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MAY 2003 MBA JOURNAL: INTERNSHIP INTERVIEWS John Liang: Navigating the Process [Page 2 of 2]
In my particular case, since recruiters were questioning my financial and analytical capability, getting a summer position in corporate finance seemed a realistic stepping stone to my future career goal in real estate. On the one hand, it would help hone my financial and transactional skills; on the other hand, when it is time for full-time recruiting, I will probably have an easier time convincing employers that I actually have the caliber and experience to handle the analytical financial aspects of the business. With that game plan in mind, I started casting my net much wider and dropping more resumes to companies that recruited after DIP for corporate finance positions. I particularly looked for firms that have MBA rotation programs, where summer interns gain exposure to various facets of the financial operation, such as accounting, auditing, acquisitions, structuring, etc. I found that these companies were generally less picky about candidates' prior formal financial training, but instead put more value on general project management experience and leadership potential. One interviewer told me, "We take it as a given that the majority of Wharton students have solid analytical skills. Now you just have to demonstrate that you possess the quality to be a leader in our company a few years from now." I'm not sure if that view is shared by others in Corporate America, but my luck in the post-DIP round was certainly better. Quite a few recruiters expressed strong interest in my prior experience in managing large-scale construction projects, even though these companies' businesses had nothing to with the construction industry. A few weeks later, I received offers from a couple of well-respected companies in the energy industry after being invited to fly to their headquarters for final rounds of interviews. However, to paraphrase Forest Gump: The recruiting process is like a box of chocolates, you never know what you are going to get. One Sunday afternoon, I got an unexpected phone message from an investment bank based in Washington D.C., asking if I was interested in interviewing with its real estate group. The recruiter had seen my résumé posted on Wharton's online "MBA Résumé Book," and the group happened to be looking for a summer associate from Wharton with relevant industry knowledge and experience. (Hint to class of 2005 – yeah, they do read the resume book!) The rest is history. I was invited to meet with the real estate group at the bank, Friedman, Billings, Ramsey Group, and subsequently offered a job. Clearly, this offer reopened the door to real estate for me. Whether I will decide to pursue a full-time career in the financial sector of real estate or seek opportunities in traditional real estate companies, this internship will definitively help answer any skepticism about my financial and analytical aptitude. More importantly, the equity research group I'll be working with covers publicly traded real estate developers, operators, and mortgage companies. The analysts have a wealth of knowledge of the industry and I may even get networking opportunities with major real estate companies. Today, coming home from the post office after mailing my acceptance letter, I let out a big sigh of relief. But I find it rather difficult to explain my feelings. Yes, I know I am in a very fortunate position – the job is nearly ideal for me, and I owe a lot of gratitude to the recruiters who had confidence in me. Yet, I hardly feel any sense of exhilaration. Is it because of the exhaustion from a long, grueling recruiting process? Or is it because many of my close friends are still struggling out there in the recruiting battlefield? After a depressingly frigid, gloomy Philadelphia winter, sunshine is pouring into my 35th floor apartment -- and I can't help noticing that spring has finally arrived. I also can't help noticing the tons of disorganized recruiting materials, downloaded company financial reports and brochures scattered around my apartment. Then, there were tons of missed class reading assignments and case write-ups to catch up on, tons of un-returned e-mails from friends and family to go through, piles of Wall Street Journals and BusinessWeeks that I haven't had time to read at all. There's also a stack of wasted season tickets to Philadelphia Orchestra concerts (the concert hall is literally next door to my building). What have I been doing for the past few months? Well, like 800 other Wharton first-year MBAs, I looked for a job. We wrote heartfelt "thank-you" notes to every recruiter and interviewer whose name we could remember, because we were told how critical those were in keeping us on recruiters' "radar screens." We spent 20 minutes on each cover letter, crafting sincere words to each of the dozens of companies each of us applied to. We went to recruiters' "pre-events" – events companies billed as a way to "get to know applicants better" the night before first-round interviews and that, in fact, were just another chance for recruiters to size up the pre-selected candidates – and we didn't leave until we had spoken to each company representative. We each mock interviewed like crazy with a dozen eager-to-help second-year folks, practicing over and over again on imaginary interview questions about our "three strengths" and "three weaknesses." Why did we do all this? Because we were told we had to in order to get a job. Did I get to spend quality time with my wife on the weekend, or on my favorite course readings on weekdays? Did I get to fulfill my club and community service commitments? Did I get to see that opera I had long been waiting for? Not really. I was constantly telling myself that I would do all this "other stuff" when I had time. Now, with a job in my hand, it just suddenly hit me: Isn't all that "other stuff" what the MBA experience should be about? I know many of my classmates have had a much less jaundiced view of the internship recruiting process than I. In fact, some highly efficient ones managed to do things they wanted to do while trying to land a job. Perhaps it's just me losing my perspective. After all, I did do some fun things this semester. I helped organize the annual Wharton Chinese New Year Party, named by many as Wharton's "event of the year," didn't I? Whatever happened is behind me now. I have again promised myself that I will never miss class during the semester and that I will do every single reading assignment. I have signed up for more extracurricular activities, such as admissions graduate assistantship and "Rebuilding Together." Wharton Welcome Weekend is just around the corner, and I have been representing the school in contacting newly admitted students this past couple of weeks. My Welcome Weekend still seems like yesterday and now it's my turn to be on the organizing side of it. I know it's going to be good one...
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