Wednesday, February 1, 2012

Alumni assist students on Wall Street; Society helps secure interviews

By on April 27, 2011

A few more Bulldogs will be on Wall Street this summer.

This year, six students secured internships on Wall Street with investment banks such as Barclays and Wells Fargo.  Three other students found regional internships as well.

The Corsair Society gives students pursuing investment banking jobs a chance to debut on Wall Street.

(From left) Seniors David Shteyman, Nishil Patel, Jerry Nowlin and Pamela Chaliff interned on Wall Street last summer and have mentored younger students this year. Photo by Kathryn Ingall | The Red & Black

Jerry Nowlin and Nishil Patel are two of four returning seniors who interned with investment banks on Wall Street last summer and will return at the end of the year for full-time jobs.

The Corsair Society began five years ago when two University alumni wanted to give University students a better chance at Wall Street jobs.

The two alumni saw that top students in the University’s business school were as qualified as students graduating from Ivy League schools, but didn’t have the same opportunity to interview for jobs.

“It’s very different for students from non-target schools,” said Nowlin, a finance and accounting major from Mobile, Ala.

He said schools such as Duke and Vanderbilt are considered off the beaten path, which makes it even more difficult for students from the University to compete for those jobs.

“I think we realize that Georgia is one of the best schools in the SEC, but someone outside the South may not,” Nowlin said.

Patel, a finance major from London, said the Terry College of Business prepared him well for his internship last summer.

Patel found the case studies in the capstone finance class taught by University lecturer Matej Blasko useful in preparation for his job.

Nowlin said the fact that University students pay for their own plane ticket to interview in New York shows employers a high level of commitment.

“In the interview I think we have a leg up because we’ve all shown that drive,” Nowlin said.

Each September, 10 students are selected to begin preparation for their trip to interview in New York.

They meet once a week to discuss technical aspects of banking and prepare with mock interviews.

This year, the Corsair Society received 80 applications for the 10 available positions.

“It’s easy to spot the people who pick up the Wall Street Journal and read the headlines and expect to get away with it,” said Patel about interviewing students for a place in the Corsair Society.

When they arrive in New York they meet with University alumni working on Wall Street who speak to candidates and secure interviews at their own firms based on who they think will be the best fit.

A typical day working at an investment bank would begin at 9 a.m. and could continue until the late hours of the night.

Patel said while working during the summer, he would sometimes even work past midnight to get work done for early the next morning.

“The compensation is pretty good,” Nowlin said. “But more than that it’s the experience you gain.”

He said such job experience is an important signal of hard work and dedication for future employers.

“Almost everyone who got an internship went on to a full-time job,” Nowlin said. “I’m excited to move to New York, and I really like the city.”

But before he makes the trip in July to begin work for Barclays, Nowlin said he needed to  go shopping for some more new suits.

“I wore pleated pants this summer and I got made fun of,” he said.

Despite young interns who attempt to stand out by wearing expensive and flashy clothing, Nowlin said it is more important to stand out by producing high-quality work.

Nowlin and Patel both agreed the thing they will miss the most about leaving Athens is the carefree life of a typical University student.

“Having a say in how I spend my time is certainly going to be missed,” Nowlin said.