Amy Donegan first hosted Boston College Bank Week four years ago, when she said investment banks had started accelerating their hiring times while pushing for greater diversity in the workforce. ‘hiring.
“There are a lot of students who grew up around finance and came to BC with the goal of doing something like [finance]said Donegan, assistant dean for undergraduate career counseling at the Carroll School of Management. “That’s not the target audience for a lot of these companies because they’re looking for underrepresented students.”
This year, Bank Week ran Tuesday through Friday and featured a variety of panels and networking events where sophomores could interact with BC alumni in the banking industry. investment.
“Investment banking is unique in that almost all of their hires come from their internship programs, and their internship programs recruit in the second year, so that really creates a need to prepare our students,” she said. declared.
Donegan said Bank Week aims to foster a welcoming environment, with events such as “Women in Finance,” “Black/Brown in Finance” and “Being LGBTQ on Wall Street” to provide perspective and guidance to underprivileged groups. depicted on browsing in the industry. .
“By networking with people, I’ve learned so much more about diversity programs,” said Remi Robertson, CSOM ’24. “I know now that a lot of banks have programs for women, and even though it’s not a specific program for women, they have [women’s] organizations within banks, which was very interesting to learn.
The Friday morning Diversity Networking Reception also gave students a smaller space to network with bank representatives before the session opened up to the general student population.
“It helped establish a personal connection with recruiters and [current] employees and understand what they actually do in the business,” said Dhairya Dhamani, CSOM ’24. “So you get, not a scripted answer, but something more authentic.”
Since Bank Week is aimed at sophomores with limited financial experience, Donegan said the Banking Week website provides a variety of resources, including networking tutorials, bank recruiting calendars, and free access to Training The Street’s advanced technical interview prep.
Students new to the industry also observed the structure and inner workings of investment banking. Omer Tanvir, Global Co-Head of Campus Recruitment at Goldman Sachs, provided insight into the structure of an investment bank. He explained that while investment banking is an industry, it is also a specific division within investment banking firms.
“Most investment banking firms have about 20 different divisions within them, one of which is investment banking,” said Tanvir, BC ’05. “The first thing bankers do is give you advice when you want to buy another business or merge with another business, … The second thing they do is raise capital – they put you in touch with [investors] when you need money.
The Bank Week sessions allowed alumni working in larger divisions, including sales and trading divisions and wealth and asset management divisions, to share information about their fields, but other alumni provided perspective on lesser-known areas.
One of these panels described environmental, social and corporate governance (ESG) investing, an area that prioritizes societal and environmental benefits through profitable investments. Paul Donofrio, a UBS investment banker working on ESG, reminded students to monitor the impact of their investments given the deteriorating state of the Earth’s environment.
“I think the reality is everybody has kids, and everybody sees where things are going,” said Donofrio, BC ’09. “And they realize there’s a sense of urgency around some of these things now. I see change.
Overall, Bank Week allowed students to take their first steps into the investment banking industry and receive first-hand knowledge from BC alumni.
“I think there’s a lot of pressure to get into investment banking, but I think we don’t really know what it is and what it looks like,” Robertson said. “So I think hearing people’s first-hand experiences was really eye-opening.”
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