The first semester is crazy. People warned me it was crazy, but I didn’t believe them. How bad could it really be? Pretty bad if you are recruiting for everything. Part of me wants to just chill out for the rest of this year, but I’ve actually met people in real life who finds this blog useful so to pay it forward for other vets, I’m going to keep on going.
From a logistics point of view, all of my posts now are probably only useful for those MBAs entering the class of 2015 because most of the things I’ve learned this fall isn’t relevant to the spring at all (because traditional recruiting happens in the fall).
One quick note I wanted to jot down was the difference between banking in the US, EMEA (Europe, Middle East, and Africa, but basically London), vs. APAC (Asia Pacific, but basically Hong Kong). In the US, you are a new associate without any experience in banking among 80 other dudes who came from other industries. There is a super tight military network at MOST banks and your MBA alumni network should be strong.
In London, there’s a lot of analysts being promoted to associates and they have 1 year MBA. What does all of that mean for you? Instead of 80 new guys, you are one of 10 new guys vs. the 70 guys who have been there for 3-4 years. How do you think you’ll rank among them during annual reviews for the first two years? Bottom third. There is a London Banking Summit every Thanksgiving so I would take a look for yourself and enjoy London as well.
The main barrier in working in Asia, regardless of banking, consulting, or any industry, is the language requirements. There will be reading, writing, speaking, and even translation tests at most firms. I don’t know a lot of veterans who even meet this pre-requisite so this is already out.
The whole point of looking beyond the US is that you can potentially increase your chances of getting more interviews. If you know you are cut from Barclays in New York, that does not mean you are cut from Barclays London. So you apply to London. Hit up all the bulge bracket firms during your networking and the ones you get cut from, apply to their London/HK office.
That’s it for now….more to come:
- Recruiting tips, networking etiquette
- Why you should recruit for everything
- Why banking in London sucks
- Detailed notes on every company that I’ve researched