Memorandum. Audience Analysis

Transcription

1 Memorandum To: Professor Leslie Mateer From: Juan Jose Castro Subject: Analysis of Resumes and Cover Letters Date: September 28, 2011 The purpose of this memo is to inform you about the two positions I decided to apply for at J.P. Morgan Chase & Co. and Harvard Business School, and to explain the factors I considered when writing my resumes and cover letters. The memo is divided into three sections: Audience Analysis, Job Descriptions, and Rhetorical Analysis. The Audience Analysis section covers information on the institutions offering the position and on the audience that will likely read the application materials. The Job Descriptions section analyzes the tasks and requirements for the positions that I am applying to. Finally, the Rhetorical Analysis section explains the reasoning for adapting the materials based on the rhetorical context and purpose of the application. J.P. Morgan Chase & Co. Audience Analysis J.P. Morgan Chase & Co. is a leading financial services institution based in Manhattan, NY. J.P. Morgan is one of the largest publicly traded companies, occupying the 1 st spot in the Forbes Global 2000 list and employing 250,000 people throughout the world. The company is divided into 3 divisions. The Asset Management Division provides investment management services for high net worth individuals and institutions. The Investment Banking Division provides corporate finance advisory and capital raising services. The Commercial Banking Division provides deposit and savings account, and corporate lending. The firm is widely known for its professional services and for its down to earth culture. The firm s vision according to its CEO Jamie Dimon is to be the world s most trusted and respected financial services institution. Since I am applying to a position in the Investment Bank, the person reading the application will be a recruiting officer from the Human Resources Department at the Investment Bank. Specifically, the department has an IB recruiting team that handles the application process. Given the high number of people applying for the position, the recruiters impose some cutoffs like a minimum G.P.A. of 3.5. The application process is very structured and involves several rounds of interviews made by analysts and associates in the Investment Bank. Harvard Business School Harvard Business School (HBS) is the graduate business school of Harvard University. HBS is a very prestigious school and is ranked as one of the top business schools in the world by several organizations. The school offers one of the largest and most selective MBA programs in the U.S., receiving around 9,000 applications for the MBA program each year and accepting only 900 people. HBS is widely known for shaping leaders that shape the world, using a collaborative

2 learning culture that involves its well-known case method, in which 95% of the teaching is made though analyzing real cases. The audience reading the application materials will be an officer from the Admissions Department. Given the structured process of the application and the high volume of applicants, admissions officers must be extremely selective. The most important aspects in the application that the officer will review are the essays, G.P.A., and GMAT scores. As mentioned above, HBS is focused on shaping leaders that will have an impact in the world, therefore every part of my application has to be tied with leadership qualities. Job Descriptions J.P. Morgan Chase & Co., Investment Banking Analyst The biggest revenue producing division at J.P. Morgan is their investment banking arm. The division provides corporate finance advisory to firms, specializing in products like mergers and acquisitions, equity raising and debt structuring. Given the high volume of transactions and the different nature of clients, the division is divided in industry groups that cover clients in different industries, like energy or consumer and retail. Also, the division has three product groups that have expertise in the three products mentioned above. The position I am looking for at J.P. Morgan is as an investment banking analyst in one of the industry groups. The main tasks performed as an analyst are the creation of valuation models and the structure of pitch books for clients. The tasks involve mostly working in Excel and PowerPoint for creating financial models and presentations. The position is open to students in any major, so there will be a high level of competition for the offers. The investment banking analyst position requires technical skills, efficient work under pressure, and critical thinking abilities. The applicants need to understand the drivers of value from a company, and be able to determine what models the situation requires. Also, the industry operates in a fast-paced environment, and another characteristic that is necessary is the ability to work under pressure. Harvard Business School, 2+2 MBA candidate Harvard Business School offers several graduate programs depending on interests. The most popular program is the Master in Business Administration, which is a 2 year program focused on giving students expertise on different areas of a business. The program has different sections of 90 people that take classes during the first year together. In addition, Harvard develops learning groups that consist of 6 students that gather before class to discuss the topics and cases that will be covered. A unique characteristic of HBS is that you are in the same learning group for the entire year, so it is an opportunity to create long lasting relationships. I am applying to the MBA program at HBS through a special application called 2+2. The 2+2 program is offered to college seniors that want to secure admission in HBS for two years after graduation. The applicant has to work at an approved institution for the two years after

3 graduation, and then enroll in the MBA program. It is very common for seniors in Ivy League schools to apply to this program, which is one of the reasons for which the application process is very competitive. Admission officers are focused on finding students that have had extraordinary achievements in college, to demonstrate that they will add value to the program and enhance the learning experience. The most important qualities that admission officers at HBS are looking for in candidates are leadership, teamwork, and intellectual capacity. Harvard is focused on attracting students that will take initiatives to shape the world. The learning environment in the MBA program is very demanding, requires a lot of time commitment, and involves teamwork activities. I believe this is an opportunity for me to emphasize in the leadership roles I have taken in my extracurricular activities, my academic achievements, and experiences I have had in which teamwork was critical. Rhetorical Analysis The two positions I am applying for are of completely different scope and require different qualities. Therefore, the application materials for the two positions are not similar. One application focuses on technical knowledge and experience in the industry, while the other emphasizes on leadership and teamwork abilities. In this section, I will explain my considerations and reasoning for altering my application materials in order to target the specific position. J.P. Morgan Chase & Co. Application Materials In the cover letter to J.P. Morgan I focused on providing credibility about my technical abilities and knowledge in the industry. Since students from all majors apply to the position, I believe that I can stand out because I have had experience in some of the topics in the industry. I started the cover letter with a standard first paragraph, in which I mention my interest in applying for the position. One key point I added in the paragraph is that I interned with J.P. Morgan last summer, something I wanted the recruiting officer to know it right away because it gives me credibility. In the second paragraph I comment about the skills and technical knowledge I have acquired through my college career and mention the fact that I have been able to succeed academically. I also talk about my extracurricular involvement, which is a sign of my commitment and initiative for learning. Since the position requires experience in the industry, the recruiter can see that I was involved with a student managed fund while I was in school. I used this experience as an opportunity to list some of the valuation skills I acquired in addition to what is taught in class. After talking about my college experience, in the third paragraph I introduce my internships. In the first part of the paragraph, my purpose is to demonstrate my diversity, since I have experience working outside the U.S. in the finance industry. In the second half, I try to leverage the fact that I interned with J.P. Morgan during one summer, and use it as evidence of my interest and familiarity with the company. My goal is to elaborate on the skills I acquired through the summer, and convince the recruiting officer that I am a qualified candidate who can do well

4 in a demanding work environment. The fourth paragraph is a typical conclusion with my contact information and a formal thank you note. When designing my resume, I included my education and then my relevant finance experience at the top. My reasoning was that recruiting officers are interested in knowing an applicant s experience and the type of knowledge they have in the industry. I also included the internship I did with J.P. Morgan at the top because it will give me an advantage against other applicants. After listing my experience, I added a section of leadership that shows my extracurricular commitment in school. This will give the recruiter an idea of my motivation and initiative for undertaking projects. At the bottom of my resume I added some of my skills to give the recruiter an idea of my personality and interests. Harvard Business School Application Materials Instead of a cover letter, my Harvard application requires a 400 words response for the essay question Why do you want an MBA? In this essay I focused on listing the reasons for which I want to obtain an MBA at Harvard Business School. The admissions officer is looking for signs of personal motivation, passion about the program, and alignment with personal goals. In the essay I give three different reasons for which I want to be in the program, each outlining different characteristics of the program. In the second paragraph I mention the importance of the program to my learning experience and my intellectual achievement. According to the HBS website, one of the important qualities they are looking in candidates is the capacity for intellectual growth. In the third paragraph I introduce the importance of learning from other people, and the opportunity to work together in order to obtain better results. In the fourth paragraph, I align my long-term goals with my MBA experience. I demonstrate that there is a tangible link on how the experience will help me to achieve what I want to do in the future. I also mention my community citizenship by highlighting the social aspect and value of a business. For my resume, I changed the order of the sections by putting leadership at the top. My reasoning was that the MBA program outlines that leadership is one of the most coveted skills needed to perform well in general management. In the leadership section I talk about my extracurricular activities in which I have had an active role in making decisions that will impact the organization I was involved with. The second section includes my internships, which is evidence that I have experience which could add value to the program. In the relevant experience section I added a non-profit organization for which I volunteered for a summer. This demonstrates my civic engagement, which is also an important quality for the program.

5 246 Highland Ave. Apt 303 State College, PA J.P. Morgan Chase & Co. 383 Madison Ave. New York, NY September 27, 2011 Dear Human Resources Officer, I am interested in applying for a position in J.P. Morgan Chase at the Investment Banking division. I learned about the position because I interned at J.P. Morgan last summer. I believe my education and skills make me a qualified potential candidate for the position. I am currently in my senior year at Pennsylvania State University, where I am double majoring in finance and economics. Throughout my college career, I have gained experience and technical knowledge on the principles of financial valuation and economics of a corporation. In addition to my classes, I am an associate analyst in the consumer staples sector of the Nittany Lion Fund, which is a $4 million dollar student managed fund. Through this experience I have been able to learn more about valuation models and performed fundamental analysis and discounted cash flow valuation. I have developed an understanding of technical concepts in finance and have demonstrated I can work under pressure and that I am able to succeed academically. Beyond my schooling, I have had two internships related to the industry. During my sophomore summer I interned with a local holding company in Ecuador where I performed valuation analysis in order to determine the viability of investing in a hotel. My second experience was last summer when I interned with the Natural Resources Group at J.P. Morgan. This opportunity improved my critical thinking and teamwork abilities. I developed an operating model in Excel for a chemicals company, a task that boosted my technical abilities. I also proposed a merger for a regulated utility by closely working with two members of the group. I have demonstrated that I can efficiently manage multiple projects at a time, and effectively meet requirements from supervisors. The skills described above and in the enclosed resume are demonstrations of my qualification for this position. I greatly appreciate your consideration and time in reading this letter. Please feel free to contact me at or jjc5239@psu.edu at your convenience. Looking forward to hearing back from you. Sincerely, Juan J Castro

6 Juan Jose Castro Mobile: (814) School Address: 246 Highland Ave Apt 303, State College, PA EDUCATION The Schreyer Honors College, The Pennsylvania State University University Park, PA Bachelor of Science in Finance, Bachelor of Science in Economics Class of 2012 GPA: 4.0/4.0 Awards: Bunton Waller Scholarship, Robert Tripp Scholarship, President s Freshman Award, President s Sparks Award, Evan Pugh Junior Award, J.P. Morgan Launching Leaders Scholarship RELEVANT EXPERIENCE J.P. Morgan Chase & Co. New York, New York Investment Banking Summer Intern Natural Resources Group Summer 2011 Assisted in the due diligence process and performed valuation analysis for a buy-side acquisition of a chemicals company, including a discounted cash flow model, trading comparables and an operating model Developed strategic analysis books including merger proposals, financing and funding models, and optimal capital structure for clients in the power, chemicals, and metals and mining industries Nittany Lion Fund, LLC University Park, PA Associate Analyst of Consumer Staples Sector Spring Present Manage a portfolio of $430,000 in the Consumer Staples sector of the $4.2MM Nittany Lion Fund, which has 68 investors Conduct quantitative and qualitative analysis of equity securities including discounted cash flow model, market comparables, financial ratios, and research from Bloomberg, SEC filings and research reports Present buy/sell pitches for companies in the sector to executive board and other managers for approval Smeal Trading Room University Park, PA Analyst FactSet group Fall Spring 2011 Prepared and delivered biweekly presentations to educate students on analyzing financial instruments in FactSet Attend seminars on FactSet by employees from the company to gain proficiency with the software Tutobienes S.A. Guayaquil, Ecuador Analyst Summer 2010 Performed financial analysis and valuation for the viability of investing in a Holiday Inn franchise Discussed valuation, projections, and industry and economic analysis with external executives to determine the risk and profile of the project Losning Business Solutions Guayaquil, Ecuador Junior Analyst Summer 2009 Performed market research examining potential strategic decisions for a client Developed and delivered presentations to superiors and clients on a proposed merger strategy Held meetings with representatives of the clients to align interests of the project LEADERSHIP Innoblue State College, PA Consulting Group President Fall Present Develop relationships with five startup ventures in State College by consulting them and facilitating resources Design an educational curriculum focused on educating students about the consulting industry including case studies, interview preparation, strategic thinking and corporate strategy Schreyer Honors Consulting Group State College, PA Project Leader Spring Present Serve as the case study project leader for an organization of more than 25 people focused on proving resources and preparing students that want to follow a career in management consulting Conduct biweekly case studies with a group of 10 students that involve topics like profit optimization, business expansion, and mergers and acquisitions to prepare students for consulting interviews Dannon TRUST Challenge White Plains, NY National Finalist Spring 2010 Selected among students from around fifteen universities to compete as part of a team in the national finals for a business case competition, presented to executives at Dannon s headquarters Presented the case, which included SWOT analysis, pro-forma statements, and a profit and loss analysis SKILLS/ACTIVITIES Fluent in Spanish and English, 3 rd level Italian diploma, PADI certified scuba diver, soccer, reading, outdoor activities

7 Program Ad: Harvard Business School Program Class of 2016 Application Steps The 2+2 Program is an application process for rising and current college seniors to apply to HBS. It is comprised of two years of professional work experience followed by two years in the HBS MBA Program. Upon graduating from college, admitted 2+2 students spend two years working in a professional, HBS-approved position in the public, private, or nonprofit sector. The 2+2 Program attracts accomplished college seniors from all fields of study. We're looking for innovative thinkers who have demonstrated leadership and analytical skills and want to apply their knowledge and passion to make a difference in the world. Are you eligible? To be considered for admission to the 2+2 Program Class of 2016 (entering Fall 2014), you must be graduating from your college or university between October 1, 2011 and September 30, This timing applies to candidates from bachelor degree programs as well as joint bachelor/graduate degree programs. HBS on your campus HBS will visit several college campuses this year. Please check our Events page for more information (please note: this list will continue to be updated throughout the year.) If you are interested in having HBS host a webinar for your college on the 2+2 Program, please 2plus2@hbs.edu Step 1: Get Prepared To be considered for admission to the 2+2 Program, you must complete the following: GMAT or GRE (including AWA) taken January 1, 2007, or later TOEFL or IELTS taken January 1, 2010, or later, if you are an international applicant attending a non-english-speaking undergraduate university Step 2: Decide When to Apply You have four options: Summer Round: Application Deadline - July 6, 2011 Interviews by invitation only - August 17 through (Notification - September 2011) Round 1: Application Deadline - October 3, 2011 (Notification: December 2011) Round 2: Application Deadline - January 10, 2012 (Notification: March 2012) Round 3: Application Deadline - April 10, 2012 (Notification: May 2012)

8 Note: Dates for Rounds 1, 2, and 3 are the same as regular MBA Application deadlines. Step 3: Write Your Application The application for the 2+2 Class of 2016 consists of the following: 4 Essay Responses Current Resumé 2 Recommendations Uploaded transcripts from all undergraduate academic institutions attended (full- or parttime) GMAT or GRE scores from a test taken January 1, 2007, or later TOEFL or IELTS scores from a test taken January 1, 2010, or later (if applicable) Signed HBS Community Values statement Signed Statement of Application Integrity Nonrefundable U.S. $100 application fee (credit card only) All applications and recommendations must be submitted online. 2+2 Essay Questions The 2+2 application will be available online the week of May 9, The 2+2 application essay questions are listed below should you wish to work on your application in advance of this deadline. 2+2 Application: Essay Questions for Applicants All application questions below are required. Tell us about three of your accomplishments. (600 words) Tell us three setbacks you have faced. (600 words) Why do you want an MBA? (400 words) What would you like the MBA Admissions Board to know about your undergraduate academic experience? (400 words)

9 Why do you want an MBA? Experiences have contributed to form the context in which my personality and potential have developed. I have always pursued routes that will make me grow as a leader, and shape the impact I want to have in society. The opportunity of an MBA in Harvard Business School will feed my intellectual curiosity, give me the opportunity to learn from talented people, and provide me with resources in order to accomplish my goals. An MBA at HBS is an opportunity to feed my intellect because as a student I will be devoting most of my time thinking critically about real life cases, analyzing complex situations, and collaborating in teams to develop innovative solutions. The environment in an MBA classroom at Harvard involves putting my mind and skills under severe training, and benefiting from the steep learning curve that it has. The experience will provide me with a broad skillset that is extremely valuable for my professional life, deepening my leadership, teamwork, intellectual, and communication abilities. The collaborative environment of the MBA program is an opportunity for me to learn from talented people with a motivation to shape the world and incredible intellectual capacity. The diversity of people in the program is critical for my understanding the modern complexity of global businesses. In addition, the learning groups in the program will help me to strengthen my arguments and consider contrasting points of view when analyzing a situation. Given the increasing importance of social responsibility as a driver of value for a corporation, there is an opportunity to enhance the impact a business can have on its stakeholders. One of my professional goals is to start or provide the necessary management knowledge and capital for socially responsible businesses to achieve a sustainable development while increasing the standards of living of their stakeholders. I believe that the experience as an MBA at HBS will provide me with resources necessary to achieve this goal by deepening my understanding of value creation and increasing my thoughtfulness about management decisions. Obtaining an MBA would be a tremendous advantage for my future. It will open my mindset and contribute to shape my leadership in order to prepare me for the decisions I will have to make through my career. If I have the opportunity to do my MBA at Harvard Business School, my footprint will be deeper in every step that I take in life.

10 Juan Jose Castro Mobile: (814) School Address: 246 Highland Ave Apt 303, State College, PA EDUCATION The Schreyer Honors College, The Pennsylvania State University University Park, PA Bachelor of Science in Finance Class of 2012 Bachelor of Science in Economics GPA: 4.0/4.0 Awards: Bunton Waller Scholarship, Robert Tripp Scholarship, President s Freshman Award, President s Sparks Award, Evan Pugh Junior Award, J.P. Morgan Launching Leaders Scholarship LEADERSHIP Innoblue State College, PA Consulting Group President Fall Present Supervise the consulting practice for a project incubator focused on assisting startup ventures mainly in State College Develop relationships with five ventures by consulting them, tracking their progress and facilitating resources Design an educational curriculum focused on educating students about the consulting industry including case studies, interview preparation, strategic thinking and corporate strategy Schreyer Honors Consulting Group State College, PA Project Leader Spring Present Serve as the case study project leader for an organization of more than 25 people focused on proving resources and preparing students that want to follow a career in management consulting Conduct biweekly case studies with a group of 10 students that involve topics like profit optimization, business expansion, and mergers and acquisitions to prepare students for consulting interviews Dannon TRUST Challenge White Plains, NY National Finalist Spring 2010 Selected among students from around fifteen universities to compete as part of a team in the national finals for a business case competition, presented to executives at Dannon s headquarters Presented the case to executives, which included SWOT analysis, pro-forma statements, and a profit and loss analysis INTERNSHIPS J.P. Morgan Chase & Co. New York, New York Investment Banking Summer Intern Natural Resources Group Summer 2011 Developed strategic analysis books including merger proposals, financing and funding models, and optimal capital structure for clients in the power, chemicals, and metals and mining industries Assisted in the due diligence process and performed valuation analysis for a buy-side acquisition of a chemicals company, including a discounted cash flow model, trading comparables and an operating model Tutobienes S.A. Guayaquil, Ecuador Analyst Summer 2010 Performed financial analysis and valuation for the viability of investing in a Holiday Inn franchise Discussed valuation, projections, and industry and economic analysis with external executives to determine the risk profile of the project RELEVANT EXPERIENCE Nittany Lion Fund, LLC University Park, PA Associate Analyst of Consumer Staples Sector Spring Present Manage a portfolio of $430,000 in the Consumer Staples sector of the Nittany Lion Fund, which has 68 investors Present buy/sell pitches for companies in the sector to executive board and other managers for approval Conduct quantitative and qualitative analysis of equity securities including discounted cash flow model, market comparables, financial ratios, and research from Bloomberg, SEC filings and research reports Hogar de Cristo Guayaquil, Ecuador Volunteer Summer 2010 Assisted in the construction and painting of four bamboo houses in sectors of extreme poverty in Guayaquil Organized lunches with the families who would become owners of the houses in order to learn about their lives SKILLS/ACTIVITIES Fluent in Spanish and English, 3 rd level Italian diploma, Penn State Investment Association Consumer Discretionary Sector, Smeal Trading Room Analyst, Penn State Economics Department Teaching assistant