Sunday, March 1, 2009
You dont know what you can get away with unless you try...
As we all know these are desperate times in the economy and the effect it has having on business schools around the nation is that the percentage of students securing full time employment is declining. And so it is understandable if students are concerned about the outlook for summer internships and full time employment.
But this concern should not translate into giving up hope and not trying at all. I have come across many people who seem to have the attitude that its not worth wasting energy, looking to secure employment right now because there is nothing out there. I would have to disagree with that thought even though I realize its easier said than done. This is the time to try even harder, push through the barriers and get in front of employers to show that you are indeed a good candidate willing to go the extra mile...even when times are tough. Because when the market does pick up, you want the employer to think of you before anyone else.
If there is anything I have learned at business school, its that relationships matter and persistence pays off. This is the time to be persistent and establish those relationships because you never know when the current economic situation will take a u-turn.
I want to give the example of a classmate of mine who in my opinion is one of the hardest working individuals I have ever met in my life. We both worked together to secure a summer internship at a bulge bracket investment bank. And while I considered him as one of the better prepared candidates, luck unfortunately wasn't on his side when summer internship offers were made in January 2008.
If it were anyone else, they would have probably been shattered by that outcome given how much time and effort is invested in securing such an opportunity. But he wasn't. The very next day he went back to the drawing board and persisted for the entire spring semester, calling every possible financial advisory firm you can think off, heading down to NYC more times in a week than you or I could imagine (I'm sure he needed to change the oil in his car every month!). There were times when I even told him to consider other career paths, but he always turned down my advice saying that this is what he wanted to do. In his quest to secure an internship and build his resume while doing so, he even started doing freelance financial modeling work for a small firm in the Midwest. I just couldn't understand where he got his drive and motivation from.
After months of hard work and trying every avenue, he finally managed to secure an internship at a boutique financial advisory firm. I was extremely happy that things worked out for him and now hoped that he would receive a full time offer.
He ended up having a great summer and did exceptionally well but because it was a small firm, he wasn't either offered or denied a full time offer. He was told that they would take a look at the economic outlook and let him know later in the year or sometime in 2009.
So in August of 2008, while his investment banking classmates had some closure regarding their post graduation opportunities, he went back to the drawing board and started figuring out a plan to secure a full time position. Again the weekly trips to NYC started and phone calls and emails to maintain relationships and locate opportunities continued. Even as the the economy proceeded to take a nose dive, his level of hope didn't.
I remained in awe at his persistence and drive. Even amidst all the negativity, my friend never gave up hope and remained determined towards achieving his goal. And he did. Two weeks ago, he finally got a call from his summer employer, who was blown away by his persistence, extending him full time employment. Can you imagine? Getting a job at a financial institution at a time when financial institutions are primarily focused on layoffs!
All I can say is that his drive and hard work paid off. All through 2008 he never gave up and he always sought out opportunities to make contacts. If someone from NYC agreed to spend 15 minutes with him on the phone, he would drive down to NYC so he can spend those 15 minutes in person, only to drive back right after.
This is a story that highlights the importance of persistence, hope and the value of not giving up. Just keep trying. If you really want something, go after it and don't let the noise around you sway you.
When I was 5 years old, I used to have a poster in my room that read " you never know what you can get away with unless you try". Looking at my friend, I can certainly say that not only did he try, but he got away with a job at a time and in an industry when most would think its impossible.
But this concern should not translate into giving up hope and not trying at all. I have come across many people who seem to have the attitude that its not worth wasting energy, looking to secure employment right now because there is nothing out there. I would have to disagree with that thought even though I realize its easier said than done. This is the time to try even harder, push through the barriers and get in front of employers to show that you are indeed a good candidate willing to go the extra mile...even when times are tough. Because when the market does pick up, you want the employer to think of you before anyone else.
If there is anything I have learned at business school, its that relationships matter and persistence pays off. This is the time to be persistent and establish those relationships because you never know when the current economic situation will take a u-turn.
I want to give the example of a classmate of mine who in my opinion is one of the hardest working individuals I have ever met in my life. We both worked together to secure a summer internship at a bulge bracket investment bank. And while I considered him as one of the better prepared candidates, luck unfortunately wasn't on his side when summer internship offers were made in January 2008.
If it were anyone else, they would have probably been shattered by that outcome given how much time and effort is invested in securing such an opportunity. But he wasn't. The very next day he went back to the drawing board and persisted for the entire spring semester, calling every possible financial advisory firm you can think off, heading down to NYC more times in a week than you or I could imagine (I'm sure he needed to change the oil in his car every month!). There were times when I even told him to consider other career paths, but he always turned down my advice saying that this is what he wanted to do. In his quest to secure an internship and build his resume while doing so, he even started doing freelance financial modeling work for a small firm in the Midwest. I just couldn't understand where he got his drive and motivation from.
After months of hard work and trying every avenue, he finally managed to secure an internship at a boutique financial advisory firm. I was extremely happy that things worked out for him and now hoped that he would receive a full time offer.
He ended up having a great summer and did exceptionally well but because it was a small firm, he wasn't either offered or denied a full time offer. He was told that they would take a look at the economic outlook and let him know later in the year or sometime in 2009.
So in August of 2008, while his investment banking classmates had some closure regarding their post graduation opportunities, he went back to the drawing board and started figuring out a plan to secure a full time position. Again the weekly trips to NYC started and phone calls and emails to maintain relationships and locate opportunities continued. Even as the the economy proceeded to take a nose dive, his level of hope didn't.
I remained in awe at his persistence and drive. Even amidst all the negativity, my friend never gave up hope and remained determined towards achieving his goal. And he did. Two weeks ago, he finally got a call from his summer employer, who was blown away by his persistence, extending him full time employment. Can you imagine? Getting a job at a financial institution at a time when financial institutions are primarily focused on layoffs!
All I can say is that his drive and hard work paid off. All through 2008 he never gave up and he always sought out opportunities to make contacts. If someone from NYC agreed to spend 15 minutes with him on the phone, he would drive down to NYC so he can spend those 15 minutes in person, only to drive back right after.
This is a story that highlights the importance of persistence, hope and the value of not giving up. Just keep trying. If you really want something, go after it and don't let the noise around you sway you.
When I was 5 years old, I used to have a poster in my room that read " you never know what you can get away with unless you try". Looking at my friend, I can certainly say that not only did he try, but he got away with a job at a time and in an industry when most would think its impossible.
# posted by Faizan @ 9:19 PM 