My Davidson on Wall Street Experience

By Max Shockett ’22

This past March, I had the opportunity to travel to New York City and participate in the “Davidson on Wall Street” career trek. During the three-day exploration, our group of 10 sophomores toured the floor of the New York Stock Exchange (NYSE), visited with five financial institutions, networked at an alumni event, and engaged with Training the Street.

I initially learned about the trek from fellow students and professors, all of whom spoke very highly of the experience. As an economics major wanting to work in finance post-graduation, I have attended numerous Career Development employer events and am involved in the Davidson Investment and Finance Association (DIFA) to help further my understanding of the business world. I had done so much to learn about a career in finance without having any real-world experiences. The mission of this trek is to help sophomores wanting to work in finance by networking and providing experiential learning in New York. In addition, the Wall Street program is privately funded by one alumnus who saw this need for students and provides Davidson with an advantage from other undergraduate liberal arts schools.

Our visit to the NYSE was an experience that I will never forget. Having the opportunity to tour the trading floor is a rare and unique experience, especially for undergraduate students. We visited the Monday morning following what at the time was the worst recorded week in the market since 2008. Upon entering, I expected there to be a somber and chaotic mood, given what is portrayed in our media. Instead, even following the opening bell, traders were working diligently and swiftly without the commotion I imagined.

During our five employer visits, I was surprised to see the differences between each of the firms. Employees had varying dress codes, offices were configured differently, and each institution had distinct objectives, contributing to contrasting office cultures. This debunks the typical freighting portrayal of “Wall Street.” By interacting with employees of all levels, we quickly learned that there was not one specific career path and each firm looks for different qualities in analysts.

BlackRock (the world’s largest asset manager) was my favorite company visit. After meeting with alumni in the fall during their information session on campus, our office visit included a live demonstration of the firm’s proprietary risk management software, displaying the company’s unique approach towards utilizing technology to their strategic advantage. We also spoke with four Davidson alumni at the firm, each of who were in different stages of their career and in completely different roles. I was amazed to see all of the different opportunities and career paths available under the umbrella of the financial industry.

Overall, Davidson on Wall Street increased my interest and enthusiasm in the financial and banking industry. During my time at Davidson, I have been fortunate enough to interact with the incredible students and supportive faculty, and this trek helped show me how supportive and eager Davidson alumni are to help.

Speaking for all the students who participated in this career trek, we are incredibly grateful for the opportunity to explore an industry we are interested in and to have alumni who go above and beyond to support us. Because of our tight-knit community and engaged alumni network, I would encourage all students to utilize the Center for Career Development to help pursue whatever interests them!

Annie Brockett ’17 – From Teach for America to Alliance Bernstein

As I reflect upon my senior year at Davidson, I can feel the stress of my post-grad job search.  At the time, I was balancing a full course load with my final season of Division I Lacrosse. If I was sure of anything, it was that I was unsure about my future career. My peers seemed to be following well-worn paths:  law, finance, business, medicine, consulting, and the like. It would have made perfect sense for me to jump on this bandwagon. Both of my parents are lawyers, and both of my brothers were working at large banks on Wall Street. Law school seemed a distant possibility, and finance had potential.  

I remained open to several opportunities while narrowing my location preference to NYC. In my attempts to leverage the limited NYC finance network, Teach for America (TFA) became increasingly attractive. It was an opportunity for me to lean into the discomfort of the educational nuances I might have overlooked as a child, and to acquire a differentiated skillset that would set me apart in my future professional endeavors. TFA was the most challenging and most rewarding thing I have ever done.

After fulfilling my 2 year commitment to TFA, I decided to pivot to finance. The challenges I confronted while teaching in Brooklyn served me well in my transition to Sales and Trading at Alliance Bernstein. While teaching and finance may seem worlds apart, my interview preparation came easy given the plethora of anecdotes I could tailor to my process. I could speak to real-world experiences that put my strengths on display in a way that came off as polished yet authentic. While I didn’t have a finance background, I did have an eager spirit and unparalleled work ethic. I started at Alliance Bernstein in June as a Sales and Trading Associate on the High-Touch Institutional Equity Trading Desk. Each day I find myself in an uncomfortable, unfamiliar situation that forces my development and tests the steep upward trajectory I promised.

My best advice for Davidson students is to highlight your eagerness to learn. Davidson has gifted us with a unique liberal arts experience that sets us up for success in any opportunity we pursue. Be confident in what made you successful at Davidson but humble yourself to constructive criticism. Find ways to make yourself informed, marketable, and indispensable.

Training the Street

As College students, we have all probably encountered this classic conundrum in our job search:

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What if there were a way to gain on-the-job skills and training before you had a job? On Nov. 12, Training the Street will come to Davidson to offer a training program essential to any student wishing to pursue a career in finance or any business field requiring a deeper understanding of income and cash flow statements, balance sheets, public comparable analysis, and much more.

Training the Street works with many of the country’s top corporations to prepare their entry-level, new hires for success. By participating,you will be able to demonstrate to future employers both your preparation and your sustained interest in the business world. More than just teaching basic job skills, Training the Street is committed to cultivating the next generation of successful finance professionals. Through Training the Street’s program, you will master key concepts to reading financial statements and determining a company’s value, skills that you can apply immediately in interviews, internships and first full-time positions.

Training the Street is highly recognized and respected, and it is definitely worth highlighting directly on your résumé.

“Obviously nothing compares to actually doing the job first hand,” writes past participant J.B. Gough ’17, “but Training the Street definitely made me more comfortable especially in my shortcut excel skills, which are unbelievably valuable on the job. I was able to put Training the Street on my résumé and my employers were definitely pleased when they saw this.”

Jeanne-Marie Ryan, Executive Director at Davidson’s Center for Career Development, also acknowledges the value of this program.

“In my previous career, I was at the heart of financial services as a VP at State Street Corporation, so I’m confident that these skills in applied finance fundamentals are what our Davidson students need to differentiate themselves as candidates for any internship or entry-level role in banking or finance,” Ryan says. “Without this clear indicator of interest and skill development on their resume, it would be much more challenging for students to market themselves to a prospective employer for that first internship. The knowledge and confidence gleaned through this course will help students not only understand the finance fundamentals of corporate valuations, but completion of this course will serve as an asset on your resume, and open doors for your career options.”

Sign up in Handshake to attend this key opportunity! Lunch will be provided to all participants.

Up Close with Synchrony Financial’s BLP

up close_Synchrony Financial's BLPDavidson grad Dan Hagemann ’15 recently completed his first year in Synchrony Financial’s Business Leadership Program. Synchrony Financial (SYF), completing the separation from GE Capital, created its Business Leadership Program (BLP) to begin developing future leaders of the company. Dan, now a full-time BLP, shares his experiences from the Program and answers some typical questions about SYF with you below:

“What is the Business Leadership Program, and why did you apply to it?” 

The Program is a 2-year program at Synchrony Financial consisting of three 8-month rotations. Each entry class of BLPs contains roughly 50 BLPs. When you enter the Program, you enter under one “track,” and each of your three rotations provides a different experience within that track. Nine different tracks are offered, ranging from HR to IT to Data Analytics. Mine is Credit, in which I’ve done rotations in Deal Underwriting and Credit Risk.

The rotational nature of the Program still to this day remains my biggest personal draw towards the Program. When preparing to graduate Davidson, I was interested in doing consulting, but I realized that the Business Leadership Program provided that same short-term assignment structure that I admired in a lot of consulting firms. Also, it was clear to me that Synchrony was very serious about investing in its Program participants and valued its employees, both large priorities for me.

“How did you get the job, or at least, what made you a good fit for Synchrony’s BLP?” 

As an Economics major at Davidson, I felt very confident about my quantitative and reasoning skills – I’d later realize that they weren’t all that special – which I figured would be important for a position in Credit. However, it became really clear to me throughout the interview process that Synchrony placed quite a bit of weight on leadership abilities and what SYF now calls “Critical Experiences,” and I was able to point out some examples of those abilities and experiences from my time at Davidson, whether related to Wrestling or studying in India and Spain.

“What have been the highlights of the Business Leadership Program so far?” 

We’ve had quite a year packed with several awesome experiences, but I’ll try to boil it down to three main points:

  •  Meeting our CEO Margaret Keane as the very first experience I had at Synchrony (9:00am, Monday morning – not kidding!). I’ve been lucky enough to speak with her a couple of times since then, but meeting our fearless leader will remain one of my favorite events that my class experienced.
  •  Traveling to different SYF sites across the country for three weeks as one of our signature Cross-Functional Experiences. We dedicated the three weeks to learning about Sales & Relationship Management, a function none of us work in currently. It brought my class a lot closer together, and we were able to present our findings directly to the CEO and her direct reports at their Management Committee meeting.
  •  Every year in July, the BLP Symposium provides a week-long opportunity for BLPs to reconnect at our headquarters in Stamford with various functions as an orientation for the new class. The improvements that we saw both in our fellow BLPs and Program growth overall in one year were astounding.

SYF employees participating in the 2016 BLP Symposium.
SYF employees participating in the 2016 BLP Symposium.

 

“What advice would you give to someone interested in applying to the Business Leadership Program?” 

So, my primary advice here applies to any job, not just the Program. Aside from the given of getting to know fellow alumni at the companies you’d like to work at, I think it’s essential that you ask smart questions and show a good knowledge of a company’s business model or nuances to demonstrate both ability and interest. A few really simple, informal test questions like, “How do we (SYF) make money?” can tell a lot about how interested a candidate is in the business, because the content is fundamental to every action we take as a company. Specific to the Program, carefully consider which track you want to be a part of and know how to demonstrate your leadership experience.

Dan will be on-campus for an information and networking session on September 13th. Students are welcome to reach out to him directly at Daniel.Hagemann@syf.com or connect with him on LinkedIn.

If you’re interested in applying for the SYF Business Leadership Program, visit the Credit posting and Marketing posting in Handshake.  SYF is also recruiting for internship positions.    The application deadline for all positions is October 5 @ 11:59pm.

Davenport & Company: On-Campus Recruiting

DavenportEstablished in 1863, Davenport & Company LLC is one of the oldest employee-owned, independent financial services firms in America. Headquartered in Richmond, VA, the firm offers a complete range of investment services, including comprehensive stock and bond brokerage, investment management, research, financial planning, insurance, public finance, and corporate finance.

On Tuesday, November 17, Chazzo Habliston ’13 will join us on-campus to share information about the public finance internship with Davenport.  Andrew Pope ’16, participated in this internship during the summer of 2015 and answered a few questions for us.  If you are interested in applying to this opportunity, visit the full description in Handshake.  Applications are due November 28 at 11:59pm.

Andrew Pope '16 Economics major
Andrew Pope ’16
Economics major

How would you describe Davenport’s work environment to someone who doesn’t know?

The vibe in the Davenport offices really exemplifies some of the pros of working at a smaller firm. Primarily, this was shown through the interdepartmental relationships that Davenport employees have with others at the company.  During my internship specifically, I was working in the Public Finance division, but was urged to spend time in other parts of the firm in order to really understand the way a financial services firm works.

In terms of my work with the Public Finance group, I was given a chance to really fulfill some of the jobs that the full time analysts were expected to complete. I started my internship a few weeks before they on-boarded a new analyst and our learning processes and responsibilities were very similar. The faith that they showed in my abilities was extremely important in learning to take some pride in what I was doing. Senior bankers were always asking how the process was going for me and offered their help with any questions that I may have.

What did an average workday look like?

I usually got to work around 7:45am and spent the morning working on the long-term project that I was given for the summer. Around 10, the Associate or Analyst that I was assigned to for the week would come to my desk and talk to me about the project that they were working on at the moment. Usually these projects were financial analysis for clients about refunding bonds or a quickly approaching issuance of new bonds. The banker I was working for would then explain what they would like me to do over the next couple of days and give me several tasks to have completed by the end of the week. From that point on, I worked closely with the associate assigned to the project until it was completed.

What advice would you give other Davidson students interested in applying to Davenport?

I recommend getting in touch with people at the company. They can give you a realistic expectation of what a full time opportunity with the company looks like. I would also recommend practicing any technical skills you have so that you can complete any work that they give you in a timely manner. Lastly, attention to detail is something that is taken to the next level at a company that stresses quality service like Davenport does.

Get to Know the Center for Career Development

2015 Center for Career Development Staff
2015 Center for Career Development Staff

Welcome back!  While we enjoyed a little break this summer, we are excited that campus is back to normal.  We took advantage of the quiet to do a little restructuring, plan some programming, connect with new employers, and just a few other things.  So, meet our staff and some of the great resources in the Center for Career Development!

Nathan Elton, Director
Nathan Elton, Director

Nathan’s Favorite CCD Resource: Davidson Career Advisor Network (DCAN) Some of the most common career advice you will hear is to talk to professionals in potential or identified career areas of interest.  Through DCAN there are over 800 Davidson alumni and parents who have signed up to share career advice, look over your resume, or prepare you for an upcoming interview.  Jobs and internships can be tough to land, but by using these connections you will know more about career fields that match your interests and abilities, and be better prepared for securing a position.

Jamie Johnson, Associate Director for Career Development
Jamie Johnson, Associate Director for Career Development

Jamie’s Favorite CCD Resource: Myers Briggs Type Indicator All of us have uniquely different personalities. The MBTI assessment will help give you a better understanding of your own personality, such as what energizes you or how you make career decisions. The assessment will also assist you in better understanding the people around you, whether they be at school, work or home. To take the MBTI, please contact our office at 704-894-2132 to set up an appointment to meet with a Career advisor.

 

Jeff Kniple, Associate Director for Employer Relations
Jeff Kniple, Associate Director for Employer Relations

Jeff’s Favorite CCD Resource: Information sessions are the place to make a personal connection with employers in advance of an application or interview.  They are the easiest place to make an impression with key staff members, to learn about how companies market themselves, and to learn other information that can be helpful in a cover letter or interview.  For internship and job seekers they are essential to the process.

 

 

Tiffany Waddell, Assistant Director for Career Development

Tiffany’s Favorite CCD Resource: Workshops and Programs The CCD offers workshops and events on a variety of topics for students throughout the academic year.  From getting started with LinkedIn and learning how network with Davidson alumni and other professionals, to penning the perfect resume – check out WildcatLink to learn more about what workshops are available to you this year and RSVP today!

 

 

Sarah Williams '11, Assistant Director for Alumni & Parent Engagement
Sarah Williams ’11, Assistant Director for Alumni & Parent Engagement

Sarah’s Favorite CCD Resource: WildcatLink is the best resource for accessing Davidson-specific career opportunities and resources. It is an online portal where you can apply to jobs and internships, sign up for job shadowing opportunities, and register for career-related events and programs. If you haven’t already, you will soon become very familiar with WildcatLink!

 

 

 

Jamie Stamey, Assistant Director for Internships
Jamie Stamey, Assistant Director for Internships

Jamie’s Favorite CCD Resource: InterviewStream is a great tool to help you prepare for upcoming interviews.  Record a video of yourself answering industry specific questions.  Then, critique yourself or share with a mentor to get their feedback.  You know what they say about practice!  You might also see this pop up in some of you Davidson-sponsored program applications, like Job Shadowing and the #DavidsonIE Internship Program.

 

Kate Falconi '08, Assistant Director for Employer Relations
Kate Falconi ’08, Assistant Director for Employer Relations

Kate’s Favorite CCD Resource: Vault Think of this as a huge online library of career and industry guides to help you learn about jobs and career fields, and make sure you are ready for interviews.  It also includes rankings of employers in 20 different industries, such as advertising, PR, media, banking and consulting.

 

 

 

Julie Lucas, Office Manager
Julie Lucas, Office Manager

Julie’s Favorite CCD Resource: It’s easy to schedule an appointment to meet with one of our advisors.  Stop by the office or call 704-894-2132. Appointments are available from 9-12:00 and 1:30-5:00.  For quick questions, we also offer daily walk-in times M-TH 10:00-12:00 and M-F 1:30-3:30.

 

 

 

Logan Myers, Career Adviser
Logan Myers, Career Advisor

Logan’s Favorite CCD Resource: Davidson’s LinkedIn Landing Page and LinkedIn Networking Group Want to learn what 11,000 alumni are doing based on their major, where they live, what they do and where they work?  Davidson’s LinkedIn Landing page is an easily searchable system to learn about alumni based on these and other criteria.  Want to interact with alumni in LinkedIn?  Check out the Davidson College Network Group, where you can send messages to over 6,000 alumni.

 

Internship & Job Challenge: Meet Wilson Purcell ’15

Wilson Purcell '15
Wilson Purcell ’15

Wilson Purcell ’15 had the great opportunity to intern with Coleman Research Group in Raleigh, NC.  The internship was shared by Ali Gores ’10.  Read on for an overview of Wilson’s experience.

Q: What originally drew your interest to this particular position?

A: I was drawn to the internship by the opportunity to speak with accomplished professionals from various backgrounds / industries. I figured that I would get to hear some interesting stories and learn about career paths that I wouldn’t have thought to research.

Q: How did the experience impact your career goals and your next steps?

A: This may not be the answer you’re looking for, but the experience didn’t really change my career goals all that much. I am still interested in finance and consulting work. Working at Coleman, though, showed me just how much working in an open and friendly office environment makes the work more enjoyable. If anything, working at Coleman shifted my focus in that I am now looking to work for smaller, more intimate companies.

Q: Can you share one brief story about a specific project, moment, etc. that was particularly impactful?

A: The executive officers of the company are mostly based in the New York office with one of them in London and two in Raleigh, but I got to meet each of them over the summer. They all met in Raleigh for a few days, and the CEO and founder Kevin Coleman came another time by himself. On his solo trip, he sat at the cubicle next to me to get some work done. He seemed busy, so I didn’t bother him. Once he had some free time, though, he introduced himself and talked to me for a bit. I thought it was really cool that he spent some of his limited time in the Raleigh getting to know the summer intern.

Current students can view postings for summer internships and entry-level positions presented by Davidson alumni and families for the 2014-2015 Internship & Job Challenge on WildcatLink.

Internship & Job Challenge: Meet Leon DaSilva ’17

Leon DaSilva '17
Leon DaSilva ’17, Economics & Mathematics

During the summer of 2014, Leon DaSilva ’17 had the opportunity of a mentorship at Merrill Lynch in Bridgewater, NJ.  The opportunity was presented to students by Davidson parent, J. Edward Murphy as part of the 2013-2014 Internship Challenge.  Read below to learn about Leon’s experience.

Q: What originally drew your interest to this particular position?

A: I wasn’t really sure what I was interested in doing by this point.  I knew I liked math and economics, but I had not done much thinking about careers.  I saw that the program accommodated students with little to no previous exposure to finance and thought it would be a good fit for me.  It would be a good learning experience, and I figured I would be much further along in figuring out what I might want to do after graduation.

Q: How did the experience impact your career goals and your next steps?

A: The experience helped me tremendously.  For one, I was able to discover my interest in finance.  I came in not knowing if it was something that was for me, and left thinking that it would be the ideal field for me to pursue after Davidson.  On top of all the working knowledge I gained from the experience, I was also able to learn about the recruiting process and how to break into the industry.  I came to realize how competitive the field is, and how much networking and outside learning I would need to do to stay competitive.  If I did not complete the program, I would not even be close to knowing what I know now.  Most importantly, I was able to establish a relationship with a helpful and dedicated mentor in Mr. Murphy.

Q: Can you share one brief story about a specific project, moment, etc. that was particularly impactful?

A: One day a student who had also done the program and had just gotten back from the London School of Economics taught us some general modeling.  He showed us the Black-Scholes model (a pricing model) and I was just absolutely fascinated by it.  I asked him and Mr. Murphy about it and they suggested that I start reading John Hull’s Options, Futures, and Other Derivatives to learn more.  I started reading different sections of the book and also found a derivation of the Black-Scholes Model.  I didn’t know enough math at the time to understand each step, so I spent a couple days learning some probability theory and stochastic calculus from articles and papers online.  It was interesting for me because I had finally found a field which combined all my favorite academic interests.  We had to write a report on a topic of our choice for the program and I ended up writing mine on the model.  I put a lot of effort into it and receiving positive feedback on it was very rewarding.

Current students can view postings for summer internships and entry-level positions presented by Davidson alumni and families for the 2014-2015 Internship & Job Challenge on WildcatLink.

Citco – Finance Positions within a World-Leader

Representatives from the Citco Group of Companies came to campus to support a range of full-time and internship opportunities at their relatively new but growing Charlotte location.About Citco

Citco helps to track the investments and holdings of many types of investment funds to support both the clients and the financial controllers who make the investment decisions on their behalf. At their core they are an accounting firm, but the types of challenges they face daily go well beyond the “vanilla” investment portfolios of many mutual funds. As new types of deals have evolved and investment opportunities have become more complicated, the need for organizations like Citco to bring accuracy and clarity in financial record keeping and transparency to all stakeholders has become essential. As the representatives mentioned a couple times, “Bernie Madoff was very good for our business. “

Accounting is key to their work, but not essential to a student’s training before coming to Citco.

Citco came to Davidson to find the type of student who can learn quickly and handle the complexity of the deals that the company helps to manage. They look for students with either a strong understanding of accounting, or a strong understanding of financial capital markets AND the ability to learn the other side. From Davidson, they believe that our students can see Citco as a place to build a career and stay in multiple roles, or perhaps take the knowledge they gain and go into the management of their own funds, other financial services careers, or greater business endeavors.

The culture of Citco will appeal to many Davidson students as well. With casual attire as the rule, beer and wine after 5:00 in the office, a staff that trends younger than average and a variety of social events throughout the year, the Charlotte office may be a good fit for a new graduate or a summer intern.  But with operations in 40 countries, Citco employees may take their work to other offices around the world as well.  Look for their positions in WildcatLink and apply soon!

Goldman Sachs Vice President Visits Campus!

GS LogoOn Wednesday, October 8, 2014, Mr. Rob Hutchinson ’77, a Vice President at Goldman Sachs Wealth Management, came to campus to give a general overview of the company and specifically the Wealth Management division.  Sarah Duncan ’15, joined Mr. Hutchison for the conversation.  Sarah had the opportunity to work in the New York office as a 2014 Summer Analyst, and will be returning next July as a full-time analyst.

Mr. Hutchinson, a native of North Carolina, was an English major at Davidson and has been with Goldman Sachs since 1987. He explained the differences between the divisions at the firm, the differences in culture, work hours and basic roles that people within the firm play. The information session focused mostly on Goldman Sachs as a company, the Investment Banking Division, and the Asset Management Division.

The Asset Management division is responsible for money management and is a client-facing position. Sarah Duncan explained that her mornings were made up of talking to clients about their personal accounts, the market, and helping the financial advisors with anything they needed. Every morning during her 10-week internship, she spoke to one particular client, to the extent that she built a solid personal relationship with this client. This is what a typical day looks like for a analyst. As analysts progress in wealth management, they move closer and closer to client-facing roles. Duncan and Hutchinson also emphasized the difference in time commitment in investment management, in comparison to the investment banking division. In her role, Sarah Duncan arrived at her internship by 7:00am at the latest, and departed after 9:00pm, working about 60 hours every week.

Hutchinson spoke about the culture of Goldman Sachs, and honed in on the “client” aspect of the 14 business principles upon which the business is built. He emphasized that, at Goldman Sachs, clients always come first, and the “long-term greedy” partnership that is forged with clients reflects this principle. Furthermore, the company invests in the people that work there. Sarah Duncan gave the example of how she received over 45 business cards after two super days. At Goldman Sachs, fit is very important, and during the interview process the interviewers are looking for someone who will be a good fit for the company.

If you are interested in learning more about Goldman Sachs, you are encouraged to reach out to Sarah Duncan about her experience over the summer.

Summer 20115 Analyst applications were due on October 19th.