Transcript from the November 6, 2007 UNC’s Kenan-Flagler Business School Corporate Finance (Investment Banking) Chat OLU J.: Welcome everyone. I’m Olu Jegede, a second year student concentrating in Corporate Finance/Investment Banking. I spent the last summer with Wachovia Securities and I am also a member of Admissions Advisory Board. We have with us my classmates who interned in various Corporate Finance/Investment Banking positions over the summer. Smitha Balasubramanian (Bear Stearns), Swetha Balasubramanian (Banc of America Securities ), Eric Hansen (Suntrust Robinson Humphrey) , Jinea Turk (American Express) and Stephen Blume (American Express). Our first year colleagues here are Vikas Bharathwaaj and Bharath Murali. From the admissions office, we have Julie Wiley. Please feel free to ask any questions in general or direct it to one of our participants in particular. OLU J.: Hi Everyone. I'm Olu Jegede and with colleagues from First and second year. I'll let everyone introduce themselves Shyamsundar S.: Hi everyone Rajeev R.: Hello everyone Vikas B.: Hello everyone. My name is Vikas, I am a first year student and would be majoring in Corporate Finance. chandraSekhar: Hi! Vikas Vikas B.: Hi Chandrasekhar Pepe: Anyone, I think that the natural question is, if you don´t have a corporate finance background, how do you open your way towards getting hired within a corporate finance environment Pepe: I work in trading, but want to move towards investment banking Jinea T.: Hi Pepe. My name is Jinea Turk and I am a second year majoring in Finance. Prior to business school I worked in Supply Chain/Operations. The key is to demonstrate your transferable skills and to do well in your intro. Finance courses in Modules I & II. Bharath M.: Hi everyone, I'm Bharath Murali, a first year student concentrating in Corporate Finance SWETHA_KFBS2008: Hi all, I'm Swetha Balasubramanian, I am a second year MBA Student. I interned at Banc of America Securities over the summer and will be joining them full time next year. Stephen B.: Hello all. My name is Steve and I am a second year at KFBS. Currently I am concentrating in corporate finance and this past summer I interned with American Express in NYC. Eric H.: Hello, my name is Eric Hansen and I'm a second year student. I did investment banking at SunTrust Robinson Humphrey this summer.
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Transcript from the November 6, 2007 UNC’s Kenan-Flagler Business School Corporate Finance
(Investment Banking) Chat
OLU J.: Welcome everyone. I’m Olu Jegede, a second year student concentrating in Corporate
Finance/Investment Banking. I spent the last summer with Wachovia Securities and I am also a
member of Admissions Advisory Board. We have with us my classmates who interned in various
Corporate Finance/Investment Banking positions over the summer. Smitha Balasubramanian (Bear
Stearns), Swetha Balasubramanian (Banc of America Securities ), Eric Hansen (Suntrust Robinson
Humphrey) , Jinea Turk (American Express) and Stephen Blume (American Express). Our first year
colleagues here are Vikas Bharathwaaj and Bharath Murali. From the admissions office, we have Julie
Wiley. Please feel free to ask any questions in general or direct it to one of our participants in
particular.
OLU J.: Hi Everyone. I'm Olu Jegede and with colleagues from First and second year. I'll let everyone
introduce themselves
Shyamsundar S.: Hi everyone
Rajeev R.: Hello everyone
Vikas B.: Hello everyone. My name is Vikas, I am a first year student and would be majoring in
Corporate Finance.
chandraSekhar: Hi! Vikas
Vikas B.: Hi Chandrasekhar
Pepe: Anyone, I think that the natural question is, if you don´t have a corporate finance background,
how do you open your way towards getting hired within a corporate finance environment
Pepe: I work in trading, but want to move towards investment banking
Jinea T.: Hi Pepe. My name is Jinea Turk and I am a second year majoring in Finance. Prior to business
school I worked in Supply Chain/Operations. The key is to demonstrate your transferable skills and to
do well in your intro. Finance courses in Modules I & II.
Bharath M.: Hi everyone, I'm Bharath Murali, a first year student concentrating in Corporate Finance
SWETHA_KFBS2008: Hi all, I'm Swetha Balasubramanian, I am a second year MBA Student. I interned
at Banc of America Securities over the summer and will be joining them full time next year.
Stephen B.: Hello all. My name is Steve and I am a second year at KFBS. Currently I am concentrating
in corporate finance and this past summer I interned with American Express in NYC.
Eric H.: Hello, my name is Eric Hansen and I'm a second year student. I did investment banking at
SunTrust Robinson Humphrey this summer.
Julie W.: Good afternoon everyone, thank you for joining us today! I work in Admissions and am
willing to take any general admissions questions you may have, but ask that you try to keep your
questions more on the Corporate Finance topic.
OLU J.: Akinyemi - How are you doing? Please fire away your questions
Akinyemi A.: Olu J, Thank you.
KangHee_kfbs2008: Hi everyone. I am a second year MBA student. I worked at citicorp Hong Kong in
investment banking over the summer. feel free to ask questions.
Pepe: also, Business Week ranks the Chapel Hill as not very friendly for international students looking
to be hired, Swetha, how do you feel about this
SWETHA_KFBS2008: Pepe, I think Chapel Hill is a great place for international students and we had
almost 100% placements for internationals over the summer. Also, the Career Management Centre
has held various sessions to aid internationals in their job search.
Rajeev R.: I have 7+ Yrs IT experience in American Express. Can I move to Investment Banking or
Corporate Finance? I have enough of IT
OLU J.: Rajeev R - Yes you can make the career switch. Any specific concerns?
Julie W.: Rajeev, we do have many career switchers apply.
Rajeev R.: Thanks for response OLU. My another question is, I have GMAT 640 score and 7 yrs of IT
Exprience in American Express all over the world (Sydney, India, UK & USA). I haven't yet applied
considering my score is too low. Please advise next steps. Also, I am currently at my work place so I
might be slow in responding. Sorry for that and all spelling mistakes : ))
OLU J.: Rajeev: Go for the very best GMAT score you are sure you can score and them back it up with
a compelling essay
Julie W.: Rajeev, you can always retake your GMAT. We only look at the higher score. You can also
take advantage of any professional and community leadership opportunities to make you an
attractive candidate.
Jenna: Is Financial Planning and Analysis considered a part of Corporate Finance field?
Stephen B.: Jenna, corporate finance at KFBS really encompasses two tracks 1) investment banking or
2) industry finance. Financial planning & analysis really belongs to industry finance and I can attest
that there are several classes here that will prepare you for that career path.
Jenna: Thanks, Stephen B.!
Chethan: Hi all. I am an Engineer but am interested in an MBA in finance. Why? I like doing business
with money.Pl let me know is it possible for me to make that switch now?
Vikas B.: Chethan, if I read your question correctly, you are interested in entrepreneurship. I
encourage you to attend an entrepreneurship chat sessions. Every year we have many students
starting their own business. We also have the Carolina Venture Fellows and Entrepreneurship Fellow
Programs.
Chethan: Thanks Vikas
Lightning: I have a basic question - Can you differentiate between a finance MBA and a CPA?
OLU J.: Lightning - An MBA focuses on more than Finance and Accounting. You are well rounded and
have more options than a CPA will offer
Lightning: OLU J, thanks.
OLU J.: Lightning - Anytime
Ryan M.: Is it running a budget at a company?
Jinea T.: Hi Ryan. Are you asking if corporate finance is about running a budget?
Ryan M.: Jinea, more or less...or maybe more general...what makes corporate finance exciting to you?
Jinea T.: Ryan, corporate finance can lead into a variety of careers. At the MBA level it is highly
unlikely that you will simply be managing a budget. At the MBA level, you're more involved in the
decision making. Corporate Finance is exciting to me because of the range of opportunities available,
from industry finance to investment banking to commercial banking there are just a wealth of
opportunities available.
Ryan M.: Thanks Jinea. can I ask what you are currently hoping to do after schooling? Are you targeting
a company or job type?
Pepe: HOw many graduates from UNC end up working say in London, Hong Kong, or another
international financial center outside the US?
Pepe: do international firms scout at UNC, or only domestic firms?
KangHee_kfbs2008: Pepe I can answer that questions.
KangHee_kfbs2008: Some international firms scout at UNC.
KangHee_kfbs2008 : But not as many as domestic firms.
KangHee_kfbs2008: But once you come to school, you can find more resources from classmates.
Shyamsundar S.: Hi, what is the process in KFBS for selecting a core concentration? Is there a limit on
people choosing a particular elective?
SWETHA_KFBS2008: Shyamsundar, people gravitate towards a concentration based on the classes
they take (which depends on your career interests). There is no limit on the number of people.
Shyamsundar S.: Thanks Swetha
Jenna: Question for current students: Is Financial Planning and Analysis considered a part of Corporate
Finance field?
Jay M.: Relative to schools located in the Northeast/New England, how well received are KFBS
applicants by Wal Street firms?
Eric H.: Jay - most of the Wall Street firms are on campus to recruit so KFBS definitely has a good
reputation. Most NE schools have more students so their raw numbers may be higher but the
percentages are probably similar. We have a lot of connection to NYC.
Jay M.: Thank you, Eric.
Sharadha S.: Hi Julie.. how important is it to have a background in finance to be admitted into a course
at Kenan Flagler?
Julie W.: Sharadha, I am not sure what you mean exactly. Can you clarify?
Pepe: What are the best things you have learned in the Corporate Finance concentration
KangHee_kfbs2008 : Pepe, with corporate finance concentration, you learn all the tools that you
need to go into corporate finance career.
Pepe: something that has given you guys an edge from who you were before going MBA and with
respect to say....Duke MBA students
KangHee_kfbs2008: You really don't need to compare to other school. Because the company will
evaluate your ability to do the job.
KangHee_kfbs2008: We have all the important courses that you need to go into corporate finance
career.
Vikas B.: Hey Pepe. Don't go to Duke, not worth it! On a serious note, the Corp Fin Core courses at
KFBS are very intense and prepare you really well on concepts up front. I did not have a Fin
background. I am glad I could learn a lot after joining KFBS.
KangHee_kfbs2008: Pepe, if you are interested in corporate finance career, UNC is the right school.
Over the summer, I used everything that I learned at school and got good evaluation from bank.
Pepe: Im not! haah, I want to go to UNC, if they´ll bring me on board
Pepe: im just asking
Pepe: because i want to be sure that my perspective on UNC is accurate
Vikas B.: Good Luck with you admissions Pepe
Pepe: I actually wanted to go to B-school starting this fall, but since i was not admitted here, I waited
for a year
Kalsid: what are the job profiles one can look at after majoring in corporate finance?
OLU J.: kalsid - Investment Banking, Investment Management, Industry Finance, Business
Development
Jen: How soon do you have to declare your concentration?
J.J. : Hi, Jen, You don't have to declare your concentration until 2nd year. Ultimately, you don't have
to choose concentration.
Eric H.: Jen - you declare a concentration (or 2) right away, but can change it at any point. A lot of
people don't have a concentration but rather just take classes that interest them and are relevant to
their job searches.
Taozhang: Is anyone go to a commerical bank post-MBA. If any, what kind of role they take?
Eric H.: Taozhang - No one on the chat but people go to Citi and Bank of America for more
commercial-banking positions. Some types of client managers, others for specifics like Business
Banking, etc.
Taozhang: Eric, thanks. Do you know for Citi or Bank of America, do they provide some leadership
program for MBA candidates. is it competitive as well?
Eric H.: Taozhang - yes, almost all companies offer a leadership program that is geared for recent
MBAs. They will provide you with everything you need for your job.
Pepe: Did anyone applied to intern at a Private Equity firm, how did that go?
Timothy S.: Hey folks- I have a more generalized question with regard to the overall MBA program. Is
the schedule so demanding, to the point that you would find it impossible to have a 'second job' while
attending the full-time program?
SWETHA_KFBS2008: Timothy, in first year I would highly suggest concentrating more on academics
and the job search. In second year however, your schedule is more flexible allowing you to take on
other jobs. The school offers several part time jobs (TAs, graders, Library jobs etc.)
Lightning: At what point during your MBA do you need to pick a concentration? Is at before I start or
during the MBA?
Piyush S.: Hi Swetha, how much of industry participation is there in the concentration apart from the
course work.
SWETHA_KFBS2008: Piyush, the concentration is entirely based on the classes you take. However
several classes have guest speakers from the 'real world' and definitely add to your experience.
Lightning: Does the GMAT score affect which concentration you get selected for or does it not matter?
Julie W.: The GMAT score does not matter for concentrations, however certain recruiters,
particularly investment banks, do look at your GMAT score.
Steve: what's the GMAT hurdle to clear with the ibanking recruiters?
Stephen B.: Steve, unfortunately if the bankers don't see your gmat on your resume they will most
likely ask about it. Typically if you get a 700 or above you will put it on your resume. That said, I
definitely know bankers who did not break 700, but still got an internship in banking.
Pepe: Stephen B, what if you end the first year with straight A´s but got a lower GMAT score, are you
trying to say a lower GMAT score becomes a stigma on your resume?
Taozhang: Hi, Julie, so how about the other recruiters, say coporate finance
Chethan: Hey Vikas - you said "I did not have a Fin background". Were you also an Engineer when you
joined?
Vikas B.: Chethan, I am a Mechanical engineer. I was into Business Development with a
Manufacturing firm before I joined B school
thunder3k: how do u rate a person working in IT for 3 years and planning to shift to IB?
Julie W.: thunder3k: it is hard to say without looking at your overall application. We look at not only
your work experience but academic record, essays, interview, recommendations, community
leadership.
thunder3k: do both verbal and quants matter equally in KFBS and during recruitment?
Julie W.: Thunder3K, yes we look at both parts of the GMAT and recruiters do as well.
Pepe: Did anyone get into a Private Equity internship?
Eric H.: Pepe - yes, people did get into Private Equity this summer. The field is very difficult to get
into but several people went to smaller PE firms, especially in the South.
Jay M.: For those second years who interned in corp fin last summer, how was the internship
experience? Did you feel as if you were given significant opportunities to contribute value-added work?
KangHee_kfbs2008: Jay M I can answer your question
KangHee_kfbs2008: I did what real associate does in everyday task.
OLU J.: Jay M - I was in I-Banking and the experience is priceless. Lots of live deals with high impact
KangHee_kfbs2008: I contribute a lot. I think if you go to investment banking summer, you
contribute and learn a great deal.
Jay M.: Olu and Kanghee, thank you both. How if at all has the impact of the credit market turmoil
experienced in late summer/early fall impacted your perception of corp fin?
OLU J.: Jay M - The turmoil has shut down some opportunities and created others. Corp Fin skills are
skill needed to get out of the credit crunch
Jay M.: I would agree, Olu, though financing is obviously more difficult to secure in many cases.
OLU J.: Jay M. - While that may be true, financial institutions are changing their focus. My point is
that there will always be something interesting for you to do
Jay M.: Thanks again, Olu.
Sharadha S.: I am currently a commerce graduate and i wish to pursue an MBA in finance.
Lightning: Can any of you that interned at a finance corp please briefly state what the internship duties
were? Thanks.
Pepe: Julie, i think UNC offers a merit based scholarship for the 2nd year, what is the expected GPA to
get that aid?
Julie W.: Pepe, we offer fellowships to appox. 25% of our students. The fellowship award is merit
based and we look at an overall strong application, not just GMAT score.
Akinyemi A.: Olu J. Does the school help you pick concentrations based perceived strength or they
leave it to the student?
Sharadha S.: Finance interests me though i have no definite eduaction on the subject.
Bharath M.: Sharadha, you don't need any background in Finance to concentrate in Finance or to
make a career shift. Many students in KFBS are career changers.
Sharadha S.: thanks Bharat.
Joan: Hi Jinea. As far as industry finance, is there any recruiting for finance rotational programs at UNC?
Jinea T.: Hi Joan, yes there are companies that recruit for rotation programs here at Kenan-Flagler for
full-time positions. There are rarely opportunities for rotation at the internship level due to the short
time frame.
thunder3k : does taking part in lots of extra curriculars(read: organising events in office and colleges )
compensate for lack of community service?
Mike N.: How much of a factor is community leadership, I don't think I have anything that fits in that
category except for side projects at work
Pepe: Have you heard of any UNC MBA graduates that went on to start a financial firm of some sort?
Eric H.: Pepe - starting a financial firm would be more than a few years out of school, when some
people might get into Venture Capital or the like.
Pepe : Thanks Eric H
Matt M.: What classes / professors within the corporate finance concentration have you enjoyed the
most?
SWETHA_KFBS2008: Matt M. the core program at UNC offers finance classes in Mod 1 and Mod 2
both of which are excellent classes. The Finance and Accounting profs at UNC are truly amazing and
the faculty is outstanding.
Matt M.: Thanks Swetha, I had the chance to speak with Matthias who teaches one of the courses in
Mod 1 and really enjoyed the convesation, I have heard good things about his class
SWETHA_KFBS2008: Matt, that's great. Other profs I would recommend reaching out to in Finance
are Jennifer Conrad and Adam Reed.
Matt M.: Swetha, great, thank you! Also, in your internship at Banc of America Securities, how did you
feel in comparison with colleuges from other MBA programs as far as your preparation for the work you
were doing?
SWETHA_KFBS2008: Matt, I felt adequately prepared thanks to the profs and classes at UNC.We do
several seminars such as 'Training the Street' which is conducted by Scott Rosten who trains
Analysts/Associates in several Wall Street firms way ahead of our internships which holds us in good
stead. We also have investment banking classes which prepares you.
Matt M.: Thanks Swetha
Steve: where do most MBA graduates end up? is UNC primarily a southern school?
Julie W.: Steve, we have graduates end up all over the world, although many of our graduates will
work in Boston, New York, Charlotte, Atlanta, Washington DC, and some west coast.
Chethan: Vikas, How is MBA finance adding to your Mech background?
Vikas B.: Chethan, definitely a great learning experience. It is not just the classroom learning that
contributes but you get to learn a lot more outside, from your batchmates, seniors, alums, faculty.
Julie W.: Please be patient as we try to answer all questions. If your question was not answered,
please ask again.
Akinyemi A.: Kanghee. How much of real life scenarios are dealt with during study at KFBS
Akinyemi A.: and what level
KangHee_kfbs2008: It depends how much you want to be involved.
Akinyemi A.: please be clearer
Akinyemi A.: how do you mean?
OLU J.: Akiyemi - There are opportunities for Practicums where you get to work with real companies
on real problems
Akinyemi A.: Thanks Olu. J
KangHee_kfbs2008: If you really want a real life scenarios, you can actually do it.
Akinyemi A.: OK.
KangHee_kfbs2008: Akinyemi, what do you want to know exactly?
Akinyemi A.: Do you get to work on cases as it bothers on the needs of particular companies
OLU J. Yemi - Anytime
thunder3k: everything else remaining same, does GMAT score of 740(Q50,V44) and 710(Q50,V35)
makes huge difference when admission and recruitment is concerned?
Julie W.: ThunderK, it is really a case by case basis and we would have to review every part of your
application.
thunder3k: Julie, i said if the same person submit the application, does more score in verbal matter
more?
Julie W.: Thunder3K, please restate your question, I am not sure I understand you.
thunder3k: Julie, say if i submit my application twice, does more score in GMAT verbal matter more or
it is not a concern?
thunder3k: if my overall score is above 700 anyways
Julie W.: Thunder3K, please email me directly via [email protected].
Pepe: Eric H, how´s the entrepreneurial spirit in the Tri Area, do you get the feeling that there´s
opportunity for growth?
Eric H.: Pepe - entrepreneurial spirit is very high. The Research Triangle area is definitely growing and
feature a lot of smaller fin'l firms such as Private Equity and Venture Capital. A good amount of people
stay in the area.
Pepe: Stephen B, what if you end the first year with straight A´s but got a lower GMAT score, are you
trying to say a lower GMAT score becomes a stigma on your resume
Stephen B.: Pepe, solid grades are a must if you did not break 700 on the gmats. Bankers want to see
a track record of solid academic performance.
Pepe: Stephen but it seems as if you break the 700 barrier on the GMAT you´re over and beyond
anything your grades might say....that´s a bit discouraging because i didnt get a 700 hehe
Eric H.: Pepe - over 700 is great but then you need to compete against the other outstanding
students here. IF you can't differentiate yourself in the classroom, then that could be a problem.
Mike N.: General question: If I am interested in becoming and equity analyst - would you recommed
the Corporate Finance or Investment Management concentration at UNC?
OLU J.: Mike N. I will recommend Investment Management
chandraSekhar: Question to the Admission committee..I am planning to apply in the cycle 1. Do you go
through the applications as and when they reach you or you go through all after the last date of
submission. The reason I ask this is I am banking on fellowships oppurtunities. SInce I have already
missed the early action deadline I don't want to miss the next one.
Julie W.: Chandra, we do not review applications on a rolling basis. All decisions are released on the
same date.
chandraSekhar: Thanks Julie
Sharadha S.: is the scholarship program open to international students as well?
Julie W.: Sharadha, yes the fellowships are open to international students. There is not a separate
application for the fellowship. You just need to apply by our third deadline in early January.
Sharadha S.: Thank you Julie.
Chethan: Do you get to work on hands on M & A projects during MBA?
SWETHA_KFBS2008: Chethan, although we don't work on 'live' M&A cases, we do several case
studies which involve understanding M&A scenarios.
Piyush S.: Bharath,what is the perception of certifications like CFA/FRM,is it considered a big plus on
resume
KangHee_kfbs2008: Piyush, It can be plus if you want to do corporate finance career.
KangHee_kfbs2008: I went to career fairs and a lot of recruiters said that's a trend these days.
Piyush S.: thanks KangHee, do KFBS students generally take up CFA exams or is it more of a personal
choice
KangHee_kfbs2008: It is more personal choice..but the school supports it.
KangHee_kfbs2008: But CFA definitely is a plus. UNC really encourages us to take up CFA exams.
Bharath M.L : Piyush, indeed a lot of students do take the CFA by the end of their first years. UNC
has a very high pass percentage for the exam.
Piyush S.: good to hear the info on CFA :)
KangHee_kfbs2008: piyush, I am glad it's hepful.
Akinyemi A.: General Question: How friendly are students loans toward international students
Vikas B.: Akinyemi A., the current student loan program by CFI available to all admitted international
students covers the complete tuition and college fees (over and above any scholarships)
Akinyemi A.: Thanks Vikas
Vikas B.: Good luck Akinyemi
Jen: Has anyone combined a real estate and a finance concentration?
Eric H.: Jen - no one in this room here but I think a few are concentrating in both. I think both require
a lot of classes though so maybe just take classes that are interesting in both areas.
Jen: thanks eric
Steve: is there a sizeable korean population on campus?
OLU J.: Steve - There is a very nice korean population
KangHee_kfbs2008: steve..yes we have about 10 korean in each class.
Taozhang: OLU, I have interest in the risk management and financial innovation in commercial banking.
Is the corporate finance concentration suitable?
OLU J.: taozhang - Yes. Citi recruits for that position here
Taozhang: Olu, great! any more information for your said position?
OLU J.: taozhang - Corporate Finance will equip you with all the skills you need to get the position
and succeed at it
Taozhang: Thanks OLU
SMITHA_KFBS2008: Hey! This is Smitha here, a current second year student and I am happy to
answer any questions you might have
Chethan: Thanks Smitha
Nguyen H.: Hi, I have known that applicants from similar countries are evaluated in a group. I'm from
Vietnam, which group of country do I belong to? Last year, how was this group compared to the average
applicants in term of GPA, GMAT score ?
Pepe: Anyone, what about the general attitude towards international students in the overall
population, is it a friendly one?
SMITHA_KFBS2008 : Pepe: People are warm towards international students. Everyone encourages
you to participate and feel comfortable in the culture here
Kalsid: For career switchers ,say from IT to finance,is the pre-mba IT experience taken into
consideration by the recruiters?or one needs to start from the bottom of the ladder?
SMITHA_KFBS2008: kalsid: I am a career switcher myself and was into IT consulting before MBA. The
pre MBA experience plays a huge role in recruting. It is important to highlight the transferable skills
Kalsid: Thanks Smitha. But I was more concerned about the designation that a carrer switcher with 3-4
yrs exp lands up with, after his/her MBA.
SMITHA_KFBS2008 : kalsid: I had less than 2 years experience before MBA and do not hold any
masters degree. I interned with an investment bank for my summer and had the same role as anyone
else who might have had more experience/degrees. So as far as Corporate finance jobs go it honestly
does not matter. Industry finance might be different though, but not that much.
Kalsid: Thanks Smitha. That helps.
thunder3k: does an IT person eye on IB like goldman sacs or Morgan stanley while at KFBS?
Jenna: question for current students who chose UNC over Duke: why did you decide to come to UNC?
Julie W.: Jenna, I just spoke with a current first year woman who came to Kenan-Flagler over Duke
because she found the atmosphere here to be more collegial.
Eric H.: Jenna - the two schools are very different. If you can visit the two, that would probably
answer your question. Duke has a larger class size than UNC and I thought that I felt more comfortable
at UNC. UNC is a much larger campus too. I think everyone just got very good vibes at UNC
thunder3k: CFA while in KFBS?
OLU J.: thunder3k - It should not be a problem
Sharadha S.: What is the minimum required work experience considered by the school.
OLU J.: Sharadha - Minimum of 2 years recommended
Sharadha S.: Thanks OLU..
Michael C.: I am interested in the product/brand management concentration, but I'm also interested in
supplementing my overall academic experience with a little more finance than what is offered in the
core mods. If I select a different concentration, does that still leave time in my schedule to take a few
electives outside of my concentration?
Phillip K.: Michael C. - yes, you will have an opportunity to take many finance courses
Michael C.: Thanks, Philip
Jinea T. : Michael, yes you still have time to take course outside of your concentration.
sadashiv k.: doesn't CFA require prior finance experience of 3 years?
Jay M.: To be awarded the CFA charter, one must have accumulated 48 months of related work
experience. The CFA Institute does not negotiate on this point as I unfortunately discovered after
passing Level II this summer.
Steve: general question- how do wall street recruiters treat military experience?
Pepe: Did most of the summer interns got paid while interning?
SWETHA_KFBS2008: Pepe, yes most, if not all summer interns were paid during internship.
Phillip K.: Pepe - most (99%) interns are paid
thunder3k: does indian CFA makes sense at international market?
Chethan: Is good Quants necessary for the Finance MBA?
SMITHA_KFBS2008: chethan: It definitely helps you
chandraSekhar For a person interested in Equity research kind of activity . Is corporate
finance/Investment Banking the right concentration?
SMITHA_KFBS2008: chandrasekhar: Investment Management is probably better
chandraSekhar: Thanks Smitha
Pepe: What´s the average class size at KF?
Eric H.: Pepe - we have 280 students in each class
Pepe: not the overall, but I mean on any given individual class
Pepe: I meant the number of students in a classroom for 1 topic...sorry i was misleading
Eric H.: Pepe - most classes are 55-70 people.
Pepe: i see....is that below average for an MBA?
Pepe: and how much time can you expect to get out of the classroom from a professor
Eric H.: Pepe - professors are all open door. They will make time for you no matter what. You are
their main priority.
Pepe: thx Eric
Julie W.: We are ready to answer more questions from you all.
thunder3k: why should one pick up KFBS over a finance school like NYU Stern?
Jinea T.: thunder3k, they are both good schools. The difference is likely the cultures. You should
choose the environment where you feel more comfortable. The class size here is also smaller.
Vikas B.: thunder3k, KFBS to me came across as the only school that has a strong finance
faculty/courses, great ties with the Wall Street and still maintains a very collaborative, team-based
learning model. Could not find any other school with this combination.
Steve: general question- how do wall street recruiters treat military experience?
KangHee_kfbs2008: Steve..it's not a negative.
KangHee_kfbs2008: Steve, we have a alumni who had a military background and work in investment
banking.
KangHee_kfbs2008: Steve. I saw one in Wachovia and one in citi. I am sure that there's more.
Julie W.: Steve, hold on, someone is answering your question.....
Stephen B.: Steve, I have several friends with military experience and they all did very well with
recruiting in a variety of different industries. The number one characteristic recruiters look for is
leadership experience and I think the military provides excellent training in that regard. There is also a
military veterans club at KFBS that helps you with resume writing and interviewing.
Ryan: I have an engineering background with no undergrad business classes, will I need to take any
classes prior to enrollment?
Julie W.: Ryan, it is not required but you can take calculus, statistics, accounting and microeconomics
to prepare yourself. We also offer a summer session called the Analytical Skills Workshop as well.
Piyush S.: another one on internship, Do you guys think courses available in the first year are sufficient
to prepare one for an IB internship, or was it tough ?
Ashvin K.: piyush, the classes you take in your first year are more than enough to prepare you for an
ib internship, kfbs grads are more than prepared for ib internships
Taozhang: How about the professor in finance of KFBS? I mean their knowledge authority....
OLU J.: taozhang - Professors are very accomplished. Many take a semester off to work on research
which is very crusial in the academic world
Taozhang: Thank you again, OLU. So can student help professor in the research? I know KFBS does not
offer GA work
OLU J.: taozhang - There is no Graduate Assistantship for MBAs. There's simply no time for it
Taozhang: Olu, so even though I want to volunteer, i believe this helps me in learning
OLU J. taozhang - Trust me. You will not have the time :-)
taozhang : Aha, OLU, thanks
OLU J.: taozhang - But you can be part of the tutoring program for first year students once you get
into the second year
Taozhang: Thanks
Sharadha S.: do tutoring programs fetch any financial gain to the students..?
Ashvin K.: sharadha tuturing programs typically pay $10 - $20 per hour depending on the number of
students you teach
Sharadha S.: thanks Ashvin.
thunder3k: do you comfortably get all the elective you want to attend or there is some lottery?
SMITHA_KFBS2008: thunder3k: Yes, I think most people get all the electives they need. There is a
bidding process associated with it, but it is fairly simple. I have also heard of cases where the class size
has been increased just because of demand
Akinyemi A.: Admissions: Apart from good GMAT scores and great essays, how much do your resume
contribute in your admission decision.
Julie W.: Akinyemi, your work experience is a very important part of your overall application. We like
to see management and leadership experience, progression within your job, etc.
Akinyemi A.: Thank you Julie
Michael C.: Bye everyone, good luck with your applications
Marcus: Julie, is the summer internship application process similar to a job interview? Also, how does
the school support the students in finding summer internships. It seems that choosing your summer
internship is a big decision and can greatly impact your future career. thanks, Marcus
Ashvin K.: summer internships applications are more or less similar to full time job interviews, the
only differnece is full time are slightly more intensive if you have not interned in that particular role.
kfbs is very helpful in finding summer internsjhips for all its grads
Pepe: Are professors a good aid to networking with outsiders? That is, are they helpful into providing
leads for future jobs?
OLU J.: Pepe - It depends. Keep in mind that they've taught many of the current recruiters and some
of them are still in touch with them
Pepe: thx OLU
Ofeliu: If the KFBS environment good for student with families?
KangHee_kfbs2008: Ofeliu: Yes. We also have a family club.
Jinea T.: ofeliu, there is a very strong partners network here at KFBS. There are many who are in the
program who have families. Their families become a part of the KFBS family as well.
Ofeliu: Thanks Jinea
Julie W.: Ofeliu, Chapel Hill is very condusive for family living.
sadashiv k.: is it possible to get into investment management with IT as a pre-MBA field?
Eric H.: Sadashiv - anything is possible. Most people here are career switchers so you shouldn't be at
a disadvantage. If you work hard, you'll get it.
sadashiv k.: thanks Eric.
thunder3k: does quantity of work exp matter more for admission or the quality?
Julie W.: Thunder3k: both are important. At lease 2 years of work experience; average this year is
5.6. Also, as previously stated, we like to see management and leadership experience within your job
duties, as well as a progression of responsibilities.
thunder3k: do u look at the qunatity of WE while applying or while entering school?
Julie W.: Thunder3K, we look at the total work experience at the time you would enroll, not the time
you apply.
chandraSekhar: I guess investment banking is one the most preferred area of concentration. Are the
no. of seats for a particular concentration limited. If yes what is the way to resolve the conflict between
the students?
SWETHA_KFBS2008: Chandrasekhar, the area of concentration is typically Corporate Finance (and
Investment Banking would fall under this umbrella). There is no limit for the number of seats.
chandraSekhar: Thanks swetha!
thunder3k: do u know anyone shifting back to india after graduation?
Ashvin K.: thunder3k as far as i know nobody has gone back, everyone seems to have taken up a job
here.
Marcus : Thanks Ashvin. With regards to the summer internships, does the school have a list of
preferred companies or past companies that students have worked with? Also, do companies recruit
heavily for summer internships?
Ashvin K.: marcus, the school does have a list of companies that recruit heavily like bank of america
and wachovia for ib (for e.g, we are what is called a "core school" for these companies. in addition we
also have other companies that have alums from unc placed there that also recruit here, kfbs is very
proactive in getting companies to recruit here, almost everyone in my batch got a summer internship
Marcus: Great. Thanks Ashvin.
Chethan: To al Indina KFBS students - What % of KFBS graduates oome back to India and work? And
after how many years?
Chethan: % of Entrepreneurs
SMITHA_KFBS2008: chethan: As far as I know most people stay back here in the US. I am not really
aware of people who have gone back personally. I guess its a personal choice honestly.
Pepe: Can anyone mention what´s the typical job a CF graduate obtains at graduation...not the
institution they might end up at, but the most common job you get....
thunder3k: to present students: does applying in early decision round more advisible if u are from
more aompetitive pool?
Julie W.: Thunder3K, we advise you to apply in an earlier round if possible. The class fills up by the
4th deadline and that last deadline becomes more competitive because there are less spots to offer in
the class.
thunder3k: is STAR program helpful in finance?
SWETHA_KFBS2008: thunder3K, I believe the STAR program is more suited for Consulting than
Finance. However, I'm sure it will test your finance skills to some extent.
thunder3k: and what about 4 step leadership....is it just a buzzword or a reality...can u share ur expof
this 4 step process
Eric H.: Thunder3k - no idea what 4 step leadership is. No one here has heard of it. Can you
elaborate?
thunder3k KFBS said that it follows 4 step leadership program : Principles, Practice, Feedback and
Reflection..
thunder3k : This 4 step process seems more of a marketing buzz then a reality...
Eric H.: Thunder3k - I think this was implemented recently so the second years haven't had much
experience with it. 1st years may be able to tell you more about it.
Bharath M.: Thunder3k: Leadership development in KFBS is pretty intense. We have two credits
towards this in our first year. We just use the 4 step leadership as a model that can be used to test,
improve and apply our leadership skills in a safe environment like that of KFBS.
Taozhang: Can someone talk about the case competition regarding finance
Taozhang: I know there is the Wachovia Regional Case Competition
OLU J.: taozhang - A very popular one here is the annual Wachovia Case competition. You get to do a
real Valuation exercise and present to Investment Bankers from Wachovia. Very Cool
Taozhang: OLU, I knew KFBS won the first place in 2006. Cool! I think that maybe help the future job
landing for those prize winner
OLU J.: taozhang - Yes. It certainly offers you the required visibility and strongly enhanced your
network
Pepe: Can anyone mention what´s the typical job a CF graduate obtains at graduation...not the
institution they might end up at, but the most common job you get....
Eric H.: Pepe - investment banking associate is probably 1st, industry finance like treasurer or
controller's office is next, business development as well. Some people go to PRivate Wealth Mgmt.
Pepe: Thx Eric
Akinyemi A.: Olu J. Do i have to take TOEFL test, given that i was educated with the english language?
Julie W.: Akinyemi, yes.
Akinyemi A.: Julie. My education was in english n that is the language spoken officailly in my country.
Except there is another reason asides verify my fluency in the subject matter.
Julie W. : Akinyemi, for Toefl requirements please review at this link: