As the culture changes at banks and Wall Street investment firms, so has the profile of entry-level talent recruited to begin their careers in the industry.
Potential candidates engaged in high-energy networking shared their experiences recently at a reception for 42 Bermont/Carlin Scholars at the University of Miami School of Business Administration.
The attendees included 22 juniors who would soon travel to New York City to meet and explore business models and internship opportunities with select investment, commercial and universal banks. Attendees also included 20 seniors who had already completed the Bermont/Carlin Scholars Program and were on their way to beginning their careers after graduation.
These are some of the best students in the SBA and they all seek meaningful employment.
“I’m here to meet smart, ambitious candidates who fit into PNC’s culture. We recruit candidates through Hire a ‘Cane for our three- to four-year collaborative management trainee program,” said James Cullen, PNC banking underwriter.
The Bermont/Carlin Scholars Program was created nine years ago and continues to be supported by two generous donors and investment industry professionals—Richard B. Bermont and Adam E. Carlin. Both Bermont and Carlin are wealth managers at Morgan Stanley’s Bermont Carlin Group.
Every spring, UM sophomores interested in careers in the investment industry may apply to be named Bermont/Carlin Scholars. The criteria for selection to join the Bermont/Carlin Scholars Program includes academic performance, written and oral presentations, personal characteristics and experience.
As an extra-curricular activity, Bermont/Carlin Scholars meet during the fall semester weekly for approximately six to eight weeks with SBA Finance Professors Andrea Heuson and Brian Barrett to role play networking scenarios, learn about business etiquette and how to target and successfully earn an internship in their chosen industry sector. As part of the program, each Bermont/Carlin Scholar prepares an in-depth research report on a target bulge-bracket firm that offers summer internships in the New York City area.
“As an economics/finance major, I had an internship in finance at the Miami branch of UBS wealth management. The Bermont/Carlin Program gave me the opportunity to expand my network to New York City. From my internship experience I was able to connect with the UBS NYC-based recruiter, from whom I recently accepted an offer,” said senior David Silverman.
Senior Riva Trivedi majored in finance, legal studies and health sector management and policy. She seeks a career in the healthcare segment of investment banking. Her targeted niche was Royal Bank of Canada’s healthcare banking group in capital markets.
“This past summer I had an exhilarating experience and learned how to advise clients on raising capital, and mergers and acquisitions in the healthcare sector. I see myself working in a role at the intersection of healthcare and business,” said Trivedi. She just accepted a full-time offer there.
During various presentation to the scholars, business representatives encouraged students to focus on ethics and hard work as interns and potential employees of the firms, and characterized the Bermont/Carlin Scholars Program as a win-win for the industry.
“I’m very proud that every firm on Wall Street has hired a Bermont/Carlin Scholar,” said Bermont.
The Bermont/Carlin Scholars Program offers an experiential learning opportunity to see and learn outside the classroom. “With so many incredibly smart students, we want to provide them with exposure to investment firms, and the firms can see the potential, and if there is a ‘Cane already at the firm, they also mentor, nurture and hire the UM graduate,” said Interim Dean Anuj Mehrotra.
The selection process for the 2017-2018 Bermont/Carlin Scholars will begin in April 2017.
Click here to apply online.
For additional information on the Bermont/Carlin Scholars program, please contact Brian Barrett (bbarrett@miami.edu) or Andrea Heuson (aheuson@miami.edu) in the Finance Department at the University of Miami.
