Helpful Information
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A Message to Our Members Regarding COVID-19
To all members of Finance Connection,
2020 seems to have brought about more mayhem and panic than most of us would ideally like. For most of you that are undergoing the very challenging recruiting process, such grave uncertainty is never welcome. In accordance with Chancellor Yang's guidelines, we will be canceling ALL in-person meetings and events scheduled for Spring Quarter 2020. Like most of you, we hoped that we would be able to continue offering guidance to UCSB undergrads through the rest of the 2020 year, and are disappointed that this will not be the case.
Given the current market turmoil and corporate work-from-home policies, I am sure most of you are wondering what this all means for the recruiting process. Below we have outlined several important tips and pointers based on our discussions with industry professionals and others who are currently in-line to start their internships this summer.
Summer Recruiting will Likely be Online / Delayed:
Staying Sane During this Period:
- Nima Karamlou Co-President '20
2020 seems to have brought about more mayhem and panic than most of us would ideally like. For most of you that are undergoing the very challenging recruiting process, such grave uncertainty is never welcome. In accordance with Chancellor Yang's guidelines, we will be canceling ALL in-person meetings and events scheduled for Spring Quarter 2020. Like most of you, we hoped that we would be able to continue offering guidance to UCSB undergrads through the rest of the 2020 year, and are disappointed that this will not be the case.
Given the current market turmoil and corporate work-from-home policies, I am sure most of you are wondering what this all means for the recruiting process. Below we have outlined several important tips and pointers based on our discussions with industry professionals and others who are currently in-line to start their internships this summer.
Summer Recruiting will Likely be Online / Delayed:
- Many current UCSB students that have superdayed for investment banks have reported doing online interviews. It seems like some banks have indeed continued their processes. For those of you in the process for a bank that will be doing an online interview, we suggest that you practice with a friend via skype / google hangouts to get used to the online format. It is likely that the questions will be the same as they would be in an in-person format.
- Some interviewees / contacts have reported experiencing delayed interview processes. For those of you who are in the application and networking process, we suggest that you continue your efforts. While some banks may delay their process, it never hurts to continue to speak to industry professionals and build connections. Moreover, it is likely that individuals will have more free time given the slowdown in activity from COVID-19. With that being said, we advise those looking to plan in-person networking trips to postpone them to a later date as it is likely that no industry professionals will want to meet with you / will be able to meet with you.
- For those of you who are wondering if FT / internships will be canceled, we have not yet heard any news about such decisions. As of now, both Goldman Sachs and Morgan Stanley have issued statements upholding their current start dates. We advise that you all avoid conjecture and speculation about what could happen and instead focus only on what is in your control.
- For up-to-date information on how the crisis is immediately impacting investment banking internships and recruiting, we suggest you check-out the following links:
- https://www.goldmansachs.com/media-relations/in-the-news/current/03-12-2020-message-to-incoming-hires.html
- https://www.wallstreetoasis.com/forums/covid-19-and-2020-summer
- https://www.wallstreetoasis.com/forums/coffee-chats-and-covid-19
- https://www.wallstreetoasis.com/forums/covid-19-affect-on-sa-2021-recruiting
Staying Sane During this Period:
- We understand that the COVID-19 epidemic represents a dramatic reversal of fortunes for many people. With this being said, we strongly urge you all to reflect on past instances of crises and realise that this too shall pass. It is imperative that we all try and reflect on our current goals and find ways to meet them irrespective of whatever comes our way.
- For those of you that are struggling to focus on finals given the constant stream of negative headlines, we suggest that you all take a moment to tap out of the news cycle and focus on the present. If you know that you have finals coming up in the next couple days, try thinking about how a strong finish to this quarter will help your future employer have another reason to hire you. Letting go of what is out of our control in times like these is a skill that takes practice, and the time to get that practice is now!
- Do not be a stranger and please do reach out to any of our board members with questions / concerns and we will answer them to the best of our ability.
- Nima Karamlou Co-President '20