly.” a new line of Beanie Babyesque stuffed animals. on the other hand. college graduates will be people of color.” One CPG company we spoke to requires a “diversity candidate” on every interview slate. etc.” • “Be prepared for cases. but you found a way to complete the task on time. They are considering whether or not to introduce “snow ball. “Tell me about a time in your previous job when your team faced a deadline that you thought you would be unable to meet. Use that connection to forward your resumé to the appropriate party rather than sending a blind resumé to human resources. There is a lot of movement in this industry. and travel for pleasure. is generally infrequent in this business. says. are interested in athletics. There aren’t too many formal. or go to your local grocery store and browse the shelves. They typically provide an open-ended question involving a strategic-marketing situation and ask you to address it. “You’ll find a lot of women in executive roles.” Such company-sanctioned socializing is common. a recruiter from another says. Marketing firms are turning increasingly to the case-study method to test your analytical abilities and assess your marketing skills. You won’t find the same wining and dining that you might in investment banking or consulting. and show a repeated history of these things. and the market in which it competes. “There isn’t really the old boys’ network that you find in other industries. organized happy hours.” • “Not limit myself to my area of expertise. • Understand the categories the company competes in— read trade magazines. You don’t have to be an expert in the marketplace. For example. One associate marketing manager at a large consumer products corporation says. “The community is pretty close-knit. The answers they seek may or may not be related to the question they’ve asked you. • Demonstrate strong quantitative skills. three times a year. Women make up a large chunk of marketing majors at most B-schools.” GETTING IN • Talk to as many contacts in the industry as possible to get smart about what types of jobs are out there. turn information around.” An associate brand manager in the consumer packaged goods area says.” One senior analyst at a large high-tech corporation attests that “just about any background can be leveraged in some way. Those who have changed jobs since B-school networked with peers from their MBA programs. For example. be a leader. • Emphasize your strong leadership and your people skills. • Read trade magazines and industry periodicals to become familiar with trends and issues.” The male-female ratio in this industry is much more balanced than it is in many others (like investment banking). and be decisive. • “Be an intelligent and aware consumer: study store shelves. “It’s in our best interest to pursue a diverse group of prospects—by 2015. watch TV ads. half of all U. One insider explains: “Many MBAs in marketing are former consultants or investment bankers who burned out of that lifestyle and are looking for a more manageable professional life.” It is common for marketing executives to have experience in other industries.S. its mission.

“They really want people to put in their time. possess the ability to influ- Pros • Smart.” As previously mentioned. and still maintain a professional and personable demeanor. TYpICaL DaY “There really is no typical day” is a chorus we heard again and again. • Attending a training workshop from an outside supplier. smaller organizations often have no typical path. • Fulfilling requests of PR agency for information. and strategic thinking are also qualities that are key to success in this industry. strong analytical and writing abilities. In the brand management track you will likely stay an assistant brand manager for three to five years before becoming a fullfledged brand manager. whaT IT TaKES ence others. People skills need to be balanced with efficiency and organization. Marketing execs must work well cross-functionally. it’s on to CEO!” Note that while many large corporations have clearly defined tracks. • Conducting financial analysis—looking at volume and profit numbers in a category or for a specific product. “You have to identify issues quickly and summarize them succinctly—without being curt or blunt. so some days I’m running from meeting to meeting. (We spoke with one MBA in the industry who has been promoted three times in only two and a half years. It is important to be outgoing.INDUSTRY GUIDE moVING Up In some areas of marketing.) If you work at a large CPG company. there is the potential to move up very quickly.” says one marketing executive at a cosmetics company. One associate sums up a prime candidate as “the kind of person who can keep a smallto medium-size crowd at a party entertained. “I lead a variety of projects that have cross-functional teams. and personal skills are keys to success in the marketing biz.” Quantitative skills. One insider says. especially at more junior levels. bUZZwoRDS Customer loyalty Personalization Incentivize Cannibalization CRM (customer relationship management) CPFR—Collaborative Planning. your ascent to the top will depend heavily on which sector you are working in. motivated people • Great training and preparation for the future • Excitement of seeing a product you’ve worked on hit the shelves • Flexibility 22 ThE CompaNIES YoU NEED To KNow aboUT . From there. Another insider notes. • Analyzing market research issues.” The job will likely entail leading teams and motivating people. Below are average career timelines for the marketing divisions of the Consumer Pharmaceuticals and Consumer Products sectors. presentation. • Discussing technical feasibility of a product with R&D. while other days I’m doing individual analyses. Do your research while you’re interviewing to determine what the ladder is like at a particular company. Consumer Pharmaceuticals (Post-MBA) • Associate marketing manager (two years) • Marketing manager (three to four years) • Franchise director (three to four years) • Vice president Consumer Products (Post-MBA) • Associate marketing manager (two-and-a-half to three years) • Brand manager (two to three years) • Marketing manager (one to two years) • Marketing director • Vice president of marketing (can take 10 to 15 years to get to this level) “If you’re considered top of the heap. “There is a lot of upward mobility at more junior levels. After five years. • Discussing trade issues with sales department. and work effectively on a team. I want to be a senior brand manager who is a strong candidate for the next category business director opening. the next step is general manager of a division. Forecasting and Replenishment RFID—Radio Frequency Identification P&L Category management Category killer Brand switchers Lovemark Premiums/tchotchkes Private labeling pRoS & CoNS Communication. but it’s more difficult to move from senior brand manager to category business director since there are a limited number of positions and little turnover. adapt quickly. expect to advance more slowly. • Planning or attending focus groups.” Activities could include: • Meeting with your brand team or talking one-on-one with a brand manager.

GREaT pERKS • Team dinners • Recruiting trips • Work-from-home flexibility • Access to an incredible amount of information • Product discounts • Free magazines ThE CompaNIES YoU NEED To KNow aboUT 23 .” Reality: There are a lot of details in this job that can really bog you down if you’re not careful.” Reality: As in any business. Ph.” Reality: Strong quantitative skills are becoming increasingly important and highly valued in this industry. Marketing is much more than advertising. Myth: “This is a glamorous industry.D.” Reality: This is a demanding job and requires a lot of analytical thinking and “alone time” in the cubicle thinking about business issues. Myth: “Marketing is ‘fluff ’ and not quantitative. you won’t get a blank stare (usually) . Myth: “Brand people are cheerleader-types. Myth: “Marketing is nothing but advertising and designing coupon artwork.maRKETING • The cocktail party recognition factor: When you mention your product.s in statistics are common. there are perks as well as more tedious tasks that must be completed.” Reality: That’s just one tiny piece. • Develop and hone management skills • Creativity • Diversity of tasks • Ability to influence business. even as a newcomer • Mature industry Cons • Stressful crunch periods • There can be a lot of dry number-crunching in the first years • Office politics • Sometimes slow pace of upward mobility—you have to pay your dues • Many CPG firms located in non-metropolitan areas • Competitive and sometime bureaucratic environment mISCoNCEpTIoNS Myth: “It’s all about strategy and developing marketing plans. particularly in market research divisions.

and other low cost internet phone services are keeping the heat on the larger VoIP players in this red-hot market. then click and drag maps. heard. South Korea. Toshiba. and Microsoft delivering console games. Austin. is making room for a lot of user-generated content. in Europe (particularly Scandinavia). When talking to wireless firms. New York. many companies reinvented themselves yet again. Oracle is a key player in the database arena and Sony. Meanwhile. and the like—is high. Sprint Nextel. Google Base (Offers users a way to post content and have it show up on Google) and Page Creator (a simple Web-site design tool) are some of the latest offerings for web users looking to be interacted with. or Motorola. Its latest move. companies are continually vying to be the first to uncover the “Next Big Thing. Sun Microsystems. Blizzard’s World of Warcraft game has also gained immense popularity. Corning. so read the latest trade publications. but biggies (especially older companies) are scattered all over the country—Motorola’s headquarters are in the Chicago suburb of Schaumburg. Some companies are stricter than others in that regard: Apple prefers to hire Mac-heads. SaLaRY With the promise of stock-option riches all but a distant memory. Sony’s PlayStation Portable made a splash when it came out. and keep up with what’s happening. In an industry based on innovation. fingerprints. Changes in corporate structure are common. become part of the cult. then a desktop search and chat. Security: Since the September 11 terrorist attacks and the subsequent bombings in Madrid and London. IBM. Seattle. Blogger. and others build PC and server hardware. tech industry job applicants are focusing on straight 24 ThE CompaNIES YoU NEED To KNow aboUT . is still home to the eponymous company. Boston’s Route 128 corridor. and spin-ins. and the like battle it out in the wireless/wireline space. Interest in biometric devices—using retinal scans. spinoffs. Weblogs to keep an eye on for the basics include Slashdot. major players generally concentrate on a sub-sector rather than the full spectrum. GETTING hIRED In an industry of this scale. Microsoft has a virtual monopoly on desktop operating systems. maJoR pLaYERS User Generated Content: Is there anything Google can’t do? First it was the Internet. and Gizmodo. And don’t rely on monthly magazines. Uniphase and Cisco.” The tech industry is rife with acquisitions. many Old Economy firms frantically tried to remake themselves as future-savvy. Cingular. Internet infrastructure is provided by the likes of Corning. Engadget. Lucent. Anything with a microprocessor probably uses chips from Intel. for instance. which can be behind the times in this fast-paced business. egalitarian institutions. of course. much of the world’s wireless action happens outside the United States. with Nintendo. T-Mobile. Apple has recently begun installing Intel processors in its Macs. along with many other tech outfits. But when dot-com went dot-bust. even at the largest firms. Voice over IP: Firms like Vonage are promising local and long distance phone service over the Internet at lower prices than those of traditional companies. Sony. IBM. so know the technology—and if possible. Electronic Arts and Activision are big on the PC side. and Japan. but may actually be around long enough to make a meaningful contribution to your 401(k)—a tech company could be just what the doctor ordered. and Electronic Arts focuses on gamers. seen. Now Google.INDUSTRY GUIDE [hIGh TECh/TELECom] esque lock on desktop processors where as Motorola has a strong presence in embedded systems. Several of our insiders said that interview questions focused not only on the company’s technology but also on industry competitors. AMD. and Corning. Silicon Valley. In entertainment software. Verizon. Companies like Skype offer free calling from computer to computer. Illinois. though Apple fanatics swear by the latest version of OS X. know the global context for their products. JDS. first cast off its image as a household name in kitchenware and reinvented itself as a hot engineer-driven fiber-optics producer—but now is winning raves for its flatpanel glass. AT&T. TRENDS oVERVIEw If you want to work with the hottest. and many customers are biting--so many traditional telecoms are offering similar deals. Intel has a Microsoft- This is an industry full of personality and product cults. which is such a monolith in this area that its name is practically synonymous with routers. newest gadgets—and if you thrive in a fast-paced. A few years ago. is the purchase of YouTube. and New York are home to many prominent technology firms. firms are increasingly looking to technology for security solutions. competitive environment that offers plenty of opportunity for swift advancement. Scour the Web for the latest headlines.

read up on 3G. though. Half of our insiders were recruited on campus. Though the sector boasts an ethnically diverse population with a gay-positive attitude.000 and up. If you don’t feel like going back to school to get an engineering degree. such as HP. business. women tend to be heavily represented only in lower levels (especially in marketing). hoURS GETTING IN This is an intense industry for intense people. and Xerox’s Anne Mulcahy are standouts. A business education rounds out technology-related skills but is not the core of the skill set. Many high -tech managers came from non-MBA career tracks. such as engineering.” one Microsoft employee says.” one product manager says. and marketing. there can be a definite sense of camaraderie and even fun. moVING Up Cubicles. “It is always crunch time. where a tech savvy company cannot survive without making smart business decisions. If you’re looking at software companies. Dress is usually casual or “office casual. e-mail. The workers we surveyed at large companies hope to take their experience to smaller companies.” At many firms. Carly Fiorina. Combining that drive with the charm necessary to turn it into teamwork is a magic bullet that will take you far. cubicles. Tech companies value MBAs. though not at the warp speed of start-ups and Internet-only companies. expect to be making $100. The sweet spot seems to be a combination of experience in engineering. buy or borrow their products and become familiar with their marketing sectors and strategies. and teleconferences.” one product manager says. What some consider brutal. marketing. read up on market strategies and positions. whaT IT TaKES Drive. and business development managers all reported traveling about one week a month. especially in the current competitive environment. others consider honest and flexible. work-related travel can be relatively common at a tech company. In an industry moving at the speed of light. depending on the size of the company. and so forth. cubicles.000—and even more at big-name firms. and perseverance. software companies are the most extreme example. The more diverse your educational background—the more technical. ThE CRowD High-tech workers reported their colleagues to be bright but sometimes competitive to a fault. marketing managers. I have been promoted three times.” one manager says. ask for forgiveness later” people. product development. the other half got their jobs through friends or mentors. for instance—have more flexible career paths than others. TRaVEL Depending on your job. it products of services. UMTS. they- ThE CompaNIES YoU NEED To KNow aboUT 25 . marketing and biz-dev staff who have direct contact with corporate clients still sport suits from time to time. or all three. you’ll find that salaries start at $80. recruit at business schools. even from lower-level employees. Instead. Generally. The typical high-tech manager’s day is a string of meetings. business development. “No one wants to train anyone. Remain efficient. Promotion can be pretty fast. TYpICaL DaY “Crazy. don’t worry—even the layman’s knowledge of an enthusiastic geek will give you a leg up. and talk to people at competing companies. peruse industry publications. Hewlett-Packard’s former chief. Among the cubicles. You’ll also have to be very flexible to adapt to a continually changing work environment.” one telecom executive says. and Motorola. with free food and other perks. intensity. The dynamic among colleagues at some firms seems to be straight out of a David Mamet screenplay—cutthroat and backstabbing. “In the past two years. with the time commitment sometimes increasing as you move up. High-tech companies are looking for MBAs with beyondMBA experience. “The rule of thumb is to assume that everyone is dumber than you are. If your experience is primarily technical.hIGh TECh/TELECom salary. After a few years. You’ll probably work a reliable 60 to 70 hours a week. Few tech CEOs are female. whether it’s coming up with a new product or expanding a new line. like company sponsored beerfests or happy hours. MBAs don’t end up as “microserfs. Creating new business seems to be key. where they could attain more influential positions. one where you’ll probably be managing people who don’t really report to you and taking on several tasks at once. especially—the more routes are open to you. One customer relationship manager said she’s surrounded by “Act now. Big tech companies. Companies closer to the Internet world—Microsoft.” programming computers or designing semiconductors. So if you’re looking at wireless companies. oFFICE CULTURE MBAs in this industry work in management. and then convince them of that over time. and where it’s located. Product managers. Educational backgrounds vary. Microsoft. managers always have to be open to new ideas.

is run by a college dropout who earned his degree in the marketplace rather than the classroom. • Product management: market research and analysis. engineers. motivated colleagues • High degree of autonomy • Continual new challenges • Openness to new ideas • Working on the “next big thing” Cons • A sometimes brutally competitive culture • High pace of change GREaT pERKS • Good benefits: 401(k)s. game rooms. free beer.11g VoIP Open source EVDO Podcast Moblog. getting in touch with development teams. liveblog RSS mISCoNCEpTIoNS Don’t think for a second that this sector is homogeneous. employee stock purchase plans. Big-company bureaucracy is thoroughly entrenched at some large firms. after all. A Microsoft employee pointed out that “technology businesses are [not] run by business people”—hers. strong medical plans • At some companies. • Writing proposals for new business. pRoS & CoNS Pros • Bright. don’t be a suit. or that all companies are trying to work like small companies. and other frivolities • Casual atmosphere 26 ThE CompaNIES YoU NEED To KNow aboUT . Be aware of the tech-company dynamic that leaves influential engineering types suspicious of the “suits. bUZZwoRDS 802. but not in others. salespeople. Michael Dell started his business at 19. writing announcements. videoblog. executives.” Better yet. Elements of a day may include: • Lots of e-mail. • Meetings with clients. eating up to a third of your day.INDUSTRY GUIDE write proposal after proposal to expand new business or direct their companies’ future paths. or business development teams.

The Vioxx verdict was just the beginning— more awards and settlements are sure to follow.000 Americans die each year as a result of medical errors and low-quality care. Despite continued consolidation trends. reducing mistakes. A 1999 report drew harsh reactions when it estimated that 44.000 lives during the 18 months from which data was evaluated.000 to 98. Some docs chafe at “cookbook medicine. As U. providers are skeptical of new technologies. since larger companies often balk at the immense amounts of R&D dollars and time commitment required. Costs are on the rise again. Large pharmaceutical firms will often forgo developing certain drugs if the market is not perceived as large enough. hundreds of biotechnology and device companies are vying to introduce the next billion-dollar drug or must-have device (or. Because of their tight cost environment. thanks to consumer and political pressure. demographics change. Those from a middle-tier B-school with a health care concentra- ThE CompaNIES YoU NEED To KNow aboUT 27 . the president of the Institute for Healthcare Improvement launched a program to improve care in hospitals. but now the emphasis is on controlling expenses and boosting quality. The effect of these new products on overall costs is mixed. consumers are increasingly opting for more flexible insurance plans. Johnson & Johnson last year bought Pfizer’s consumer health care unit for $16. consumers buying their own medical policies is growing. Litigation. the major trend has been the introduction of managed-care organizations (MCOs) and other mechanisms to rein in skyrocketing costs.100 hospitals participated in the “100. but in others they lower them by reducing the need for procedures or ongoing care. and regulators. Germany’s Bayer has recently outbid rival Merck to the tune of $19. physicians are being encouraged to follow standardized treatment protocols called guidelines and pathways. physicians and other health care professionals. New technology also requires additional training that may be difficult to schedule with heavy patient loads. Meanwhile. many smaller biotech companies are acquiring the rights to develop these products from the larger firms. From December 2004 until June 2006. The results. in some cases. which are based on clinical studies and elite physician groups’ opinion. Vaccine development is especially attractive to these small start-ups. TRENDS Consolidation in major pharmaceutical companies. With employer coverage on the decline. The boomers’ twilight could be golden years for those in health care businesses. As a result. Aging population.000 Lives Campaign.6 billion cash.hEaLTh CaRE/bIoTECh [hEaLTh CaRE/bIoTECh] Evidence-based medicine. While the drug development industry has a high failure rate—most prospects never make it out of clinical trials—dozens of drugs each year survive the grueling process of clinical testing and FDA approval. for instance. the pharma industry remains segmented. in its move to acquire Schering. Cultural sensitivity. Over the past two decades. and German drug giant Merck completed the $13. Salary depends on many factors: the type of company or institution you join. health care comprises a complex web of stakeholders: insurers. Introducing these products can be a challenge worthy of the most aggressive marketer. show that the program may have saved more than 120.S. Rising costs. 3. Outsourcing development. pharmaceutical firms. and other degrees or experience you bring to the table. combinations of the two). often by bringing new technologies and business strategies to bear on traditional health care organizations. the number of U. “payers” (public or private entities that pay for health care costs). allowing greater patient choice and physician autonomy. recently released. and payers—always the 500-pound gorilla in the room—may resist shelling out more money. or it could force another round of painful. health care organizations are paying more attention to diversity issues and cultural competence in caregivers.6 billion. Increasingly. MCOs and other payers have loosened the leash. More hospitals are expected to join the program as the push toward higher quality care continues. The uninsured. As a result. Stung by experiences with managed care. radical changes. the specific job. Recently. and many managed-care organizations are lowering barriers to health care in the face of market and political pressure—allowing patients easier access to outofnetwork providers. hospitals. In some cases.9 billion takeover of its Swiss competitor Senono.” but others embrace it for providing more consistent. expensive new medicines and technologies raise costs.S. Improving quality. high-quality care.” a series of six quality assurance measures aimed at reducing the rate of lethal errors. and device makers. SaLaRY oVERVIEw Far from being a single industry with clearly defined producers and buyers. and consumers.

or other science/health care degree.H.000. Your best bet if you have an MBA without such a concentration is to seek a job in the health care practice of a consulting firm or investment bank. If you are one of the slackers out there with only one measly graduate degree.000 to $250. If you work in finance at a hospital or in marketing at a pharmaceutical firm. Their decisions determine whether a new drug is a billion-dollar-a-year blockbuster or one of several $100-million-a-year also-rans.P. more travel may be required.000 and up. Naturally.D.D. oFFICE CULTURE Health care culture tends to be conservative. Health care workplaces. but the risk is greater. but business casual is the rule on Fridays at the home office. moving to $80. Start-ups and earlier-stage biotechnology and device firms pay top executives $150. During a “road show” to raise money. Health care firms actively recruit at schools with such concentrations.. “An MBA does not initially give a great salary boost. TRaVEL Everyone working in health care has to learn how doctors think. “but there is greater growth potential if you’re in a forprofit arm [of the health care sector]. For those in consulting. Venture capitalists are also looking for MBAs to help them perform due diligence on potential health care-related investments. or to make presentations at investment If you have an MBA along with an M. plus stock options and bonuses. although many offices have adopted casual-Friday policies.000 and up at most organizations. Unless you are interested in consulting. Because health care is such a large industry—oneseventh of the U. although many of the traditional gender and race divisions remain: You won’t meet too many male chief nurses or managers of homecare operations yet. Physicians are the gatekeepers of health care and interface with virtually every other segment of the industry. often with bonuses. you’ll have all the excitement—and long hours—expected at a start-up. A dual degree can give you an automatic salary boost.000 to start. Business attire is the rule. campus recruiting sessions will probably be less useful than handing your CV or resume to top recruiters and targeting journals that advertise the kinds of positions you’re interested in. Biotechnology executives may be on the road one to three times a month to meet with corporate partners or potential investors. Their willingness to comply determines whether a cost-savings guideline will be fully implemented or largely ignored.000 to $110. The bottom line is that you must achieve physician buy-in to effect change in health care. earlier-stage companies than in larger companies.000. These positions typically pay $80. attendance at medical conferences is essential. or to pursue a marketing or finance position within a large pharmaceutical 28 ThE CompaNIES YoU NEED To KNow aboUT .000 to upwards of $200. the advantage goes to B-school grads with a health care background or those who have pursued a health care concentration within their MBA program. M. a 55to 75-hour week is the norm (some firms are more committed to worklife balance than others).” one MBA physician says. A Ph. the dress code is more casual. If a job calls for keeping up with the latest advances in diagnosis and therapy.000 to $95. whether at the corporate or delivery level. A consultant may spend 15 or more days on the road each month. While the starting salary for an M. economy—it is diverse. ThE CRowD Working hours depend on your specific job and industry segment.. while a hospital CFO travels only rarely. particularly at the corporate level.000 to $150.” hoURS conferences.S.” one biotech executive says. GETTING IN The amount of travel varies tremendously from job to job. at a development-stage biotechnology or device firm. bring together smart people from many backgrounds. salary. At a start-up./MBA generally garners $100. the job search is often just a matter of picking the opportunity you want..000 to $60./MBA is higher than for those with just an MBA. and overall compensation is much better in smaller. These jobs pay $125. it’s about the same as an average family practitioner’s salary.000 (usually on the lower end of the range).000 or more within a few years. R. Those who work with venture capitalists or in investment banks also work 50-plus hours a week. an M. or in an investment bank.D.N. Pharmaceutical and device companies offer starting salaries of $75.000. higher salaries go to those who graduate from top schools or have additional relevant degrees.D. You also have the option of working for the health care practice of a consulting firm. about $125. Consultants usually dress formally at the client site or for client meetings.. Those in health care venture capital or business development might spend up to 30 percent of their time traveling./ MBA. you might have standard business hours.D.INDUSTRY GUIDE tion who join provider or payer firms can expect around $50. Ph. “The opportunity to make an impact and increase your responsibility.

If you are interested in working at a small biotech firm. and have opportunities to interface directly with the CEO. If the job involves practice management.hEaLTh CaRE/bIoTECh or device company. whaT IT TaKES An interest in how business and health care intersect. or other business professionals? • How would you characterize the relationship between the business side of your organization and the health care professionals whom it employs or with whom it interacts? moVING Up Health care might have a somewhat staid reputation among business school students. Chances are you won’t be one of dozens of new recruits. a few calls to schedule meetings with other clients. medical director.’s but also hire MBAs. nurses. and/or vice presidents on a regular basis.’s and M. You will need to master the art of communicating with physicians and other health care professionals or scientists. chief nurse. a knack for understanding statistics and scientific research is important./MBA without previous business experience joined a device company as a vice president. since so many companies seek funding). as well as writing reports and meeting with other executives to plan strategy. as these companies lack the resources for extensive training and need people who can hit the ground running. check out industry or medical association sites. science. It might include meetings with hospital officials (the CEO. you may be called on to do more day-to-day troubleshooting—such as coming up with a plan when three nurses call in sick. the day starts with responding to e-mails and phone messages (and there are usually quite a few. You might even go to a medical school library and browse through a year’s worth of a relevant journals to get a feel for what insiders are talking about. particularly those with experience evaluating business plans and performing due diligence. the employer will respond well to an entrepreneurial bent.D. • An M. CFO. development presentations and spreadsheets. Development-stage biotechnology and device firms usually seek candidates with a life-science background or relevant experience.m.D. insurers. “Management. While the organization will provide scientific and medical support. TYpICaL DaY A typical day varies according to the nature of the job. or to develop strategies for selling that technology to physicians. As in any other corporate environment. and make sure it’s good. delve into company fundamentals to make sure you know what you’re getting into. If you’re interviewing at a hospital. Be sure to do your homework before the interview. and provide ample opportunity to move up and command a respectable salary. you should be prepared to talk about such hot-button issues as the personnel shortage and the drive to reduce medical mistakes. you’ll spend time on the phone and answering e-mail. These companies have the infrastructure in place to help you build health care expertise as you advance in your career. In a practice management setting. If you move into business development or marketing. your ability to understand and communicate the fundamentals of your business is essential to success. but organizations are often relatively flat. an MBA can enter as a branch director and be only four steps from a senior vice presidency.). Be wary of things that sound too good or perfect!” Venture capital firms also look for experience. For a health care venture capitalist. Examples: • At a national home health care firm. and perhaps with investors if you land at a start-up. ThE CompaNIES YoU NEED To KNow aboUT 2 . and how it’s being run. Questions you might ask during the interview: • What other positions are there for a person with an MBA within this organization? • What are the opportunities for advancement? • What will I need to learn to become fully effective in this job? • To whom am I directly and indirectly accountable? • With whom will I be working most closely: physicians. CFO. credible science. and a late-evening dinner with the consulting team. They often tap Ph. At a pharmaceutical company. You may be called upon to evaluate the prospects of a new technology. Schedule as many informational interviews as you can with people in the field.” a biotech executive says. “It’s absolutely critical to understand who is running the company. particularly the relationships between providers and payers. as well as evidence that you will be able to deal with payers and HR issues. you may acquire substantial responsibility early on. etc. In addition to the organization’s own Web site. and execution are key. researchers. research into solutions that are available to address the organization’s problems. A health care consultant’s day often begins at 7 or 7:30 a. and runs 12 hours with a deskside lunch. Understand the business model and the competitive landscape—does it make sense? You need to really try to understand the science behind the company. you’ll want to be comfortable chatting about the impact of biotechnology and direct-toconsumer advertising. is key. for example.D. employ few MBAs.

that helps). GREaT pERKS Reimbursement Evidence-based medicine Guidelines Pathways Length of stay Quality care Medical mistakes Minimally invasive Hospitalist Legacy system Utilization management Disease management Payers Clinical trials Physician-patient interface Patient throughput pRoS & CoNS A big perk for some is simply being on the cutting edge of an exploding field of human knowledge. you’ll learn about managing your own health care and that of your family. or writing investment memos are par for the course. including how to interact with doctors and insurers effectively. But 30 ThE CompaNIES YoU NEED To KNow aboUT . research (on the Web or by calling investment bankers and other VCs). Reality: Compared to some investment banks and consulting firms. bUZZwoRDS change is accelerating with the advent of new drugs and devices. and working on a presentation for an upcoming investors’ conference. Pros • Stable (with the exception of start-ups) • High growth potential. Myth: Health care enterprises are sleepy and staid.INDUSTRY GUIDE Conference calls and meetings. population ages. and substantial growth is all but ensured in the coming decades as the U. obviously. analyzing the latest scientific reports and requests for new equipment. as boomers age and new technologies enter the market • Relatively recession-proof • Ongoing discoveries and new studies keep the field interesting Cons • Other stakeholders may have a large role in decision making • Heavily regulated • Difficult to effect change quickly mISCoNCEpTIoNS Myth: A health care degree is a must. MBAs are often just a few steps away from a senior-level position. Reality: You don’t have to hold a health care degree to advance into the top tier of management at most healthcare organizations (though. health care enterprises can seem slow. A biotech executive might spend the day fielding calls from existing and potential investors.S. More practically.

Most VCs report traveling one to two days each week. so the age range is higher. but is basically the profit split of proceeds to the general partner. oFFICE CULTURE After a rather stagnant period. highly professional. bonus. usually from top schools. Most VCs employ MBAs. VC firms began to invest in burgeoning Internet companies. play hard” is definitely not a mantra you hear at VC firms. Their end goal is to help build a strong company and drive it toward a liquidity event like a merger or IPO so they can make a considerable profit. Though the first modern VC firm was founded just after World War II.VENTURE CapITaL/pRIVaTE EQUITY [VENTURE CapITaL/ pRIVaTE EQUITY] tions are few and far between. Equity financing soon surpassed debt financing as the entrepreneurial model of choice. One insider describes the mood as “mature. One 10-year industry veteran estimates his annual income to be upwards of $1 million. your compensation is broken up into salary. Salaries generally range from $100. The stakes are high and you must be willing to take risks. The social life in VC firms isn’t like that of an investment bank or a typical Internet start-up. and seed money is once again available. and near-term profit potential. network. According to the National Venture Capital Association. Your average venture capitalist is not only a very competent businessperson. foreign investors. so the selection process is highly competitive. hoURS Sixty to 70 hours a week is the norm. endowment funds. existing sales. In fact. and the venture capitalists themselves. or health care. Most firms hire only based on the referral of a trusted source—so network.000 and bonuses are “significant”—usually greater than the base salary. Though the hours aren’t as intense as those in investment banking or some consulting positions. ThE CRowD This is not an easy industry to break into. SaLaRY oVERVIEw The National Venture Capital Association defines venture capital firms as “private partnerships or closely held corporations funded by private and public pension funds. Although VCs are always zealous about performing due diligence on potential investments. It isn’t an industry that most people break into right after college like consulting or investment banking. and “work hard. the degree is almost always a prerequisite to get your foot in the door. and carried interest. While VCs are much more cautious about investing in today’s post-dotcom environment. If you are the type to eschew cocktail chat and rounds of golf. Most people in the industry are MBAs.” Dress is generally business casual. the industry didn’t really take off until the 1980s. corporations. wealthy individuals. In the ’90s. ThE CompaNIES YoU NEED To KNow aboUT 31 . intense. in 2006 VCs invested $26 billion in more than 3.000 companies. but also an incredible schmoozer. The venture capital biz is all about schmoozing. They often get equity stakes of 20 to 40 percent. so the atmosphere is quite intimate. while those in life sciences and medical device companies have risen. Investments in e-commerce start-ups have fallen drastically. A few of the larger firms will make appearances at specific B-school campuses. and many people have families. A slew of successful IPOs fueled the VC fire. Many of those MBAs also have degrees or professional backgrounds in technical fields like software. these firms invest their own capital in companies in exchange for a generous share of stock and future profits. and its hiring process is no different. Carried interest is determined and calculated in myriad ways. You have to trust yourself and your business savvy. network.” In a nutshell. TRaVEL How much you travel depends on where your portfolio companies are. “gut instinct” is also a factor in every decision. people work diligently and lunches are often spent in front of a computer. things are certainly looking up. but posi- This is not a business for the faint of heart. TRENDS In the VC/private-equity world. you should think twice about your future in this business. with most hovering at five to 15.000 to $200. They are less impressed by high-concept companies and more attracted to strong management teams. The criteria VCs look for in potential investments are changing. and discreet. telecommunications. GETTING hIRED VC firms range in size from two to 40 people. venture funding of earlystage companies is also back. Most people have worked in another industry and gone to B-school. The combination of business/finance experience and technical prowess is a winning one in this industry.

according to those who have been through it. Our contacts estimate that in most cases. There is no strictly prescribed pathas Registration rights Piggyback rights Tagalong rights Roll-up Angels EBITDA Incubators IPO Seed money 32 ThE CompaNIES YoU NEED To KNow aboUT . is to have someone who’s pulling for you.” Strategic consulting experience is also helpful. These intimate operations depend on good chemistry between employees. If they do. solid judgment. a constant flood of e-mail and phone calls. Others described their days as “hectic. it takes anywhere from five to 10 years post-MBA to reach this level. like strong business intuition. A senior associate at one firm says. Most VCs can make VP within four years. The co-founding partner of San Franciscobased firm Hummer Winblad Venture Partners is a woman. Many firms still have an “old boys’ club” atmosphere. and one was a pharmaceutical representative. they are guaranteed to have hundreds of students vying for one or two positions. Get in touch with undergraduate or B-school alumni in the business. “There are five partners in my firm: Three had careers as partners in consulting firms. one has a Ph. As one of our contacts notes. or entrepreneurship clubs while you’re in B-school. thoughtful. If you prove yourself to be someone who is intelligent. Some insiders claim that a set of golf clubs is a must. Even with a warm lead.” Another agrees: “Don’t expect a cover letter and resumé to get you a job.” Most freshly minted MBAs put in a couple of years at top consulting firms or investment banks before attempting a foray into a venture capital firm. however. Firms look for people who “enjoy thinking outside the box” and “don’t need to be told exactly what to do. Flexibility and an entrepreneurial spirit are also important.” Banking is a helpful background. Usually. since they’ll be depending on you to make multimillion-dollar decisions.” says one veteran. to say the least. It’s not impossible. meet as many people as you can. VC firms will rarely go to schools and interview.INDUSTRY GUIDE You rarely see people transition straight from B-school into a VC firm. though. You must be quick to absorb facts on every topic in every industry and have an analytical mind-set. so you should expect to meet every professional at a firm. The chance of getting a job by sending in a resume and cover letter is very slim. supply and demand are simply not on the side of the job seeker. moVING Up Ambitious. possesses a keen business sense and excellent judgment. but it’s tough to pull off. Most insiders describe the system as meritocratic. they rely on the referrals of trusted friends and colleagues. and maturity. GETTING IN there is at a large bank or consulting firm. TYpICaL DaY “Chaotic. One founder laid out his schedule for us: • Reviewing business plans • Interacting with clients • Preparing materials • Facilitating meetings • Screening investment portfolios • Working with portfolio companies • Closing deals bUZZwoRDS Your upward mobility in this business is determined by your firm’s partners. Network as hard as you can. social skills. and “clicks” with colleagues and clients alike. The key. Once you get in. but this is a rarity. One insider stresses that you must have “experience in financial analysis. Don’t expect trick questions or cases to be thrown at you in an interview at a VC firm. There are other necessary qualities that aren’t as tangible but are equally important. and diligent are all words that came up when we asked insiders to describe the qualities that spell success in this business. and women tend to be scarce.” You should also consider joining the high-tech. VCs generally have previous work experience in other industries. What’s your best shot? One industry insider says “It’s all about networking.” The VC world is not the most diverse. in health sciences. and make an impression. there’s no real training. “This isn’t the kind of job that has organized recruiting. you can usually expect the ultimate reward: partnership. investment banking. self-starting. whaT IT TaKES In the VC industry.D. They are useful contacts and will one day provide great deal flow. Often. Send your resumé to headhunters. these are the kind of people you will want to cultivate relationships with. If you are serious about the VC industry. and many informal tête-à-têtes with colleagues.” filled with lots of meetings. They want to get a feel for who you are and what you’re about. everyone has veto power. it’s hard.

Partners take in between $1 million and $2. Reality: You can’t learn this trade. Myth: The pay packages for the successful in this business are substantial. you just have to do it.D) pRoS & CoNS Pros • Flexibility • Smart colleagues • Exciting clients • Intimate environment • Autonomy • Learning curve never flattens • Constant challenge • Ability to make decisions and influence events • Close to all aspects of running a corporation without actually running it • Diversity of tasks • “There may be no better way to learn about how business works at a high level than a role in private equity. You can’t walk out of an investment bank and into a private equity shop and know what you’re doing. I was in consulting before I joined this industry and had no idea how little I knew about business. GREaT pERKS • Flexibility (have cell phone/BlackBerry and can work from anywhere) • Reasonable hours • Great compensation package ThE CompaNIES YoU NEED To KNow aboUT 33 . This industry has its own unique skill set.5 million a year at the top firms.C. Reality: Make that incredibly substantial. Associates also make out quite well.VENTURE CapITaL/pRIVaTE EQUITY Liquidity event Vesting Lead investor Series A (B.” • Working with a variety of industries and taking on a variety of roles Cons • All-consuming • Frustrating at times • Risky business mISCoNCEpTIoNS Myth: The same skills that will make you a successful consultant or investment banker will make you a successful venture capitalist.

leasing. asset management. Hines.000 in investment banking and will always live off fees. hospitality firms. how it is managed. such as Trammell Crow and CB Richard Ellis. brokerages (sales. Cushman & Wakefield. The multifaceted industry offers opportunities in brokerage. and layoffs in the lending sector made headlines . investment and asset management. depending on the size of the company. local. and brokerage positions. and appraisal/valuation. falling into more than one: Corporate finance. and Del Webb (Pulte Homes). As a result. make up one level.000 or $90. and tenant representation). And yes. maJoR pLaYERS oVERVIEw Real estate is a high-risk industry – and historically. Investment finance. SaLaRY New grads can make anywhere from $50. plus bonuses. and securitization. Property. and real estate bigwigs like Trammell Crow. many MBAs with entrepreneurial mindsets are turning to this field. they are sponsored by a senior member of the firm. real estate investment trusts (REITs). The emphasis here is on the property itself. The usual entry-level position is analyst or associate. Goldman Sachs. One recent graduate attributes this range to the relative differences in opportunities: “Real estate is an entrepreneurial field. and where it goes. CB Richard Ellis. all eyes were on the real estate industry. a bro- 34 ThE CompaNIES YoU NEED To KNow aboUT . home prices in most markets slumped. Lehman Brothers. Opportunity funds are especially popular. At press time.000 against future production. TRENDS There has been a gradual cultural shift from old boys’ club homogeneity to greater diversity. These jobs involve analysis. Over the last decade. attracted by the potential for equity accumulation. ownership of property is becoming increasingly institutional (as opposed to individual). and Mack-Cali Realty Corporation. not service providers. such as Credit Suisse. “It’s a very sensitive subject. initially making no income or drawing about $40. specialized firms comprise the other level. waiting to see how the dust would settle on this major economic indicator. and more. loan origination. construction firms. Career opportunities for MBAs in real estate vary widely but generally fall into one of three basic categories with some jobs. Merrill Lynch. such as consulting or development. property management companies. Although the likelihood of becoming a mogul of Trump-like proportions is small. People may want to take a low salary to work with the right entrepreneur. banks. Deutsche Bank.000 to $100.000 to $150.000. capital markets. Weingarten Realty Investors. investment banking. title companies. it can also be high-reward. many midsize companies have been rolled up into these vertically integrated firms.INDUSTRY GUIDE [REaL ESTaTE] manage a project from inception through completion. leasing. a few MBAs do go into residential brokerage: One of our sources gave up a lucrative career in finance to handle residential property in New York City. but have less room for growth because there are no entrepreneurial possibilities.” At the same time. which offer a range of services including property sales. consolidations. Small. foreclosures abounded. There are unspoken initiatives to increase hiring of women and minorities. The sub-prime lending trends that many credited as giving an decadelong boost to the industry – and the U. corporate services. The real estate business is constantly evolving – and in 2007 took a dramatic shift for the worst. loan servicing. investment. mergers. Consultants are generally paid more coming out of an MBA program. Commercial brokers begin a little differently in many firms. Owners make the money. never hitting any home runs. and third-party service providers (environmental firms. Lincoln Property Company. and UBS. development. But within three years. Huge multiservice firms.. architectural firms. Archstone-Smith. acquisitions. Corp fin focuses on the money involved in real estate transactions: where it comes from. Industry segments include asset management firms. One longtime insider admits. consulting. corporate real estate. Often.000. Developers fall into both this category and the investment finance category—they The list includes all the usual suspects: major financial services houses. and management. Others may want to make $150. Big names on the REIT side include Equity Office Properties Trust. and alliances have bifurcated the list of players. economy as a whole – came crumbling down.” Senior associates and analysts with MBAs may make closer to $80.000. A graduate of UCLA’s Anderson School working in development estimates that in his field a new MBA can expect to earn from $75. and so forth). These jobs are typically property management. leasing agency.S. mortgage banking. mortgage. engineering firms. Wells Fargo & Co. development companies.

“People joke around quite a bit. warns one insider. Demand continues to grow for real estate professionals familiar with a range of industry issues. noting that the image is pretty much on target. though. Commercial and investment bankers travel the least. According to one broker in a leading Dallas firm. Developers keep fairly regular hours. it’s still an old boys’ network. “Most people are married.” Consultants normally work 50 to 70 hours a week. Get involved in the aspect of the field you are interested in while still in school by joining appropriate clubs and organizations: You can network and learn how to sell yourself. Don’t seem overconfident. Once again. Many of our interviewees described a more flexible. “My job is particularly unusual in its relatively 9-to-6ish lifestyle—which is one of the biggest reasons I joined.” one investment banking associate says. A recent graduate working in development reports that most of his colleagues have MBAs from top business schools: “lots of Stanford and UCLA MBAs. valuation. isn’t so much on the amount of time you work as on the quality of the job you do. “The energy level is kinetic. and a lot of Ivy League grads. while commercial bankers tend to work more traditional banking hours—typically about 50 hours per week. and personality is the main key to getting a foot in the door. and during critical periods. becuase real estate can be a small industry.” a broker says. less hierarchical structure than traditional banking and consulting environments. “The old boys’ network comment is especially true of the transactional and investment banking positions.” warns one insider. according to some insiders. they are also looking for someone who recognizes that there’s a lot to learn and is willing to learn it. “Most people in real estate—and most MBAs for that matter—work much longer hours. And not just white male—fraternity-pledging. logging about 50 to 60 per week.” Colleagues will include fellow MBAs as well as those with assorted other graduate and undergraduate degrees— even a handful without degrees in some smaller (especially family-run) firms. though: “It is getting better. “There’s no cap. however. but there are very stressful times.” A highlevel insider with a major Dallas brokerage firm agrees. Contacts are invaluable. Investment bankers may work 80 to 100 hours per week. but it’s not always easy. cultures vary by firm: One recent grad participates in weekly basketball games with his colleagues and reports that there’s plenty of informal socializing. you have to find a way to fit in and contribute. Productivity.” GETTING IN Some travel is involved in most positions. unless there are presentations or client meetings. not face time. According to one recent B-school grad now working as an analyst in a multiservice firm: “Many firms are dying to bring in more women and minorities. football-playing white male. the dress code has relaxed in the last five to 10 years. business dinners with clients may be the most social event of a week. Employers want to see ambition and drive. The focus in this industry. Real estate professionals—perhaps more so than those in other fields—need to stay current on a variety of issues ThE CompaNIES YoU NEED To KNow aboUT 35 .” says a recent graduate working in an investment bank. such as property and asset management. Individuals have to be able to work in that environment.” explains a recent grad now working in development. because relationships in real estate are critical. An MBA isn’t critical for many positions. About 80 percent of the hiring decision is based on personality. but the other parts of the industry are balancing out. The industry’s efforts to shed its conservative image makes this an ideal time for women and ethnic minorities to pursue careers in real estate. and there is little socializing besides an occasional beer or lunch with people.” hoURS ThE CRowD Hours in this field vary depending on the position and the company. is the measure. Companies’ efforts to diversify are starting to pay off. The atmosphere is friendly but demanding. depending on how close to deadline a project is. One real estate professor from a prestigious MBA program strongly urges students to use the Internet to post resumés long before graduation.000. up to 100. TRaVEL In many places. moVING Up You can move up quickly in this industry. experience is far more important for success in real estate. Socializing is generally very limited. because no one is going to hold your hand. But with freedom comes challenge: “To succeed. oFFICE CULTURE As in most industries. sometimes weekly.REaL ESTaTE ker can expect to be making $125. Consultants travel the most. the field is very white-male dominated. however. But more often than not. people can make millions. securitization. to produce you do need to put in the hours. Dress is generally business casual. and investment. because embarrassingly.” one source says.

” a recent grad says. “There absolutely is no typical day. One associate at Deutsche Bank says he spends much of each day “either writing or crunching numbers. The investment banking side of real estate may be a little less varied and entail limited client contact. particularly in development and asset-management positions. the consultant and the leasing agent can both do well—one analytical. looking at potential building sites. both bright. many look for more entrepreneurial opportunities. word processing. it depends on the job.” Since the principals don’t want the firm to grow.INDUSTRY GUIDE beyond business trends.” His advice? “Learn from the first kind of firm. Some have worked in investment banking or for a real estate firm before pursuing an MBA.” But others point out that real estate is so broad that there’s room for a variety of skills. self-motivation and focus are also crucial. that is even better.” one longtime real estate insider says. negotiating leases. negotiation. with “assistant vice president” as the starting position. others may be architects or engineers or come from a family already in the business.” Investment bankers. Forget strategy and big thinking. helping a client with a real estate decision. making critical investment decisions. Do you understand it at the investment level? One insider warns that this is where many property managers lose out. Developers often need both. geographic information systems. critical thinking. Curiosity. Top players and producers in this space know one another in every market niche: Networking is critical. and verbal skills. those on the investment side start as analysts. especially in a relatively small company. but very few rise to the level of understanding how investors look at the deal. Those planning to enter brokerage may start in property management or agency leasing. They are driven by keeping it occupied but fail to consider the actual yield. and property managers should have good analytical and writing skills.” says one Wharton graduate. and it’s important to be able to go with the flow. follow up on projects. appraisers. warns one analyst. perhaps moving into the “buy side”: investment management. 3. graphical analysis. database analysis. find the opportunity to take on these responsibilities. etc. confidence. on the other hand. honesty. consider these three pivotal questions: 1. Some firms don’t encourage mobility. What’s your level of responsibility? Firms want somebody who’s acted as a principal: someone who’s been responsible for negotiating contracts. Tax law changes. and go work for the second when you’re ready. Perhaps even more critical are analytic ability and quantitative aptitude. “Employees who become partners generally do so with around eight years’ experience. That may be as close as anyone gets to describing a typical day. Eventually. For instance. ”Some finance experience is almost a must.” An average day could include a number of activities. The promise of partnership provides a pretty big carrot. says one industry recruiter. and good communication skills were all mentioned. If you want to move ahead in real estate.” one insider says.” whaT IT TaKES “Both analytical and outgoing personality types can do well and have their place. one needs the ability to focus and get immersed in the details.” CaREER paTh Above all. For most positions. What do you know about the property? Do you understand how it operates? 2. work late. It’s not always up to you. Brokers and leasing agents. and so forth. One development insider says the path is pretty linear. the ability to multitask. and zoning regulations all affect properties and their value. “That is one thing people love about real estate. After graduation. TYpICaL DaY “Start early. “Other firms are looking to grow people to their fullest potential. On a more basic level. though a lot of junior people are concerned. answer e-mails and voice mails. schedule meetings. depending on the particular field: financing a project. new highway routes. They understand how to operate a property. “Real estate offers so many career paths that there is room to excel based on your own skills. now an associate at a New York investment bank. Pre-MBA career paths are quite divergent. and only go out to lunch if meeting a client. and the ability to see opportunities after others give up. creative problem solving. about how much partnership expansion will occur in the next five to 10 years. “Always emphasize this to potential employers. They may be what he calls “inherently small shops. one outgoing. as well as strong managementexpertise and a basic knowledge of every facet of real estate from site selection onward. and allocating capital. computer literacy is key.” 36 ThE CompaNIES YoU NEED To KNow aboUT . though. persistence. fortitude. Some real estate people get their MBAs right out of college. no one moves up. Employers expect candidates to know the basics: spreadsheets. as is membership in professional associations. If you are going to have lasting and increasing value in your career. If you are both. need well developed interpersonal. you need an entrepreneurial outlook: tenacity. Those in development may start by doing sales. marketing a property. hours and job structure vary.

” ThE CompaNIES YoU NEED To KNow aboUT 37 . which tend to be in vacation-oriented locations. such as development mISCoNCEpTIoNS Myth: Real estate isn’t about capital flow. one of the things impacting the real estate industry—that will always impact the real estate industry—is capital flow. An MBA can’t hurt. some investment professionals have the opportunity to co-invest. at least) to be exposed to all facets of the business early in your career • Potential for equity accumulation • Co-investment opportunities • In some fields. but experience. unlimited opportunities for wealth • High-energy work environments • Ability to work on tangible projects with considerable civic impact • Good long-term compensation Cons • Potential for very long hours • High risk: a deal you’ve worked on for a year or more could fall through in a second. “Where is the capital coming from?” Myth: An MBA is critical in this field.REaL ESTaTE bUZZwoRDS Modeling FFO (funds from operations) Conduit Leverage Capitalization Mezzanine REAL ESTATE Capital structure Co-investment Cap Rate pRoS & CoNS Pros • Opportunity (in some jobs. and drive are far more important to success in this business. Reality: It’s not a must. “Economically speaking. Reality: It is. And one recent grad who works in hospitality development: “We get to stay at a deep discount at any of our properties. GREaT pERKS Perks depend on the type of company. personality.” a recruiter says. • Old boys’ network atmosphere • Instability in certain sectors. For instance. The most important thing to ask an employer is.

you can still find thousands of jobs at smaller. Clear Channel. anti-corporate mentality. film company. Mergers and acquisitions. One television executive remarked that at every Christmas party he had a new boss. Vivendi.and live performances all under one roof. Another industry joke: “If my boss calls. and NBC Universal. and merger management. But as much as Americans may blame the media for society’s ills. Celebrities often find themselves barraged by people who want to tell them how to handle their finances. The majority of these multinational companies have an interest in each of the six facets of the industry: TV.—MBAs looking for exposure to the M&E industry can choose from a variety of positions. restaurants. film. There are nimble film and television production companies that may work with big networks and distributors. record labels. and directors may be good at selling records and movie tickets—but that doesn’t mean they know how to invest their pots of gold. Some publishing imprints. and new media. Those who work in the industry will find it’s often a thrilling. and many are justifiably wary of these overeager money managers. including Booz Allen Hamilton and McKinsey & Co. Hollywood and the media have been blamed for everything from crime to eating disorders to the deterioration of the family. ride. the online challenges can be great: Why plunk down one dollar a day for a New York Times when you can read its Web site free after registration? Why spend $17 on a CD or video game when you can download only the songs you really want for 99 cents each on iTunes? Will the weblog trend peter out or will it continue to flourish as an alternative means of news dissemination and analysis? What about podcasts? As the technology grows more sophisticated. Agent or Money Manager. independent firms. and film production companies operate like independent houses.S. maJoR pLaYERS oVERVIEw Few industries are held in as much awe—or contempt—as the media and entertainment (M&E) industry. McClatchy agreed to purchase its rival Knight-Ridder for $6. This volatility can be unnerving for employees. music. helping develop strategic alliances and partnerships. a new category of entertainment is emerging out of the gaming business. TRENDS Technology has brought new challenges to the industry.5 billion. However. at a mutual fund you may develop relationships with M&E CFOs to try to decide whether you should buy into Time Warner or Disney. the pressure to profit from it will grow in tandem. Investment Banking. many top consulting firms have growing practices in M&E. JobS Aside from the obvious—working on the business side of a publishing house. Consulting is also a good stepping-stone for career changers who wish to break into M&E without prior experience. if bumpy. For those who would like to be near the industry but aren’t willing to sacrifice the stability of a traditional MBA job. in 2007 bought the venerable Wall Street Journal for $5. even if they ultimately report to a larger corporation. Viacom. later resulting in the formation of NBC Universal.6 billion in one of the highest profile media takeovers in recent memory. Time Warner. MBAs can use their contacts and experience as consultants to strike out on their own down the road. Big-name actors. as many of these companies hire straight out of consulting firms’ media and entertainment practices. Increasingly these firms are being hired to deal with cost-cutting. shopping . newspaper conglomerate. forming the second largest U. Rupert Murdoch’s News Corp. publishing. Recently. the initial hype has died down as the top brass search for new ways to make the Web lucrative. the dominant players are huge conglomerates like Disney. (Arguably. accommodations. they are still its avid consumers. as companies like Harrah’s operate properties that offer casinos. Another post-B-school Although the entertainment industry is characterized by an artsy. Opportunities abound in buyside banking or asset management. etc. An MBA could provide credibility and a competitive edge in this arena.) However. Consulting. these jobs can be difficult to get directly after business school. devouring news of Jennifer Aniston’s divorce or Michael Jackson’s legal troubles as if they were close personal friends. Jobs in these companies might not have the security or the salary of more traditional MBAtrack positions. For mainstream media ventures. restructuring. get his name. For example. but their rocky marriage was not to last.INDUSTRY GUIDE [mEDIa & ENTERTaINmENT] possibility is to work in-house for an entertainment company. even without prior experience. radio. musicians. Business Development. While the possibilities of the Internet continue to excite media executives. Seagram and Canal+ merged to form Vivendi Universal.” 38 ThE CompaNIES YoU NEED To KNow aboUT . Bertelsmann. and the volatile economics of the industry keeps the stress level high. But the diehard media junkies who work in this field wouldn’t have it any other way.

funny. Programs like The Apprentice have showcased this trend. and ending at around 7 or 8 p. ThE CRowD In general. a relatively unstructured environment.” this is an industry where contacts mean power and upward mobility.000 to $300. While most major motion pictures continue to be made in or around Hollywood. there are an increasing number of independent films being produced. which skips the ad and places the product right into the TV show. say. For MBAs. say. but it’s still “work” that will absorb a lot of your personal time. It’s difficult to make generalizations about such a diverse industry. and rapid advancement opportunities for talented individuals who know how to schmooze. oFFICE CULTURE MBAs should expect to take the “entertainment industry haircut”—that is.000. Attending industry parties is less strenuous than. hoURS “Absolutely whatever” is how one record-company vice president described her office’s dress code.mEDIa aND ENTERTaINmENT Integrated marketing.000 to $80. There are crunch periods. Such moonlighting on the part of lower-rung employees is not just tolerated. with plugs for everything from Pepsi to Norwegian Cruise Lines. the recruiter is an aspiring screenwriter. lower pay in exchange for the excitement and glamour of the industry. Even support staff will usually have a side gig: the receptionist is an opera singer. Comics and cartoons frequently make more money on the toys licensed from the product than the actual product itself. The aforementioned vice president said she didn’t even own a skirt suit. With the advent of cable television. next to the technology sector. you should be able to start at $70.m. TRaVEL Although some industry executives make frequent trips between New York and Los Angeles. viewers are watching fewer and fewer ads—opting instead to surf. television rights.000. talented people. the buzz about who’s going to make money from selling audio and video online—and the copyright issues involved— has grown to a fever pitch. fast-forward or edit out those “important messages from our sponsors. and at entertainment companies you’ll be expected to look hip. and worldwide box office sales to turn a profit. These companies have come to value MBAs with industry relationships and experience with investing. there are few industries that take the concept of “corporate casual” to such an extreme. Branding. If you want to move up. Casual is not equivalent to slob. where 12-hour days are not uncommon. investment banks. T h e re a l One of the great perks of working in the entertainment industry is that you are invariably surrounded by smart. it’s a good idea not to get too casual too soon. a high-ranking vice president in the entertainment industry can expect a salary in the low six figures—anywhere from $100. digging a big ditch. positions usually do not require heavy travel since the majority of the business is conducted in these two cities.m.” leaving broadcasters under increased pressure to boost ad sales and cut costs. Book authors create Web sites. you’ll be going to a lot of parties. Smaller offices often allow pets to come to work. since the companies generally know more about filmmaking than about independent financing. Many of our insiders reported relatively humane days. and now TiVo. But even if you work in an office where the creatives are wearing flip-flops. this means more opportunities to work on movies. Just because the boss is wearing blue jeans doesn’t mean that you won’t be expected to have a certain look. Not that M&E executives are struggling to make ends meet. With the continuing popularity of Apple Computer’s iTunes Music Store and incarnations of the iPod. usually at the beginning or end of the year or around deadlines. Although many insiders say that their offices do not believe in “mandated socializing. And the ever-shifting ownership of many companies often yields longer hours and increased stress. Indeed. hip. All facets of the entertainment industry are looking for ways to extend their brand. creative workforce. etc. SaLaRY time-suck comes from the many after-hours events that you have to attend if you want to move up in the industry. This has left the field ripe for integrated marketing. Downloadable Music and Video. This can be a great deal more challenging than simply donning a $500 suit. think again. This is a business grounded in charisma—and you will be valued for yours. VCRs. it’s ThE CompaNIES YoU NEED To KNow aboUT 3 . It’s important to understand the special challenges inherent in casual offices. Movies look to video rentals. however. not to mention upstart YouTube. depending on the position. those who work in this field will undoubtedly encounter a young. And screenings. Television shows create magazines. And music showcases. beginning at 9:30 or 10 a. If you think you can go to work in scruffy sneakers and a Raiders sweatshirt. Fresh out of business school. Independent Film. She was wearing red thigh-high boots at the time. the actual on-the-clock hours will not rival the insane schedule required by. and it’s not unusual to see CEOs padding around the office in jeans and sneakers.

. You’re frequently referred to as ‘the MBA. “If people don’t return your calls. and have a thick hide. but this is changing. and ask lots of questions.” and it’s clear that the most successful media executive is the one who doesn’t need to see his/her name in lights. Do whatever you can to get your foot in the door—whether it‘s attending a seminar taught by a media honcho. there’s no such thing as the “average media executive’s day. Because they have a surplus of wannabe employees. or production departments. Most firms value bottom-line success over loyalty and tenure. This is thrilling if you’re the receptionist who quickly ascends to development executive. Read as much as you can. You’re selling emotional experiences—and that’s not always something that can be neatly quantified or laid out on a spreadsheet. hires many business school grads.’ but daunting for those who need more structure.” but here’s how a few insiders described their typical day: 40 ThE CompaNIES YoU NEED To KNow aboUT . Overall. say. The conventional wisdom has been that an MBA is more valued on the East Coast. a movie or CD is a distinctly different product from. Background in the industry is a plus. that could help your standing at a record company. “This is invigorating for those who ‘get it.” Most of the people you’ll run into will have at least a bachelor’s degree. And many of your officemates will be transplants from the creative side—former editors at publishing companies. “Name drop.’ You learn a lot.INDUSTRY GUIDE actively supported. That’s Susan’s MBA. marketing. based in North Hollywood. “You can’t come in and fake it. M&E companies don’t do a ton of recruiting. “and [only] as relevant to the listener. Network. Combine that with the general distrust many creatives have for “the suits.” Passion. Most MBAs can expect to start as assistants in the finance. If you deal with big stars—or even not-so-big stars—you will likely also have to deal with big egos. Disney. “You don’t get a lot of respect. The entertainment industry is filled with people struggling to get into the limelight. not because they don’t like you. Humility. Despite the billions of dollars that are at stake. as long as she kicks butt while she’s here.” The most exciting/unsettling aspect of a M&E career is the industry’s lack of adherence to traditional protocol. A good sense of humor goes a long way. this is still a very anti-corporate culture. “I don’t care if she doesn’t live and breathe this stuff when she goes home. terrifying if you’re the faithful workhorse who hasn’t been associated with a lucrative project. one insider says. GETTING IN moVING Up “There is no typical career path in any media business. doing an internship at an indie record label.’ as in ‘That’s Jeff ’s MBA. while film and music are largely headquartered in the West.” In order to really function in this culture you need to be as passionate about your industry as the creatives are. you must be willing to rely on your instincts. i. or schmoozing with your roommate’s girlfriend who works at Viacom.” a new media VP advises. If you’ve worked in consulting or investment banking. for one. however one industry executive says to be cautious before taking a position as “assistant to the president. but you don’t have good access to the people in the trenches.” which is typically a one-year posting for MBAs. and many will have more advanced degrees—but don’t expect them to be overly impressed with your MBA. As one executive said of her fashiondesigner assistant. The general feeling is that artistic types enhance the office culture and tend to be smarter. a book publishing CEO says. Publishing and television tend to be concentrated on the East Coast. and you won’t be respected. While there are executives on the financial end who move up in the entertainment industry without serious knowledge and love of their genre. it’s not enough that you “like movies. Be persistent. since these are people who have the brains for higher-ranking positions but have consciously chosen to keep their responsibilities to a minimum (at least for the time being). if you want to make it big in this industry you’re going to have to move to one of the coasts.e. Your colleagues will also have a wide variety of employment backgrounds. it’s because they’re busy. they are the exception.” whaT IT TaKES Move to New York or Los Angeles. While there are certainly opportunities at regional newspapers and local television affiliates. TYpICaL DaY Because this is such a diverse industry. Show that you understand the industry. Good instincts. and it could put people off. because you’ll get found out. if you played in a band before business school. but carefully. because many people will feel you haven’t earned the right to be there. That’s why networking and developing contacts is crucial if you want a job in this industry. for example. showing that you’ve had a client in the industry could also be helpful. too. a bar of soap. To succeed in this industry.” one insider says. such as consulting and law. Although there has been a trend toward more market testing. and you must have the flexibility to work with people who think on a very creative and “gut” level. One Bschool grad strongly advised against “throwing the MBA around”—it won’t impress anyone.

others it’s writing ad copy. • You are constantly bombarded with distant relatives and vague acquaintances who want you to read their screenplay.m. doing presentations to the general managers to see that they know what the numbers are. collaborate with co-workers in coming up with show ideas/concepts.” Record company vice president: “My day is filled with meetings: meetings with my department to see what they are working on. contact various network heads..mEDIa aND ENTERTaINmENT A television development executive: “Phone calls. One to two hours of reading before sleep. and she said. Afternoons for callbacks. meeting with other department heads to go over marketing budget. Some days it’s creating a financial model. ThE CompaNIES YoU NEED To KNow aboUT 41 .” Book publishing CEO: “Rise at 4 a. fun environment with lots of smart. creative people. And I spend a lot of time on e-mail. • Dealing with big egos and other “challenging” personalities. blockbuster movies. I’m damn good at email. possible opportunity to say. lunch. mISCoNCEpTIoNS Myth: It’s glamorous. e-mail. • A hip. • Environment can be unstable. informal brainstorming. and breakfast or dinner meeting.” Reality television Dramality Legs Frontlist/Backlist Content providers Convergence Scaleable One-time authoring Green light One-stop Package Risk-sharing pRoS & CoNS Pros • An insider’s exposure to the culture—knowing about hot bands. Reality: It comes with its fair share of glamour. Work out.” News service summer intern: “There is no typical day. one to two meetings regarding the implementation of existing deals and relationships. backstage passes. oversee shows in production editorially. one hour of phone calls. invitations to the Grammys. Work-related dinners or functions two evenings per week. • Fab parties. • Your job sounds cool at cocktail parties. or economic models. Morning meetings with key staff. e-mail.” A new media executive: “One to two pitches by small companies wanting our content and cash.” bUZZwoRDS Cons • The money doesn’t match many other MBA positions. Read Variety. • The excitement of knowing you’re helping to shape the culture. • Opportunity to rub elbows with celebs. “So I was talking to Sharon Stone in the elevator yesterday. or pitch their idea for a reality series to your boss. and reading catch-up. but not as much as you might expect. Read papers. and other times it’s negotiating partnership deals.. one hour of work on term sheet. hit TV shows before they hit the mainstream. GREaT pERKS Movie screenings. presentations.

bonds. wiser manager: More than most financial industries. in pretty good shape. they hire an investment manager. conventional wisdom said that paying people to invest your money was ridiculous. While working on the buy side is extremely lucrative in the long run. Most business school graduates will probably find that the quickest entrée into this world will be through large mutual fund companies that offer a complete (or nearly complete) roster of services and products. government institutions. and choice seats at sporting events. Investment managers. A few years ago. put it in a company-sponsored 401(k) plan. also known as asset managers. New respect for professionalism. 42 ThE CompaNIES YoU NEED To KNow aboUT . and other financial instruments. this philosophy shifted a bit. as well as some government organizations such as the California Public Employees’ Retirement System (CalPERS). funds want people with gray hair. TRENDS Business school graduates can expect to receive from $125. foundations. Such firms include Fidelity Investments. and are continually courted by salespeople from investment banks and other financial institutions—the “sell siders”—who attempt to persuade asset managers to invest in their products. or dabble in the stock market. When large corporations and wealthy individuals are flush. with thousands of firms. if you can snag an investment management job right out of business school you’re. But now more than ever. they hold a high-status position in the financial world. While some portfolio managers make most of their decisions from models and research reports. say. Hedge funds might use daring tactics. and are garnering more respect from investors. Large hedge funds like Soros and Tiger bottomed out. varies greatly but tends to be between $200. “You’re really not upholding your fiduciary duties if you’re not out kicking the tires. because such positions are more plentiful. universities. Companies. and foundations. universities. and are frequently treated to pricey dinners. a technology fund.” one assistant portfolio manager says. Insurance companies like The Guardian Life Insurance Company of America and New York Life also wield considerable influence in the industry. and Vanguard . such as portfolio managers. TRaVEL The older.000 in salary and bonuses. wealthy families. they may stash the cash in a savings account. often going overseas as well. Lately. some say that starting salaries at sell-side jobs can be slightly higher. you’re probably going to spend most of your day crunching numbers at a desk. Because investment managers control such large sums.” one asset manager says. But in the bull market of the ’90s. These companies manage assets for large corporations and wealthy individuals.INDUSTRY GUIDE [INVESTmENT maNaGEmENT] and experience. are charged with overseeing part or all of their clients’ money and investing it according to the clients’ particular needs. “During that time. and municipalities are among the institutions that entrust their assets to an investment manager.” one investment manager says.000. such as General Electric and Microsoft. Compensation for more experienced investment managers. However. Other players include large corporations with high levels of assets to manage. They work on what is called the “buy side” of the industry. managed funds are getting a chance to shine again. A comeback for hedge funds. investment management is one that values age If you’re starting out as a research analyst. many believe in doing the legwork and pack their bags about once a month. fund companies.000 to $200. hoURS Office time varies depending on the culture of the firm and the particular type of asset management you do. and smaller boutiques are doing well. Janus. maJoR pLaYERS This is a huge and extremely diverse industry. more travel may be required. since index funds pegged to the Dow or the S&P 500 consistently outperformed any of the handpicked funds. I never work weekends. Nevertheless. expensive golf outings. SaLaRY oVERVIEw When ordinary people have extra money in their pockets. The asset manager then invests that money in stocks. as you move up the ranks. unions. Time has now vindicated the hedge fund. Our sources reported working anywhere from 40 to 65 hours a week. but during the late ’90s major players in the industry couldn’t get a grip on the technology boom and suffered greatly. Investment managers are treated like clients: They call the shots about when and where meetings take place. “I never work evenings.000 and $500. being young and Internet-savvy was considered a good thing for. however.

an investment manager who skipped business school and instead got a Ph. if you’re focused on getting an asset management job.” an assistant portfolio manager says. sports tickets.D. and a guy who worked for 10 years as a bond-ratings analyst and got his MBA part-time. Interviewing Tips Still. second. • Understand each firm’s philosophy—and every firm has a different one. Most investment management firms don’t even recruit on campus. ThE CRowD “When I decided to make a career change (leaving academe). “This profession attracts very mercenary. but individual departments will have their own particular bent. and so on.” one assistant portfolio manager recalls.” Some offices have a trading floor set up. and it promotes a lot of camaraderie.’ That’s a very different conversation from ‘I just graduated from business school. more experienced employees is another reason these jobs are so elusive for new MBAs. and he While most of your colleagues will probably have an MBA. he should know what kind of investor I am and what kind of philosophy I have. • Show your love for.) So it’s critical that you understand what your prospective employer’s is before you walk in the door. so when quitting time comes your colleagues will most likely be dashing back to the ’burbs. “We all have our own families. This has two main benefits: First. there are legions of salespeople eager to shower you with expensive dinners. “We still wear suits.” ThE CompaNIES YoU NEED To KNow aboUT 43 . Everybody from the CEO on down is on a first-name basis.INVESTmENT maNaGEmENT oFFICE CULTURE GETTING IN As an investment manager. the founder (a former engineer) does not. knowledge of. ‘Hey have you looked at XYZ company? Here’s what I think would work. “But unless I’m on a phone call like this one. Investment managers tend to be older than other finance-industry types. While you may find some firms in New York or Boston where colleagues gather for impromptu after-work beers. At another firm. their pre-business school backgrounds will be quite varied. “The most important characteristic to convey in interviewing for an analyst position is a passion for investing and investment analysis. As far as I know. most insiders say it’s probably attainable if you bear a few things in mind.” If you’re completely new to the field. There are always people leaving. quantitative people—pure capitalists. Investment management’s proclivity for older. I don’t get my reward by saying I found a way to sell three million laser jet printers in Romania. “[Sell-side] jobs are plentiful. or Capital have a wide range of styles. making a lot of friends. my friend.’ “one industry veteran says. We hope that your job hunt goes as smoothly as this. and their love of money.” one asset manager says. it’s unlikely that an investment management job will juice up your social life. who worked here at the time.000 employees. I’m out there.” • Come in with five or six ideas. “We all have our own offices. introduced me to his boss. Be able to talk about companies you like and why they are different. People with financial instruments to sell ingratiate themselves to you.” an asset manager says. the atmosphere seems very casual.” says an asset manager who handles investments for one of the country’s richest families. there isn’t a single person working here who started right out of school. so at 7:30 we’re going home. who interviewed me over beers and offered me a job the next day. and (hopefully) experience in investing. “Most of the people here spent several years working on Wall Street. I don’t need to feel like I run a company of 40. What binds asset managers together is their penchant for competition. you’ll probably start out as an analyst and slowly climb the ladder as you learn the ropes. some focus on active trading. while others are more value-oriented. you get to work in a more relaxed environment. and initially they pay more. (Bigger houses like Janus.” says another. So a lot of jobs on the sell side are easier to get. “Other than that. and commercial credit officers in their past lives. The philosophy seems to be to hire people who already know what they’re doing and can jump right in and start making money. “It’s far better to go in and say. “If a person were to interview with me. Fidelity. lawyers.” says a hedge fund manager who worked on the sell side for several years before snaring his current position. this is not the job for you.” But don’t expect this collegiality to extend too far outside the office. I’d rather make $5 million a year and have no employees. It works because then everyone is in the information flow.” says an asset manager for a private equity firm. in finance and economics says his two closest colleagues are a former accountant. and I think I’m pretty smart. you have clients whose assets you control—but you are also a client yourself. One problem is supply: There simply aren’t as many jobs. While the majority of his co-workers have MBAs. “If you’re looking for a party culture—hanging out with other just-minted MBAs. One institutional investor says that his colleagues have been accountants. who didn’t go to business school. “It’s not a touchyfeely kind of business. but don’t be discouraged if it doesn’t: Buy-side jobs are extremely competitive. traders. For example.

“It’s comforting to people that there is this objective measure. as are basic interpersonal skills.” a private equity firm vice president says. “We’re very flat.” one hedge fund manager says. If you’re Long/short Leverage Active Growth Value Distressed Buy side/sell side Gut-check 44 ThE CompaNIES YoU NEED To KNow aboUT . Investment managers who can only crunch numbers can’t always do that. running numbers.” one asset manager says.” Another industry veteran puts it this way: “A third of the day is spent reading financial documents. they won’t rip you apart. Your idea could be right.” says an asset manager who took that route at the beginning of his career. ‘Hey.m. magazine articles.m. Another third is spent working on computer modeling—creating spreadsheets and financial models to figure out what investments are worth. they will rip you apart.. and getting investment ideas and information to support the ideas I’m researching. Talk to five or six sell-side people to find out what’s going on in the bond market.INDUSTRY GUIDE needs to give me the impression that he shares that philosophy. “If your technology sector fund is doing badly and the investor complains.” he says. “But if you go to a value manager and start talking about growth stocks. doing administrative stuff. It’s a lot like journalism. you need to be able to take huge numbers and very disparate facts. But if you don’t have an inherent interest in things financial. That means you’ll be sitting at a desk. according to one insider.’” Sector funds are also a good proving ground because they can help you find a specialty—a crucial skill.” one asset manager says. consider starting on the sell side. technology stocks are doing poorly overall.m. and writing reports. One asset manager says: “Can a chemist go to business school and do well in this field? Sure. “A surprising number of asset management firms are looking to hire someone with a liberal arts background. there may not be a clear hierarchy: you just get better at your job and make more money. say.” • If you can’t get the buy-side job of your dreams. “Sector funds are a good place to cut your teeth.” whaT IT TaKES not keyed up to read a 712-page credit agreement. Prior to the interview. because I’m not going to hire someone who doesn’t have my point of view.” Most asset managers start out as research analysts. etc. and 8:30 a. “People get used to doing canned interviews. I probably spend about a half-hour to an hour discussing markets/ ideas/whatever with colleagues. and scan Bloomberg news to find out what’s going on in the world. you may be asked to assist in the managing of a portfolio or possibly manage your own sector fund—a specialized retail fund in. Next. “A lot of people start on the sell side. Generally pretty busy . telecommunications or health care. “My job appeals to frustrated academics because you get a ‘grade’ at the end of every day. who explains that an appreciation of history and an ability to write are essential skills in this job.” says one investment manager. On the other hand. to noon. but it won’t matter if you have the wrong execution. then it won’t work out. You’re making recommendations but not calling the shots. but many investment managers admit that it would be hard to find a general theme among the best and the brightest. And a third of day talking on the phone to investors. If you don’t. “Take the money.” he continues.” Communication skills are also essential for the dealmaking end of the job. they just won’t ask you back for another interview. Get the experience. “As Warren Buffett says. if you go to a smaller firm. you should be able to explain any investment strategy to your great-grandmother.” bUZZwoRDS It’s no surprise that the overwhelming majority of investment managers have a business background. you move up. Actually. I spend a lot of time reading research/strategy reports and trying to come up with more investment/trading ideas. Afternoon is generally slower.” Most people in the field have MBAs. magazine articles.” one investment manager says. I’ve been doing the same thing since the day I got here. I don’t report to anyone. Morningstar reports. Read the Wall Street Journal. you can say. the stock selection isn’t as critical because there aren’t as many options. do as much research as possible: check out Web sites. you won’t succeed. We report to each other. from about 9 a.” moVING Up The great thing about asset management is that it affords very little bullshit room.. “Moving up generally involves finding a niche and establishing a position that didn’t exist before. If you make money. “You need to be able to communicate in different ways with different kinds of people to get what you want. you won’t. “There’s no hierarchy. and put them together to form some sort of story. TYpICaL DaY Here’s how one insider describes the day: “In the office between 8 a.

The money is just another measurement that tells you how you’re doing. Reality: “You have to want to make money to last long.” ThE CompaNIES YoU NEED To KNow aboUT 45 . You can play golf on a nice course. Our insiders say they can receive tickets to whatever sporting events they want to attend. Reality: “Warren Buffett is a smart guy.INVESTmENT maNaGEmENT pRoS & CoNS Pros • Good pay • Reasonable hours • Generally not as stressful as sell side • Objective performance measures keep politics to a minimum • “Never boring” • “You can read five or six newspapers a day and that’s considered ‘work’” • Everyone knows when you win Cons • Everyone knows when you lose • Hard to get a job right out of business school • Starting salaries are sometimes lower than at sell side jobs • Minimal social interaction with colleagues outside of work • First few years most likely spent chained to a desk mISCoNCEpTIoNS Myth: Investment managers are driven by money. the problem is you have to play golf with the sales guy from Goldman Sachs. But even the good life has a downside: “If you work for Fidelity you have everyone on Wall Street kissing your ass. but he’s not a rocket scientist—and neither are we.” Myth: All investment managers are geniuses. and are taken out to their cities’ hottest restaurants. but it’s not about getting rich. It’s just hard work and common sense. If they would just let you play golf alone. or if they got you a table at Nobu and then went home. It’s not about buying a yacht. you will be courted continually by salespeople who will shower you with enticements.” GREaT pERKS As the buyer. that would be nice.

This bodes well for MBAs.S. and program management are also functions offering opportunities to the B-school graduate. the administration announced the President’s Management Agenda. auditing. twice.INDUSTRY GUIDE [GoVERNmENT] Service. making it the number one civilian employer in the world. It also calls for overhauling the government’s recruiting and hiring policies. many MBAs embark on their employment search without ever considering this vast pool of potential positions. U. Agriculture.000 different entities has its own mission. the government doles out a portion of its budget to private consulting firms hired to improve processes and leverage best practices used in corporate America. A focus on diversity. Department of Transportation. agencies are increasingly working to institute private-sector discipline. One student reported that several. The types of jobs available to MBAs vary greatly. As a result. the Department of Labor might have a lower starting salary than a cushy position at an investment bank. CIA. and Veterans Affairs. Each year. The underlying mission of all government entities is to serve the American public. Some agencies. This mandate requires increased accountability for performance in a number of key areas. TRENDS oVERVIEw MBAs and government are not mutually exclusive anymore: The feds are actively looking for graduates with top-notch business skills. including the Department of Justice. and Department of State are also increasing their presence at MBA job fairs. Commercial An aging workforce. and Department of State. as the government looks to increase its efforts to hire and retain the best people. Increasing the level of in-house business expertise will only help in the quest to improve the business of government. What can an MBA do for Uncle Sam? Plenty—including becoming president of the United States. An MBA commander-in-chief.S. the government is actively seeking to recruit more women and minorities. have launched formal programs that target these 46 ThE CompaNIES YoU NEED To KNow aboUT . Scandals in corporate America. and the Federal Reserve Board also actively seek individuals with economics and finance backgrounds. and the U.S. the negotiation and management of the government’s many procurement contracts. two of which are financial performance and the strategic management of human capital. The plan includes new and more stringent financial reporting requirements and measures to increase fiscal accountability. Although the federal government employs more than 1. is a critical area for which many MBAs are hired. given the administration’s push to instill a sense of business discipline in the public sector. all participated in on-campus recruiting at his school. U. maJoR pLaYERS A prime destination for MBAs: the Department of Defense. budget analysis. accounting. President Bush has stressed the need for government to be run more like a business. The human resources segment of the President’s Management Agenda is holding feet to the fire and mandating agencies to dedicate additional resources to workforce planning. say. The President’s Management Agenda. including the CIA. there are plenty of perks—like three day weekends and a 9-to-5 schedule—to offset the financial discrepancy. As this anticipated wave begins to take its toll. Bush has demonstrated. In order to capitalize on this trend. Court of International Trade. many senior-level positions are becoming vacant more quickly than they can be filled. As the country’s demographics change.000 finance and accounting professionals. National Institutes of Health. the profile of the typical American worker is becoming significantly less white and less male. In fact. The bureaucracy-heavy. the current administration has implemented several initiatives to help the government run more like a business. Although a position in. Several years ago. However. The Departments of the Treasury. the skill sets of MBAs are increasingly in demand. More than ever. Human resources management. and not every agency is an ideal place for an MBA. Contracting. Fifty percent of the government workforce is eligible for retirement within the next five years. which employs approximately 15. The recent wave of high-profile business scandals has prompted the government to increase corporate oversight. Each of the federal government’s more than 1. The current need for leadership inside many government agencies is tremendous. and the MBA community is one of their prime targets. Increased focus on workforce issues.8 million. This is creating new opportunities for individuals with business training and experience. agencies are reaching out to the best and brightest. FBI. Agency for International Development (USAID). Numerous agencies like the Department of Labor. as Harvard Bschool alumnus George W. fiscally unsavvy federal behemoth is getting a makeover of sorts. As the first B-school graduate in the Oval Office.

with salaries hovering around $50. Congress allows government agencies to offer qualified employees up to $10. As an MBA. for student-loan repayment. before going in for an interview. SES positions have five levels.000. the minimum retirement age is 57.700. flexible work arrangements.gov. you receive in the form of vacation. the hiring process can be quite lengthy. essentially pulling in two salaries. whose salaries run on the Senior Executive Service The government is well known for its standard eight-hour workday.S. On-campus recruiting is a relatively new tool for most government HR departments. and other agencies that deal with classified information typically require every potential employee to obtain a security clearance and submit to a polygraph test. this extra effort is appreciated rather than expected. area. less glamorous agencies. and State Department can afford to be more selective than other. The Bush administration has established a pay-per-performance system. A network modeling specialist at the U. Postal Service says that her team occasionally works on the weekend. SaLaRY (SES) schedule. visit the site of the specific agency you are interested in. including MBAs. will require you to submit to a background check.630 (GS1. the vice president’s 2007 salary. are typically hired at the GS 9 to GS 11 levels. as a combination of pay and bonuses. with basic salaries of up to $186.000 per year. About half of all government workers fall within its guidelines. consult the government’s official job website. which grooms talented individuals for future leadership positions.GoVERNmENT segments of the workforce. • Have a clear idea of why you want to work for that specific agency. www. It provides information on available positions as well as instructions on how to apply. as it is in many private sector jobs. All government salary information is publicly available and may be found on the Internet. step 10).S. What you don’t bring home in your paycheck. Most agencies. • Know how the skills you bring to the table will assist the organization in meeting its objectives. The GS schedule consists of 15 grades.000.700—small change to many Wall Street investment bankers. The CIA. Still. In addition.Many government agen- ThE CompaNIES YoU NEED To KNow aboUT 47 . “I work 7 am to 4 pm. For example. step 1) to $120. Postal Service has a highly selective Management Interns Program. The government’s official web portal—www.” says one manager at the Navy. No matter where you apply. and reflects the differing SES wages. the U.gov—contains an A-Z index of links to all departments and agencies. It’s an opportunity to make a lot of money. and I get two three-day weekends a month. government recruiters may visit only a select number of schools—perhaps just those in the Washington. FBI. or a maximum of $60. Many government employees retire from the public sector and take positions in private consulting where they are very well compensated for their valuable expertise. there are also a number of executive-level positions. paid holidays. While recruiting programs develop. The government also offers a retirement plan for employees who put in 20 or more years of service. $218. Depending on which agency you are applying to. Candidates with an MBA or related master’s degree can apply to this two-year training program. do the following: • Read up on the latest political news and current events. Competition for employment varies from one agency to another. For information about jobs at agencies that don’t show up on your campus. D. perhaps. Under pay rules newly approved by Congress. federal executives can get $165. Applicants with graduate degrees.usajobs.000 a year and Vice President Dick Cheney. • Be sure that you understand the mission and goals of the organization. Keep in mind that President Bush makes only $400. Effective January 2007. National Security Agency (NSA). For those born after 1970. Not the best fit for the aspiring multimillionaire.981 (GS-15. hoURS The General Schedule (GS) is the government’s standard system for determining the salaries of its employees.200 in base pay and no more than $218. Following GS 15. and other attractive programs.firstgov. Some government employers have also started offering recruitment and relocation bonuses and student loan repayment incentives. There’s no guarantee that the agency you are interested in will recruit at your school. Often an agency’s site will contain information about special internships or management-training programs. with 10 steps in each grade.. you’ll find that your government salary is most likely lower than those of your counterparts in the private sector. after which eligible individuals receive an annuity based on their length of service and highest three consecutive years of salary.C. for example. He noted that about 50 percent of the employees in his group take advantage of the flextime benefit. The CIA. however. she said.600. a government salary can range from $16. superior health benefits. Those who take advantage of flextime work nine hours a day in exchange for alternate Fridays off. government employment offers many perks.

and this filtering process requires a lot of meetings. The day typically ends eight hours after it starts: Most government offices turn off the lights by 6 p. There is also a sense that through your work you are making a contribution. Diversity is a big focus at many 48 ThE CompaNIES YoU NEED To KNow aboUT . (Some workers arrive earlier in an effort to avoid D. you won’t necessarily move any faster than your peers. Last-minute projects don’t pop up on a Friday afternoon. “You are often put in positions where you have the power to take advantage of a situation.C. but the government will never keep you from taking your vacation. employees often rearrange personal commitments and vacation schedules to accommodate the whims of their clients.m. and 9 a. In most agencies. the best way to get ahead in the government was simply to show up for work. The amount varies by location. and most insiders say its male/female ratio is fairly balanced. Corporate credit cards and expense accounts are not used in the government.C. Fridays are casual. Typically employees wear suits to meetings. When traveling domestically on official government business. Regardless of performance. Some agencies offer the opportunity for extensive international travel.” TYpICaL DaY Government employees are expected to be willing and able to travel. which typically begins at GS-13. for instance. once you’re hired. D. Numerous employees commented on the sizable role that politics plays in promotions.) Nearly all of the insiders we spoke to scheduled our interviews amid a multitude of meetings. employees who stayed were gradually promoted. An appreciation for public service is also very important. a division of the Department of State. offers travel opportunities to nearly every country on earth. whaT IT TaKES Those who succeed in government typically believe in the goals of their agency.m. many more promotions are becoming merit-based. Decisions in government must be filtered up the chain of command. Insiders we spoke with noted the dress code in their office is formal during the week. A n o t h e r employee spoke of an environment where morale is high and the overall mood is positive. She also remarked that her fellow colleagues were generally very appreciative of one another’s work: “As compared to the private sector.m. The best advice: Perform well and learn to schmooze. this is above the level at which BAs start. Nearly everyone we spoke to indicated that meetings accounted for a significant portion of their workweek. In consulting and banking jobs.” one manager at the Navy says.’s hideous rush-hour traffic. Although credence is still given to length of service. This situation is quickly changing.” oFFICE CULTURE agencies. “You’ll earn the respect of your superiors by exhibiting a solid moral character. you are allotted a set amount of money to cover your meals and daily expenses. but still below management level. The Foreign Service. At the Foreign Service.. This can sometimes work to your advantage—you are given the money whether you spend it or not. Another added benefit: a predictable work schedule.INDUSTRY GUIDE cies offer employees comp time or overtime pay for working more than the regular 40 hours a week. including ties for men.” How many I-bankers get to say those words? TRaVEL Historically. the culture will differ based on the agency you are working with. Note: An MBA is no quick ticket to a promotion.” moVING Up Given the extreme variety of government jobs. you are more appreciated. In the words of a former management consultant who became a government manager: “You aren’t penalized for taking a long weekend to attend your brother’s wedding—and you are not expected to bring your laptop to the ceremony. According to most sources we spoke to. Travel to field locations can be common depending on your position. Many agencies are headquartered in Washington. people with advanced degrees are hired at the GS-9 to GS-11 levels. The public service aspect is very satisfying. but have field offices scattered throughout the country. the philosophy is: “If we are the face of America to the outside world. pRoS & CoNS Pros • Satisfaction of serving your country • Opportunity to make an impact and introduce political change • Job security • Excellent benefits • Reasonable hours Cons • Lower pay than in private sector • Many jobs require relocation to Washington The federal government draws on a wide range of educational backgrounds. we should look like America on the inside. ThE CRowD Arrive at the office anywhere between 7 a.

long term care. life insurance.” ThE CompaNIES YoU NEED To KNow aboUT 4 . Myth: Government jobs are only for poli-sci and history majors. including Booz Allen Hamilton.C.GoVERNmENT • Bureaucracy • A lot of office politics • Washington D. The skills of an MBA are valued in government for the same reason they are valued in corporate America. Although most agencies are headquartered in metro Washington. Reality: The government has taken dramatic measures to modernize its recruiting and hiring processes. BearingPoint. Reality:The government requires diverse skills to carry out its many missions. Reality: Government experience is becoming increasingly valuable to corporate America. Myth: All government jobs are in Washington. As government oversight of business practices intensifies in the wake of corporate scandals. International assignments are prevalent in agencies like the State Department. actively recruit experienced government employees to fill highlevel senior positions. Department of Defense. flexible spending accounts • Child support services. rush-hour traffic bUZZwoRDS GREaT pERKS PMA: President’s Management Agenda RIF: Reduction in Force OMB: Office of Management and Budget PART: Program Assessment Rating Tool SES: Senior Executive Service Budget Cuts e-Government Procurement Scorecards mISCoNCEpTIoNS • Two-and-a-half to five weeks of vacation (depending on length of service) • Two weeks sick leave • Ten paid holidays • Flexible Work Schedules program (26 three-day weekends a year) • Superior benefits including health care. Many private firms serving the public sector. and Deloitte. they also have field offices throughout the country. We need more people who studied business. You can apply for jobs online. USAID. you’re in it for life. including child-care resources • E-scholar programs offering additional education opportunities Myth: Applying for a government job is a complicated and slow-moving process. D.and many others. Says one Foreign Service insider: “We have many people who studied history and public policy. Note that agencies with strict security clearance requirements have a longer process. Myth: If you take a job in the government. Reality: There are government jobs all over the world.C. many organizations will pay top dollar for someone from Washington’s inside track.

an annual rankings list produced by Entrepreneur magazine. “We are more concerned with a person’s debt-to-asset ratio.” Booth completed the application process and 18 months of training while still working full-time as a senior vice president at a bank. including location.000 to $400. do not franchise to individuals at all. The UPS Store. president and CEO of Cendant Corporation’s Days Inn hotel chain. identifies the world’s top franchises based on a number of factors including financial strength. “Do you have a passion for what drives the business? Do you know what the demands are. Real estate and development savvy is important. and home furnishings stores. which affects the level of financing required. aspiring franchisees fill out an online application and then interview with a franchise representative from the company. Cost Cutters. requires a liquid-assets level of $50. Friendly’s. what the hours are? Go work at a restaurant. “I always had the desire to own my own business. If you have an entrepreneurial mind. Others demand steeper initial investments. Cynthia Booth left a lucrative 18-year commercial banking career to become owner/ operator of five McDonald’s restaurants in the Cincinnati. Some are people who have simply grown weary of the corporate sector and want to take their shot at being the boss—while protected by the built-in brand infrastructure that comes with a franchise. A potential owner needs to have a certain net worth and liquid asset pool to get the business up and running. but many other businesses operate on the franchise system as well. Who are the owners of these outlets? There’s no easy answer.” says John Wuycheck. Dunkin Brands.” Friendly’s prefers operators who have multi-unit restaurant experience. and size. Baskin Robbins. “We look for a sophisticated individual or group that can meet and maintain this level of capital throughout the process. some business experience. including dry cleaners.INDUSTRY GUIDE [FRaNChISING] How many times have you stood in line at Dunkin’ Donuts. insiders at some of the world’s top franchises spill the beans on what it takes to be successful in their business. franchise sales manager at the company. says Alan Storry. tanning salons. Some organizations have fairly low costs: The UPS Store. oVERVIEw GETTING IN By definition. looks for a much bigger bank account: “Our minimum financial requirements include a net worth of at least $1.” says Sullivan. and type of franchise. you’ll need to have a net worth of $300. “Restaurants are unique—some people start working here in high school and just stay with it. too. Start-up costs at ice-cream purveyor Cold Stone Creamery range from $250. (Note: The mere fact that a company has a gazillion locations doesn’t mean it’s up for grabs: Some.000 with $100. anyway? And where do you sign up? Below. the company won’t eliminate someone who falls short. since they are expected to be thoroughly familiar with local markets. which operates Dunkin’ Donuts.” says Jim Sullivan. and Togo’s. Curves. Much of that. “The most enthusiastic applicants will typically go out and find the investment dollars needed to get started. and Pro-Cuts hair salons. Ohio. Organizations that operate multiple brands can often offer potential franchisees a range of options depending on their experience and financial position. “We’ll usually suggest third-party financing options. like Starbucks. It’s the only industry I know where you can start out as a dishwasher and end up as president of the company. for instance. Topping the 2006 list were Subway. such as Small Business Administration loans. While the minimum liquid assets are $125. in addition to the security deposit on the property’s lease.000. Cold Stone’s vice president of franchise development.000. and a healthy respect for established brands. can be financed in various ways. a hotel.5 million and liquid assets of $650. however.) The Franchise 500.000. “Before you get involved. growth rate. and exactly how rich is he or she getting.” To apply to be a franchisee for Regis Corporation. which operates Supercuts. others have only a high school diploma. on the other hand.000 in liquid assets.” says Debbie Heiser. a small wad of cash.” Step one of becoming a franchise owner is to do some serious homework on the company you’re interested in—and the industry in which it operates. or whatever and try it on for size.” advises Joseph Kane.” she says. area. “Since we have a 50 ThE CompaNIES YoU NEED To KNow aboUT . and Jackson Hewitt Tax Service. vice president of franchise and real estate development for Friendly’s. “I conducted extensive research on various opportunities. take a closer look. fitness centers. go work in the industry you’re interested in. Start-up costs vary significantly based on numerous factors.” Typically. has a separate strategy for each brand. the vice president of franchise development.000. a franchise is a business established or operated under an authorization to sell or distribute a company’s goods or services in a particular area. salivating at the thought of a Coolatta and wondering who’s getting rich off your obsession with frosty caffeinated drinks? Who is that someone. size. Most people associate franchises with food establishments like Pizza Hut or Burger King. “There is a whole gamut of people in our system. and McDonald’s had the most to offer me. Quiznos Sub. Some successful franchisees have a postgraduate degree.

Companies will often place candidates in an exist ing store location and evaluate on-the-job performance. like Friendly’s. for example. policies. the commitment will lessen. their location. perhaps the most important factor in this business is the recognition that at the end of the day. require substantial real estate knowledge in their franchisees. record keeping. the prototypes are smaller. Some franchises are more time consuming than others. etc. but will encourage interested parties to consult with existing franchisees in the same area. thus enabling them to receive a second source of income. the quality of your staff. “A true entrepreneur might find this business challenging. “During the awarding process. they’ll fill up but then down the road there will be an empty hotel because people who made reservations there couldn’t get to the destination. “In the hospitality industry. you’re part of a much larger organization.” says Storry of Regis Corporation. At some companies. While some companies. We handle all of the demographic research to make sure a site meets our criteria. So that hotel will have to lower rates to get more business in the door.” “Aggressive followers are the most successful in this business. “We expect most franchisees to be on site for Baskin Robbins. “In the Dunkin’ Donuts operation. so that people know what they are getting themselves into. earnings expectations. the bad. Successful applicants are subsequently given extensive training. So a smart team that recognizes change in the marketplace is the most successful. It can even vary by brand Besides an entrepreneurial spirit and business acumen. what next? Franchisors encourage their top owners to advance their position by expanding ownership to multiple locations. the cost of business in certain markets is very high. on the other hand. At McDonald’s we are not absentee owners. “As a franchisee you are buying the right to use a brand owner’s name. Usually.” says The UPS Store’s Heiser. this involves substantial off-site classroom experience. “We have a real estate group that will investigate every site that we recommend. The number of hours you work is dependent on several factors including the number of stores you operate. well before we recommend it. and the amount of energy and commitment you choose to put into the operation. Some companies allow franchisees to operate their businesses while keeping their day jobs. are good at business yet understand that they operate within franchise restrictions. ThE CompaNIES YoU NEED To KNow aboUT 51 .” says Days Inn’s Kane. and procedures. who can share financials and provide an indication of expected returns. many have a dedicated real estate department to identify prime locations for new stores. we focus on keeping the potential franchisee 100–percent informed. however. “We look to share the good. you would likely hire managers and an operations team to assist you.” says Cold Stone’s Wuycheck.” SUCCESS FaCToRS Different franchises require different levels of time commitment and on-site presence. On the Baskin Robbins side.” As with any business. and the cost of entry is lower. has applicants attend Cold Stone University in Arizona to learn accounting. and the ugly. As an applicant. franchisees learn how to write business plans. We also look for individuals or groups who can develop five or more stores right out of the gate. Our franchisees don’t have to do the legwork. “We feel that its a point of differentiation for us.” says McKee. secure financing. Our owners have to be able to deal with things like that. “Suppose it snows heavily tonight in one hotel’s area.” In general.” says Lynette McKee. “It’s a lot of hours. the operation process is easier. “Thirty percent of our stores are owned by multiple-center owners. They don’t try to go off on their own and do their own thing. adapting to change is very important.” Once you’re successful.” TImE CommITmENT within a company. but for Dunkin’ Donuts. So we don’t require our franchisees to give up their existing salaries. the company will review it and send out a Uniform Franchise Offering Circular—required by law—that details all the information about the opportunity. you can contact them to get their perspective and inquire about P&L statements. who says she is physically present in her restaurants almost daily. There is such a thing as being too entrepreneurial in this industry. At Dunkin Brands.FRaNChISING spectrum of options. we can look at where a potential franchisee might fit into the organization. so it makes sense to look for a larger financial statement. vice president of franchising.” remarks Booth. Aggressive followers. no day is the same. while McDonald’s boasts Hamburger University. a franchisor cannot disclose specific salary or revenue information.” says Heiser of The UPS Store. says Storry. Cold Stone. a worldwide management training center in Oakbrook. the company will also send you a contact list of other franchisees in the system. but as the business settles in and you hire the right people.” maKING ThE CUT When you fill out an application to become a franchisee. and the customer should not see where one starts and the other ends. Illinois. and make the transition from being a one-unit operator to a multiunit operator. “You must be able to follow the guidelines of the franchise.

52 ThE CompaNIES YoU NEED To KNow aboUT . I will never work behind the counter at my store. Myth: I don’t have a graduate business degree. REaLITY ChECK Myth: I will operate on my own terms independent of any authority. the Big Mac and the Egg McMuffin are both ideas that came from owner/operators. be sure to take advantage of the training programs that franchisors offer. Reality: This is a business. you do have accountability to a corporate body.” But done right. Reality: Most franchises do not have a minimum education requirement. the sooner supply runs short and he loses money. even when you’ve dotted all the i’s. In this way. but the more product goes out the door. It is important to understand up front how much on-site work will be required to be successful. Your ambition will take you where you need to go in this industry. there is always something else to think about. Myth: As an owner.INDUSTRY GUIDE Some companies even allow franchisees to play a role in the direction of the company. especially in areas like accounting and operations. I can pretty much let them run the show. Customers walk away happy. it can certainly buy you a substantial level of control over your future.” says McDonald’s franchisee Booth.” So will a franchise be your one-way ticket to boundless prosperity? As one insider puts it. Reality: Many franchise operations require an owner to have a very hands on presence. so I won’t be successful as a franchisee. Reality: As a franchisee. that in some cases will impose a strict set of guidelines within which you must operate. One ice cream concept franchise owner notes that his biggest issue is making sure his employees don’t put too much ice cream in each scoop. “In fact. “opening a franchise isn’t like buying yourself a vacation. with a support system that most other entrepreneurs don’t have when launching their ventures. That said. “Owner/operators often have a seat at the leadership table and can take part in the decision making process. Myth: Once I hire and train a good manager and employees. you are essentially promoting the brand of another company.

gambling in the U. And when Harrah’s acquired Caesars Palace. director of diversity recruiting at Harrah’s Entertainment: “We have a top-notch marketing program. In addition. as the industry broadens its entertainment scope. ThE CompaNIES YoU NEED To KNow aboUT 53 . A generation ago.A. Harrah’s also looks for talent in the retail sector: Merchandising experience prepares people for the company’s slot operations group. In the words of Russell Jolivet.” Jolivet cites Procter & Gamble and American Express as prime targets: Both companies have strong marketing programs. but the industry has changed—and broadened—its appeal. The razzle-dazzle building projects that revitalized the Las Vegas strip in the mid-’90s weren’t simply casinos with hotels attached. roulette wheels. not corporations. TRENDS and Casino. Sporting facilities also form a huge part of the industry’s new identity. The reasoning: These candidates have already benefited from the training offered by their previous employers.4 billion. for instance.000 employees. This is turn is creating a need for a new breed of employee. operates robust database marketing and customer relationship management programs. Jolivet says Harrah’s hired 20 MBAs in 2004-2005. The growth spurt transformed Vegas from a gambler’s haunt to a family-friendly vacation destination. A few months later. “We look for people who come from companies with rigorous development programs. but its 20 properties pale in comparison to Harrah’s 48 domestic. far beyond the state lines of Nevada. putting down stakes in locations across the country. gaming companies still draw hefty revenues from their slot machines. For instance. Today. just as drug and grocery stores do. MGM’s Primm Valley Resort Gaming companies have gotten aggressive in their business school recruiting efforts. nightclubs. but Atlantic City is right on its tail.GamING [GamING] oVERVIEw It’s no longer just about gambling. Vegas is still the number-one gambling destination.7 million visitors annually.” says Jolivet. The industry also grew geographically. And now that loyalty cards are a big part of casino marketing strategies. and many have set up summer internships for MBAs. and restaurants. Gaming companies still cast their lines into other industries. MGM Mirage has developed a program that places individuals in management-level positions after an intensive six-month training period. 2005’s $7. haute cuisine. “Individuals who have demonstrated success at top companies have great potential to succeed with us. And the Indian Gaming Regulatory Act of 1988. Vegas has now brought in the world’s best chefs to create restaurants at a culinary level—and price—that matches the haute cuisine destinations of New York and L. every state but Utah and Hawaii have legalized gaming—many of them licking their lips over tax revenues in Nevada and New Jersey. Sure. the range of job opportunities continues to grow. The Numbers Game. Chicagoland. is the site of one of the country’s best golf courses. Harrah’s. yielding reams of consumer data that makes the business much more analytical. Tunica/Lula MI. Similarly.9 billion merger of MGM Mirage and Mandalay Resort Group created an entity that controls nearly half of Vegas’s gaming space. And a series of mergers and acquisitions consolidated industry power in a handful of mega-players. the Venetian Hotel Resort Casino launched its Leadership Development Program last fall. retail veterans who’ve learned to analyze the data they produce have become valuable assets. and floating casinos. they were resorts and entertainment centers. (MGM Mirage may own Vegas. and Detroit all boast gaming activity in excess of $1 billion. in 2006 that number tripled to 60—many of them direct from B-schools. it picked up the Forum Shops—currently the most profitable retail space in the world. and sporting facilities as on games of chance. which recognized the right of tribes in the United States to establish gaming facilities on their reservations. with 2006 revenues of $5.” GETTING hIRED The Expanding Adult Playground.) The industry’s growth can be attributed less to gambling than to everything that comes with it: hotels. has resulted in 228 tribes operating 423 casinos in 28 states. which is aimed largely at MBAs as well as undergraduates majoring in hotel management. Traditionally a mecca for all-you-can-eat steam table grub.S. The higher stakes in the gaming industry require increasingly sophisticated strategies for marketing to consumers. for instance. and creating a worldwide entity with 100. showbiz extravaganzas. looking to land experienced talent from other business sectors. with as much emphasis on lavish spas. Growth Spurt. meant one place: Las Vegas. Harrah’s topped that by swallowing up Caesars Entertainment to the tune of $9. and we need top-notch employees to run it. Needless to say. international.2 billion. Harrah’s Entertainment has instituted a 10-week President’s Associate Intern Program for first-year MBA students. which seeks to maximize returns from limited floor space. both of which are numbers intensive and well suited to the MBA mindset. playing host to over 36. Casinos are adopting elaborate customer loyalty programs. and blackjack tables.

These aren’t investment-banking figures. The fourth area. we make an exceptional guest 54 ThE CompaNIES YoU NEED To KNow aboUT . marketing. hotel operations. “you had better expect to be working. In the words of Craig Abrahams. “If you need a change. but you get a much more interesting. and sales and revenue management. they’ll be looking for a few key attributes. vice president of human resources. and that requires us to have a staff that mirrors our customers. The general management track grooms people to run one of the company’s casinos.” MBAs hired into Harrah’s President’s Associate Program are likely to land in one of four main areas.200 guests checking into your hotel this weekend. How does this affect employees? Ayala maintains that work schedules remain reasonable. MGM Mirage surveys all company employees to gauge their satisfaction with the work environment. there is always somewhere to go in this business.” ThE hoURS It seems New York has a competitor for the title of “the city that never sleeps. the gaming industry offers enticements other than bottomline goodies. Harrah’s also hires MBAs for its planning and analysis and marketing tracks. At Venetian’s Leadership Development Program.INDUSTRY GUIDE ThE INSIDE TRaCK MBAs have a wide range of options available once they enter the gaming industry. Small wonder that they’re making an effort to foster diversity on staff as well. though: Be prepared to work at any time of the day or night. bring it!” Skilled managers might find themselves moving up the ladder more quickly in gaming than in other industries. restaurant. Rotating them through the various functional areas that feed into casino operations. “Each year. and nowhere is this truer than in Las Vegas. entertainment. the program trains associates in a wide range of skills needed to manage a property from top to bottom.” Another consideration: Gaming companies demonstrate a greater commitment to work-life balance than institutions on Wall Street. yeah. less traditional. food and beverage. financial services.” Casinos are a 24/7 operation. As the casinos continue to expand. Performance bonuses can range from 5 to 30 percent of base salary. Says MGM’s Ayala: “If you work hard. “If you are director of hospitality and you have 3. but for many MBAs. in our program we give them real responsibilities and deliverables so they get meaningful work experience. “It’s our ‘finishing school. in twoto three-month intervals. such as retail. “Hospitality is about mak- Regardless of where recruiters may find you. many go on to become directors and vice presidents in the organization.” he says. “If there’s a chance to be general manager in Chicago. “We want all of our guests to feel welcome. “It would be silly to move just within a location. and hospitality. people who have proven their competence can have an impact on the organization. Ace your interview by communicating these qualities: • Solid quantitative and analytical skills • Leadership • The ability to be a team player • Relevant work experience in key industries. But moving to the next career level may mean relocation. broader skill set and experience. gaming industry jobs don’t require a lot of travel.” says Sarah Cranston. which is responsible or 80 percent of the company’s revenues. “The results consistently indicate that both employees and the company really value work-life balance.” says Gerst.” Jolivet says.’” says Venetian’s Bob Gerst. where latenight clubs and all-night restaurants have emerged to accompany the all-night gambling. but undeniably crucial to the business.” moVING Up Recent MBAs entering the business can expect to earn a base salary somewhere around $90. through each of the company’s divisions—including casino operations.” QUEST FoR DIVERSITY For the most part. and work smart. heck. opportunities will present themselves. “It’s not going to pay what banking does. Most positions will keep you in place at a company’s Vegas headquarters. is slot operations. At the conclusion of the two years. or at one of the individual casinos. One fact of life. recruitment manager at MGM Mirage. “Unlike other programs where participants simply shadow more senior employees.” STaR QUaLITIES The casinos attract customers across the ethnic and racial spectrum. SaLaRY ing people feel welcome. Further opportunities lie in the areas of retail. “We don’t make a widget. a Harvard MBA who accepted a job at Harrah’s. and hospitality • Multitasking skills • Flexibility—both in terms of your work schedule and willingness to relocate • Most important: An affinity toward customer service. a UCLA Anderson School of Management MBA who now works as executive associate to the COO and CFO at Harrah’s.000.” says David Ayala. they increasingly demand good leadership. if an opportunity opens up in one of the company’s far-flung properties. new hires learn the ropes of the business by rotating.

GamING
experience,” Gerst says. “All it takes is one bad staff member to create one very unhappy guest.”
mYTh VS. REaLITY

Myth: Casinos are just fun places to work with no real professional job offerings. Reality: The gaming industry requires a wide range of business skills for its many job opportunities. Myth: I have to move to Las Vegas to work in the gaming business. Reality: Harrah’s currently operates 56 properties in the U.S. alone, and is expanding its presence in Europe, Asia, and the Caribbean. Less than half of the company’s employees are based in Vegas. MGM Mirage, through its subsidiaries, owns and/or operates 19 casino properties on two continents. Myth: Gaming is a male-dominated business. Reality: Gaming is no boys’ club. Harrah’s, for instance, makes half of its MBA offers to women.

ThE CompaNIES YoU NEED To KNow aboUT

55

COMPANY PROFILES

A to Z

bAIN & COMPANY

[A]
ACCENtuRE
Jungle Profile uRL www.accenture.com hEAdQuARtERS New York, NY PhONE 441-296-8262 MANAGEMENt William D. Green, Chairman and CEO dESCRIPtION

AStRAZENECA PhARMACEutICALS
Jungle Profile uRL www.astrazeneca-us.com hEAdQuARtERS Wilmington, DE PhONE 302-886-3000 MANAGEMENt Tony Zook, President and CEO dESCRIPtION

AStRAZENECA PhARMACEutICALS

AstraZeneca is the fifth-largest drug company in the United States. Its pharmaceutical treatments focus on cardiovascular, gastrointestinal, neuroscience, oncology, and respiratory areas.

AMERICAN AIRLINES

Accenture is the world ’s largest management and technology consulting firm, offering business and technology consulting services across 18 industry groups. Accenture services areas such as enterprise integration, human resources, strategic planning, and supply-chain management.

AMERICAN AIRLINES
Jungle Profile uRL www.aa.com hEAd QuARtERS Ft. Worth, TX PhONE 817-963-1234 MANAGEMENt/OFFICERS Gerard J. Arpey , Chairman, President & CEO dESCRIPtION

[b]
bAIN & COMPANY
Company Profile uRL www.bain.com AddRESS 131 Dartmouth St Boston, MA 02116 PhONE 617-572-2000 FAx 617-572-2427 INduStRY Consulting Strategic/Mgmt Consulting IT Consulting

ACCENtuRE

American’s Passenger division is the largest scheduled passenger airline in the world. American provides scheduled jet service to destinations throughout North America, the Caribbean, Latin America, Europe and the Pacific, serving 172 cities with a fleet of 840 aircraft.

56

thE COMPANIES YOu NEEd tO KNOw AbOut

b
MESSAGE tO MbA CANdIdAtES

Joining Bain & Company presents an unparalleled experience. You’ll become part of a culture of intelligence, integrity, ambition and high energy, and you’ll get the chance to make a difference. Along the way, you’ll also learn how to help make companies more valuable. We offer accelerated learning—you’ll be able to gain exposure to a diverse set of experiences and be empowered to take on as much as you can handle. Our flexible and enriching environment will allow you to pursue your passions and proactively shape your own career. At Bain, you will find a unique, results-focused culture and passionate people who are as dedicated to making an impact outside of work as they are inside. And our powerful, diverse alumni network will serve you in whatever you decide to do at or after Bain.
dESCRIPtION OF hIRING PROCESS

join) to see if your school has a specific application process. If your school does not appear or does not have a specified application process, please apply using our online application: www.bain.com/apply.
ON-CAMPuS EvENtS CALENdAR

www.bain.com/join
GENERAL INtERvIEw AdvICE

Bain recruits at a variety of undergraduate and graduate schools both in the U.S. and internationally. Undergraduates join Bain as Associate Consultants while MBA graduates, PhDs, and other candidates with advanced degrees join Bain as Consultants. Bain also recruits directly from the industry, seeking professionals with rigorous, relevant experience. As new Bain employees, experienced hires have the same training, promotion and work opportunities available to any of our professional staff. Bain’s interview process involves a combination of case, experience or combined case/experience interviews. We value the case interview process as a means for us to get to know each other better. It is a chance for you to show us how you think through a real business problem and for us to give you an example of the kinds of work we see everyday. For this reason, our interviewers prepare their interviews based on real cases and tend not to rely on brainteasers or theoretical problems. You’ll be expected to walk the interviewer through the key issues and propose a practical solution. In addition to the case interview, you may have an experience interview in which the interviewer will use traditional resume questions, a mini-case based on your experience and/or behavioral questions to understand your past experience and gain an understanding of your interest in Bain. The behavioral questions ask you to describe your actions in a past experience in the context of a critical consultant skill.
hOw tO APPLY

The most important interview advice is to relax and be you. Bain’s interview process involves a combination of case interviews and experience interviews. For your interview, you may have separate case and experience interviews or a combined case/experience interview. A good case interview should be an enjoyable and thoughtful discussion of business issues and problem-solving techniques. We are not looking for a “right answer” or asking you to regurgitate memorized business terms, current events or well-known frameworks. Rather, we hope to see a good dose of problem-solving skills, creativity and common sense. At Bain, we look for recommendations that are actions designed to generate results, not merely academic answers. A good interview will be fun and full of energy!
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bAIN & COMPANY

We look for candidates who exhibit a high degree of enthusiasm and motivation for learning and solving difficult business issues; additionally, success at Bain requires an exceptional combination of abilities: • Structured logical thinking, sound business judgment, analytical mindset, creative thinking, and a dedication to achieving results • Client and team people who are passionate and driven, natural leaders, team players, articulate, down-to-earth, and have a strong interest in Bain.
COMMON INtERvIEw QuEStIONS

There are no common interview questions. We use case interviews in all of our interview rounds. Cases reflect real business problems. Case interviews last anywhere from 30 to 45 minutes. You can also expect some experience questions that investigate your prior work, team and/or leadership experiences, as well as your interest in Bain.
MESSAGE tO INtERNAtIONAL StudENtS

Bain actively recruits at a number of colleges and universities around the globe. Before you apply, please review your college/university pages on our website (www.bain.com/

Bain is a global company, with 37 offices in 24 countries. We encourage students from all countries to apply. We also offer temporary and permanent transfer opportunities within our global network. Consultants in all of our offices worldwide should be proficient in English, since many of

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we define ourselves as being in the results business. Bain trains consultants to make companies more valuable. giving them the opportunity to be the best they can be. In other words. intelligence and flexibility. Our passion for achieving results for our clients continues to drive our firm. We can claim these results only because of the quality of our people. After its humble beginnings. we will take equity in lieu of fees. Our management team represents a contemporary perspective that values passion. tangible results to our clients. We work with senior executive teams to convert opportunity into action. Founded in 1973 on the principle that clients should get results—not just reports—from their consultants.even when it means recommending actions that senior management might not want to hear. we are 3. We are so passionate about our clients’ success that. CORPORAtE MISSION ANd/OR StRAtEGY goes. In all. We emphasize practical recommendations and how to make them happen. diversity. • Learn how to make an actual impact.” True North is our focus on client results . has grown to be one of the world’s leading business consulting firms because we always deliver for our clients. Our unique approach enables us to secure sustainable. to develop and train.700 individuals from varied backgrounds working in 37 offices in 24 countries. practical approach we take provide unparalleled opportunity for our employees. Excellence is achieved through diversity. Our business is helping to make companies more valuable. The firm’s first office was in Bill Bain’s Beacon Hill apartment in Boston. At Bain. Bain clients historically have outperformed the stock market by 4:1. hOw/whY wE ARE dIFFERENt At Bain. Under Bill Bain’s guidance. regardless of their differences. which is why we want people from diverse backgrounds on our teams. We’re committed to making Bain a place where all people have the chance to succeed. but is unreliable because Magnetic North changes with time and location. True North is a navigational point on a gyro compass— an unchanging point of reference and grounding. long-term results. People join Bain with various personal and professional experiences and passions—from classically trained musicians to Olympic athletes. OvERvIEw OF OuR COMPANY Bain & Company. where appropriate. and the innovative. We celebrate impact. and private equity firms build ongoing value. We actively support minorities at Bain with both formal and informal groups like Women at Bain. San Francisco.COMPANY PROFILES our clients work with us on a global basis. emerging businesses. We focus on full potential improvements. Hire non-US citizens: Yes Sponsor for H-1B visas: Yes MESSAGE tO wOMEN/MINORItIES bAIN & COMPANY Bain is an Equal Opportunity Employer and strongly encourages all individuals to apply for all positions. and Milan. We operate with a sense of urgency. Munich. The range of our experience.700 employees serving clients through an impressive network of 37 offices across 24 countries. Our obsessive focus on results is apparent not only in how we run our client engagements but also in how we evaluate ourselves as a firm and individual professionals. Accomplishing our mission requires that we navigate with a sense of “True North. and action into economic performance. We measure our success by our clients’ results. despite shifting conditions and turbulent environments. We were founded upon a relentless focus to deliver results. the caliber of our clients. • Collaborate with clients and acquire hands-on experience 58 thE COMPANIES YOu NEEd tO KNOw AbOut . We worry less about how well a given presentation Bain delivers real. not incremental change. not intellectual elegance or activity. Today Bain has 3. Paris. Blacks at Bain (BABs) and the Bain Gay and Lesbian Association for Diversity (BGLAD). • Gain exposure to a diversity of industries. Bain has helped industry leaders. the firm continued to expand and quickly created branches in Boston. True North never wavers. Inc. we prosper only if our clients prosper. Collectively. types of clients and capabilities. An ordinary compass finds magnetic North easily. London.600 clients from every sector in every region of the world. We strive to recruit people with exceptional talent and ability. the company soon outgrew its space and moved to Lewis Wharf. We also offer an unparalleled learning experience where the diversity and pace of learning is truly unique. lasting financial impact. COMPANY hIStORY Bill Bain founded Bain & Company in 1973. than about long-term client change and impact. an old dock warehouse. We work with companies to beat their competitors and generate substantial. we’ve found that the best solution to a complex problem often comes from a different perspective or a fresh point of view. we have served more than 3. We work with a select group of change-oriented leaders who are not satisfied with the status quo.

Our culture is one of opportunity. we select people with intelligence. Chairman of the Board Steve Ellis. but also value our diverse interests outside of work. individuals drive the richness of our culture. It provides the flexibility to pursue your passions and shape your career while at Bain. you’ll be a part of high–energy case teams made up of individuals who are passionate about their work and committed to delivering tangible results for their clients. and private equity firms build ongoing value. Bain has helped industry leaders. thE COMPANIES YOu NEEd tO KNOw AbOut 59 . but also down to earth. Our culture is strong and cohesive because consultants spend more time working from their Bain offices.b with numerous business problems. And we promise to have fun along the way. We develop deep. integrity. At Bain. but we also value work-life balance. enduring relationships with each other and our clients. Bain is truly a global firm with more than 50 percent of revenue coming from outside North America. We only travel to the client when it is necessary. Our teams are supportive and collaborative. We are continuing to build the scope and scale we need to help our global clients achieve results. friendly and approachable. Worldwide Managing Director CLIENtS/INduStRIES SERvEd At the heart of Bain culture is our relentless focus on results. Bain people work in 37 offices in 24 countries around the world. emerging businesses. We strive to make a difference in everything we do. dESCRIPtION OF GLObAL PRESENCE • Technology • Telecommunications • Transportation Services FOuNdING PRINCIPLES Founded in 1973 on the principle that clients should get results – not just reports – from their consultants. • We are highly competitive for our clients. MA MANAGEMENt/OFFICERS Orit Gadiesh. Bain is a great place to work. eager and driven. pushing ourselves to make things happen. • We also value our diverse interests outside of work. Bain is truly a global firm with more than 50 percent of revenue coming from outside North America. • We are down to earth. Bain is comprised of individuals with unique backgrounds and interests. In the last 18 months. Bain people share common attributes that help drive our unique culture. • We enjoy what we do and we laugh a lot If you join Bain. • Develop a unique and transferable skill set to help you achieve your career goals. and approachable. Our people are talented. passion and the ambition to make a difference. hOME OFFICE LOCAtION Boston. • We are passionate and impatient. Bain’s enriching environment encourages people to achieve their best. we have opened six offices. While our people hold common goals. • Take on as much as you can handle to maximize your learning experience. • We like working with each other. AbOut OuR PEOPLE bAIN & COMPANY Bain’s primary capability areas include the following: • Change Management • Corporate Strategy • Cost & Supply Chain Management • Customer Strategy & Marketing • Growth Strategy • Information Technology • Mergers & Acquisitions • Organization • Performance Improvement • Private Equity Industries we serve include: • Automotive • Consumer Products • Energy & Utilities • Financial Services • Healthcare • Industrial Products • Media • Mining • Nonprofit & Public Sector • Retail • Services Our people are our strongest asset. We like working with each other. And make a lasting impact. dESCRIPtION OF OFFICE CuLtuRE Bain has 37 offices in 24 countries across 6 continents. friendly. but very supportive with each other. The best way to fit in is to be yourself. We enjoy working together.

Full time associate consultant positions are available to undergraduates. India. net income for the company is up 30X. Belgium. only students between their third and fourth year of college/university study and first–year MBA students are considered for summer intern positions. and performance of new representatives was well below competitors’. 1 best in diversity: GLBT. 1 best in formal training.COMPANY PROFILES AwARdS wON COMMON u. TX COMMON INtERNAtIONAL hIRING LOCAtIONS Australia. training and retention. Technology: A leading computer manufacturer was in decline and needed advice to stay on top of the industry. No. and competitors were challenging its market dominance. and college/university students apply for Associate Consultant internships. Stiff competition was eroding market share of its formerly profitable product lines. Bain was asked to develop a strategy to stop the financial meltdown and restore the company to high growth. 1 best firms to work for.Australia & New Zealand” (2005-7). Financial Services: A financial services company needed to improve the quality of its sales force to successfully expand its product line and increase its assets under management. Results: Since Bain’s involvement. Brazil. Mexico. 1 place to work in the UK (2006). 2004. Its stock price had plummeted by 50 percent in 12 months. Bain recommended a hybrid strategy to acquire top corporate accounts and restore profitability through cost reduction. France. No. including market situation of each product. the recruiting season for interns is in the winter and early spring (beginning of second semester or session for Consultant candidates and mid-semester or late third quarter for Associate Consultant candidates). MA. Capital recognized Bain No. Bain was asked to help optimize regional management practices for employee recruiting. Finland. hIRING LOCAtIONS bAIN & COMPANY Bain has received global recognition as a great place to work. Germany. No. Bain ranked No. 1 in Consulting magazine’s “The 10 Best Firms to Work For” again for 2007. 1 best in relationship with supervisors. Spain (2005). Japan. 1 best in overall diversity. 1 in Germany.” • Fortune recognized Bain as one of the “100 Best Companies to Work For. 1 best in overall satisfaction. other graduate and PhD programs. 1 best in firm culture. Here are a few recent examples of Bain’s 3rd party recognition: • Bain ranked No. 1 in 2003. MBA students apply for Summer Associate internships. USA dESCRIPtION OF tYPICAL PROjECt Projects vary widely by industry. Bain recommended repositioning the company as the producer of high-end. Canada. Bain conducted a detailed analysis of the company’s portfolio of products. Select examples of representative client engagements include the following: Consumer Products: A frozen food company had lost its edge. Russia. Internship interviews follow the same process as full-time hire candidates with two rounds of interviews. To anchor this strategy. 1 place to work in France (2005.bain. Belgium (2006). No. 1 in several categories in Vault’s “2008 European Consulting Firm Rankings”: No. Switzerland. Korea South.” • Financial Times ranked Bain No. additional advertising resources were suggested. No. Italy. GA. level of advertising and promotional spending. • Boss magazine and Hewitt Quarterly ranked Bain “Best Employers .com/join LINK tO RECENt NEwS www. • Business Week named Bain as one of the “Best Places to Launch a Career. and 2007 (Note: the publication did not rank firms overall in 2005. as well as experienced industry hires. Usually. SuMMER POSItIONS (INtERNS) Each Bain office has its own requirements for internship candidates. Typically. No. UK. and category financial performance. The Bain team conducted an internal and external review of best practices to maximize the value of www.bain. • Best Place to Work Institute recognized Bain No. China. NY. No. higher margin ice cream products. IL. and share price is up more than 50X. Results: By implementing this strategy. The client’s sales force had serious problems. Hong Kong. Singapore. 2006. LINK tO EMPLOYEE PROFILES CA.S. Ukraine. functional area. 1 best in diversity: women. No. Sweden.com FuLL-tIME POSItIONS Bain offers full–time consultant positions to students graduating from business school. 60 thE COMPANIES YOu NEEd tO KNOw AbOut . Spain. life stage of the company and geography of our clients. Bain was asked to help restore the company’s financial health and market share.) • Bain ranked No. South Africa. 2006). the company reversed its market share decline and generated a significant $200 million increase in net present value. 1 best in work/life balance. United Arab Emirates. Netherlands.

b
each sales recruit. Adopting chosen best practices allowed fewer people to be hired, but created a more valuable class of sales recruits. Results: By achieving best demonstrated practices in all regional offices, the company more than doubled the net present value of its sales force, resulting in assets under management to be 50 percent higher than forecasted. These successes lead to significant stock price growth.
PROFESSIONAL CAREER PAth AddRESS 100 North Tryon Street Charlotte, NC 28255 PhONE 704-386-7263 MESSAGE tO MbA CANdIdAtES

Our flexible culture allows you to pursue your passions and shape your own career while at Bain. You’ll receive the necessary support to tailor your career path through ongoing training, mentoring, and feedback. MBA graduates and most other candidates with advanced degrees who have rigorous, relevant business and analytical experience join Bain as consultants. Consultants begin to manage teams at approximately the two-year point. The typical timeframe for promotion from consultant to manager is two and a half to three and a half years. The road to partner from manager takes approximately three to five years, depending on performance. Associate consultants (ACs) generally join Bain directly after graduating college or university with a Bachelor of Arts, or similar degree. Senior associate consultants (SACs) are often outstanding associate consultants who are promoted after about two years as an AC. The path to consultant from AC is approximately three to four years, with many individuals spending additional time in business school. Bain offers employees full and, in some circumstances, part-time employment opportunities.
bENEFItS SuMMARY

In return for your talent, we offer outstanding career opportunities and advancement and we promote a healthy work/life balance through special benefits and programs. Bank of America is proud to be a leader in supporting diversity and has been widely recognized for its progressive workplace practices and initiatives to promote inclusion. Currently ranked as one of Universum Communications’ “Top Ten Ideal MBA Employers”, Bank of America strives to empower all associates to excel on the job and to reach their full potential, and we reward and recognize associates based on performance and results.
dESCRIPtION OF hIRING PROCESS

Bank of America’s hiring process includes a series of practices in an effort to get to know you, your skills and your interests. We incorporate behavioral-based interview questions to give you an opportunity to provide real-life examples of your experiences. During this time, we focus on looking for core competencies that are essential for success in your chosen area of interest. This information sharing comes through a variety of events such as resume and phone screening, first-round interviews and on-site interviews.
hOw tO APPLY

bANK OF AMERICA

Please visit our careers sites, www.bankofamerica.com/collegerecruiting to view jobs and apply online.
MESSAGE tO wOMEN/MINORItIES

Bain makes available to its employees (and any eligible dependents) participation in many attractive benefit plans including medical, dental, long-term disability, life, and business travel accident insurance. Employees may also participate in a 401k program with a company sponsored contribution.

bANK OF AMERICA
Company Profile

We are proud of Bank of America’s legacy as a leader in corporate diversity and in equal employment opportunity. At Bank of America, we work to foster an inclusive corporate culture and an environment free of discrimination or harassment. Our inclusive culture has been recognized by several magazines including; Fortune, Working Mother and Latina Style. As further evidence of its commitment to diversity and inclusion, Bank of America hosts a number of affinity groups, diversity business councils and diversity networks.
OvERvIEw OF OuR COMPANY

uRL www.bankofamerica.com tICKER BAC

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other

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COMPANY PROFILES
financial and risk-management products and services. The company provides unmatched convenience in the United States, serving 57 million consumer relationships with more than 5,700 retail banking offices, more than 17,000 ATMs and award-winning online banking with more than 22 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 85 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
bEAR StERNS COMPANY hIStORY

Consumer and Small Business Products Global Treasury Services Investment Banking Marketing Personnel Sales Technology Service & Fulfillment Trading Quality and Productivity Research
SuMMER POSItIONS (INtERNS)

bAYER hEALthCARE CONSuMER CARE dIvISION

Many legacy companies, some dating back as far as the 1700s, are part of Bank of America’s long history which is marked by significant achievement, vision, and ingenuity. Our achievements include the financing of thousands of movies, including “It’s a Wonderful Life” and “Gone with the Wind,” and financing construction of San Francisco’s Golden Gate Bridge. Later we established the first nationally accepted credit card and the first nationwide ATM network. In 2004, Bank of America pledged an unprecedented $750 billion over a ten-year period for community development lending and investment.
MANAGEMENt/OFFICERS

Commercial Banking, Consumer Banking, Consumer and Small Business Products, Finance, Global Treasury Services, Investment Banking, Sales, Technology Service & Fulfillment, Trading, Quality and Productivity, and Research

bAYER hEALthCARE CONSuMER CARE dIvISION
Jungle Profile uRL www.bayermbarecruiting.com PhONE 973-254-5000 OFFICE hEAdQuARtERS Morristown, NJ MANAGEMENt Werner Wenning, Chairman of the Board, Bayer AG Dr. Attila Molnar, President and CEO, Bayer (US) dESCRIPtION

Ken Lewis, Chairman, Chief Executive Officer and President
dESCRIPtION OF OFFICE CuLtuRE

At Bank of America, we respect and value not only differences related to race, gender, ethnicity, disability and sexual orientation, but also diversity of viewpoint, experience, talents and ideas. We strive to empower all associates to excel on the job and reach their full potentials, and reward and recognize associates based on performance and results. Because our associates all bring unique talents to their jobs, Bank of America’s pay-for-performance culture fully encourages their contributions. We offer every associate the chance to earn a performance incentive, with the best performers realizing the greatest rewards. We help associates understand how their work supports the business, and how their performance affects their pay. We’ve strengthened this culture by implementing a multi-phased performance management process and offering managers tools and training to facilitate pay decisions.
FuLL-tIME POSItIONS

The Consumer Care Division of Bayer HealthCare LLC, is among the largest marketers of over-the-counter medications and nutritional supplements in the world.

bEAR StEARNS
Jungle Profile uRL www.bearstearns.com PhONE 212-272-2000 hEAdQuARtERS New York MANAGEMENt James E. Cayne, Chairman and CEO

Commercial Banking Consumer Banking

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dESCRIPtION

Bear Stearns is a top investment banking, securities trading and brokerage firm with an emphasis on capital markets, wealth management and global clearing services.

bOStON CONSuLtING GROuP
Jungle Profile uRL www.bcg.com hEAdQuARtERS Boston PhONE 617-973-1200 MANAGEMENt Hans-Paul Bürkner, president and CEO dESCRIPtION

bOEING

Jungle Profile uRL www.boeing.com OFFICE hEAdQuARtERS Chicago PhONE 312-544-2000 MANAGEMENt W. James McNerney, Chairman, President and CEO dESCRIPtION

bOEING bOOZ ALLEN hAMILtON

Boston Consulting Group is an international strategy and general management consulting firm which operates on six continents. The firm offers clients expertise in a wide range of sectors including retail, energy, health care and media and entertainment.

Boeing is a top aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined, with capabilities in rotorcraft, electronic and defense systems, missiles, satellites, launch vehicles and advanced information and communication systems. As the No. 1 U.S. exporter in terms of sales, Boeing’s customers are located in 145 countries.

bRIStOL-MYERS SQuIbb
Company Profile uRL www.bms.com tICKER BMY AdddRESS P.O. Box 4500 Princeton, NJ 08543-4500 PhONE 609-897-2000 CONtACt Maureen Varela, Manager, University Relations whAt’S NEw

bOStON CONSuLtING GROuP

bOOZ ALLEN hAMILtON
Jungle Profile uRL www.boozallen.com OFFICE hEAdQuARtES McLean, VA PhONE 703-902-5000 MANAGEMENt/OFFICERS Dr. Ralph Shrader, Chief Executive Officer dESCRIPtION

bRIStOL–MYERS SQuIbb

Focus on 10 disease areas: atherosclerosis/thrombosis, psychiatric disorders, Alzheimer’s, diabetes, obesity, cancer, rheumatoid arthritis, solid organ transplant, HIV/AIDS, and hepatitis.
MESSAGE tO MbA CANdIdAtES

Booz Allen Hamilton, a leading strategy and technology consulting firm, has been at the forefront of management consulting for businesses and governments for more than 90 years. With over 19,000 employees on six continents, the firm generates annual sales of $4.1 billion. Booz Allen provides services in strategy, organization, operations, systems, and technology to the world’s leading corporations, governments and other public agencies, emerging growth companies, and institutions.

Bristol-Myers Squibb’s (BMS) mission is to extend and enhance human life by providing the highest-quality pharmaceuticals and health care roducts. Our medicines are making a difference in the lives of millions of customers across the globe. By living our mission and growing our company for well over a century, we are making a difference in the lives of our shareholders, employees, and neighbors. We affirm our commitment to foster a globaly diverse workforce and a companywide culture that encourages

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and a commitment to integrity. and a balance between our personal and professional lives. ConvaTec. We affirm our commitment to foster a globally diverse workforce and a companywide culture that encourages excellence. The program will feature: • An orientation.com in addition to following the standard process at your business school Career Services Department. innovation and a balance between our personal and professional lives. Documents establishing current employment authorization must be provided upon employment. focus groups. CORPORAtE MISSION ANd StRAtEGY Candidates for Masters in Business Administration degree only. is responsible for such brands as Enfamil. Candidates interested in being considered for a campus interview should apply online through our website at www. And by living our mission and growing our company for well over a century. hIRING PROCESS • Exposure to senior management through business speaker series sessions. general management. COMPANY hIStORY bRIStOL–MYERS SQuIbb Bristol-Myers Company was founded in 1887. work on challenging assignments. 64 thE COMPANIES YOu NEEd tO KNOw AbOut . M/F/V/D. Check with your Career Services offices for interview dates and resume submission deadlines. The ideal candidate will have had functional exposure and experience to marketing. we are making a difference in the lives of our shareholders. MESSAGE tO wOMEN/MINORItIES Bristol-Myers Squibb Company is an equal opportunity employer. and communication abilities. competitive environment requiring adaptability is a plus. products and brands. Leadership potential is highly valued. research and development labs.S. market plans. Mead Johnson and ConvaTec also provide opportunities for MBAs. U. elaboration of marketing communication materials to sales force and customers. BMS also has positions for MBAs in Finance and Information Management. and cardiovascular illnesses. the two companies merged. Strong interpersonal skills including the ability to influence others and work effectively in a matrix organization are essential. We acknowledge our obligation to provide able and humane leadership and a clean and safe work environment. • Formal review and feedback sessions with managers. hOw wE ARE ORGANIZEd Bristol-Myers Squibb operates with an integrated ONE BMS strategy. Our employees work in offices. AIDS. manufacturers and sells world-renowned prescription products for a variety of diseases including cancer. Nutritionals Group. professionalism and teamwork is required. and Bristol-Myers Squibb Company has continued to grow ever since. learn about BMS. contacts) to determine customer needs. Work experience in a results-driven. employees and neighbors as well. Other requirements include excellent strategic. research and development labs. Worldwide Pharmaceuticals develops. Summer Associates will receive priority in the full-time offer process. determination of appropriate pricing strategies. leadership. The Immigration and Control Act of 1986 requires that employers verify employment authorization and identity of potential employees. Our medicines are making a difference in the lives of millions of customers across the globe. and meet company representatives. bms. plans of action and execution of tactical programs. creative. manufacturing plants and distribution facilities located in almost every country around the world. Our employees work in offices. All Summer Program Interns will participate in one 10-week placement within a Marketing. Bristol-Myers Squibb is an Equal Employment Opportunity employer. promotional strategies and field inventory development and evaluation of market research studies (surveys. BMS has been hailed year after year as one of the best companies for working mothers. We acknowledge our obligation to provide able and humane leadership and a clean and safe work environment.COMPANY PROFILES excellence. Bristol-Myers Squibb’s (BMS) mission is to extend and enhance human life by providing the highest-quality pharmaceuticals and health care products. and Global Marketing are highly-selective divisions geared toward students interested in gaining valuable experience in marketing. sales and/or financial analysis. Assignments may include: production of business plans. innovation. The program is organized to ensure Summer Interns gain valuable industry and functional experience. manufacturing plants and distribution facilities located in almost every country around the world. Squibb Corporation traces its roots to 1858. including an overview of company structure. makers of ostomy and wound care products. • A formal mentor program. Finance or Information Management Team. • An introduction to the Divisional Excellence Programs. strategy and sales of pharmaceutical products. which encompasses Mead Johnson Nutritionals. analytical. leadership. Our family of companies. • Team building/networking events. conceptual. Associates will be instrumental in assisting in the development of marketing strategies. In 1989.

asp dESCRIPtION OF hIRING PROCESS Australia. You will be seeing us on campus through presentations.com tICKER CPB AddRESS 1 Campbell Place Camden. MESSAGE tO wOMEN/MINORItIES The label may look the same—one consumers have known and trusted for 135 years—but when you open the lid on the Campbell Soup Company you find a fresh. For internships. Campbell’s president and chief executive officer.campbellsoupcompany. hOw tO APPLY CAMPbELL SOuP COMPANY If we don’t visit your campus. Its At Campbell. If there appears to be a fit after the interview for a full-time position. campus events and interviews.S. Campbell’s continually relies on the ideas. check with your school’s career services office or the Campbell website. NJ 08103 PhONE 856-342-4800 INduStRY Manufacturing whAt’S NEw Campbell visits the country’s top business schools each year. MESSAGE tO MbA CANdIdAtES Lawrenceville. Over the past three years. NJ MANAGEMENt Jim Cornelius. If you do not hear back from career services. Spain. Conant. we define diversity as the vast array of human differences and similarities.com/career_ development. U.K. please visit our web site at careers.000 employees. In order to compete and succeed in a changing marketplace we must cultivate and embrace a diverse employee population that fuels our growth and enriches our global culture. NY COMMON INtERNAtIONAL hIRING LOCAtIONS As a world leader in consumer products. the company made significant progress in its “Transformation Plan” effort. inclusive of everyone. Belgium.” thE COMPANIES YOu NEEd tO KNOw AbOut 65 . Under the leadership of Douglas R. To find out when we’ll be on your campus. In order to keep our management and our perspective fresh. we will conduct all of our interviews on campus in the early spring. Campbell rolled out an aggressive. Canada. Brazil. comprehensive strategy for long-term growth. MA. CEO COMMON u. hOME OFFICE LOCAtION plan for 2005-2007 builds on its progress to leverage and accelerate its growth. As part of our Campbell’s vision. [C] CAMPbELL SOuP COMPANY Company Profile uRL www. “Together We Will Do Extraordinary Things in the Workplace and Marketplace. China. you will be invited to our headquarters in Camden.com/careers_campus. NJ. For more information on our development programs. please contact your career center to obtain a slot on our open list. new mix of management priorities and strategies that should propel growth into the new century. we offer training programs for recent graduates We look for finance and marketing MBAs to fill our Associate Brand Manager and Senior Financial Analyst positions. for a full day of second-round interviews. Germany.C GLObAL PRESENCE Bristol-Myers Squibb has facilities around the world with 43. please visit: careers.campbellsoupcompany.com ON-CAMPuS EvENtS CALENdAR careers.campbellsoupcompany.asp ON-CAMPuS INtERvIEwS Your career services office will notify you if you have been selected for our closed list. Italy. hIRING LOCAtIONS CT. energy and innovations of new team members as we continue to grow. N.campbellsoup. Japan. France. J. We rely heavily on the success of our internship program to fulfill the majority of our full-time needs.

cia. hOME OFFICE LOCAtION With more than 75. Northern Europe and Asia Pacific and Central and Southern Europe.J. The younger Dorrance soon discovered a process for condensing soup that reinvented the company.campbellsoupcompany. the CIA is a civilian agency which serves to advise the president of the United States on matters of intelligence and national security. Pace Mexican sauces.000 full-time employees worldwide ably support the company. consumer products. the company eliminated the water. The company is 135 years old. manufacturing. N. biscuit. and we strive to bring this to life in our daily work environment. talents and teams to meet this business challenge.com/media_relations. energy. Director dESCRIPtION Camden. chemical. outsourcing. We must have diverse perspectives. sauce. and is overseen by Congress.S.gov OFFICE hEAdQuARtERS Washington. breads and frozen products. CAPGEMINI CENtRAL INtELLIGENCE AGENCY Jungle Profile uRL www. By condensing the soup. LINK tO RECENt NEwS www. Campbell’s North American brands include Campbell’s soups. Both had retired by 1897.S. NJ dESCRIPtION OF OFFICE CuLtuRE Our Campbell Promise reinforces the slogan Campbell Valuing People. ideas and experience than at Campbell Soup Company. and storage. and Consumer Insights Intern COMMON u.com OFFICE hEAdQuARtERS Paris. PhONE 703-482-0623 MANAGEMENt General Michael V. and media. and popular ad campaigns featuring the Campbell’s kids combined to make the company an all American success story. Expertise is offered in a range of sectors including automotive. For more information on the company. confectionery. Swanson broths. when new chief officer Arthur Dorrance reluctantly hired his nephew. U. CEO of North America Projects and Consulting dESCRIPtION CENtRAL INtELLIGENCE AGENCY In 1869. and Prego pasta sauces.capgemini. and prepared food products. Capgemini is an international firm in the consulting.campbellsoupcompany. Capgemini’s regional operations include North America. Campbell’s lower prices. COMPANY hIStORY CAPGEMINI Jungle Profile uRL www. It does so by gathering and analyzing information about foreign governments. Brand Marketing Intern. D.COMPANY PROFILES our commitment to building and strengthening teams has the greatest focus of our leadership.asp FuLL-tIME POSItIONS Associate Brand Manager Senior Financial Analyst Created by Harry S. eye-catching packaging (inspired by Cornell University’s football uniforms after a company exec attended one of the school’s games). People Valuing Campbell. You won’t find a better place for your talent. and people. Hayden.com. V8 Splash juice beverages. beverage. shipping. and local professional services. with more than $7 billion in annual sales and a portfolio of more than 20 market-leading brands. crackers.C. drastically reducing costs for packaging. hIRING LOCAtIONS NJ Campbell Soup Company is a global manufacturer and marketer of high-quality soup.us. fruit merchant Joseph Campbell teamed up with icebox manufacturer Abraham Anderson to found a canning and preserving business in Camden. corporations. Truman in 1947. visit Campbell’s website at www. headquarters in New York PhONE 212-314-8000 MANAGEMENt Salil Parekh.000 employees. technology. chemist John Dorrance. More than 24. Pepperidge Farm cookies. V8 vegetable juices. 66 thE COMPANIES YOu NEEd tO KNOw AbOut . OvERvIEw OF OuR COMPANY SuMMER POSItIONS (INtERNS) Financial Intern.

hOw tO APPLY CItI At a firm that is often at the forefront of redefining the industry. In a corporate environment that embraces a multitude of cultures. We know the success of Citi lies in the success of our people. the excitement of the trading floor. NY 10013 PhONE 212-816-6000 CONtACt Debbie Bertan. Further. globally oriented teams. Allowing our recruits a broader range of experience and the ability to effect change. teamwork and creativity are prized and cultivated. Managing Director. and a sense of humor. They are usually members of the school’s recruiting team. whAt wE LOOK FOR Citi’s success is built on attracting the best individuals. Strong write-in candidates are usually invited to meet two or three professionals in New York and then may be invited to final rounds. there’s always something new. moving more than $1 trillion per day. Strong candidates from each campus will be invited to final rounds in New York (or another appropriate location). we offer unrivaled opportunities for people of We want to know how you view yourself and express yourself. Our bankers work with the leading corporations. MESSAGE tO MbA CANdIdAtES citi. capable people who think and plan with intensity. we’re No. and deploy and develop their skills in flexible. Euromoney’s Best Global Cash Management House and Best Global Emerging Market Bank. dESCRIPtION OF hIRING PROCESS One or two professionals conduct first-round interviews at on-campus career services facilities for each school that we visit. you’ll enjoy an environment where entrepreneurship. and the World’s Largest Global Custodian by Institutional Investor. A testament to our success is the long list of awards the bank has won in the past year alone. Depending on the size of the school. so we may ask the following: • why you chose your undergraduate institution • why you chose your major • what you did before business school • why you chose the business school you are attending thE COMPANIES YOu NEEd tO KNOw AbOut 67 . Director. Each day we handle about 10 percent of the volume of the NYSE and the Nasdaq and we’re the top-ranked firm in global combined debt and equity securities for 18 consecutive quarters. We assume that candidates have a genuine interest in working for us and therefore have taken the time to do their homework. 1 worldwide in cash management. or assisting in some of the world’s largest corporate deals. we create a stronger Citi. and a better place to build a career. including: Global Finance’s Best Investment Bank and Best Cash Management Bank. you are at a disadvantage. Trade Finance’s Best Trade Services Bank. We need bright.citi. adaptability.com GENERAL INtERvIEw AdvICE Obviously. Citi Campus Strategies Caitlin McLaughlin. Graduate Recruitment Team INduStRY Commercial Banking Investment Banking Investment Management Sales and Trading whAt’S NEw diverse backgrounds and talents to work with colleagues across a wide range of business groups and new markets. financial institutions and governments globally to provide world-class advice across product and sectors. second-round interviews take place on campus or at a nearby facility. We also look for evidence of a high energy level. We look for professionals who possess self-confidence and are willing to accept real challenges. you need strong quantitative skills and an interest in the business. Whether it’s the design of leading-edge technology. respond and execute quickly. If you are not prepared and do not have a good understanding of our businesses.C CItI Company Profile uRL www.com tICKER C AddRESS 388 Greenwich Street New York.

portfolio management. interpretations. including cash management. We believe our efforts will help us do better business in an increasingly diverse society and marketplace. and strategies COMMON INtERvIEw QuEStIONS MESSAGE tO wOMEN/MINORItIES At Citi. For example . investments. and individuals around the world. the Consumer Group. As the nation’s second-largest retail brokerage firm. underwriting. race. In addition. Citi has emerged as the most exciting financial services company in the world. Citi Alternative Investments and the Global Wealth Management. and use diverse channels to make them available to institutional and individual clients around the world. OvERvIEw OF OuR COMPANY • Tell me about yourself. banking and consumer finance. asset allocation. • whether you know what you’re getting into • whether you are ready to give what it takes • whether you understand the rules of the game • whether you consider the time spent in banking as a great personal investment or as a sacrifice We want to know how interested you are in us. And. futures and cash management. we offer all employees—regardless of gender. which provides brokerage. of course. securities industry. national origin. As a leader in the U. We offer both our individual and corporate clients a range of quality products and services unmatched in the financial services industry. bonds. In a short amount of time. investment banking and cash management services to corporations. mutual fund services. we are able to provide our employees with a breadth of career opportunities that is both equal and global. as well as make Citi the best choice for the best people. full-service financial firm. and trading for individuals and institutions. as a result. global relationship banking. whether in a personal or professional setting. these businesses offer the full range of financial products and services. • Talk to me about leadership positions you’ve held. research. sales and trading. our core services include sales. we offer clients a full range of investment products—including stocks. insurance and annuities —and services such as advice on retirement planning. Together. Citi includes Corporate & Investment Banking. trust services (not available in all states). and how good your judgment is • how strong your convictions are and how passionate you are about the decisions you’ve made • whether you are articulate.COMPANY PROFILES • why you are interested in a specific career (such as investment banking. age. credit and charge cards. mutual funds. which includes Smith Barney Equity Research division. and specialty financing for corporations and government entities. sexual orientation. CDs. . and focused We want to know the following: • whether you will be able to stand up to the pressure • whether you inspire confidence and respect among your peers • why you are prepared to dedicate yourself to an often grueling and stressful business We want to know how interested you are in the industry. governments. . compelling. • Tell me about some of the more important Citi deals. advisory. Citi Markets and Banking is a global. but we also want to know: • the depth of your understanding • how well you understand the subtleties • how well you evaluate alternative explanations. and investment banking and trading. insurance. college funding. estate planning. disability or religion—the opportunity and means to advance to their full potential. We work to ensure an environment in which individuals from diverse backgrounds can develop professionally and personally. your interviewers will ask you technical questions about the specific area that interests you. CORPORAtE MISSION ANd/OR StRAtEGY CItI We aspire to be known as: • A company with the highest standards of moral and ethi- 68 thE COMPANIES YOu NEEd tO KNOw AbOut . research. a place where clients want to do business and employees want to build their futures. and other services for affluent investors. For example we might ask: • whether you’ve done your homework on the firm • whether you have a real interest in Citi • what opinions and questions you have about the work we’ve done • what questions you have about the work you would do We want to know how technically knowledgeable you are. or consumer businesses) • what motivates you both personally and professionally • what your goals are and how you intend to go after them These questions help us ascertain: • how concisely and cogently you can express yourself • how carefully you have thought about the choices you have made.S.

. and the first choice of where clients want to do business. challenge. We recently completed our “One Bank” reorganization. • A company where the best people want to work. • An organization with credibility—doing what we say and reporting results with accuracy and objectivity. hIRING LOCAtIONS NY COMMON INtERNAtIONAL hIRING LOCAtIONS Australia. dESCRIPtION OF GLObAL PRESENCE uRL www. Ours is a company for people who have a sense of urgency and excitement. thE COMPANIES YOu NEEd tO KNOw AbOut 69 .com COMMON u. Citi is not just a larger version of Travelers or Citicorp. to provide our clients with a complete banking solution to meet their needs. especially in the U. entrepreneurial. • Client-focused. and adaptable. with market leadership in every one of our major activities. the Middle East. hOw/whY wE ARE dIFFERENt Citi is the most profitable financial services company in the world. LINK tO EMPLOYEE PROFILES citi. Our word is our bond. This change helps us bring together all the products and skills from across our entire Bank. day in and day out. In Investment Banking. • The leader in global financial services. but a new company altogether. Japan. taking a leadership role in every local community around the world in which we operate. Central and Eastern Europe. unifying our entire global banking business. from millions of individual consumers and small businesses to corporations. governments. Both companies had long and impressive histories of customer service and innovation. Our atmosphere is open. and Africa. Private Banking and Asset Management.S. Many offices. with 200 million customer accounts in more than 100 countries. MBA Campus Relations Manager Jennifer Salerno. • A company dedicated to community service. hOME OFFICE LOCAtION New York. BA Campus Relations Manager MESSAGE tO MbA CANdIdAtES CREdIt SuISSE Citi has a long and unrivaled history as a provider of financial services throughout the world in more than 100 countries. are business-casual.C cal conduct—working to earn client trust. COMPANY hIStORY dESCRIPtION OF OFFICE CuLtuRE: Our employees thrive on constant change and growth. This is a truly exciting moment in our history. and institutional investors around the globe. NY 10010 PhONE 212-325-2000 CONtACt Kristina Flood. our products and services include debt and equity underwriting. Our global footprint includes 80 emerging market countries in Asia.com tICKER CSR AddRESS 11 Madison Avenue 10th Floor New York.S. with more exciting growth possibilities than either predecessor alone. The people of Citi put clients first and are constantly striving to improve their performance. Latin America. friendly and congenial.credit-suisse. MBA Campus Relations Manager Kim Lancer. UK CREdIt SuISSE Company Proflie The creation of Citi in 1998 brought together two extraordinary organizations: Citicorp and Travelers. BA Campus Relations Manager Amanda Angulo. and one of the greatest companies in the world. and making each community a better place because we are there. and competition. Our strategy builds on our integrated structure and client-centric business model and ensures that we deliver our full range of products and services to clients from across our three divisions: Investment Banking. They are hard-working. Today. sales and trading. insightful and creative. providing unparalleled levels of service as a means of protecting and building our business franchise over time. who are candid. and who thrive in an environment of change. NY CLIENtS/INduStRIES SERvEd Citi fulfills the financial services needs of an unparalleled range of clients.

and other institutional investors. including pension planning. 1988: The First Boston Corporation and Credit Suisse First Boston create a new global investment banking firm. 1946: Mellon Securities Corporation merges into The First Boston Corporation. It is possible. The Bank has a truly global reach 1932: The First Boston Corporation is established as a subsidiary of The First National Bank of Boston. as well as wealth and inheritance advice. senior employees. governments and private clients globally. Within a few days. equity capital markets and mergers-and-acquisitions advi- 70 thE COMPANIES YOu NEEd tO KNOw AbOut . we offer comprehensive advice and a broad range of wealth management solutions. where you will interview with junior and senior members of the Bank. If we request a second interview. which then becomes Credit Suisse First Boston. restructuring and investment research. Our diversity initiatives continue to receive external recognition: Credit Suisse has been named the one of the “Best Companies for Working Mothers” by Working Mother magazine for the past four years. and most valued for its advice. under the umbrella of Zurich-based financial services firm CS Holding. The First Boston Corporation severs its ties to The First National Bank of Boston and becomes the first publicly held investment bank in the United States. which was founded in Switzerland in 1865.COMPANY PROFILES M&A.000 employees. Private Banking and Asset Management. 1996-97: CS First Boston becomes Credit Suisse First Boston as part of the reorganization of CS Holding into Credit Suisse Group. 1998: Credit Suisse First Boston completes two important acquisitions: the European and selected Asian equity. Major shareholders include CS Holding. We will then contact you with our decision within a week. After your second round of interviews.” Credit Suisse’s philanthropic strategy emphasizes “Giving Back to the Community. MESSAGE tO wOMEN/MINORItIES The vision of Credit Suisse is to become the world’s premier bank. CORPORAtE MISSION ANd/OR StRAtEGY CREdIt SuISSE Start by applying on-line at www. we offer integrated investment solutions and services to institutions. corporate sales. If we are interviewing on your campus.credit-suisse. In Private Banking. Private Banking and Asset Management. 1933-1934: As required by the Glass-Steagall Act in the United States. The reorganization consolidates the corporate banking operations of Credit Suisse and the bulge-bracket investment banking capabilities of CS First Boston. In Asset Management. where you will be able to track the progress of your resume. CS First Boston. The Credit Suisse Foundation’s unique mission allows our employees to address a wide variety of social issues by acting as internal champions. renowned for expertise in Investment Banking. Working Mother also named Credit Suisse one of the “20 Best US-based Companies for Multicultural Women. innovation and execution. which are tailored to the needs of high net worth individuals worldwide. 1948: The First Boston Corporation joins the New York Stock Exchange. increasing First Boston’s capital and client base. tax planning. CS First Boston establishes a AAA-rated derivatives-product affiliate with Credit Suisse to provide a broad range of risk management and derivative product services. For the first round. life insurance products. COMPANY hIStORY Cultivating and fostering an inclusive workplace is an integral part of Credit Suisse’s business strategy. Credit Suisse will set new standards: new standards in partnering with our clients and new standards in providing them with innovative and integrated solutions. we’ll contact you by telephone or email to let you know if we want to set up a second interview. In order to achieve this vision. 1990: CS Holding increases its ownership take in CS First Boston from 44. with operations in over 50 countries and a team of more than 41. enter into a cross-shareholding.5 percent to 64percent.com/careers. The First Boston Corporation goes private. resulting in joint ownership of White Weld’s former London-based subsidiary. hOw tO APPLY today. please apply both to your career center as well through our online system. that you’ll be asked to visit us again to meet with more professionals in the Bank. we may be ready to make our decision. however. initiating events or through volunteerism. you’ll likely be asked to come to our offices. Black MBA magazine recently honored several Credit Suisse employees in its prestigious “Top 50 under 50 list. 1978: The First Boston Corporation and Credit Suisse. divestitures.” We financially support organizations and reinforce that support with employee involvement. which cooperate closely to provide holistic financial solutions based on innovative products and specially tailored advice. you will meet with one or two of our employees for about 30 minutes. Metropolitan Life Insurance Company. OvERvIEw OF OuR COMPANY Credit Suisse serves its diverse clients through three divisions: Investment Banking.” Additionally.

we’ll help you stretch them to their limits. you’ll find the freedom to question the status quo. Directors. and Asia/Pacific Region. Black MBA magazine recently honored several Credit Suisse employees in its prestigious “Top 50 under 50 list.000 employees and a leading presence in virtually every major financial market in the world. try new things. 2001: Credit Suisse Group named John Mack as Chief Executive Officer of Credit Suisse First Boston and Vice Chairman of the Group Executive Board. You won’t find bureaucracy or a strict hierarchy at Credit Suisse. prestige. we must. its main businesses unite under one brand of Credit Suisse. 2004: Brady Dougan. and Banco Garantia. styles and outlooks -. London and Zurich. and efficiency that accompanies our 150-year history of excellence. to help meet our clients’ needs. the leading investment bank in Brazil. hOME OFFICE LOCAtION The Investment Banking Division is based in New York. and we pride ourselves on the outstanding intellectual capabilities of our people and their ability to deliver creative solutions to our clients’ most complex and challenging problems. Employees tend to have responsibility early—with support. The Credit Suisse Foundation’s unique mission allows our employees to address a wide variety of social issues by acting as internal champions. it is not unusual to have immediate exposure to Managing Directors. with regional offices across the Americas. mentoring and other resources for professional growth along the way.com/investors/ FOuNdING PRINCIPLES Our culture is both traditional and innovative. They can do the same for your career. coupling the dynamism and innovation of a global leader in investment banking with the tradition of stability. Our diversity initiatives continue to receive external recognition: Credit Suisse has been named the one of the “Best Companies for Working Mothers” by Working Mother magazine for the past four years. keep clients at the center of our thinking. We’re active in more than 50 countries and employ approximately 45.” Additionally. CSFB and other business units of Credit Suisse Group embark on a strategic One Bank integration.” Credit Suisse’s philanthropic strategy emphasizes “Giving Back to the Community. with more than 26. For our clients. We stand out as one of the most experienced private banking and asset management firms globally.but what really matters here is the success of the team. If you’re confident in your abilities. hOw/whY wE ARE dIFFERENt dESCRIPtION OF GLObAL PRESENCE Credit Suisse First Boston has its main offices in New York. 2000: Credit Suisse First Boston and Donaldson. 2006: As part of Credit Suisse Group’s One Bank strategy. and Vice Presidents at Credit Suisse. We encourage and reward open communication at all levels. Europe. thE COMPANIES YOu NEEd tO KNOw AbOut 71 .C sory business of BZW from Barclays of the UK. these essential differences help provide the energy we direct externally to create productive change. We’re highly varied in our backgrounds. we’re looking for people who understand that in order to deliver.credit-suisse. As we move ahead. as always. 2002: Credit Suisse Group streamlined its organizational structure into two separate business units: Credit Suisse First Boston and Credit Suisse Financial Services. initiating events or through volunteerism. hOw wE ARE ORGANIZEd Cultivating and fostering an inclusive workplace is an integral part of Credit Suisse’s business strategy. At Credit Suisse. Our work environment combines individuality and teamwork. 2007: Brady Dougan named CEO of Credit Suisse Group. Even as a new Associate or Analyst.000 people. discretion. NY LINK tO bASIC FINANCIALS www. a 15-year veteran at CSFB. focus intensely and move quickly and flexibly. Credit Suisse has been known for pioneering new financial products and services in both developed and emerging markets. During our long history. dESCRIPtION OF OFFICE CuLtuRE CREdIt SuISSE Credit Suisse provides an innovative and supportive culture in which talented and ambitious individuals work together to provide solutions for our clients across the globe. is named CEO of Credit Suisse First Boston. People who leverage innovation to help our clients find solutions to their business issues as the global capital markets become increasingly volatile and interdependent.” We financially support organizations and reinforce that support with employee involvement. Lufkin & Jenrette combine to create one of the world’s most powerful investment banks. Working Mother also named Credit Suisse one of the “20 Best US-based Companies for Multicultural Women. People who understand the importance of teamwork and innovation.

financial advisory services. FuLL-tIME POSItIONS Deloitte is one of the world’s leading consulting firms for business strategy. UK. The way to “fit in” at Credit Suisse is to be every bit as talented. China. dEutSChE bANK Company Profile We offer full time associate positions in several of our offices. London and Hong Kong.deloitte. On the contrary. and even as far as Sydney. It doesn’t mean you have to have a particular kind of degree or major.will help you “stand out” and make an impact within the Bank. You may have seen some of our recruiting materials or our web site with the message: “Fit In. Singapore. although we do have smaller programs in other regional offices. Stand Out.com AddRES 60 Wall Street New York .db. which is the key to Credit Suisse’s success. Hong Kong. London. Hong Kong. Deloitte Consulting is part of Deloitte Touche Tohmatsu. And it certainly doesn’t mean that there is a Credit Suisse “type” of person. and human resource planning. expertise and capabilities by awarding the Firm numerous “Deals of the Year” awards for its financing and advisory assignments on behalf of its clients.COMPANY PROFILES AbOut OuR PEOPLE To help us achieve our goals. you’ll go on to help our clients stand out. You fit in by being collaborative rather than competitive by being curious and asking questions. including New York. diversity—diversity in the broadest sense—is at the core of the Bank. USA uRL www. San Francisco. And our training and development -– arguably the best in the industry –. and imaginative as the people you’ll work alongside. operations. technology. and that’s what we continue to look for in the people we recruit. and risk management capabilities. by taking the initiative and assuming a leadership role whenever the need arises. Houston. SuMMER POSItIONS (INtERNS) Our summer associate programs are primarily run out of New York. COMMON INtERNAtIONAL hIRING LOCAtIONS Australia. we are always looking to hire the best and the brightest. a leading accounting firm which employs more than 90.com OFFICE hEAdQuARtERS New York. NY PhONE 212-489-1600 MANAGEMENt Barry Salzberg. The financial press regularly recognizes Credit Suisse’s innovation. Deloitte & Touche USA dESCRIPtION dEutSChE bANK dELOIttE CONSuLtING Credit Suisse has received recognition over the years from various financial publications for its global transaction and advisory work. Credit Suisse has a history of employing entrepreneurial thinkers. CEO. Describing those kind of competences on your application and at interview will make you “stand out” during the selection process. NY 10005 PhONE 212-250-2500 FAx 212-797-0177 INduStRY Investment Banking Investment Management Sales and Trading 72 thE COMPANIES YOu NEEd tO KNOw AbOut . What’s more.000 people in over 130 countries. Singapore.” This doesn’t mean that we’re looking for conformists. AwARdS wON [d] dELOIttE CONSuLtING Jungle Profile uRL www. Switzerland. focused. India. Their services integrate consulting with tax solutions.

candidates may also take part in a meeting at an assessment center. cuttingedge capabilities. This means the interviews attempt to highlight the candidate’s aptitude for the positions the bank is seeking to fill.com/careers GENERAL INtERvIEw AdvICE Preparation is key to a successful interview. leadership and business opportunities. Familiarize yourself with the area that you are applying to. and the community as a whole. enabling you to formulate your own opinions. Within the work place. You will take ownership of your own projects with minimum supervision and you will reap the rewards of your success. Yet even as we continue to evolve and change. and Tokyo as well as in the U. Hong Kong.S. a spirit of innovation. the ability to work in a team as well as a desire to learn and a proven interest in the financial sector. candidates are advised to contact their regional graduate recruitment department. Prior experience in the financial services industry is preferred. This will enhance your business knowledge. There may be a panel interview. Internship opportunities are available in London. Our interviews are competency–based.d whAt’S NEw At Deutsche Bank. and financial strength create value for our stakeholders: clients. level of interest in Deutsche Bank and work experience. They will be asked to show how their experiences demonstrate these competencies. evidence of personal motivation and ambition. attracting the brightest talent to deliver an unmatched franchise. You will possess the natural drive that is a prerequisite to success in our business. numeracy. Our Family Network gives working parents a platform to raise awareness of their needs across the firm while our female employees have access to the best in career development. Work experience in the sector is also an asset. Europe. Deutsche Bank is an Equal Opportunity Employer and strongly encourages all individuals to apply for any of our exciting opportunities both at home and abroad. the keys to Deutsche Bank’s success remain constant: a focus on client needs. investors. proficiency in the language of that region is strongly encouraged. ON-CAMPuS EvENtS CALENdAR www. and Japan. The interview process will commence typically with a first-round interview. Candidates are selected based a number of factors including academic record. MESSAGE tO INtERNAtIONAL StudENtS dEutSChE bANK The Bank recruits on campus for opportunities in the United States. we’re committed to relationship building of the highest caliber. Although there is the universal use of English in the majority of the world’s financial centers. Our breadth of experience. All faith rooms in every office.db.com/careers). For instance. Expect the better career. Asia. We are committed to being the best financial services provider in the world. Candidates will be informed of their particular interview process prior to the interview. but also the best in their work/life balance. highly skilled professionals across the globe. and Women on Wall Street programs. hOw tO APPLY Deutsche Bank welcomes individuals with potential to work in various international locations. dESCRIPtION OF hIRING PROCESS Interiewers look for a strong and consistent academic background. thE COMPANIES YOu NEEd tO KNOw AbOut 73 . United Kingdom. whAt wE LOOK FOR We are looking for powerful minds. or participate in a case study. MESSAGE tO MbA CANdIdAtES The online system will allow you to register and attach your resume for consideration for any of our global opportunities.db. and financial strength delivered by diverse. we believe that ‘A Passion to Perform’ is more than just a claim – it is the way we do business. employees. entrepreneurialism. In some regions. If there are any questions concerning this process. Women in European Business. a broad range of expertise combined with technological power. through the Deutsche Bank Women’s Network. multicultural partnerships and rainbow groups across the globe are just a few networks available to all employees. Hire non-US citizens: Yes Sponsor for H-1B visas: Yes MESSAGE tO wOMEN/MINORItIES All applications for the global graduate training programs must be via our online website (www. with creative spirits and an appetite for innovation. you should be aware of recent economic events which can be attained via traditional business publications. developing a series of initiatives that have been designed to not simply enhance the best in our people. candidates may be asked to take a numerical or diagrammatic test.

This merger created a global platform to expand investment banking domestically and abroad. equity. a whole greater than the sum of its parts. A continuous career development program is also provided to graduate trainees upon completion of the Induction Program. Private Clients and Asset Management (PCAM) and Corporate Investments (CI). sales and trading of capital markets products including debt. Bankers Trust. America’s oldest investment bank. As one of the world’s leading financial institutions. Deutsche Bank purchased Bankers Trust. We pride ourselves on building a long-term relationship with our employees through developmental support that begins with your entry into the global graduate programs. or CIB. COMPANY hIStORY Deutsche Bank AG. commodity. together with our corporate advisory. foreign exchange.000 employees. All have long histories and proud traditions. corporate lending and transaction banking businesses. was created through the union of premier financial organizations. in Germany garnered accolades from. and in the UK. Alex Brown’s American legacy started in the year 1800. Deutsche Bank started as a trade financing business and growing to the leading global financial institution it is today. Deutsche Bank is strong: we have a unique business model. Together they form a transatlantic and global presence second to none. Total-E Quality and Success Factor Family. 74 thE COMPANIES YOu NEEd tO KNOw AbOut . In 2006. Today’s Deutsche Bank represents not just the best of predecessor institutions.: Deutsche Bank traces its European origins back to 1870. structuring and trading of fixed income. comprising the origination. ‘The Times’ rated us one of their Top 20 Best Companies to Work. The global Development team designs and delivers comprehensive induction training and continuous development modules for all Associate Graduate Programs at Deutsche Bank. In 1997. Working Mothers magazine voted us one of the 100 Best Companies to Work for for the fourth consecutive year. create eye-level partnerships and be part of diverse and aspirational workplace. and Bankers Trust dates its American heritage to 1903. equity. sale. but something more: a genuine example of synergy. the quality of its service. As a top executor of M&A deals. derivative. the groups discovered similarities between their organizations that transcended borders and cultures. and are designed to prepare successful Associates for their career at Deutsche Bank by providing trainees with exposure to the financial markets. one of the largest financial institutions. CORPORAtE MISSION ANd/OR StRAtEGY dEutSChE bANK Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients. inclusive work environment that encourages new ideas. The merger was inspired by the need to compete for corporate clients in an increasingly global arena. Global Markets is responsible for the origination. In 1999. the power of its technology and—perhaps most important—the caliber of its people. and are committed to our clients for the long term. we foster a diverse. Not only did the firms share long and distinguished histories. the global leader in securities trading and offering holistic advisory services to private clients. In the US. excellent know-how and outstanding people to offer our demanding customers tailored and integrated financial solutions. and other securities. then the eighth largest bank. all have demonstrated time and again the ability to identify opportunities created by change. creating exceptional value for our shareholders and people. we picked up the Working Mother Award. As the firm’s employees became acquainted with their colleagues. hOw wE ARE ORGANIZEd Deutsche Bank comprises three Group Divisions: the Corporate and Investment Bank (CIB). OvERvIEw OF OuR COMPANY class in the scope of its operations. while offering a variety of products to clients. An additional aspect of this focus on development is a mentoring program which is designed to provide senior management exposure and a confidential sounding board upon entering the hired division. is responsible for Deutsche Bank’s capital markets business. entered an agreement to merge with Alex. hOw/whY wE ARE dIFFERENt As a global player for more than 135 years. We have a diverse pool of talent strategically positioned around the world. the range of its products. The Induction Programs are held annually in New York and London. we provide the platform to take your career forward. You will participate in first-rate training programs. Corporate and Investment Bank (CIB) The Corporate and Investment Bank Group Division. and money market products. We give you the chance to make a difference.COMPANY PROFILES Our hard work has paid off. Deutsche Bank now extends beyond 75 countries and over 75. The Global Associate program is designed to be progressive and fully aligned to the needs of the business.2 billion. The combined organization is truly world As an employer with the platform to lift careers to the next level. products and investment services. Brown. in a deal valued at $2.

The bank’s Trade Services. and in Asia. Global Markets or Global Banking.db. together with our traditional banking activities for private individuals and small and medium-sized businesses. with a full range of services including traditional asset management. PBC operates outside Germany predominantly in European markets including Italy and Spain.db. MD.d Global Banking comprises Corporate Finance Coverage. NY. Cash Management and Custody/Corporate Trust are also an intergral part of this pillar of CIB. The more one can manage. Successful associates possess the natural drive required to succeed in the banking business. including current accounts.com/en/content/company/awards. INtERNShIP POSItIONS Candidates pursuing an MBA and about to complete their first year. and business banking services. are invited to apply to our Associate Summer Internship Program in either Asset Management.db. MA. Equity Capital Markets.htm Link to employee profiles: www. including India and China. such as Poland. the more one will be given to do. please visit www. and the right initiative on their part. inheritance planning. PCAM comprises two Corporate Divisions: Asset and Wealth Management and Private & Business Clients. investment management products. sophisticated absolute return strategies and real estate asset management. including pension funds and insurance companies.com/ir/ dESCRIPtION OF OFFICE CuLtuRE Deutsche Bank is a true meritocracy. please visit www. and philanthropic advisory services. USA Frankfurt. Germany thE COMPANIES YOu NEEd tO KNOw AbOut 75 . or PCAM. you are invited to apply to our Associate Training Program in either Asset Management. deposits and loans. Japan. Asset Management also provides retail clients across the globe with mutual fund products through our DWS and DWS Scudder franchises. • Asset and Wealth Management: Asset Management provides institutional clients. It is currently expanding into important emerging markets in Central and Eastern Europe. Corporate Banking Coverage and Real Estate both for large caps as well as midcap clients. Career progress in large part depends on how well an employee handles responsibility. hOME OFFICE LOCAtION Germany. M&A.S. TX COMMON INtERNAtIONAL hIRING LOCAtIONS Deutsche Bank now extends beyond 75 countries and over 75. With carefully planned training and guidance. comprises Deutsche Bank’s investment management business for private and institutional clients. Global Markets or Global Banking. RESOuRCES Awards won: www. For more details on these roles. COMMON u. They take ownership of their projects with minimum supervision and they reap the rewards of their successes.000 employees. hIRING LOCAtIONS CA.com/presse/en/content/ FuLL-tIME POSItIONS dEutSChE bANK If you have two to five years work experience and are studying towards an MBA. Private Clients and Asset Management (PCAM) The Private Clients and Asset Management Group Division.com/careers. but also in Belgium and Portugal. or those with a 10 week holiday during their study. Private Wealth Management serves high net worth individuals and families worldwide with a fully-integrated wealth management service embracing portfolio management. IL. Hong Kong. dESCRIPtION OF GLObAL PRESENCE MANAGEMENt/OFFICERS Chairman of the Group Executive Committee – Josef Ackermann LINK tO bASIC FINANCIALS www. UK.db. Singapore.db. we are able to cross-sell more aggressively capital markets products and services to one of the premier corporate client portfolios in the world.com/careers Link to recent news: www.db. • Private & Business Clients: Private & Business Clients (PBC) provides private individuals and small businesses with a full range of traditional banking products. tax advisory. they will deliver solutions and add value to the Bank’s clients. The Bank is looking for powerful minds and creative spirits with the aptitude for innovation. For more details on these roles. alternative assets. With this structure.com/careers.

Graduate Recruiter INduStRY Public Policy/Nonprofit dIAMONd MANAGEMENt ELI LILLY Eli Lilly is a 130-year-old pharmaceutical company with 42. PhONE 317-276-2000 MANAGEMENt Sidney Taurel. Ind. technology and security risk services.com OFFICE hEAdQuARtERS Indianapolis. retail and distribution. These and other products are sold in 143 countries worldwide. logistics. ERNSt & YOuNG [E] ELI LILLY Jungle Profile uRL www. Top products include Cialis®. With 700 locations in 140 countries. Staff Director-Professional and Campus Recruitment Erika Vandervoort. business risk services. transaction advisory. and public sector organizations.lilly. manufacturing. financial services. human capital services.diamondconsultants. Prozac® and Ceclor®. IL PhONE 312-255-5000 MANAGEMENt Adam Gutstein.com OFFICE hEAdQuARtERS Chicago. including tax reporting and operations.newyorkfed. Ernst & Young is a leading accounting firm providing a broad array of services. NY 10045 PhONE 212-720-6040 FAx 212-720-8424 CONtACt Denise Koster.ey. chairman and CEO dESCRIPtION FEdERAL RESERvE bANK OF NEw YORK Diamond is a management and technology consulting firm with locations in the United States. which is the world’s top-selling oral antibiotic. tax advisory.com OFFICE hEAdQuARtERS New York PhONE 212-773-3000 MANAGEMENt James Turley.org AddRESS 33 Liberty Street Floor 2M New York. and legal services. healthcare.COMPANY PROFILES dIAMONd MANAGEMENt (FORMERLY DIAMONDCLUSTER INTERNATIONAL) Jungle Profile uRL www. Undergraduate Recruiter Michael Embry. telecommunications. London and Mumbai which serves industries including consumer packaged goods. Chairman and CEO dESCRIPtION [F] FEdERAL RESERvE bANK OF NEw YORK Company Profile uRL www. insurance. President and CEO dESCRIPtION ERNSt & YOuNG Jungle Profile uRL www. 76 thE COMPANIES YOu NEEd tO KNOw AbOut .000 employees in 60 countries.

friends and communities. We believe in balance. Our employees take on challenging assignments and contribute to decisions that affect the economic health of entire nations and millions of people.. job seekers must apply using the online application available on the New York Fed’s career website. banks and promoting community development and reinvestment. NY MANAGEMENt/OFFICERS The Federal Reserve Bank of New York values and is committed to a diverse workforce. the New York Fed is the largest Reserve Bank in terms of assets and volume of activity. supervising and regulating depository institutions. backgrounds. It is responsible for formulating and executing monetary policy. If a suitable opening exists. OvERvIEw OF OuR COMPANY: Timothy F. D. which encompasses New York state. the 12 northern counties of New Jersey.S. government.newyorkfed. The Bank maintains its reputation with a diverse. please visit our website.) Hire non-US citizens: Yes Sponsor for H-1B visas: No MESSAGE tO wOMEN/MINORItIES The New York Fed has supervisory jurisdiction over the Second Federal Reserve District. President Christine M. AbOut OuR PEOPLE At the Federal Reserve Bank of New York. Our employees also devote time to their families. and the Virgin Islands.and part-time consideration. protecting consumers’ rights in their dealings with. together with the Board of Governors in Washington. Cumming. The Federal Reserve Bank of New York has a reputation for independent and objective thinking. The Utica office handles check processing for the upstate New York area. It’s a challenge that demands the skills of a Wall Street professional and the intellectual curiosity of an academic. The Fed’s generous benefits package and career development opportunities help employees achieve a balanced life. providing an elastic currency.F dESCRIPtION OF hIRING PROCESS For employment consideration. Our mission is to provide a work environment where each staff member feels respected. a representative of the Campus Recruitment Staff will contact you.Y. experiences and beliefs to best shape national and international financial policy in a rapidly changing world. hOME OFFICE LOCAtION FEdERAL RESERvE bANK OF NEw YORK New York. government. there are two regional offices located in Utica. is an independent governmental entity created by Congress in 1913 to serve as the central bank of the United States. The “Fed.” as the system is commonly called.) ON-CAMPuS EvENtS CALENdAR www.S. Geithner.org/careers MESSAGE tO INtERNAtIONAL StudENtS For full. and included. talented staff that is deep in expertise and committed to public service. assisting the federal government’s financing operations and serving as the banker for the U. N. comprise the Federal Reserve System. hOw wE ARE ORGANIZEd For a complete list of current openings and instructions on how to apply. Additionally. The 12 Reserve Banks supervise and regulate bank holding companies as well as state chartered banks in their District that are members of the Federal Reserve System. while the East Rutherford office handles check processing for New Jersey and the New York metropolitan area. all combined with a passion for public service. N.J. (No phone calls please. and East Rutherford. candidates must be legally authorized for employment in the United States on a multi-year basis for more than practical training purposes. First Vice President dESCRIPtION OF OFFICE CuLtuRE The Federal Reserve Bank of New York is one of 12 regional Reserve Banks which. hOw tO APPLY United States in the monetary arena. Though it serves a geographically small area compared with those of other Federal Reserve Banks. valued. We strive to be a place where everyone has the opportunity thE COMPANIES YOu NEEd tO KNOw AbOut 77 . Puerto Rico. Fairfield County in Connecticut. In addition. (Authorization under a student visa to engage in practical training does not satisfy this requirement.C. you’ll help keep the banking industry robust and secure. hOw/whY wE ARE dIFFERENt Pursuing an important and challenging career should not require giving up all other dimensions of your life. it has important roles in operating the nation’s payments systems. Each Reserve Bank provides services to depository institutions in its respective District and functions as a fiscal agent of the U. and represent the It takes great minds with different perspectives. We are a trusted intermediary at the crossroads of the public and private sectors as well as domestic and international financial systems.

MN PhONE 763-764-7504 MANAGEMENt Stephen W.generalmills. exchange ideas and be recognized based on performance. wellness programs. Chairman and CEO uRL www. Link to employee profiles: www. All of our leaders are responsible for implementing these objectives by fully engaging the Bank’s diverse workforce. These include cereals like Cheerios. Financial/Economic Analyst.newyorkfed. Johnson III. as well as formal training.com OFFICE hEAdQuARtERS Minneapolis. Chairman and CEO dESCRIPtION GENERAL MILLS GOLdMAN SAChS The Professional Development Program provides new examiners with a solid understanding of the Bank Supervision’s business activities through a variety of shortterm assignments. adoption assistance. 12 paid holidays. competitive compensation programs. fitness center. commutation reimbursement. subsidized cafeterias. on-site medical staff. Progresso soups. (home. Fidelity Investments is a group of privately held companies that provide a wide array of financial and asset management services to 23 million individual and thousands of institutional clients. Yoplait yogurts. flexible spending accounts. life.org/careers/ Link to recent news: www. Häagen Dazs ice cream. matching thrift plan (up to 6 percent annually). hiring locations: NY SPECIAL PROGRAMS [G] GENERAL MILLS Jungle Profile uRL www. GOLdMAN SAChS Company Profile FIdELItY INvEStMENtS Jungle Profile uRL www. and Green Giant vegetables.COMPANY PROFILES to contribute. flexible work arrangements. NY 10004 USA PhONE 212-902-1000 78 thE COMPANIES YOu NEEd tO KNOw AbOut . domestic partner/dependent benefits. RESOuRCES dESCRIPtION No longer just a mutual fund company.com OFFICE hEAdQuARtERS Boston PhONE 617-563-7000 MANAGEMENt Edward C.gs. corporate discounts. bENEFItS SuMMARY FIdELItY INvEStMENtS Comprehensive benefits. financial planning. tuition assistance. and a businesscasual dress policy General Mills markets many of the most widely known consumer food brands. Sanger.S. Pillsbury baked goods.fidelity. Trader Analyst Number of full time hires: Varies Summer positions (interns): – Graduate Summer Analyst Program – Undergraduate Summer Analyst Program Number of summer hires (interns): Varies Percent of last summer’s hires extended to full–time positions: 85% Common U.org/newsevents/ POSItIONS Full-time positions: Bank Examiner. 15 days vacation. bank funded pension plan.newyorkfed. and auto insurance).com/careers tICKER GS AddRESS 85 Broad Street New York. marriage leave.

associate candidates may receive two separate invitations to interview in a second-round process. Some business schools also require their students to apply through the career service office. COMMON INtERvIEw QuEStIONS: The first interview is designed to help us get to know you and determine your suitability for a particular area of the firm. we welcome applications from MBA and graduate students from all schools. • Quickly assume significant responsibilities for products.gs. you will find yourself in a challenging and exhilarating work environment where you can expect to: • Receive on-the-job learning complemented by formal training provided by Goldman Sachs University. The interview is held on campus or in our offices with up to two Goldman Sachs professionals from the same division. Lastly.co. and enthusiasm matched with a sense of poise and purpose. it is equally important that you get to know more about us in order to decide whether or not you would enjoy it here. both personal and academic.G INduStRY Investment Banking Investment Management Sales and Trading whAt’S NEw tions about us. “we offer our people the opportunity to move ahead more rapidly than is possible at most other places. your first interview with us will be with the region(s) and/or division(s) you selected on your application. You will work in a collegial environment where people take the time to properly train. as well as your work experience. Additionally. clients. • Gain career mobility options within two years. We will generally focus on your past achievements. mentor and support you to maximize your personal development. Description of hiring process: Goldman Sachs conducts on-campus recruiting efforts at top graduate and business schools globally. However. New Associates at Goldman Sachs will be able to build a broad-based skill set that is applicable to a number of opportunities within Goldman Sachs and beyond. Please check with your career center for school rules. we look for ways in which you can demonstrate these traits. specific divisions and/or what it is like working here.com/careers for the latest information about career opportunities at Goldman Sachs. whAt wE LOOK FOR GOLdMAN SAChS Goldman Sachs looks for individuals with an outstanding academic record. As a result of interviewing with more than one region or division. Very early in your career.wcn. Our Web site will also provide you with information regarding the application process.com/careers.html GENERAL INtERvIEw AdvICE Come prepared for the interview. with the daily support of our senior professionals. we look for people with passion. During an interview. We have yet to find the limits of responsibility that our people are able to assume when given the opportunity to work side by side with our clients. and intellectual curiosity. We like to see people who have done their homework on Goldman Sachs and the more you can demonstrate that. initiative. It’s also an opportunity for you to ask ques- Apply online at www. • Develop lasting relationships with Goldman Sachs executives and senior client executives. energy. we want to know about the ways in which you have challenged yourself to excel. One of the most important things to remember is to just be yourself—we don’t want to hire someone who’s acted throughout an interview. MESSAGE tO MbA CANdIdAtES: As stated in our Business Principles. where you have served as a team leader or an active team participant.uk/company/gs/events. ON-CAMPuS EvENtS CALENdAR https://filesv7. either about our firm. Also essential is an ability to work as part of a team in an environment that demands excellence and dedication. The first interview is designed to help us get to know you and determine your suitability for a particular area of the firm. Have a few questions ready. • Work hard as a member of both a specific team and the greater Goldman Sachs team. the better. hOw tO APPLY Check out gs. We seek professionals who have personal integrity. At the associate level. While we want to find out about your motivation and ability. • Engage in entrepreneurial opportunities. • Travel globally. leadership qualities.” This principle is put into practice through formal and on-the-job training. and instances in which your innovation and creative thinking have generated successful outcomes. thE COMPANIES YOu NEEd tO KNOw AbOut 79 . Goldman Sachs has a breadth of businesses that offer our people a variety of different opportunities at all levels across all regions and business areas. industries or firm business functions. relax! You are there because you are intelligent and well qualified—you just need to demonstrate it.

we have broadened our Asian operations by opening new offices in the major hubs. Goldman Sachs is one of the leading employers in the UK and has grown successfully to become a leading investment banking. We provide innovative services and products to the local markets. and Singapore. Our business principles are rooted in integrity. and other major European cities. and motivate people from many backgrounds and perspectives. and your comfort with numbers and quantitative analysis. securities and investment management firm. Hong Kong. Message to international students: As the global environment becomes ever more competitive. and Goldman Sachs’ presence here is significant and growing. Tokyo. built on teamwork and excellence. We will also ask you to talk about your leadership skills. we have three major hubs in Asia: Beijing. That means we must attract. both for the benefit of the firm and in order to more successfully meet the needs of our clients. non-profit organizations and high-net-worth individuals. Outside of Japan. we offer opportunities to candidates across all Goldman Sachs lines of businesses. Since the 1983 opening of our Hong Kong office. The first–round interview is also an opportunity for you to ask questions about us. and to create opportunities that merit the trust they place in us. Learn more about our international opportunities at www. Mumbai. especially if your prior work experience is in a different industry. Madrid. During the second and subsequent rounds of interviews. intellectually stimulating opportunities to individuals with energy and vision.gs. MESSAGE tO wOMEN/MINORItIES GOLdMAN SAChS Recruitment into Goldman Sachs has a single guiding principle. what motivates you. Milan. We conduct our business in increasingly complex markets. We will ask questions about projects you’ve completed. be prepared to discuss your interest in a career at an investment bank. we recognize that our ability to maintain and strengthen our edge requires a diverse workforce that can offer the widest possible range of perspectives. and Shanghai. performance and service in the investment banking and securities industry in the region for over 30 years. Seoul. and we maintain significant offices in London. For us to be successful. a commitment to excellence. teams you’ve served on and the roles you’ve played within them. Goldman Sachs has been setting the standard for innovation. and the most important things you do in your free time. and teamwork. innovation. and investment management firm in Europe. Our people must continually find new ways to provide access to capital. finding the most innovative and creative solutions to our clients’ needs will remain the most important competitive advantage for our business. Asia is one of the most economically diverse regions in the world. Moscow. Dubai. We believe that our culture. securities. meritocracy. our men and women must reflect the diversity of the communities and cultures in which we operate. either through your work experience or extracurricular activities. institutional investors. We hire international students into many of our offices. Our European offices bring together a diverse group of professionals who help create a dynamic and challenging environment in which to work. affords opportunities for everyone to have an important impact on the building of our businesses. Our headquarters is in New York. These values enable us to execute successfully a business strategy focused on extraordinary client service and superior long-term financial performance for our shareholders. as well as in Taipei.com/careers. 80 thE COMPANIES YOu NEEd tO KNOw AbOut . governments. This area already has an established presence in the global economic community. retain. In these offices. We make an unusual effort to identify the very best person for every job and we are committed to providing equal employment opportunity to all qualified persons. Paris. your ability to be a team player. We often point to examples you’ve cited on your online application so you should be prepared to discuss what you listed there. Goldman Sachs opened its first European office in 1970 in London and now has affiliated offices in Frankfurt.COMPANY PROFILES We might ask you about the skills you have acquired. we will continue to assess your compatibility with the firm and test your knowledge of the industry. Also. Goldman Sachs offers long-term. Frankfurt. creating a wealth of talent and creativity where exceptional individuals work together to provide a world-class service to a broad spectrum of clients. manage risk and provide investment opportunities for our clients to enable them to realize their goals. Our people represent more than 150 nationalities and we speak over 84 different languages. OvERvIEw OF OuR COMPANY Goldman Sachs is a global investment banking. CORPORAtE MISSION ANd/OR StRAtEGY Goldman Sachs has long sustained a commitment to hiring and training outstanding leaders. Hong Kong and other financial centers around the world. Bangalore. offering distinctive capabilities to help them capitalize on opportunities worldwide. We are constantly striving towards a more diverse workplace. At Goldman Sachs. We judge ourselves on our ability to help clients anticipate and respond to changing market conditions. We provide a wide range of services to a substantial and diversified client base that includes corporations.

Securities Services. a German immigrant to New York City. Trading and Principal Investments and Asset Management and Securities Services—in markets throughout the world. For more information about our history visit www. we know that without the best people. that includes corporations. We are dedicated to complying fully with the letter and spirit of the laws. in lower Manhattan. We make an unusual effort to identify and recruit the very best person for every job. we constantly strive to find a better solution to a client’s problems.com.gs. financial institutions. MANAGEMENt/OFFICERS Lloyd C. securities and investment management firms. hOw wE ARE ORGANIZEd www. Mr. Our continued success depends upon unswerving adherence to this standard. his son-in-law Samuel Sachs joined the firm as did his son. President and Co-Chief Operating Officer CLIENtS/INduStRIES SERvEd Goldman Sachs provides a wide range of services worldwide to a substantial and diversified client base. Significant employee stock ownership aligns the interests of our employees and our shareholders. as his firm and its reputation grew. Although our activities are measured in billions of dollars. After more than a century as a private partnership. non profits and high net worth individuals. we would. 8. governments. Asia and Japan. Chairman and Chief Executive Officer Gary D. The activities of our Trading and Principal Investments segment are divided into three categories: Fixed Income. While recognizing that the old way may still be the best way. and Commissions. we cannot be the best firm. retain and motivate people from many backgrounds and perspectives. we have found that team effort often produces the best results. rather be best than biggest. In a service business. we select our people one by one. We pride ourselves on having pioneered many of the practices and techniques that have become standard in the industry. Equities and Principal Investments. Currency and Commodities. the last is the most difficult to restore. Our experience shows that if we serve our clients well. capital and reputation. building our capital. Europe. 7. Our clients’ interests always come first. That means we must attract. We have an uncompromising determination to achieve excellence in everything we undertake. Blankfein. The activities of our Asset Management and Securities Services segment are divided into three categories: Asset Management. The activities of our Investment Banking segment are divided into two categories: Financial Advisory and Underwriting. Though we may be involved in a wide variety and heavy volume of activity. GOLdMAN SAChS thE COMPANIES YOu NEEd tO KNOw AbOut 81 . 3. 6. We stress teamwork in everything we do.G COMPANY hIStORY LINK tO bASIC FINANCIALS In 1869. Being diverse is not optional. Goldman pioneered the use of short-term unsecured corporate debt securities-. If any of these is ever diminished. We have no room for those who put their personal interests ahead of the interests of the firm and its clients. and attracting and keeping our best people. We offer our people the opportunity to move ahead more rapidly than is possible at most other places. dESCRIPtION OF GLObAL PRESENCE Goldman Sachs operates in key regions worldwide: the Americas. our men and women must reflect the diversity of the communities and cultures in which we operate.gs. our own success will follow. Our strategy is to grow our core businesses—Investment Banking. 2. Advancement depends on merit and we have yet to find the limits to the responsibility our best people are able to assume. We take great pride in the professional quality of our work. Cohn. President and Co-Chief Operating Officer Jon Winkelried. In the 1880s. 4. While individual creativity is always encouraged. Our assets are our people. All business at Goldman Sachs is conducted in accordance with our 14 Business Principles: 1. Marcus Goldman. Our commitment to our clients is rooted in Goldman Sachs’ distinctive culture and has been the firm’s foundation and fuel throughout our 136-year history. 5. it is what we must be. Our goal is to provide superior returns to our shareholders. We stress creativity and imagination in everything we do. the firm became a public company in 1999. if it came to a choice. Profitability is critical to achieving superior returns. rules and ethical principles that govern us. For us to be successful.during a time of tight credit in his one room office on Pine Street.com FOuNdING PRINCIPLES We seek to be the advisor of choice for our clients and a leading participant in global financial markets. hOME OFFICE LOCAtION Goldman Sachs is headquartered in New York City. founded one of the world’s oldest and largest investment banking. across all industries.commercial paper as it became known -.

The dedication of our people to the firm and the intense effort they give their jobs are greater than one finds in most other organizations. the intimacy and the esprit de corps that we all treasure and that contribute greatly to our success. Integrity and honesty are at the heart of our business. LINK tO EMPLOYEE PROFILES Argentina.g. or you may be responsible for a particular industry. complemented by formal training. We consider our incoming associate class to be a key pipeline for leadership positions and offer associate hires significant responsibility in supervising analysts and working closely with Vice Presidents and Managing Directors. which is true. Taiwan. Italy. 11. New Zealand. however. IL. travel globally. Spain. and we aggressively seek to expand our client relationships. a new associate may expect to: receive on-the-job learning. dESCRIPtION OF OFFICE CuLtuRE LINK tO RECENt NEwS gs. We think that this is an important part of our success. Germany. quickly assume significant responsibilities for products. We consider our size an asset that we try hard to preserve. Australia. intensity and excitement of our business. AbOut OuR PEOPLE Summer associate positions are offered to students between their first and second years of business school or a graduate program. though challenging.. 12. PA. 14.a desire to excel. Canada. you may quickly assume product or client responsibilities. and provides an opportunity to succeed through a teamwork-based environment. South Africa.COMPANY PROFILES 9. Russia. work experiences and personal interests thrive at our firm because they are all united by something unique . well beyond business or finance. engage in entrepreneurial opportunities. NJ. Japan. the Goldman Sachs MBA Fellowship is designed to increase the level of interest in and awareness of careers in the industry among Black. Sweden. It’s an environment that fosters leadership. India. develop lasting relationships with Goldman Sachs executives and senior client executives. not with one another. Brazil. New Associates at Goldman Sachs are an integral part of our business. MBA). To breach a confidence or to use confidential information improperly or carelessly would be unthinkable. 10. We regularly receive confidential information as part of our normal client relationships. you will find people with all various skills and backgrounds. The atmosphere is collegial and supportive. Singapore. yet small enough to maintain the loyalty. MA. Mexico. Ireland. we are competitive in the marketplace. both professionally and personally. WA COMMON INtERNAtIONAL hIRING LOCAtIONS: Across every division of Goldman Sachs. both in their work for the firm and in their personal lives. However. client. hIRING LOCAtIONS CA. Spending a summer at Goldman Sachs tackling real projects is a wonderful way for you to discover the diversity. Number of summer hires (interns): N/A COMMON u. We expect our people to maintain high ethical standards in everything they do. 13. Depending on the division. UK. Korea South. Thailand. People with diverse educational backgrounds. It’s inherent within the environment – we challenge one another to grow and exceed our own limits. Number of full time hires: N/A SuMMER POSItIONS (INtERNS) Working at Goldman Sachs means being a part of a community that offers constant support. to challenge themselves and to push their own professional boundaries to seek new successes. Hispanic and 82 thE COMPANIES YOu NEEd tO KNOw AbOut . We constantly strive to anticipate the rapidly changing needs of our clients and to develop new services to meet those needs. NY. China. TX. FL. The firm is known as being extremely competitive.S. France. GA. In most divisions. UT. We want to be big enough to undertake the largest project that any of our clients could contemplate. United Arab Emirates. we must always be fair competitors and must never denigrate other firms.com FuLL-tIME POSItIONS GOLdMAN SAChS New Associate positions are filled by those with two to five years of work experience and/or an advanced degree (e. Monaco. Our business is highly competitive. USA SPECIAL PROGRAMS Goldman Sachs offers three programs for business school students from traditionally underrepresented groups: MbA FELLOwShIP gs. We are always looking for the best people to hire and the summer associate program acts as an important feeder for the firm’s full-time hiring. Switzerland.com/careers Initiated in 1997. industries or the firm’s business functions. We know that the world of finance will not stand still and that complacency can lead to extinction.

known for its No. we meet potential candidates for summer associate positions months in advance of the formal interview process. In addition to the standard health and welfare. GS CAMP OuR COMMItMENt tO thE COMMuNItY Goldman Sachs Camp provides an opportunity for black. The two-and-a-half day program includes case studies. Calif. GOOGLE GOOGLE Jungle Profile uRL www. This one-day program in New York is a great opportunity to network with Goldman Sachs people and receive advice from alumni about the recruiting process and career opportunities at our firm. has awarded grants of $94 million since it’s inception. To learn more about our divisions and our people. parental leave. Google has offices throughout the Americas. As part of that commitment. and University of Pennsylvania Wharton School. providing opportunities for young people in more than 20 countries. Duke University Fuqua School of Business. Founded in 1998 by Stanford University PhD students Larry Page and Sergey Brin. we are proud to sponsor the Wellness Exchange. and retirement programs.G Native American business school students. 1 ranked search engine. Goldman Sachs recognizes the power and visibility that we have in the world and seeks to be a positive force. Through the Wellness Exchange.com OFFICE hEAdQuARtERS Mountain View. Our goal is to assist employees in optimizing their worklife balance and to enhance their quality of life. This global initiative gives our high performers opportunities both to work in a non-profit organization for up to one year and to develop their leadership skills in a new environment. Through the program. University of Chicago Graduate School of Business. Goldman Sachs offers fellowships to students at target graduate business schools annually. a global initiative that supports healthy lifestyles. our Community TeamWorks program gives members of the firm a day off to work with colleagues in community service programs in every city we have an office. Chairman and CEO dESCRIPtION Projects at Goldman Sachs vary by divisions. The Goldman Sachs MBA Fellowship is offered at the following schools: Columbia Business School. dental. In 2004 we launched The Public Service Program (PSP). Additionally. Hispanic and Native American students to explore the investment banking industry before entering business school. career workshops and social events. Harvard Business School. participants will be exposed to the key areas of the firm and senior inspirational role models. The PSP underscores our commitment to develop our most valuable resource. founded in 1999. OuR COMMItMENt tO OuR PEOPLE Goldman Sachs offers a competitive benefits and compensation package for all employees. Northwestern University Kellogg School of Management. and adoption assistance. thE COMPANIES YOu NEEd tO KNOw AbOut 83 . dESCRIPtION OF tYPICAL PROjECt As a company with offices in more than 25 countries and 40 cities around the world. Goldman Sachs also supports numerous other initiatives. We take seriously our commitment to building strong relationships in the communities in which we live and work.com. our people and expands the platform for them to be catalysts for change in their communities. divisional presentations. visit www. while enhancing the overall web experience for users. Europe and Asia. Stanford Graduate School of Business. we offer such benefits as on-site fitness centers. University of Michigan Ross School of Business. such as the Global Markets Institute and the Community Capital Group. Google today is a top web property in all major global markets. For more information about our programs visit gs. Google’s targeted advertising program provides businesses with measurable results. PhONE 650-618-1806 MANAGEMENt Eric Schmidt.com/ careers. networking sessions and panel discussions. wOMEN’S SuMMIt FOR FIRSt-YEAR MbA StudENtS Through an interactive program of presentations. University of California at Los Angeles Anderson School of Management.gs. The Goldman Sachs Foundation. Through this event. Massachusetts Institute of Technology Sloan School of Management. The Wellness Exchange offers a comprehensive selection of programs to address the diverse needs and interests of employees.google. on-site health centers.

you can apply at recruiting@harrahs. We concentrate on building loyalty and value for our customers. marketing. emotional intelligence. we have four divisions that manage our prop- 84 thE COMPANIES YOu NEEd tO KNOw AbOut . Harrah’s Entertainment owns or manages through various subsidiaries more than 40 casinos in three countries. COMPANY hIStORY We have exciting opportunities for first. with the goal of becoming our customers’ overwhelming first choice for casino entertainment. shareholders. Las Vegas-based Harrah’s Entertainment. with over 40 properties in seven countries. leadership. and human resources. please follow the normal procedures.com tICKER HET AddRESS One Caesar’s Palace Drive Las Vegas. primarily under the Harrah’s. and communities by being the most service-oriented. If we do not visit your school. business partners. We look forward to international expansion in the near future. finance. geographically diversified company in gaming.com. Vice President of Leadership INduStRY General Management Hospitality Human Resources Marketing/Brand Management Media/Entertainment whAt’S NEw we don’t visit your school. NV 89109 PhONE 702-407-6000 CONtACt Susan Hailey. If you have the chance to talk with someone who has completed one of our programs. integrity.COMPANY PROFILES [h] hARRAh’S Company Profile uRL www. GENERAL INtERvIEw AdvICE Do some research on the industry and the company. We intend to hire double digit numbers of MBAs this year into a variety of leadership development programs. you can send resumes to recruiting@harrahs. We offer several rotational leadership development programs across multiple geographies. hOw tO APPLY If we recruit on-campus at your school. whAt wE LOOK FOR Passion. dESCRIPtION OF hIRING PROCESS Founded in 1937 by Bill Harrah in Reno. Nevada. We are the only gaming company that has actively recruited MBAs on-campus for more than 20 years. We provide great customer service in exciting and entertaining environments. hOw wE ARE ORGANIZEd Representatives from Harrah’s come on campus in the fall for presentations and again in early spring for interviews.and second-year students in the area’s of general management. Sponsor for H-1B visas: No OvERvIEw OF OuR COMPANY hARRAh’S Harrah’s is now the largest and most geographically diverse gaming company in the world. employees. analytical thinking MESSAGE tO INtERNAtIONAL StudENtS We are currently not sponsoring visas but this may change as we pursue opportunities abroad. technology. Inc. CORPORAtE MISSION ANd/OR StRAtEGY Each of our brands will be the overwhelming first choice for casino entertainment of its targeted customers. hOw/whY wE ARE dIFFERENt Our strategy is to provide unparalleled customer service to differentiate our gaming entertainment offerings. flexibility. that’s a great way to learn more.com. We are having more fun than ever! MESSAGE tO MbA CANdIdAtES Founded in 1937. Vice President Talent Acquisition Christine Rury. and Horseshoe brand names. is the world’s premier provider of branded casino entertainment. If In addition to our corporate offices in Las Vegas and Memphis. Caesars.harrahs.

UK. IL. operating more than 1. TN dESCRIPtION OF tYPICAL PROjECt www. NJ. MO. Eastern (Chicago/Atlantic City). PA. chairman and CEO dESCRIPtION A high-performing culture driven to produce results and fun! AbOut OuR PEOPLE We are a work/hard and play/hard environment. MS. KS. dESCRIPtION OF OFFICE CuLtuRE Brand re-positioning of a property. AwARdS wON Numerous in the areas of IT. dESCRIPtION OF GLObAL PRESENCE AddItIONAL RESOuRCES Casinos in Ontario. in 1978.com OFFICE hEAdQuARtERS Atlanta.Gary Loveman CLIENtS/INduStRIES SERvEd Number of full time hires: 15-20 Number of summer hires (interns): 15-20 Percent of last summer hires extended full time positions: 80% COMMON u. industry’s first-ever broadcast advertising campaign focused specifically on responsible gaming. The Harrah’s advertising code also strictly prohibits marketing to minors. and International (London and Hong Kong). Nevada MANAGEMENt/OFFICERS CEO .h erties: Western (Las Vegas).800 stores across North America. thE COMPANIES YOu NEEd tO KNOw AbOut 85 .com FOuNdING PRINCIPLES Harrah’s commitment to responsible gaming led to the development of the U. IA. Central (Memphis). The Harrah’s Marketing and Advertising Code is more stringent than the current voluntary American Gaming Association guidelines. Canada. from its 1937 founding to the present. Home Depot was founded in Atlanta. LA. Spain. Ads featuring CEO Gary Loveman explain the importance of responsible gaming and how responsible gaming is an important part of our Code of Commitment. PAs are promoted to Managerial roles.S. has detailed the history and business strategy of the Harrah’s casino organization. NV. hOME dEPOt Jungle Profile uRL www. hIRING LOCAtIONS Adult Consumers LINK tO bASIC FINANCIALS AR. The company targets both do-it-yourselfers and professional customers who serve the home improvement construction and building maintenance market segments. Gaming.homedepot. and Slovenia. This book provides a fascinating look inside the gambling industry. hIRING INFORMAtION Las Vegas. and Egypt. CA. South Africa. CRM Marketing. Shook. PROFESSIONAL CAREER PAth hOME dEPOt After a one–year rotation through several facets of our business and successful performance. a prolific business writer.S. Uruguay. but not themselves. The Harrah’s Code of Commitment seeks to promote responsible gaming among Harrah’s customers. and has since become the world’s largest home improvement retailer. Analysis of entertainment venues to increase revenue and profitability. NC. Development projects in the UK. Bahamas. Our people take their work seriously. IN. GA PhONE 888-818-9934 MANAGEMENt Frank Blake. Macau. hOME OFFICE LOCAtION “Jackpot” By Bob Shook How does one casino differentiate itself from another? Harrah’s does it by developing customer loyalty instead of theme casinos. The goal is to groom PAs for roles in senior general management. and codifies the company’s commitment to employees and the communities where Harrah’s casinos are located. and contains specific guidelines related to virtual casinos and Internet sites. and Community and Government Affairs.harrahs.

the Middle East. NJ 08933 PhONE 732-524-0400 INduStRY Health care MESSAGE tO MbA CANdIdAtES We recruit graduate business students for positions in the U. Please contact your Career Services/Placement Office for possible oncampus events at your school. NY PhONE 212-525-3760 MANAGEMENt Michael Geoghegan. the nature of our products. Johnson & Johnson targets MBA or master’s degree-level students through a highly selective recruitment process at top-ranked universities. In theWestern Hemisphere (excluding the United States). We also participate in the annual conferences for organizations such as the National Black MBA Association and the National Society of Hispanic MBAs. resources. Africa. Please visit us at our recruiting booth during the career fair portion of these conferences. 86 thE COMPANIES YOu NEEd tO KNOw AbOut .com/careers whAt wE LOOK FOR hSbC SECuRItIES Johnson & Johnson companies seek people with demonstrated leadership potential.com/careers tICKER JNJ AddRESS One Johnson & Johnson Plaza New Brunswick. People are energized and empowered toward innovation. jnj. people get excited about their work. and individuals can really make a difference. Careers here can be platforms for making a difference in people’s lives.S. [j] jOhNSON & jOhNSON Company Profile uRL www. Please explore the Career Opportunities section at www. along with a strong base of education and skill in their functional career areas. and the AsiaPacific Regions. technical know-how. providing personal financial services. commercial banking. At the same time. corporate. MESSAGE tO INtERNAtIONAL StudENtS Each Johnson & Johnson company around the world has responsibility for its own staffing. with the feel and flexibility of a small company. Group Chief Executive dESCRIPtION extraordinary growth opportunities stimulate employees to be very active and spirited contributors. Latin America.jnj.hsbcnet.jnj. investment banking and markets. and world-class leadership development capabilities. We know of no more fertile ground for growing a meaningful and satisfying career. U. headquarters in New York. The pace of our business. dESCRIPtION OF hIRING PROCESS jOhNSON & jOhNSON HSBC Group is one of the largest banking and financial services organizations in the world. our big-company impact provides stability. The environment is entrepreneurial and team-oriented. and the Respecting our employees as individuals by honoring their differences and similarities is a value deeply embedded in Our Credo.com/careers hOw tO APPLY You may apply for positions with Johnson & Johnson operating companies through the Career Opportunities section at www.COMPANY PROFILES hSbC SECuRItIES Jungle Profile uRL www. Our International Recruitment & Development Program supports international operating companies through the recruitment of university students studying outside their home country.S. It is the fair and ethical thing to do. University students are sourced for positions in Europe. and private banking.com OFFICE hEAdQuARtERS London. MESSAGE tO wOMEN/MINORItIES Throughout the Johnson & Johnson Family of Companies. primarily through on-campus visits and interviews conducted by our operating companies.

hOw/whY wE ARE dIFFERENt The entrepreneurial spirit is alive and well at Johnson & Johnson. The more than 250 Johnson & Johnson operating companies employ over 122. Ortho-Clinical Diagnostics. and have a positive impact on communities and the environment. joint replacement. Ortho-McNeil. pharmaceutical. On ForTune’s global “Most Admired List”.jnj. Our global affiliates include names such as McNeil. MANAGEMENt/OFFICERS William C. education. Johnson & Johnson grew rapidly into an international enterprise that now impacts nearly every area of global health care. Caruso. Developing strong. In 1943. ethical business practices and a strong spirit of innovation that has kept us on the cutting edge of medical science and technology since the company’s founding. endoscopic surgery. LifeScan. selling products throughout the world. and medical devices and diagnostics markets. for the consumer. and to that end we leverage the resources of a global business leader to achieve big-company impact through world-class leadership development.3 billion in sales in 2006 and.j and it is good for business. At the same time. dESCRIPtION OF GLObAL PRESENCE • Barron’s – Most Respected Company (2006) • Human Rights Campaign Foundation – “One of the Best Places to Work” because of its commitment to equality in the workplace (2006) • ForTune magazine – Johnson & Johnson has been listed in the ForTune “America’s Most Admired Companies in 2006”. innovative leadership is one of our top priorities. Johnson & Johnson Consumer Products. Poon. Chairman of the Board and CEO Dominic J. where individuals matter and make a difference. maintain outstanding facilities. 1 Company for Leaders (2003) • Family Digest magazine . Ethicon. LINK tO EMPLOYEE PROFILES jPMORGAN http://www. health and wellness programs. landmark development in the history of modern medicine). and in order to develop the next generation of leaders. Johnson & Johnson ranked ninth overall as well as second in the pharmaceutical industry. Johnson & Johnson finished fourth. a living document that guides our business practices as strongly today as it did in the mid-20th century.500 men and women in 57 countries and sell products throughout the world. (2006) • Working Mother magazine – One the Top Ten Best Companies for Working Mothers (2005) • Black Collegian magazine – the second most “ideal employer” (2005) • Chief executive magazine – No. through its operating companies. Weldon. we need talented individuals who can bring a broad range of thoughts and experiences to meet the challenges of our global business. treat our employees well. Janssen Pharmaceutica. Neutrogena.com. Our small-company environments allow employees to own their portion of the business and to feel their impact on the bottom line. gastrointestinal medicine. wound jPMORGAN Company Profile uRL www.com/careers Johnson & Johnson has more than 250 operating companies in 57 countries. OvERvIEw OF OuR COMPANY management.jnj. and life-enhancement for people with disabilities. Board of Directors dESCRIPtION OF OFFICE CuLtuRE Johnson & Johnson achieved $53. cardiology. a place higher than last year’s fifth. AwARdS wON Founded in 1886 as a manufacturer of ready-to-use antiseptic surgical dressings (a critical. Vice Chairman. as well as a provider of related services. biotechnology. is the world’s most comprehensive and broadly based manufacturer of health care products. and others that are widely respected by professionals in specialized fields such as vision care. we are able to leverage our big-company resources to achieve competitive advantage. Our long-term growth and success are based on solid. Vice Chairman. In order to provide innovative health care solutions for our diverse worldwide markets. and Chief Financial Officer Christine A.ranked Johnson & Johnson as one of the top 10 Best Companies for African Americans to work for within the United States (2003) • See many more awards listed at www. the shared values of the company were codified in Our Credo. and a satisfying work-life balance for our employees. benefits.com/careers thE COMPANIES YOu NEEd tO KNOw AbOut 87 . COMPANY hIStORY Our work environment has the feel of a small company. Board of Directors.jpmorgan.

000 students are now playing globally. and communication skills we look for in top candidates. JPMorgan’s online trading competition is back again this October 1 through November 30.com/goodventure. whose side will you be on? FantasyFutures. we look for the sharpest minds and the best talent at top schools worldwide. 1 globally in investment banking fees banking fees for 2006 (Dealogic). of course. respected. If you are one of these short- Every day. JPMorgan is driving the future of global finance. In 2006. NY 10017 PhONE 212-270-6000 INduStRY Investment Banking Sales and Trading Research whAt’S NEw listed teams. and influential investment bank in the world. On our website. which gives talented Black. we advised on four of the top five deals announced globally. We look forward to receiving your résumé and getting to know you. You will generally be told how you’ve done within 48 hours. Play and compete this fall for weekly prizes. we achieved a top-three ranking in each of our core markets. and networking events with our campus teams. but who reflect our firm’s spirit and culture. It’s not over yet. panel discussions. as well as to ease any stress you might experience. dESCRIPtION OF hIRING PROCESS: jPMORGAN We visit top schools throughout the United States seeking individuals who are not only the best and brightest.com/fantasyfutures to play. Second-round interviews take place within a few weeks depending on the businesses. This year. It’s a great way to test your trading skills. analytic. On-campus interviews for second-year MBA students take place in late fall. JPMorgan will choose the best submissions. We also ranked us No. including a trip to New York City and a private tour of our trading floor. with some $890 billion worth of transactions. 2007. impress our traders and learn something new. You choose an existing non-profit organization and put a team together to make your case. you will be invited to JPMorgan headquarters in New York City to present your case in the final round to a panel of senior judges.000 of investment funding directly to your chosen cause. MESSAGE tO MbA CANdIdAtES Our strategy is now starting to pay dividends. To learn more. For information and to sign up. It’s also a great opportunity to network with the business community and practice exactly the kind of teamwork. and we’ll tell you if you’ve got an offer shortly thereafter. explaining why your cause deserves funding. We look to enhance your skills and foster your development from your first years as an Associate throughout your career. and hopefully you’ll be invited to a secondround interview. The grand prize is an international visit to JPMorgan headquarters in London or Hong Kong – your choice Check out jpmorgan. If you see yourself at the forefront of progress and success. We hope this information will help you get to know us and to discover the many reasons why this is where you need to be. In our ongoing effort to help you make the best career decision possible. The first-year MBA recruiting process begins after the New Year.com/launchingleaders. JPMorgan launched the JPMorgan Launching Leaders MBA Scholarship program. Do you know of a worthy cause that deserves some serious investment? JPMorgan is sponsoring Good Venture. To stay at the cutting edge. this is where you need to be.COMPANY PROFILES tICKER JPM AddRESS 270 Park Avenue New York.. we were able to claim a massive 23% share of the global M&A market. risk magazine has named JPMorgan the Best Derivatives House in the industry over the past twenty years and the best ‘Credit Derivatives . please visit jpmorgan. And if your team wins? JPMorgan will provide $25. visit jpmorgan. In the same year. Our ultimate ambition is to seize and sustain a position as the most profitable. Hiring the best and brightest does not end with simply finding talented people to join us. you can find interviewing tips to give you some background on the process. It takes time for the figures to come through and longer still for the trends to become clear.a Pioneer and Modern Great’. Compose a short proposal. This is a competitive sector and we have a fight on our hands. a case competition that offers you the chance to make a difference to a nonprofit that you’re passionate about. Hispanic and Native American students the chance to fulfill their career ambitions and carve out an outstanding reputation with one of the world’s leading innovators in banking and business. The question is. More than 6. we also offer trading simulations and case competitions at many schools. Vault voted JPMorgan best training program out of all Investment and Commercial Banks for 2008. and we are on our way. The recruiting process begins in the fall with a variety of on-campus informational events including presentations. Interviews generally take place on campus and consist of 88 thE COMPANIES YOu NEEd tO KNOw AbOut . In fact. We provide development opportunities and to work on high-quality assignments in a team environment that will undoubtedly ensure your success and enrich your journey along the way.

Above all. we have different challenges in different regions. we’ll let you know about the hiring decision within 48 hours of the first interview. The first–round interview is generally 30 minutes in length. We will ask you to tell us about yourself. ethical. and of course. We want to enrich our culture and our business through hiring unique. It is the one thing that only you can offer. Below is a sneak peek at sample questions: • Tell me about a significant assignment from either school. What are the issues you would consider in valuing it? • Which is more expensive – debt or equity? Why? • Have you ever worked in a job dealing with clients? Tell me about the most difficult client you’ve had. so you can apply for the roles in the location that you want to work. what you could gain from the opportunity and how you would contribute. your interests and your experiences during the interview. Where you start is not necessarily where you end up. This means that programs. Like you. which will help to keep you up to date on what’s happening at JPMorgan. please visit the Advice Center at jpmorgan. and their profiles will give you a realistic perspective of what it is like to work at JPMorgan. teamwork. The best source of information about our firm will often be your own classmates and alumni who currently work at the firm. an extracurricular activity or job where you worked with others. What did you do? What was the best client experience you’ve had? What did you do? For more interviewing tips. COMMON INtERvIEw QuEStIONS We ask different types of questions to evaluate you on the basis of a variety of skills. the details of our programs are organized by region. team-oriented. hOw tO APPLY Check out jpmorgan. whAt wE LOOK FOR worth bearing in mind that we need globally versatile professionals and there are opportunities for international career development. exceptional people. We have offices in more than 50 countries and are considered to be a “local” investment bank throughout Europe. or work experience that represented a significant challenge to you. and many thE COMPANIES YOu NEEd tO KNOw AbOut 89 . To read what our people have to say about working here. innovative. and leadership. market and industry knowledge. and leadership skills. In addition to these qualities. They will be great resources for you to figure out whether JPMorgan is a good fit. so be yourself. and that you operate with a sense of urgency. We want to meet people who are intellectually curious. • You are advising a large technology company on an acquisition of a smaller niche technology company. We hire the majority of our full-time class through our summer program. Also. your interview is the best time to have them answered. we will be prepared to answer your questions about us. • Tell me about a time when you had to work with a difficult person or someone who was different than you. we want you to want to work at JPMorgan because you understand our mission and view us as the best fit for a successful career path. We encourage you to come prepared with questions in mind. • Tell me about a course project.com/careers GENERAL INtERvIEw AdvICE It is important to come to the interview with a solid understanding of the area you are applying to and why it suits your interests and career aspirations. We want to learn as much as we can about you. It’s also The revenue from our global business is derived from activity all around the world (approximately 45 percent from outside the United States). roles and career paths can also vary from one part of the world to another. and are able to work in a fast-paced team environment. including your analytical ability. we expect candidates to show that they have well-developed analytical. assignment. Our website also includes recent press. Latin America. Asia. client-focused. You should be able to tell us which program you’d like to join.com/careers for information and specific details about the application process.j two rounds. communication. results-driven. On our website. you will meet with multiple people for several interviews. Your individuality is of the utmost importance and relevance to us. In most cases. During the second round. many of them recently went through the job search process. please visit our website and review the employee profiles. What we mean by client-focused is that you are solution-oriented. MESSAGE tO INtERNAtIONAL StudENtS jPMORGAN We are hiring talent across the world and the opportunities are truly global. This is the natural consequence of being a global bank that operates locally.com/careers. We want you to have demonstrated academic excellence and to have had solid work experiences. In return. While the values and the business principles remain consistent. take advantage of the built-in resources designed to help answer your questions and guide you on your job search. extracurricular. ON-CAMPuS EvENtS CALENdAR jpmorgan. judgment.

and we want to draw from the broadest.’ 2006 • ‘Top 50 companies’ by LATInA Style magazine. a Michiganbased civic and community group. We—and our clients—have experienced firsthand the benefits of being actively inclusive. lease visit jpmorgan. 2007 • ‘Top 50 Companies for Diversity’ by DiversityInc magazine. Bisexual & jPMORGAN 90 thE COMPANIES YOu NEEd tO KNOw AbOut . 2007 and previous year • Named a ‘top 10’ family friendly company in Working Mother’s ‘100 Best Companies’ for the past 11 years. developing our employees through a range of professional experiences. Among the accolades we’ve received are: • Top 10 Companies for People With Disabilities’ by DiversityInc magazine. who set the vision and approach for diversity at the firm. 2006 • ‘Top 10 Companies for Executive Women’ by DiversityInc magazine. For hints and tips.. succeed and be rewarded based solely on their capability and character. And. It draws the best talent to JPMorgan and enables people to contribute. including the Investment Bank. sustainable progress. this simply makes good business sense. For example. if you’re an U. operating as a meritocracy. opportunities exist throughout Europe and Asia. Jamie Dimon. we actively recruit employees from around the world. 2006 • JPMorgan was the only investment bank to be named in Vault’s ‘Top 10 Internship Programs. Building a diverse and inclusive work environment requires effort and perseverance.com/goglobal Hire non-US citizens: Yes Sponsor for H-1B visas: Yes MESSAGE tO wOMEN/MINORItIES We are deeply committed to cultivating an inclusive environment where everyone can succeed based on merit. Lesbian.K. As an Equal Opportunity Employer. 2005 • ‘Top 10 Companies for People with Disabilities’ by DiversityInc magazine. 2005 • ‘Top 10 Companies for Latinos’ by DiversityInc magazine. 2007 and six previous years running • ‘Leading Edge Company for LGBT Employees’ by Stonewall. In addition. bisexual and transgender community in the workplace • ‘Closing the Gap Award’ by New Detroit. 2006 and previous five years • ‘Top Companies for Women of Color’ by Working Mother magazine.-based student who wishes to work overseas. If you’re an international student who wishes to work in the United States. managers understand that they are accountable for making measurable. These and other aspects of our culture enable creativity and entrepreneurship to thrive. Different perspectives bring strength and creativity to our work and lead to the best solutions for our clients.COMPANY PROFILES other regions.K. 2006 and previous two years • 100% rating on the Human Capital Index. within the Investment Bank. management compensation is tied to performance against key people objectives. Our CEO. At JPMorgan. 2006 • ‘Top 10 Companies for Supplier Diversity’ by DiversityInc magazine. For us. 2007 • Named a ‘top 10’ company for diversity by DiversityInc magazine. To maintain our international presence. We’re proud of the many honors and awards we’ve earned for our diversity efforts. leads the Corporate Diversity Council: a group of senior leaders from across the company. 2005 • Fortune magazine’s ‘Top 50 Companies for Minorities’. bisexual and transgender employees and customers.’ 2006 • BusinessWeek named JPMorgan Investment Bank 9th in ‘Best Places to Launch A Career. and creating an environment where everyone has the opportunity to succeed and performance is recognized and rewarded based on merit. in The Times’ ‘Where Women Want to Work’ survey. you can apply directly to one of our US-based programs. Our Go Global program exists to promote the opportunities you can take advantage of across the world. we recognize that we are only as successful as our people. responsibility for creating a diverse and inclusive organization begins at the top. Progress on diversity objectives is reviewed monthly by the executive management of the firm and regularly with the Board of Directors. Perfect score for six years running. 2006 • ‘Workplace Excellence Award 2006’ by Out & Equal. which include recruiting the broadest possible pool of talent. We believe no barrier should inhibit an individual from performing to her or his full potential. an evaluation conducted by the Human Rights Campaign to measure how well major corporations treat their gay. 2006 • Named a top 50 employer for women in the U. an advocate group devoted to the lesbian.S. lesbian. 2007 • ‘Top MBA Employers for Women’ by Fortune magazine. gay. for outstanding efforts by JPMorgan Chase to improve economic and social equity between races. an LGBT advocacy organization in the U. and embracing diversity to harness the talent and experience of our best individuals. advance. which is why we make inclusiveness and diversity an integral part of how we manage the company. 2005 and previous six years • ‘Corporate Responsibility Award’ for outstanding leadership in corporate diversity efforts in the workplace from SAGE (Services and Advocacy for Gay. smartest talent pool in the world.

From the rescue of the New York Stock Exchange to the creation of the world’s first billion-dollar corporation. Jr. completeness.000 people working across 100 countries. we leverage our clients. you become part of an enterprise with enormous reach. “First-class business in a first-class way” is how J. That belief has not been lost as the firm continues to be at the forefront of innovations in finance. JPMorgan made things happen. whenever and wherever it’s wanted. JPMorgan is the investment banking arm of JPMorgan Chase. described the firm’s code of ethics and customs two centuries ago. So what does it mean for JPMorgan in the 21st century? The answer is to be found in the day-to-day experiences of our working lives. support networks and training facilities that will help you to do your best.’ 2005 As proud as we are of our achievements and recognitions. the scope for innovation and entrepreneurial growth. or something else entirely. capital raising. size. Many of the reasons you might want to work here The mission of JPMorgan Investment Bank is to be the most profitable.000 people working together around the globe to meet the complex financial needs of major clients including corporations. respected. Morgan. you will be part of a culture that fosters and promotes exceptional achievement.P. our people. innovation. Some of our people work long hours and occasionally through the night. Different people get different things out of JPMorgan: the intellectual challenge of a research analyst’s role is substantially different from the pace and pressure facing an equities trader. COMPANY hIStORY Few companies can claim the same bloodlines JPMorgan has built over the last two centuries. It’s not just that we expect great things of you. scope and influence. There has been plenty of debate on the relative merits of universal banks versus pure-play operators. it’s a fact. They are also essential features of a bank that is known for doing “first-class business in a first-class way. non-profit organizations and wealthy individuals. scale and staying power matter. JPMorgan also participates in proprietary trading and investing and market-making in cash securities and derivative instruments around the world. Today. we have 20. This is not a sales pitch. We’ll encourage you to share your interests in ways that help raise standards on all sides. the opportunities to make a personal impact.j Transgender Elders). private firms. This integrated global capability (sometimes described as “the platform”) allows us to deliver exactly the right solution for clients. a corporate finance specialist or a risk expert. and the accelerated learning and career development. governments. a leading global financial services firm with assets of more than $1 trillion and over 170. experiences. And we can’t stress this enough: the quality of the career opportunities we offer you as an individual is directly linked to the quality of the business we aim to do with our clients. All these are made possible by an integrated service platform that is the winning formula for financial services in a globalizing economy. and influential investment bank in the world for the long term. restructuring. we know that there is always more that can be done. and research. We have managers who have similar roles and lifestyles to those found in any multinational corporation. the advancement of world economy and the development of communities worldwide. while benefiting directly from the resources and opportunities of an integrated global network. This is the bank that built corporate America. it’s about the pride and the job satis- jPMORGAN thE COMPANIES YOu NEEd tO KNOw AbOut 91 . financial institutions. In this environment. To achieve this goal. development and support you need to fulfill your potential. the business is organized to provide professional challenges. and most importantly.. 2005 • #10 on The Black Collegian’s list of ‘Top 100 Diversity Employers. risk management. but there’s never been a better or more exciting time to be joining the team. It’s clear to us that the winners in global finance will be those who can provide their clients with more access to better financial products and services faster than anyone else.” CORPORAtE MISSION ANd/OR StRAtEGY JPMorgan has always set the pace of progress in financial services. Whether you work as a research analyst or a trader. and JPMorgan has what it takes to succeed. Doing “first-class business in a first-class way” is about action and accountability. So when you join JPMorgan. because that’s how we will achieve ours. JPMorgan renders the argument superfluous by capturing the best of both worlds: we have created a space where industry-leading specialists can excel in their own fields of expertise. We offer our clients the most complete and innovative financial solutions in the industry. and we have specialized roles that are absolutely unique to JPMorgan. while others go home at the same time every evening. OvERvIEw OF OuR COMPANY grow directly from our structure and strategy: the volume and quality of the deals we do. We have global leadership positions in all our key areas – mergers and acquisitions advice. and we’ll give you the challenges. “First-class business in a first-class way” is not merely a description of the bank’s culture and reputation. scale.

Obviously you will change. from project management to team leadership. You will spend time learning different parts of the business. develop and evolve as your career unfolds. fresh ideas. We serve over 30. January 2007 & January 2006 2006 International Financing review. you’ll find it at JPMorgan. hOw/whY wE ARE dIFFERENt • Pipeline: steady deal flow that is representative of the global marketplace • Diversity: large variety of client types and needs dESCRIPtION OF OFFICE CuLtuRE jPMORGAN Our name is only worth as much as those of our people. Those great things vary depending on where you go and what you do. NY 10017. and for virtually all of them. July 2007 Best Global Equity Capital Markets House –euromoney. scope. dESCRIPtION OF GLObAL PRESENCE We serve more than 30. AbOut OuR PEOPLE 270 Park Avenue. To hear first-hand from our people. check out our employee profiles at jpmorgan. It is this desire that unites JPMorgan people as a global team. and then better again tomorrow. With ties to more than 90 percent of the Fortune 1. our client base spans the full spectrum. AwARdS wON Our clients are at the center of everything we do. There are some people who are intrinsically motivated to be the best today. The fact is we are very good at turning high-potential individuals into high-performers.000 clients in over 100 countries hOME OFFICE LOCAtION Investment banking is a fast-moving world in which talented people can achieve great things. co-CEO of JPMorgan Investment Bank CLIENtS/INduStRIES SERvEd JPMorgan professionals have a strong work ethic and are energetic.com/careers. New technologies. co-CEO of JPMorgan Investment Bank Bill Winters. but there are plenty more individual reasons. it came down to six key reasons. USA MANAGEMENt/OFFICERS Jamie Dimon.COMPANY PROFILES faction you get from working at JPMorgan. June 2007 Energy Derivatives House of the Year –risk. non-profit organizations. but so will our firm. Our training programs combine on-the-job learning with classroom instruction that is on par with the world’s finest business schools. As a result. you will emerge not only with a firm foundation in your own business area. we asked a great number of JPMorgan professionals why they came and why they stayed. They create a dynamic atmosphere that encourages teamwork and camaraderie while still valuing individual contribution. giving you a multi-dimensional perspective of the company. So when you meet us. from the most prestigious global companies to the fastest-growing entrepreneurial companies. ask us yourself about why we joined and why we stay. and passionate about what they do. CEO of JPMorgan Chase Steven Black. and prestige • Our reputation as a business innovator • The chance to make a personal impact • The quality of training and development • Exceptional quality of work • The spirit of cooperation and teamwork These are the answers everyone agreed on. There has never been a better time to launch a career with JPMorgan. financial institutions. Our client base is important because high-profile clients mean high-profile assignments for you right from the start. changing markets and a pipeline of high-quality work all contribute to making JPMorgan an exhilarating place to work.000 clients in more than 100 countries. We serve private corporations. They are listed below in order of encounter rather than importance. but also broad experience of the bigger business picture and a range of transferable business skills. and institutional investors worldwide. You may be attracted by the prestige and reputation of the name over the door. But if you want responsibility and impact at an early stage in your career. July 2007 #2 Institutional Investor End-User Survey –risk. but you’ll probably stay because of the work and the people: • Our scale. government agencies.000 companies. regardless of the job title on our business cards. Best Credit Derivatives House – Pioneer and Modern Great –risk. That means you get: • Experience: constant opportunities to learn by doing every day • Exposure: opportunities to work with high-profile clients and expert JPMorgan professionals Best Derivatives House over the past 20 years. smart. Review of the Year: 92 thE COMPANIES YOu NEEd tO KNOw AbOut . New York.

Bonds No. Predictably enough. from project management to team leadership.3 Global M&A Announced No. You can learn more about our internship programs on our website. NuMbER OF SuMMER hIRES (INtERNS) Approximately 100 hires in the United States COMMON u. so we commissioned a comparative analysis.1 Global High-Yield Corporate Bonds No.The Banker Here are some of our most recent highlights from 2Q 07: (source: Dealogic/Thomson 2Q 07) Global Loan Syndications No. Delivered by leading professors and specialist consultants as well as our own most experienced professionals.4 FuLL-tIME POSItIONS We have opportunities for exceptional advanced degree graduates who want to make an impact from the start and who want to be part of a firm that is shaping the future of investment banking.j • Global Interest Rates & Commodities Derivatives House of the Year • US Loan House • US High Yield Bond House • US Dollar Bond House • European Equity House • Asia-Pacific Equity-linked House -IFr.2 Global Investment Grade Corp. SuMMER POSItIONS (INtERNS) We know how important it is to you to get the most valuable summer experience possible.1 Global Equity & Equity-related No. We hire the majority of our full-time class through our summer program. • There is a strong sense that individual development is important to the firm. you emerge with a thorough grounding in your own business area. as it will shape your ability to make the right decision after you graduate.3 Global CMBS No. there are several banks claiming to offer “the best training on Wall Street” and other such superlatives. JPMorgan identifies personal development as a core business principle. a sound appreciation of the big business picture and a range of highly transferable skills. hIRING LOCAtIONS CA. IL. However. Our global entry training programs encourage partnership across geographies and increase awareness of international presence and expertise. NY.1 Global Convertible Offerings No. whatever your area of specialization. • Coaching and development are recognized and celebrated as leadership behaviors. The entire learning experience at JPMorgan is calculated to accelerate your progress: we have a vested interest in helping you to meet your career objectives as fast as possible. We wanted to try and clarify what really distinguishes our approach from the competition.S. and transforms highpotential individuals into high-performing professionals. Each business area has its own training structure and syllabus. to equip you for the unexpected opportunities and uncertainties of future leadership. December 2006 #1 in Bond Trading #1 in Investment Grade Bonds .2 Global Long-term bonds No. avoiding the peak-andtrough style of conventional approaches. We offer summer associate programs in the same groups and locations as our full-time opportunities. You should keep in mind that we hire most of full-time associates from our class of summer associates.2 Global Common Stock No. Investment Bank Full-time and Summer Opportunities for MBAs: • Investment Banking • Sales & Trading • Research No matter what area you join you will be able to take advantage of our education programs.1 Global Debt.1 Global Leveraged Loans No. which combine on-the-job learning with classroom instruction that is on par with the world’s finest business schools. TX thE COMPANIES YOu NEEd tO KNOw AbOut 93 . JPMorgan recruits for the following MBA and advanced degree programs. NuMbER OF FuLL–tIME hIRES jPMORGAN Approximately 80 hires in the United States. the JPMorgan curriculum closes the gap between theory and practice. • Learning is made accessible through a diverse array of engaging and time-efficient media. and the details are on our website. • Development is continuous. giving you a global network right from day one. we educate rather than train you. Equity & Equity-related No. Training programs are not just about fitting you for a task and making you productive. so plan ahead. • Training is business-specific and varies widely in style and content between divisions. Here is what sets our programs apart: • The bank’s most senior people are actively and routinely involved in training delivery.

President and CEO [L] LEhMAN bROthERS Jungle Profile 94 thE COMPANIES YOu NEEd tO KNOw AbOut . KPMG L’ORéAL Jungle Profile uRL www. Flynn. Chairman and CEO of KPMG in the U. dESCRIPtION Lehman Brothers was founded in 1850 and provides financial services in equity and fixed income sales.com OFFICE hEAdQuARtERS New York. providing audit. and Tokyo. President and CEO dESCRIPtION LEhMAN bROthERS KPMG is a leading accounting firm. federal agencies.lorealusa. Fuld. and Martin Marietta Corp.S.000 professionals work in KPMG member firms around the world in sectors including government. private equity.S. and high-net-worth individuals worldwide. Department of Defense and other U. we have opportunities in London. NY PhONE 212-526-7000 MANAGEMENt Richard S. Lockheed Martin was formed in 1995 with the merger of technology companies Lockheed Corp. The majority of our full-time opportunities are based in our New York offices.lehman. To help determine which program is best for you or find out when we will be on your campus please visit our website at jpmorgan. Singapore. governments and municipalities.000 people.kpmg. Stevens.com OFFICE hEAdQuARtERS New York.com/careers.com OFFICE hEAdQuARtERS Bethesda. Hong Kong. government.com OFFICE hEAdQuARtERS Amsterdam. More than 113. media.S. and industrial markets. We also offer a few opportunities in California (San Francisco and Los Angeles). and Texas (Houston and Dallas).S. and today employs 140. tax and advisory services in 148 countries. Internationally. LOCKhEEd MARtIN Jungle Profile uRL www. investment banking. The primary customer is the U.lockheedmartin.S. MD PhONE 301-214-3000 MANAGEMENt Robert J. with U. Chairman and CEO dESCRIPtION LOCKhEEd MARtIN [K] KPMG Jungle Profile uRL www. Chairman. we offer PhD & Quant Masters full-time and summer opportunities in Quantitative Research and Fixed Income Strategy. The largest provider of IT services and training to the U. headquarters in New York PhONE 212-758-9700 MANAGEMENt Timothy P. institutional clients. L’OREAL uRL www.. NY PhONE 212-984-4000 MANAGEMENt Laurent Attal. Illinois (Chicago).COMPANY PROFILES SPECIAL PROGRAMS In addition. trading and research. asset management and private equity to corporations. private investment management.

com/careers in the Campus Candidates section. MEdtRONIC A worldwide leader in management consulting. hOw tO APPLY Medtronic is a leader in manufacturing implantable biomedical devices. and ear.S. NY PhONE 212-446-7000 MANAGEMENt Ian Davis. foundations. and strategy. [M] MCKINSEY & CO. check out our global associate thE COMPANIES YOu NEEd tO KNOw AbOut 95 . products for disorders of the spine and cranium. which begins in January. • Emphasis on summer associate positions as the pipeline for full-time offers. The Campus Candidates section of our careers website presents a coordinated view of our opportunities. information about applicable open positions. as well as devices for slow or rapid heartbeats. Medtronic makes defibrillators and pacemakers. therapies for chronic pain and movement disorders. all recruiting information. • For current MBA students. • For MBA graduates. Offers are usually extended by the end of February. For current MBA students. NY 10080 PhONE 212-449-1000 whAt’S NEw MCKINSEY & CO. and throat devices.com tICKER MER AddRESS 4 World Financial Center New York.com OFFICE hEAdQuARtERS Minneapolis. is available at ml. is available at ml.medtronic. The firm also operates the McKinsey Global Institute.com OFFICE hEAdQuARtERS New York.com/ careers in the Experienced and Entry Candidates section. an independent group generating research on economic. L’Oréal has leading brands in every beauty category and distribution channel with focus on hair care. The first and final rounds of interviews for summer associate positions take place on campus during the spring recruiting season. President and CEO dESCRIPtION Merrill Lynch takes a global approach to MBA recruiting. nose. technology management. hair color. cosmetics. MN PhONE 763-514-4000 MANAGEMENt Bill Hawkins. MESSAGE tO MbA CANdIdAtES MERRILLLYNCh MEdtRONIC Jungle Profile uRL www. social. diabetes management systems. managing director dESCRIPtION MERRILL LYNCh Company Profile uRL ml. hIRING PROCESS Merrill Lynch recruiters and business managers visit selected campuses in the fall to meet first-years interested in applying to the firm. Europe. including how to apply. McKinsey offers companies.M dESCRIPtION L’Oréal USA is the leading beauty company in America and the group’s second creative center.mckinsey. and our MBA recruiters in the U. and geopolitical issues. Jungle Profile uRL www. fragrances and skin care. including how to apply.. and foreign governments a full spectrum of consulting services in finance. products for those undergoing cardio vascular bypass surgery. and the Pacific Rim source candidates from all regions at top business schools.

S. The dress code is business-casual year-round. and rewarded for their accomplishments. always challenging. and Research. Merrill Lynch is synonymous with progress. visit the About Us section of ml. The company truly thrives on teamwork at every level and across all divisions. COMPANY hIStORY Typical of Wall Street financial services firms. Be honest and straightforward. For experienced MBA grads. SuMMER POSItIONS Our associate programs offer you the chance to join an organization with a world-class brand.com. MANAGEMENt Do your due diligence. OvERvIEw OF OuR COMPANY Merrill Lynch principles: client focus. IL. the firm can claim more than its share of “firsts”in the financial services industry. Merrill Lynch has driven changes that defined the times—and the future. It is who we are.COMPANY PROFILES opportunities at ml. our fellow employees. respect for the individual. OFFICE CuLtuRE Merrill Lynch is a leading global financial management and advisory company that serves the needs of both individual and institutional clients. Private Client. how we work together as colleagues and how we conduct ourselves as individuals. whAt wE LOOK FOR E. visit the About Us section of ml. and Research. our shareholders. FOuNdING PRINCIPLES MERRILLLYNCh Merrill Lynch is committed to a diverse work environment. and corporate and institutional clients through two world-class businesses: Global Markets & Investment Banking and Global Wealth Management. NJ. hOw wE ARE dIFFERENt Our culture is the sum total of what we believe and think. hIRING LOCAtIONS CA. small and mid-size businesses. responsible citizenship. Our culture emphasizes a meritocracy in which employees are recognized and rewarded based on their performance. you can apply online for specific positions at ml. Merrill. Global Markets. A force for good as well as a household name. Investment Banking. Know our company. Founded in 1914 by Charles E. Stanley O’Neal . While the atmosphere is informal. and to supporting the professional development and career goals of all employees. chairman and CEO • Strong quantitative and analytical skills • Solid oral and written communication skills • Ability to work independently while functioning as part of a team • Additional qualifications appropriate for the specific opportunity MESSAGE tO wOMEN ANd MINORItIES CLIENtS/INduStRIES SERvEd Merrill Lynch serves the needs of individuals and families.com/careers in the Experienced and Entry Candidates section. We offer a diverse range of financial services through our principal businesses: Global Markets & Investment Banking and Global Wealth Management. GENERAL INtERvIEw AdvICE hOw wE ARE ORGANIZEd Merrill Lynch is organized globally around our principal revenue businesses and our core corporate functions. For a complete history. Private Client.com/careers in the Campus Candidates section and apply online for the program that best matches your skills and career goals. We offer you a work environment in which people are measured. TX 96 thE COMPANIES YOu NEEd tO KNOw AbOut . COMMON u. Investment Banking. we foster an environment of mutual respect. our neighbors and the public in general. the pace is often fast. AwARdS wON To learn about awards to Merrill Lynch. We offer clients the broadest product platform in the industry. It is the way we treat our clients. and integrity. AbOut OuR PEOPLE A legacy of leadership and a reputation for innovation characterize Merrill Lynch’s history. recognized. acceptance and flexibility among employees. to attracting and retaining the most qualified employees. NY.com FuLL-tIME POSItIONS Global Markets. and never dull. Always in sync with the growth of the global economy and the move to take personal investment center stage in people’s lives. teamwork. GLObAL PRESENCE Merrill Lynch has a major presence in 38 countries across six continents. Know yourself.

If you’re interested in a career with us. These are often followed by full-day interview sessions at Morgan Stanley’s offices.morganstanley. It provides everything from a history of the firm to our values and awards we have garnered over the years. Next. you should learn as much as you can about our firm in advance.com/about/careers/recruiting/ culture/profiles/index. and ability to work as part of a team.html GENERAL INtERvIEw AdvICE: Morgan Stanley has strengthened its position as a global leader in financial services. shareholders. Singapore. including major corporations. Morgan Stanley representatives can’t visit every school. completed mergers and acquisitions. We are eager to meet candidates from all backgrounds and disciplines. Our Institutional Securities business consistently ranks us No. Our training programs are designed to teach you the basics. Then. complete our on line application for consideration. Campus Recruiting INduStRY High Tech/Telecom Investment Banking Investment Management Real Estate Sales and Trading VC/Private Equity whAt’S NEw: The recruiting process begins in the fall. 2 in global equity underwriting. and agencies. thE COMPANIES YOu NEEd tO KNOw AbOut 97 .M COMMON INtERNAtIONAL hIRING LOCAtIONS Hong Kong. and global debt underwriting. and the most talented people choosing careers in financial services.com tICKER MS AddRESS 1585 Broadway New York. and senior members of the firm to find real-life depictions of roles at www. The first place to start our website. dESCRIPtION OF hIRING PROCESS Merrill Lynch offers an acclaimed benefits package that is competitive with the industry. learn as much as you can about our firm and our people. followed by a second-round either on campus or at a Morgan Stanley site. join us for this presentation. so technical financial skills are less important to us than your intelligence. coming up with new ideas and financial solutions.html whAt wE LOOK FOR Our goal is to be the first choice of clients. UK bENEFItS SuMMARY services and platforms to shape new markets. nonprofit institutions. MORGAN StANLEY Company Profile uRL www. and share personal observations of the firm and why we selected it for our careers. and building new business models in a rapidly changing global economy. Take some time to talk with us.morganstanley. which will include meetings with professionals from a variety of departments. motivated candidates who have a strong interest in business and finance. investors. 1 or No. MESSAGE tO MbA CANdIdAtES To decide if Morgan Stanley is right for you. If our on-campus interviews aren’t offered on your campus. ON-CAMPuS EvENtS CALENdAR www. character. hOw tO APPLY MORGAN StANLEY To apply complete our on -line application. Unfortunately. and we’ll explain the myriad opportunities available at Morgan Stanley.com/about/careers/recruiting/events. full-service approach. when the Morgan StanleyRecruiting Team presents general information about career opportunities at our firm. It providesa good overviewof our businessesandhowwesee ourselves positioned as a worldwide financial services provider. This means constantly developing innovative products. working across product and geographical boundaries to provide clients with the most effective solutions. Japan. Morgan Stanley looks for bright. We seek exceptional individuals who enjoy working with a team of talented colleagues to serve sophisticated institutional clients. governments.morganstanley. Associates. NY 10036 PhONE 212-761-4000 CONtACt Michael Marich. We have continued our integrated. at all levels of seniority. Vice President. read the profiles of current Analysts. First-round interviews are typically held on campus in late fall or early winter.

as well as advice on mergers and acquisitions. or any other characteristic protected by law. hOw wE ARE ORGANIZEd Morgan Stanley is organized into three business units: securities (including investment banking. www. Over the years. age. pregnancy. London. marital status. your opinions. Diversity is fundamental to our corporate culture and to our role as a global leader. Hong Kong. including corporations. veteran status. and research. Morgan Stanley also manages $739 billion of investor assets.html MESSAGE tO INtERNAtIONAL StudENtS and financial restructuring. our diversity and work-life initiatives have received numerous awards from publications and organizations. The firm provides a wide range of services: underwriting. state. products. or your sense of humor at the door. Discover & Co. Europe and Asia. religion. Morgan Stanley has been a leader in financial services. sales & trading and research). A corporate culture that is open and inclusive is fundamental to our role as a global leader constantly striving for excellence in all that we do. Tokyo and other locations. corporate finance. This commitment shows in our recruiting and career development.morganstanley. Our people come from a wide variety of backgrounds and interests—all are high achievers who share integrity. OvERvIEw OF OuR COMPANY Ever since its founding in 1935. sexual orientation. serves affluent and high net worth individuals in the United States. color. Hire non-US citizens: Yes Sponsor for H-1B visas: Yes MESSAGE tO wOMEN/MINORItIES Morgan Stanley’s mission is to build a community of talent that can deliver the finest financial thinking. We are also proud to be known for our record of innovations: in national and international expansion. By valuing diverse perspectives we can better serve our clients while we help our employees achieve their professional objectives. and in our diversity and work life programs that have won many awards. gender. intellectual curiosity and the desire to work in an atmosphere that is less hierarchical and more collegial than many other firms in our business. institutional and investment banking clients. From our recruiting and career development programs. national origin. our people and our firm. The firm has earned a worldwide reputation for the excellence of its advice and execution in financial markets. This is what makes Morgan Stanley a premier employer of choice and a great place to work. This is essential to keeping us at the head of the fast-moving industry where circumstances are constantly changing and clients have much at stake. privatization Individuality is prized and people are encouraged to be themselves. asset management. Morgan Stanley complies with applicable federal. Morgan Stanley is an equal opportunity employer and does not discriminate on the basis of race. Morgan Stanley serves institutional and individual investors as well as investment banking clients. governments and other entities around the world.” taking pride in the firm’s worldwide reputation and entrepreneurial spirit. Our objective is to have an impact on diversity both internal and external to Morgan Stanley. disability. International students are encourage to explore the opportunities available. with opportunities in New York. Morgan Stanley also provides reasonable accommodation to individuals with disabilities in accordance with its obligations under applicable law. Our 1997 merger with Dean Witter. hOw/whY wE ARE dIFFERENt MORGAN StANLEY Morgan Stanley is one of the best-known names in financial services: a global leader in securities. and global wealth management. in the use of technology. engaging.COMPANY PROFILES COMMON INtERvIEw QuEStIONS See our web site for interview preparation tips. asset management and credit services. and enjoyable. trading. These include creating the first computer model for financial analysis and being the first securities firm to use electronic data processing. to our supplier diversity and work-life programs. we see diversity as an opportunity—for our clients. created a unique balance of institutional and retail capabilities. CORPORAtE MISSION Morgan Stanley is a global firm. and local laws prohibiting discrimination in employment in every jurisdiction in which it maintains facilities. and execution in the world. We are proud of a distinguished history that encompasses many landmark financial transactions. If you come to Morgan Stanley you won’t check your identity. our commitment to diversity is unparalleled.com/about/careers/recruiting/apply. and in the development of new financial tools and techniques that have redefined the meaning of financial services for individual. Hard work with good colleagues should not only be financially rewarding but also interesting. People here “think like owners. citizenship. COMPANY hIStORY At Morgan Stanley. 98 thE COMPANIES YOu NEEd tO KNOw AbOut .

www. hEAdQuARtERS Glendale. Chairman and CEO Robert Scully and Zoe Cruz. Co-Presidents Walid Chammah.morganstanley. and advancement. bENEFItS SuMMARY Morgan Stanley provides a comprehensive benefits plan to all employees. This global reach requires that we actively look for talent at universities all over the world.com/about/press/index. projects. India. highly motivated individuals working with passion toward the common goal of providing the best and most innovative services to our clients.com/about/awards/index LINK tO RECENt NEwS www. We are united by a simple credo: to never settle. by the breaking down regulatory barriers.com/careers/recruiting/programs SuMMER POSItIONS (INtERNS) www. u. In recent years. From Institutional Investor surveys to quality-of-workplace awards. LINK tO bASIC FINANCIALS Every candidate’s career path will be different.com/about/company/index dESCRIPtION OF OFFICE CuLtuRE Client focus is engraved in our culture throughout the firm: we are energetic. and China. MA. Calif.com/careers/recruiting/programs COMMON u.html dESCRIPtION OF tYPICAL PROjECt John J. hOME OFFICE LOCAtION captures top honors that build its reputation for excellence.N dESCRIPtION OF GLObAL PRESENCE Morgan Stanley’s business is expanding around the world as global markets become ever more tightly linked by technology. institutions.S. NY MANAGEMENt/OFFICERS www. IL. An established global presence such as ours gives Morgan Stanley a clear advantage: we are a market leader in Europe and Asia as well as the United States. Chairman & CEO of Morgan Stanley International Colm Kelleher. to never allow “good” to be good enough. www. We invite you to come and meet Morgan Stanley professionals who will show you first-hand what this means. the firm regularly thE COMPANIES YOu NEEd tO KNOw AbOut 99 .morganstanley. Chief Financial Officer CLIENtS/INduStRIES SERvEd With the wide variety of positions and programs.morganstanley.html FuLL-tIME POSItIONS www. Switzerland.morganstanley.S. governments and individuals. AwARdS wON [N] NEStLé Jungle Profile uRL www. NY COMMON INtERNAtIONAL hIRING LOCAtIONS New York.nestlejobs. with 600 offices in 31 countries. Morgan Stanley has won recognition around the globe for the quality of its services and the results of its employees’ innovative minds at work. hIRING LOCAtIONS CA. New associates are eligible for promotion to vice president based upon performance. projects vary across the firm.morganstanley. we have earned particular recognition as a leader in the economic and financial growth of Southeast Asia. Mentoring provides each individual thoughtful advice on skill development. Read our employee profiles for examples of assignments and projects. PROFESSIONAL CAREER PAth NEStLé The company combines leadership in investment banking (including underwriting public offerings of securities and mergers and acquisitions advice) and institutional sales and trading. Mack. based upon interests and opportunities.com OFFICE hEAdQuARtERS Vevey. and by the increasingly global needs of our clients. with strengths in providing investment and global asset management services as well as quality consumer credit products to a variety of corporations.com/about/offices/index. Yet we recognize that no one of us alone is as good as we are together.morganstanley.

and the Caribbean dESCRIPtION PhONE 800-343-0975 MANAGEMENt Michael E. arthritis. providing human and animal pharmaceuticals as well as consumer products. performance improvement.pg. consumer products including Stouffer’s® Lean Cuisine®. DiPiazza.com tICKER PG AddRESS 1 P&G Plaza Cincinnati.COMPANY PROFILES PhONE 818-549-6000 MANAGEMENt Paul Bulcke. CEO dESCRIPtION PhILIP MORRIS Accounting giant PricewaterhouseCoopers employs 140. osteoporosis.philipmorris. Pfizer is one of the world’s leading healthcare companies. Chairman and CEO dESCRIPtION PRICEwAtERhOuSECOOPERS Jungle Profile uRL www. uRL www. and stroke victims. PRICEwAtERhOuSECOOPERS [P] PFIZER Jungle Profile uRL www. NY PhONE 212-733-1000 MANAGEMENt Jeffrey Kindler. human resources. Philip Morris is the leading cigarette manufacturer in the United States. The company has 200 projects in development—half of which are distinct new molecular entities. and hospitality.pwc. and has developed therapies for cancer. OH 45202 PhONE 513-983-1000 100 thE COMPANIES YOu NEEd tO KNOw AbOut . tax. health care. Chairman and CEO of Philip Morris USA dESCRIPtION PROCtER & GAMbLE Started in 1987 when Henri Nestlé developed the first milk food for infants in 1867.S. transportation.com OFFICE hEAdQuARtERS Richmond.com OFFICE hEAdQuARtERS New York. and Parliament brand cigarettes. PROCtER & GAMbLE Company Profile PFIZER PhILIP MORRIS Jungle Profile uRL www. It’s core business is manufacturing and marketing Marlboro.000 people worldwide.pfizer. Taster’s Choice®. Hot Pockets®. Owned by Atria Group Inc.com OFFICE hEAdQuARtERS New York. energy. executive vice president and zone director for the United States. Va. paper. Nestlé Toll House®. Virginia Slims. Pfizer’s portfolio includes 14 No. Basic. The firm employees 11.. Canada. Latin America. Szymanczyk. and Purina® pet food.000 people in 149 countries to assist clients with assurance. transactions. 1 medicines across several major therapeutic categories. NY PhONE 646-471-4000 MANAGEMENt Samuel A. and crisis management in 22 sectors including retail. the Swiss chocolate maker now owns a host of U.

We build our organization from within. our shareholders.500 each to form the company that continues to be their namesake. 6. and Gamble. –Improving the lives of consumers worldwide is about more than just great products. INItIAL INtERvIEw Talk to a P&G employee about our job opportunities. promoting and rewarding people without regard to any difference unrelated to performance. We train and develop our future leaders by making continuous investments in your growth. P&G is renowned for the quality of its people. SEARCH Use the Search Controls to find your preferred position OR the job that was identified for you by the P&G recruiter. We hold our leaders accountable for their results on attracting. P&G is strongly committed to hiring at the entry level and promoting its people from within. hit the big time thE COMPANIES YOu NEEd tO KNOw AbOut 101 . 4. OvERvIEw OF OuR COMPANY PROCtER & GAMbLE P&G’s application is available online and starts by visiting www. ONLINE APPLICAtION Our Corporate Diversity Intent is to have a workforce that reflects the consumers and communities we serve. allowing our people. P&G uses a variety of assessments to obtain the most detailed understanding of your capabilities as possible. and the communities in which we live and work to prosper. OuR PuRPOSE Start your career among the best and the brightest people in business today. This is critical since the people we hire at entry-level will become the future leaders of our company. This is where you get to meet your eventual work team and get all your questions answered. it’s best to start early. consumers will reward us with leadership sales. 5. FINAL INtERvIEw Learn more about our culture and our people and visit the location where you will work. on employee training. P&G managed to reach the $1 million sales mark in 1859 and soon after.P CONtACt North America Talent Supply MESSAGE tO MbA CANdIdAtES When searching for employment opportunities within P&G. and development. and developing the diverse talent needed to achieve our business goals. a candle maker. dIvERSItY MISSION StAtEMENt P&G’s “Promote-from-Within” philosophy places considerable emphasis. Our corporate tradition is rooted in the principles of personal integrity. StEPS ON hOw tO APPLY We will provide branded products and services of superior quality and value that improve the lives of the world’s consumers. Log oN Log on to www. As a result. YOuR OFFER ANd YOuR FutuRE P&G brands touch the lives of people around the world 3 billion times a day. profit and value creation. COMPANY hIStORY 1.pg. Procter. 3.com/careers. FIND Almost 170 years ago in 1837.0 as well as having other non-academic involvement. REVIEW Review the Data Privacy Statement. ASSESSMENt Help us get to know you and your abilities and talents. complete the online assessment form as soon as possible. respect for the individual and doing what’s right for the long-term. retaining. After quickly finding it’s footing. growth. There’s no better place to grow and shape your talent. Internships are a great way to get noticed and nearly half of all full-time hires are former interns. TAKE ASSESSMENT If requested to do so. APPLY Log-in and complete the online application form. It’s about taking responsibility for improving our communities around the world through the work we do. a soap maker.com/careers 2. We attract and recruit the finest people in the world. An important tip on getting your resume noticed is having a GPA above 3. came together with about $3. Having completed internships or belonging to student organizations will stand out on your resume. dESCRIPtION OF hIRING PROCESS Click on the actual Job Title to find the job description and the “Apply Online” link.pg. we set our long term goals for workforce composition with this in mind. as a company and as individuals. Leadership roles and experience are even better. We believe that this is the best way to be in touch with the world’s consumers so that we can achieve our Company Purpose of improving their lives.

Customer Services/ Integrated Logistics .pg. Vice Chair & Chief Financial Officer Robert A McDonald. Jr. AwARdS wON Fortune (Most Admired Companies) • Ranked No. and Toronto. skills. External Relations .16th time in Top 10 • ranked no. Chile.S. Our main international offices are located in Brussels. Daley. As our company structure has evolved. packaging and finished product through the supply chain. National Association for Female Executives (NAFE) • Ranked in top 30 for 4th straight year Additional Recognitions • Lead Sponsor of NSHMBA conference. 10 overall. 2006 • NSHMBA Brillante Award Winner. Arnold.Lead the understanding of the global market and consumers with innovative research techniques. Each person can and does make a difference.Influence global business decisions and provide financial leadership at all organization levels worldwide. Internationally. the core of our business is still the same: people drive P&G business growth and success. Chief Executive Officer LINK tO bASIC FINANCIALS www. United States MANAGEMENt/OFFICERS PROCtER & GAMbLE A. Lafley. Japan. G. 3 Consumer Products Company (Global) Diversity Inc. Finance and Accounting Management . dESCRIPtION OF GLObAL PRESENCE Fortune (Top Company for Leaders) • Ranked No. Human Resources . 1 in Consumer Products Industry • Ranked No.000 employees strong with on-theground operations in more than 80 countries. Kobe. Mexico City. Santiago. • Ranked No.Partner with line management to set direction. Customer Business Development . Procter & Gamble is over 100. 2007 FuLL-tIME POSItIONS Cincinnati.S. design new processes or implement production. Mexico. Belgium. Support the identification and implementation of improved streamlined processes that keep our business moving.Develop strategic selling concepts and activities. President – Global Business Units Vice Chair of the Board – Global Brand Bruce L. Caracas. Germany. Singapore. China. 14 among top 50 companies for diversity P&G operates in locations worldwide with 30 manufacturing facilities in 21 states in the U. Each region recruits candidates to fill vacancies in functions specific to their business needs. Engineering . Guangzhou.Function as strategic business leaders in all areas of public affairs. Byrnes. attributes and energy of each and every person in the P&G family. Geneva. Chairman of the Board & CEO Susan E.Manage the flow of raw materials. products are sold in 140 countries while operating in 80 countries.. We rely on the character. The list below provides a brief overview of the type of opportunities P&G offers. and consult with customers to grow our business. Building Training Clayton C. Canada. 2 Overall (Global Survey) Universum • Ranked No. Venezuela. hOME OFFICE LOCAtION Latina Style • Eighth straight year in top 50 best places for Latinas in the U. P&G remains the world’s largest manufacturer and marketer of household products and reaches across a spectrum of more than 250 products marketed in 140 countries worldwide. Frakfurt/ Schwalbach. Consumer and Market Knowledge . Switzerland. Ohio. 102 thE COMPANIES YOu NEEd tO KNOw AbOut .COMPANY PROFILES with the introduction of Ivory soap in 1879. develop and deploy strategies to create high performing organizations. Cincinnati.com/investors AbOut OuR PEOPLE P&G is a $76 billion per year company of more than 135. Today. 1 Consumer Products Company (US) Vault • Ranked No. Administrative: Be part of a team.000 employees working in over 80 countries worldwide. 1 for: – People Management – Social Responsibility – Use of Corporate Assets – Innovation – Financial Soundness – Quality of Products & Services Not all regions or countries hire for every business function.Develop new products.

From the challenge of your working life to the security of your life away from work. packages. Applications for the program are accepted all year while most internships are staffed by March prior to the summer. we firmly believe our company offers a unique opportunity. tomorrow. and. Today. Plant Technician . When it comes to the quality of your life. We offer internship/co-op opportunities in nearly all of the Functional business areas listed above. more importantly. Purchases . You have the opportunity to work on teams and make a contribution to the business while gaining experience that will be helpful for full-time employment. as evidenced by the many employee benefits we’ve pioneered. research laboratories. Even workers in the manufacturing plants often own hundreds of thousands of dollars in company stock. Marketing . with the same opportunity to interview for an internship the following summer on the last day of the camp. Workplace Services/ Corporate Facilities . We offer a one–week Technical Summer Camp for individuals who have completed their freshman year. P&G considers the life of its employees and the life of its business inseparable. the students have the opportunity to interview for an internship the following summer.Enable global market leading business decisions by creating and leveraging innovative information and technology solutions. processes and technologies to improve the lives of consumers worldwide. Market Research offers a Consumer Strategy Workshop for students just completing their sophomore year of college.pg. P&G will meet your needs today. and internal services. The internships and co-op assignments are designed for individuals who have completed their sophomore or junior year. students have the opportunity to interview for an internship the following summer.J. The length of the program is about 10 to 12 weeks.com OFFICE hEAdQuARtERS Wayne. Research & Development . At the end of the camp. The work typically involves projects to support our brands. We have kept the welfare of our employees top-of-mind since the beginning of the Company in 1837. For marketing.Create and execute the vision for innovative brands which delight the consumers and build our business. approximately 25 percent of the company is owned by its former and current employees.Design and manage corporate facilities. For example.R IT/Information & Decision Solutions . French’s® thE COMPANIES YOu NEEd tO KNOw AbOut 103 .Strategically source global materials and services needed to produce P&G’s products. Brands include Lysol®. CEO dESCRIPtION Approximately 450 Reckitt Benckiser is a leading maker of household cleaning products and condiments.Develop as a professional and legal manager with a high-level practice in virtually all areas of law.reckittbenckiser. a one-week Marketing MBA Summer Camp is offered for students just entering an MBA program. PhONE 973-633-3600 MANAGEMENt Bart Becht. we were the first in the nation to introduce a profit sharing program to our company in 1887. we understand that your life will grow and change throughout the years. For more information on internships/co-ops: www. At the end of the camp. RECKItt–bENCKISER [R] RECKItt-bENCKISER Jungle Profile uRL www.Create the vision and deploy plans to build innovative brands which delight consumers and build our business. SuMMER POSItIONS (INtERNS) PERCENt OF LASt SuMMER hIRES ExtENdEd FuLL tIME POSItIONS Approximately 80 percent bENEFItS SuMMARY Our Corporate Internship Program offers very competitive salaries based on industry benchmarks. or their first year of an MBA program.Create the future with innovative products. What does the company get for this generosity? It ensures that top-of-the-line employees will remain with the company for years to come.com/careers. so we’ve created a compensation and benefits package that offers substantial benefits from entry-level through retirement. N. NuMbER OF SuMMER hIRES (INtERNS) As a potential employee. Intellectual Property/Legal .

ti. be sure to ask lots of questions. TX 75243 PhONE 972-995-2011 FAx 972-917-5778 CONtACt Sonya Galan.com under “student stuff ” section. MESSAGE tO INtERNAtIONAL StudENtS In this exciting age of high-speed technology. GENERAL INtERvIEw AdvICE We hire people who fit into the TI culture. During an interview. every Internet connection. be yourself. operations. Four carefully planned six-month assignments guide you through the maze of opportunities throughout the company. Linda Johnson. OvERvIEw OF OuR COMPANY Texas Instruments Incorporated is a global semiconductor company and the world’s leading designer and supplier 104 thE COMPANIES YOu NEEd tO KNOw AbOut . be honest about your personal expectations and career goals. We host a second round interview event each November to which top candidates from each campus and conference are invited. Texas Instruments recognizes that a diverse. and Electrasol® dishwasher detergent. Finance Leadership Dev.COMPANY PROFILES mustards. Resolve® carpet cleaners. and effective communication skills. TI has taken great strides in recent years toward not only embracing diversity. and every song you listen to is touched by the power of TI’s Digital Signal Processor (DSP) and Analog technologies. leadership. Because of this belief.com tICKER TXN AddRESS 12500 TI Boulevard Dallas. and to meet finance and operations managers in our organization and to interact with other MBA candidates. teamwork. Resumes may be e-mailed directly to fdpstaff@list. hOw tO APPLY Specific information about our development program can be found at jobs. every photograph you take. TI is also proud to be a part of 23 diversity initiatives in the Dallas area. but weaving it throughout the fabric of the corporation. The Finance Diversity Team conducts surveys to insure that individuals are fully engaged in diversity issues. Former participants of the program are at all leadership levels of the organization. dESCRIPtION OF hIRING PROCESS [t] tExAS INStRuMENtS INC. Wizard® air fresheners.ti. Take our interactive TIFIT Check on the company Web site to determine whether ours is a culture that you will enjoy. and above all. Hire non-US citizens: No Sponsor for H-1B visas: No MESSAGE tO wOMEN/MINORItIES TI’s Finance Development Program (FDP) is designed for MBAs with interests in industry finance. initiative. MESSAGE tO MbA CANdIdAtES The finance and operations organizations at TI do not hire international students for full-time positions unless they already have permission to work permanently in the United States.com. Company Profile uRL www. whAt wE LOOK FOR Some of the key competencies that we evaluate during a first interview are technical aptitude (the ability to understand our complex business). Manager. The FDP has been thriving at TI for more than 40 years and provides exposure to a variety of business groups and finance and operations roles.ti. and accounting. empowered workforce is a means for achieving a sustained competitive business advantage. TI envisions a world where every phone call. This is generally a special weekend providing you with an opportunity to visit TI and Dallas. We visit a select number of MBA schools and conferences each fall. Finance Recruiting and Staffing Coordinator INduStRY High Tech/Telecom Manufacturing whAt’S NEw tExAS INStRuMENtS INC.

Spanish. can be found in digital cameras and MP3 players. people say we act more like a new company. dESCRIPtION OF OFFICE CuLtuRE TI has a long history of innovation and change.100 Best Companies for Working Mothers – 10th consecutive year • Hispanic engineer magazine: Best Companies for Hispanics • uS Black engineer magazine: Best Companies for African Americans • Platinum Award given by the National Business Group on Health: . Without question. The 1950s brought TI.ti. As for the work. anywhere.100 Best Companies to Work For in America – 6th year . innovation. Sloan Award: Business Excellence in Workplace Flexibility • CAreerS and the disABLeD magazine: . and knowledge—sharing is king. A great deal of emphasis is placed on work/life balance. and continues to uphold unwavering principles of integrity in all its businesses and functions. Cross-functional teamwork and goal-driven attitudes play important roles at TI. and commitment. But with the many changes we’ve made. our success is attributed to our people. hOME OFFICE LOCAtION Dallas.a wave that’s drawing much of its energy and power from the people and technology of TI.Top 50 Companies for People with Disabilities • DiversityInc. COMPANY hIStORY TI has had a long standing tradition of ethical conduct. TI technology makes up the brainpower behind many cutting edge innovations on store shelves today. We partner very closely with the businesses. Walk through any TI hallway. DLP TV’s. or German. In December 2000 Jack received the Nobel Prize in Physics for his innovative work and contribution towards modern information technology.com: Top 50 Companies for Diversity thE COMPANIES YOu NEEd tO KNOw AbOut 105 . French. and 75 percent of all notebook PC’s use TI for power management and data storage. That’s because we’re riding the next wave of the digital revolution – a wave built on digital connections. pride in our history. all speaking the same digital language. CORPORAtE MISSION ANd/OR StRAtEGY dESCRIPtION OF GLObAL PRESENCE TI is a global company with a strong presence in over 25 countries. growth. and stability through strong values of integrity. hOw wE ARE ORGANIZEd The finance and operations organizations at TI are decentralized with teams dual reporting to each business unit within the finance and operations organizations.Best Places for Minorities • Working Mother magazine: . We continue to focus on digital signal processors (DSP) and analog devices that will continue to change the way we live and work. We will provide value.com FOuNdING PRINCIPLES TI’s vision is to be a premier electronics company providing world leadership in digital solutions for the networked society – a society transformed by personalized electronics. Chinese. Hindi. Oil detection techniques were expanded to defense applications in the 1940s.Most Valuable Semiconductor Company . enabling the digital revolution and changing the work forever. AwARdS wON tExAS INStRuMENtS INC. TI technology is in more than half the cell phones sold worldwide. Japanese. hOw/whY wE ARE dIFFERENt TI offers a relaxed. everyone at TI rolls up their sleeves and works. working to consult and help create business strategies that make financial sense. and you might hear one of several different languages being spoken: English. TI was born in the 1930s as an oil explorations company. open environment—everyone is on a first-name basis. • Fortune magazine: .t of digital signal processing and analog technologies: the engines driving the digitization of electronics. and career progress is often defined by lateral moves and increased responsibility instead of titles. TI is a company with a long and proud history. Texas LINK tO bASIC FINANCIALS www. and the freedom to innovate and drive new ideas that make a difference. and all able to communicate anytime. excitement about our future. Organizations are flat. TI is a leader in the real-time technologies that help people communicate. We’ve reinvented ourselves many times as the electronics industry has changed. There is an informal business casual dress code and all doors are open.Best Employers for Healthy Lifestyle • Alfred P. Jack Kilby’s invention of the integrated circuit.

• Why do you want to do Investment Banking / Sales / Trading / Asset Management? • Why do you want to work for UBS? • You may be asked about current business news or something from the Wall Street Journal. is the marketing. Top Reasons to Work for UBS 1.toyota. distribution and customer service arm of Toyota. First round interviews are held on campus. COMMON INtERvIEw QuEStIONS • Walk me through a cash flow statement.com tICKER UBS AddRESS 299 Park Avenue New York. Global Reach – UBS is present in all major financial centers worldwide with offices in more than 50 countries. Prepare for finance and accounting questions. One Firm Approach. dESCRIPtION OF hIRING PROCESS We conduct multiple rounds of interviews. Inc. or via telephone.000 people.com/mba. employing over 80. • How do you value a company? • Tell me about a recent IPO you followed. sales. As an integrated firm. In 2006 the company achieved its best-ever year-end sales with 2. UBS creates added value for clients by drawing on the combined resources and expertise of all its businesses.A. 3.COMPANY PROFILES tOYOtA Jungle Profile uRL www. marketing products and services through a network of more than 1.ubs. Be yourself. your understanding of the industry. NY 10171 PhONE 212-821-3000 FAx 212-821-5271 INduStRY Investment Banking Investment Management Sales and Trading Submit applications online at www.400 Toyota. CA PhONE 310-468-4000 dESCRItION MESSAGE tO MbA CANdIdAtES Toyota Motor Sales (TMS). for candidates at schools which we visit for recruitment. Know why you want to work in finance and what differentiates UBS from other firms. Europe and Asia Pacific. problem solving skills. Our growth and momentum across the United States business and other regions provides a unique opportunity for MBA graduates to be given ample responsibility early in their career. Lexus and Scion in the United States.ubs. hOw tO APPLY tOYOtA [u] ubS Company Profile uRL www. Be honest.S.com OFFICE hEAdQuARtERS Torrance. evidence of teamwork. drive and commitment.5 million vehicles sold in the United States. U. For other candidates. communication skills. GENERAL INtERvIEw AdvICE ubS Be prepared. During an interview we will be assessing the following: analytical skills. whAt wE LOOK FOR We are looking for people that have an interest in and passion for finance. MESSAGE tO INtERNAtIONAL StudENtS UBS is a global organization and we recruit MBA candidates across the globe. Hire non-US citizens: Yes 106 thE COMPANIES YOu NEEd tO KNOw AbOut . 2. Lexus and Scion dealers in 49 states.. UBS recruits MBAs across the Americas. first round interviews are held at UBS offices.

providing a full range of products and services to corporate and institutional clients. equity-linked and equity derivative products. OvERvIEw OF OuR COMPANY al wealth management business provides a comprehensive range of products and services individually tailored for wealthy clients around the world. Swiss. It also structures. a top tier investment banking and securities firm. With the brokerage firm now a part of UBS. Currently. industry sectors. have operations in over 50 countries and have centers of excellence in all major financial centers. the business is one of the leading wealth managers. New York/Stamford. As an integrated firm. UBS creates added value for clients by drawing on the combined resources and expertise of all its businesses. Zurich MANAGEMENt/OFFICERS Group Chief Executive Officer – Marcel Rohner CLIENtS/INduStRIES SERvEd UBS is determined to be an employer of choice. supported by its risk and logistics teams.from asset management to estate planning and from corporate finance advice to art banking. UBS is a leading global wealth manager. Investment Bank: UBS Investment Bank is one of the world’s premier investment banking and securities firms. Our client advisors provide a full range of wealth management services to clients -. the Investment Bank has significantly extended its retail distribution. finances and clears cash equity and equity-linked products. originates. Its business. UBS’s major geographical regions include North America. providing a complete set of banking and securities services for individual and corporate clients. deliver advice and execution to clients all over the world. and the largest in Switzerland Global Wealth Management Business Banking: The glob- global Wealth Management Business Banking: With more than 140 years of experience. Creating an open environment where differences are valued and respected is critical to the success of the business. hOw wE ARE ORGANIZEd The Businesses of UBS AG Investment Bank: UBS Investment Bank is one of the world’s premier investment banking and securities firms. Europe. and one of the largest global asset managers. Its investment bankers. equities: UBS Investment Bank is a leading participant in the global primary and secondary markets for equity. ubS thE COMPANIES YOu NEEd tO KNOw AbOut 107 . perspectives and expertise. the global wealth management business provides a comprehensive range of products and services individually tailored for wealthy clients around the world. Its business sells. UBS Investment Bank also works with financial sponsors and hedge funds and indirectly meets the needs of private investors through both UBS’s own wealth management business and through other private banks. geographical markets and macro-economic trends. Latin America and Asia-Pacific.000 people worldwide. COMPANY hIStORY The Union Bank of Switzerland (created in 1912) and Swiss Bank Corporation (founded 1897) merged to form UBS AG in June 1998. Business Banking Switzerland is the market leader in Switzerland. In 2000. and distributes new equity and equity-linked issues and provides research on companies. and Tokyo stock exchanges. hOME OFFICE LOCAtION London. CORPORAtE MISSION ANd/OR StRAtEGY A global financial services firm. creating a powerful global entity with a presence in each of the world’s financial centers. financial intermediaries and alternative asset managers. we employ over 80. UBS is listed on the New York. trades. governments. Business Banking Switzerland is the market leader in Switzerland. dESCRIPtION OF GLObAL PRESENCE UBS is one of the world’s leading financial firms. is focused on growth. providing a full range of products and services to corporate and institutional clients. financial intermediaries and alternative asset managers Global Asset Management: The Global Asset Management business is one of the largest global institutional asset managers. a leading US private client business. governments. In the US. research and sales and trading capabilities in the Americas. This in turn will promote creativity and innovation and produce business opportunities. UBS is a market leader in retail and commercial banking. the business is one of the leading wealth managers. UBS Investment Bank (formerly known as UBS Warburg) was formed soon after as a combination of each firm’s investment banking businesses.u MESSAGE tO wOMEN/MINORItIES UBS can only achieve its global business objectives if we respect and promote differences in background. In Switzerland. salespeople and research analysts. serving a discerning international client base. global in scale. In the US. the second largest mutual fund manager in Europe. providing a complete set of banking and securities services for individual and corporate clients. UBS AG merged with PaineWebber.

S. Europe and Asia Pacific. skills and experiences within our workforce. Japan. 2003 – 2006 • “Best Global Private Bank”. Investment Banking and Asset Management. • “Corporate Broker of the Year”. For our employees. and shape our future. euroWeek. TX COMMON INtERNAtIONAL hIRING LOCAtIONS Hong Kong.COMPANY PROFILES Fixed income. globalAssetManagement:TheGlobalAssetManagement business is one of the world’s leading investment managers. perspectives. its offers clients global service in its five major business lines of credit fixed income. and through financial intermediaries. 1 Trader on NASDAQ and No. coordination of due diligence processes. rates and currencies business delivers a broad range of products and solutions to corporate and institutional clients in all major markets. Its advisory group assists both public and private companies in multiple aspects of a transaction including negotiations. As a leading global financial services firm. municipal securities and foreign exchange and cash and collateral trading. Determined to be recognized as the best global financial services company. and generate superior but sustainable returns for our shareholders. euromoney. 2007 • No. learn.ibb. company valuations and drafting of both internal and external communications materials. Fixed Income. 2005 For more awards and information. UK PROFESSIONAL CAREER PAth Associate (Non-Officer) Associate Director (Officer) Director Executive Director Managing Director UBS is an Equal Opportunity Employer. 2006 • “Best Bank Overall for FX”. and business practices. the second largest mutual fund manager in Europe. Investment banking: In the investment banking business.ubs. Acquisitions Monthly. performance and learning that has enabled us to continually innovate and broaden our expertise. we will earn this recognition from clients. we aim to provide a first-class working environment that is based on the values of diversity and meritocracy.ubs. UBS provides a range of first-class advice and execution services to corporations. rates. commodities. UBS has created a distinct culture of ambition. institutional and corporate clients. Offices in all three major regions hire Summer Associates.ubs. Our vision encompasses all of these attributes and charts our course for the future. NY. shareholders and professionals through our ability to anticipate.com/mba FuLL-tIME POSItIONS UBS hires MBA’s into the United States. IL.com/e/about/keyfigures. Investment Banking. identity. Europe and Asia Pacific offices for the following business areas: Equities.com Link to employee profiles: www. rates and currencies: The fixed income. All rights reserved. 2 Trader on NYSE Autex. ubS LINK tO bASIC FINANCIALS • “Most Impressive Bank”. structuring. please go to www. CT. AwARdS wON The Summer Associate program includes positions in Equities.com/Awards/awards. promote a corporate culture that adheres to the highest ethical standards. we want to provide our clients with value-added products and services. © UBS 2007. Fixed Income. 2006 – 2007 108 thE COMPANIES YOu NEEd tO KNOw AbOut .ubs. and the largest in Switzerland. Number of full time hires Investment Bank: 110 Associates in 2007 SuMMER POSItIONS (INtERNS) www. Municipal Finance and Asset Management.html dESCRIPtION OF OFFICE CuLtuRE UBS has made responsible corporate conduct an important part of its culture. while always delivering the very best quality in all that we do. It is one of the largest global institutional asset managers.shtml uSEFuL/RECOMMENdEd LINKS www. providing traditional and alternative and real estate investment solutions to private. With professionals working in the Americas. We share a common ambition to succeed. FX Week. Number of summer hires Investment Bank (interns): 130 Associates in 2007 Percent of last summer hires extended full time positions: 80% COMMON u. We respect and seek to empower each individual and the diverse cultures. financial sponsors and hedge funds. hIRING LOCAtIONS CA. Singapore.

com. and a desire to be part of a team-based enterprising culture. someone somewhere in the world reaches for a Unilever product! With 400 brands spanning 14 categories of home. We will always make time for your questions. Skippy Peanut Butter. improving our brands. Our brands are probably right there on your bathroom shelves. Unilever is always developing new products. If we are not attending your school. if we don’t visit your school. leadership. Suave. and Snuggle. rewarding product experiences. and have five laboratories around the world that explore new thinking and techniques to help develop our products. we hope to determine if you possess the skills and competencies that we believe are critical to the success of our organization. We have been there when you were stressed out over papers and exams with Ben & Jerry’s. MESSAGE tO MbA CANdIdAtES Each year Unilever North America visits and interviews at a variety of top MBA schools across the country where we focus on identifying candidates who possess skills and values that are a good fit with our organization. but are not limited to. a bias for action. Our brand portfolio has made us leaders in every field in which we work. Lipton Cup-a-Soups and Teas. We may have even showered together! We did if you use Dove. I Can’t Believe It’s Not Butter!.unileverusa. and Degree. Through our questions. This is our opportunity to get to know you and your background.u uNILEvER Company Profiles uRL www.000 people in more than 60 office and manufacturing sites in 24 states and Puerto Rico —generating nearly $10 billion in sales in 2006. We have helped you do your laundry with Wisk. to trusted local brands such as Blue Band and Suave. Hellmann’s and Lawrys. and analytical ability. and promoting better. We’re constantly enhancing our brands to deliver more intense. or Sunsilk. personal care and foods products. please contact your career services office to learn more about our campus visit. We invest every year in cutting edge research and development. work. areas such as team work. We also look for individuals who have curiosity about and passion for the consumer. Dedicated to serving consumers and the communities where we live. dESCRIPtION OF hIRING PROCESS 160 million times a day. We believe the better we get to know one other the easier it will be for all of us to determine whether you and our businesses are right for each other. and play. It ranges from much-loved world favorites including Lipton. Lever 2000. GENERAL INtERvIEw AdvICE Our interviews are relaxed and designed to be stress-free. Good Humor-Breyers. Ponds. Unilever in the United States employs approximately 13. Our product portfolio is diverse in response to the varying needs of our customers across the globe. please submit your resume online. please send us your resume by visiting our Web site at www. but you do and we know you! In fact we have been there for you for a long time.unileverusa.com tICKER UN and UL AddRESS Unilever United States 800 Sylvan Avenue Englewood Cliffs. then please contact us about joining Unilever. check our list of core schools in the “Careers” section of our website to see if and when we will be visiting your school: if we are. have a bias for action and thrive on innovation and speed to market. we cannot visit all of you in person! Therefore. Caress. That’s right: we’re Vaseline. and you think you are the type of person that would be a good fit with Unilever. Great brands come from understanding and connecting with our consumers. a strong understanding of the marketplace. hOw tO APPLY uNILEvER First. Unfortunately. NJ 07632-3201 PhONE 201-567-8000 INduStRY Consumer Products AbOut uNILEvER ‘all’. Dove and Omo. thE COMPANIES YOu NEEd tO KNOw AbOut 109 . The questions are often based upon. no other company touches so many people’s lives in so many different ways. Knorr. And we have been there when you have needed to take off those extra few pounds with Slim-Fast! So you see. more efficient ways of working with our markets. you really do know who we are! Do you have a passion for the consumer? Do you want to learn more about how people decide what they are going to eat and how they get themselves ready for the day? If you want to be part of our enterprising culture. whAt wE LOOK FOR You may think you don’t know who Unilever is. it is also an opportunity for you to get to know us. creativity. AXE. We have had meals together over Ragu. Importantly.

110 thE COMPANIES YOu NEEd tO KNOw AbOut .COMPANY PROFILES COMMON INtERvIEw QuEStIONS Although all of our interviewers will look for the same types of things (per above). hygiene and personal care with brands that help people look good. Unilever also has offices throughout the United States including Chicago. however. including the first synthetic detergents and the first dehydrated foods. every Unilever manager has a unique and personal way of going about the interview.S. Unilever’s global headquarters are London. inspired work environment. you will be inspired by exciting business opportunities. The majority of our businesses have offices without doors to reinforce our commitment to openness and accessibility. Illinois and Trumbull. with innovations that transformed entire market categories. MANAGEMENt/OFFICERS Unilever is an Equal Opportunity Employer and strongly encourages all individuals to apply for all positions. Group Chief Executive Michael Polk. Group VP Unilever United States Ralph Kugler. the result of a strategic alliance between Margarine Unie. The potential for development opportunities and personal growth is infinite because we can offer assignment rotations across functions and business units in North Given the size and scope of the Unilever business. England and Rotterdam. feel good and get more out of life.unilever. COMMON u. CT. dESCRIPtION OF GLObAL PRESENCE Unilever is one of the largest consumer products companies in the world with more than $50 billion in sales. and Lever Brothers. open job posting. however. Unilever was a major international presence. therefore. President. hOME OFFICE LOCAtION We encourage you to research the world of opportunities we can offer you in your home country at www. NJ. com/careers. a Dutchbased margarine company. No matter where you go in your Unilever career. Foods Kees Van der Graaf. cosmetics. Chief Financial Officer CLIENtS/INduStRIES SERvEd Though many of our companies date back to the 19th century. You can expect a mix of questions about your past experiences. bringing even more broad-based strength and diversity to our growing list of successes. Such programs include tuition reimbursement. By the end of World War II. there may not be a lot of standard questions. CORPORAtE MISSION ANd/OR StRAtEGY uNILEvER Unilever’s mission is to add Vitality to life. Unilever was officially formed in 1930. We have a business casual dress policy and subscribe to a stimulating. supportive. we ventured successfully into prestige personal products.com/investorcentre/financialreports/ dESCRIPtION OF OFFICE CuLtuRE Unilever is building an enterprising and team-based business culture. the primary focus of your responsibility will be on building our brands. IL SPECIAL PROGRAMS Unilever offers a variety of employee programs tailored to meet the needs of our valued employees. hOw/whY wE ARE dIFFERENt All consumers everywhere! LINK tO bASIC FINANCIALS www.unilever. u.S. operate as a single unit with the same board of directors. President Home & Personal Care Vindi Banga. tea and household cleaners to our product portfolio. as well as advanced technologies in edible oils and industrial chemicals. MESSAGE tO wOMEN/MINORItIES Headquartered in Englewood Cliffs. hIRING LOCAtIONS NJ. Connecticut. We moved into frozen foods in the 1950s and added toiletries.000 people in around 100 countries. Unilever employs approximately 179. We meet everyday needs for nutrition. Unilever has two parent companies . and the real-world marketplace. MESSAGE tO INtERNAtIONAL StudENtS America and world-wide. COMPANY hIStORY Patrick Cescau. dESCRIPtION OF tYPICAL PROjECt Unilever combines the spirit of a small company with the power of a global business that allows for local risk taking. despite being separate businesses. hypothetical business situations. President Asia AMET James Lawrence.Unilever NV and Unilever PLC – which. community partners and alternative work arrangements to name a few. In the 1980s. President Europe Harish Manwani. President Americas Kevin Havelock. a British detergents company. Netherlands. our projects are typically very diverse in nature.

In addition. Cross-functional and cross-company moves. youthful. 401k. hOw tO APPLY Send cover letter and resume to kortney.000 students and young professionals in 29 countries. Suite 1800 Philadelphia. The thE COMPANIES YOu NEEd tO KNOw AbOut 111 . the hiring process typically includes: an initial screening interview via phone.u PROFESSIONAL CAREER PAth At Unilever. however. This type of feedback was truly a first. drive. and an entrepreneurial spirit. At the time. bENEFItS SuMMARY player who possesses dedication. MESSAGE tO wOMEN ANd MINORItIES uNIvERSuM Company Profile uRL www. personable individuals who can bring their unique experiences and valuable skills to the Universum team. impeccable communication skills. there was very little communication between students and the companies seeking to employ them.com AddRESS 1518 Walnut Street. and a case study simulation. and retirement plan. The early Universum team decided to conduct a survey among their readers. gathering information on career options and individual employers was extremely difficult.universumglobal. We are not just looking for qualified candidates to fill an open position. The ideal candidate is a self-starter and team Universum offers a dynamic and creative atmosphere where everyone’s opinions are leveraged on an equal playing field and where everyone is given a high level of responsibility and the tools needed to achieve success. as well as short and long-term international assignments are also available. Lars-Henrik Friis Molin was a student at the Stockholm School of Economics in Sweden nearing the end of his university education and considering which career path to follow. a formal face-to-face interview. We are looking for bright. whAt wE LOOK FOR In 1988.com INtERvIEw AdvICE Be confident and most important. our career paths are flexible and alternative career moves are supported. we offer a truly unique career proposition: a career path which is specific to each individual. be yourself. COMPANY hIStORY uNIvERSuM The hiring process varies depending on Universum’s current staffing needs and the types of positions available. Universum monitors the opinions of over 200. Today. You might start your career in Marketing and decide to move later into Human Resources or Finance. and “companies were all saying the same things” even though they were targeting different students. Lars-Henrik started a magazine with the vision of fostering better communication and understanding between students and the business community—a magazine that grew rapidly into a key source of information for students about their career opportunities. and companies were extremely interested in the results. and global company. dynamic. PA 19102 PhONE 215-546-4900 hIRING PROCESS We are always looking for top talent to join our highly diverse team where mutual respect and acceptance of differences is a cornerstone of our corporate culture and where the majority of our top management are women.kutsop@universumusa. company matching. Dissatisfied with the lack of communication. hOw wE ARE dIFFERENt We look for individuals with a keen interest in the employer branding industry who are ready to jumpstart or expand their careers with a truly dynamic. Universum encourages international applicants to join our already global team. We offer early responsibility and the chance to move up and around quickly for the most talented individuals. intending to use the results to help companies understand and better communicate with the group they were trying to recruit. COMMON INtERvIEw QuEStIONS • What are your future career goals? • What sparked your interested in the employer branding industry? • What can you contribute to the Universum team that no one else can? • What is your top academic/professional achievement? • What type of managers can or can’t you work for? MESSAGE tO INtERNAtIONAL StudENtS Unilever provides all full-time employees with a comprehensive health and welfare plan.

and retain current and ideal employees utilizing our experience. 112 thE COMPANIES YOu NEEd tO KNOw AbOut . South Africa. President and CEO dESCRIPtION We offer a cubicle-free. OFFICE hEAdQuARtERS Philadelphia. CORPORAtE MISSION ANd StRAtEGY Vestas is the world leader in wind technology and a driving force in the development of the wind power industry. serving a variety of industries including investment banking. Asia. consumer goods. surveying more than 200. creative.S. President. we drive the industry forward having focused exclusively on Employer Branding (EB) for over 18 years. GLObAL PRESENCE [v] vEStAS wINd SYStEMS Jungle Profile uRL www. Vestas’s core business comprises development. sales. As thought leaders. Americas dESCRIPtION Universum currently conducts research in 29 countries around the world.000 students and young professionals worldwide—55. they’re expected.COMPANY PROFILES organizational structure is flat which allows for daily interaction with the CEO and other senior executives. OFFICE CuLtuRE [w] wAChOvIA SECuRItIES Jungle Profile uRL www. including many Fortune 100 companies. individuals with different areas of expertise work as a team to create effective solutions to client problems.com OFFICE hEAdQuARtERS Charlotte. We are constantly evolving and for those who want to grow with the company and contribute to its overall success and development. attract future. NC PhONE 704-383-1642 MANAGEMENt/OFFICERS Ken Thompson . and the U. Wachovia Securities LLC is an integrated corporate and investment banking platform that deploys a full range of capital raising. consulting and media solutions. knowledge and services.vestas. and casual working atmosphere where social interaction and hard work are not just encouraged. vEStAS wINd SYStEMS UNIVERSUM is The Global Employer Branding Leader. The integrated process of our unique Universum EB Model is the baseline of our portfolio: research. PA MANAGEMENt wAChOvIA SECuRItIES Claudia Tattanelli. the sky’s the limit. We help employers to understand. and management consulting. We truly are a global player and encourage employees to gain experience in any one of our international offices. alone. Every day. CEO CLIENtS/INduStRIES SERvEd We are a trusted partner to over 500 clients worldwide.000 in the U. Chairman. market–making and financial advisory services to meet the need of corporate and institutional clients.com OFFICE hEAdQuARtERS Portland. It is a subdivision of Wachovia Corporation.S. OR PhONE 503-327-2000 MANAGEMENt Jens Søby. with offices in Europe. manufacture.wachovia. bENEFItS SuMMARY Universum offers a complete healthcare and dental benefits package to all full-time employees. marketing and maintenance of wind power systems.

Who you are and where you come from are part of what makes you unique. And the best view could be through your eyes. All rights reserved. . UBS believes that looking at things from another perspective is crucial to our success. Who you are is important.You & Us Your exceptional talent drives our success. As a leading financial firm with 150 nationalities. This is why at UBS we value the diverse backgrounds of our employees. we can realize who you want to be. Together. It starts with you: www.ubs.com/careers UBS is an equal opportunity employer committed to diversity in its workplace. It starts with you. (M/F/D/V) © UBS 2007.

Expect to be a contributor. It's a great time to join us. Our premier brand and global capabilities create premier brand and global capabilities create a strong foundation for you to explore a a strong foundation for you to explore a range of diverse career options. a colleague. a collaborator and Expect to be a contributor. Working range of diverse career options.com/careers ml. you will within a dynamic environment. For more information or to apply online. It's a great time to join us. a collaborator and a colleague. Merrill Lynch is an equal opportunity employer.com/careers . you will contribute to our company's business growth contribute to our company's business growth and momentum. to deliver exceptional solutions to our clients. For more information or to apply online. ml. Work alongside industry-leading professionals Work alongside industry-leading professionals to deliver exceptional solutions to our clients. Working within a dynamic environment.com/careers Merrill Lynch is an equal opportunity employer. visit ml.[ limitless potential limitless potential MERRILL LYNCH MERRILL LYNCH growth and momentum growth and momentum inspiring colleagues inspiring colleagues ] Merrill Lynch offers you unparalleled Merrill Lynch offers you unparalleled opportunities to build your career. Our opportunities to build your career.com/careers visit ml. and momentum.