Surprisingly Simple Job Search Plan (Muse)

July 28, 2015 by Rebecca Chopra

gameplan
Finding a great new job is not always easy.  Too often candidates apply online and never hear back. They are doing it all wrong.

Here is a “game plan” from writer Lily Zhang of The Muse. Great advice to focus you on planning and networking to get started (or re-energize your search.)

“One of the most important parts of really starting your job search is activating your network. People can’t help you unless they know you’re looking, so it’s time to start letting key players in your network know.”

Kick-Start Your Job Search in One Immaculate Day

Video Tutorials from Beyond B-School

July 23, 2015 by Rebecca Chopra

Beyond B-School Expert Career Advice

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Career experts share their tips and secrets in short video presentations.  You can access Beyond B-School portal for free with the CMC partnership.

>> Watch the Videos

The site hosts a range of tutorials on job search techniques.

Included in these videos, you’ll find one by Steve Dalton in the “Company Research” section.

 

Article: “An analysis of San Francisco’s startups”

July 19, 2015 by Rebecca Chopra

guzman1HR.0Article on The Verge about startups:

Startups with short, tech-related names tend to fare better. And the highest density of “high quality” entrepreneurs can be found in South San Francisco.

That’s what the data says, according to researchers at MIT, who pulled together a pretty amazing collection of charts and maps around Silicon Valley’s startup scene.

 

Read full Article

Digital Health Funding Report (Rock Health)

July 15, 2015 by Rebecca Chopra

digitalhealth

There has been strong interest in healthcare among MBAs. Student have taken roles at companies like MyFitnesspal, Augmedix, HealthIQ, Headspace, Misfit and Grand Rounds.

>>Comprehensive List of Startups

Rock Health shares the latest in Digital Health with their most recent report.

Top six category rankings for wearables and enterprise wellness were driven by single deals—Jawbone in the case of wearables, and Virgin Pulse in the case of enterprise wellness.

Read full report of digital health funding and companies

LinkedIn Headline Hacks – Get Noticed

July 8, 2015 by Rebecca Chopra

linkedin tipsIt is important to update your LinkedIn profile as you start networking. Two areas that you can tailor to market yourself to your “future” career include the headline and summary.

Headline

Utilizing your MBA status with “Stanford GSB MBA” is a great start to your headline. BrazenCareerist.com has some nice headline hacks to help you market yourself on LinkedIn.

Here are the categories and they have examples online:

Expert status headline hack formula: {Keyword/subject matter expert area} who {does what} for {client, company, audience, project}. {Proof point}.

Claim your niche headline hack formula: {Keyword(s)} | {your specific benefit or focus area}

Creative Cat – Creative cat headlines don’t have a formula, but they’re included here because they’re incredibly effective when done well. If you choose this type, your headline should include who you are, who you serve, how you benefit them and your personal style.

Did you know that you can edit and manage your endorsements? Here are instructions.

DataFox – Researching and Tracking Your Top Companies

March 5, 2015 by Rebecca Chopra

datafoxThe CMC gets lots of questions about the “hottest startups” and companies that are hiring. With thousands of new companies – it can be hard to know where to look. Building a target list of companies in your area of interest is an important part of focusing your job search.

MBAs at Stanford can get a free account with their Stanford email. Email support@datafox.co with “Stanford GSB” in the subject line and they will set you up with a free account.

Update. Video. – DataFox Co-Founder and CEO Bastiaan Janmaat was invited onto Bloomberg TV last week to discusses the origin of DataFox and the application of big data to ranking private companies.

Alumni Mike Dorsey and Bastiaan Janmaat started a company that is a great resource!  DataFox has consolidated information on companies from sources like Crunchbase, AngelList, Indeed.com, Twitter, and others.

Create a watch list and you’ll get news of the industry or topic, see the Twitter feed, and see people in your LinkedIn connections that are employees of the companies.

Other resources: Vault.com (Link to paid subscription found on MyGSB)

>> Read more about DataFox

 

 

 

The MBA1 Offer Consideration Deadline

February 4, 2015 by Becky Charvat

By now you may have completed one (or many) internship interviews, whether as a part of On Campus Recruiting or not.  For this we want to say Congrats! You’ve survived so far! And if you still have more interviews to go, hang in there, you will find your summer internship, even if you know you have a long road ahead.

Whether you’ve received an offer/offers or you’re just beginning your search, never fear, we, at the CMC, are here to help! And we’re also here to shed a little light on the offer consideration deadline.

Take note: The MBA1 Offer Consideration deadline is February 20th.

ALL organizations who recruit GSB students, whether as a part of OCR or not, are bound by the CMC’s Recruiter Conduct Policies. This includes offer consideration deadlines and incentives or changes in offer terms.  It’s important to remember that communication and positioning with the employer are key and that the CMC can help coach you through any challenging situation. 

The policies state: “Offers to first-year students can be made at any time after the AAP. The offer must be open in its entirety until February 20, 2015 or at least two weeks after the student receives the written offer, whichever is later.

Longer time frames for considering an offer are acceptable. Extreme informal pressure to accept an offer is considered a violation of these policies.”

The policies regarding incentives, start dates and changes in offer terms are:

“A job offer containing incentives such as base signing bonus, cash bonuses, performance bonuses, and tuition reimbursement must remain open in its entirety until the offer consideration deadline. Changes in offer terms including start date, job location, job function, and base salary are considered violations of the recruiting policies.”

If you’re getting pressure from an organization to accept an offer I recommend the following steps:

  1. Be honest with yourself – do you really want this offer/job? If not, decline the offer. Employers are balancing many factors and don’t appreciate being strung along.  Declining an offer can be done in way that leaves doors open for you. Click here for more information.
  2. Ask for time to consider the offer. Be appreciative and straightforward. Thank the employer for the offer, tell them it’s a big decision and you will need some time to consider.
  3. Remind the employer of the GSB policies.  There are times when employers are unaware of the deadlines or confuse them with other schools. As a FYI, Harvard’s and Wharton’s offer consideration deadlines are also February 20, 2015.
  4. Ask the CMC to get involved. As the Director, Employer Relations & Recruiting, I manage any employer policy violations.  I will confront employers with policy violations only with a student’s permission; in no way do I want to intrude on a employer-student relationship. I can be vague with an organization (meaning I don’t mention any student names) and lightly remind them of our policies, or I can be direct and warn them of their infraction.  I appreciate hearing about employers who pressure a student to accept an offer. This allows me to better coach employers and students.

Good luck! Please don’t hesitate to reach out if you have any questions.

Finance & Investment Omaha Trek: Wisdom from Warren Buffett

February 1, 2015 by Puzhong Yao

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I had the honor to lead a group of 20 GSB students from the F&I Club to visit Berkshire in January. We had a 2 hour Q&A with Mr. Buffett, had lunch at his favorite steakhouse Piccolo and also visited three Berkshire subsidiaries. Below are what we took away from the trip.

 

On sourcing investment ideas

  • “Nobody will tell you a good investment idea”
  • “At my first job at Salomon Brothers, I sold securities during the day and read Moody’s manual at night. Kept studying companies page by page. Found my first investment on page 1443 of that manual (Western Insurance). Nobody knew Western Insurance. Nobody would tell you about it even if they knew it. But Western Insurance was trading at 0.5x earnings!”
  • “Found Berkshire in Moody’s Manual for Industries. You may think that today competition has increased and information is easily available but I used the same approach to find Korean stocks a few years back. Read the Korean stock manual one Sunday afternoon and found 15-20 stocks that way”
  • Long Term Capital (LTCM) – “they were right about everything except human emotion”

 

On importance of EQ in investing

  • “Emotional stability rather than emotional intelligence are important in investing”
  • “You don’t need more than a 130 IQ to succeed in investing. If you have a 150 IQ, sell the 20 points”
  • “LTCM weren’t good at controlling themselves. Doesn’t help if you’re smart and overrate yourself”
  • “You’re destined to get rich over time if you’re reasonably intelligent and investing in the US”
  • “If your neighbor doing well by investing in technology stocks tempts you, you will never make money”
  • “There are lots of smart people on Wall Street that fail in investing and reasonably smart people that succeed”
  • “Operate in your circle of confidence, know what you know”
  • Tom Watson, IBM “I’m no genius but I’m smart in spots and I stick to those spots”
  • “Not a tough business in terms of IQ but a tough business in terms of emotions”

 

On whether the best path to success is meticulous planning or seizing opportunities as they come

  • Has to be both. “I was purposeful about going through Moody’s manual but I also jumped at the opportunity of working for Graham”
  • “Do believe in being purposeful, I think it can get you places”
  • At your age the best way you can improve yourself is to learn to communicate better. Your results in life will be magnified if you can communicate them better. The only diploma I hang in my office is the communications diploma I got from Dale Carnegie in 1952”
  • “Without good communication skills you won’t be able to convince people to follow you even though you see over the mountain and they don’t”

 

On investing in technology if he were sixteen today

  • Would definitely learn about tech, doesn’t mean he would invest in it.
  • The auto industry has been the one of the most important industries during Buffett’s investing career. He has extensive knowledge of auto. Despite that he doesn’t feel comfortable buying auto stocks. Instead he chose to buy an auto dealer with 78,000 dealerships across the US. Simply because five years from now, he doesn’t know which model will sell but he does know that the auto dealer will sell it. This is the same story in tech, Buffett does not know who the leader will be.
  • I like businesses that I can predict doing well. Who knew how big Google would become and how well they would do, nobody!”
  • “Every year I go the Microsoft Summit and face people with 180 IQs and tell them that if you asked me to choose between giving up a $10mn airplane and a $100 computer, I would choose the airplane. Why then, do you still charge me only $100 for the computer. You 180 IQs are not that smart.”
  • Unclear how monetization will occur

 

On trying to work for people you admire

  • “I told Ben Graham that I’d work for him for free. He said I’m overpriced. I kept myself on his radar screen, kept sending him investment ideas. Finally he agreed to take me on. You have to pursue it the same way you pursued your wife for marriage. In the process you will also improve yourself.”
  • “Don’t just see the investment record of the person you admire but also his character”
  • “Find the job that you’d take if you were independently wealthy. It may not happen immediately post school, but it should happen soon after. The idea of sleepwalking through life awaiting retirement is tragic. There is something out there for you. Don’t give up.’

 

On people outside the business world that inspire him / and what matters most

  • “I have 12-15 heroes in my life who have never let me down”
  • Father, Susan (wife whom he married at the age of 21), Dave Dodd, Ben Graham, Tom Murphy
  • “It is very important to associate with people who are better than you, you will move in that direction. It’s just smart to do that. Not just people who are better in terms of IQ but also people who are better in terms of character”
  • “Not sure I’ll go to Wall Street and find people I admire”
  • “I advise people to marry up, not in terms of money but in terms of character. Who you marry is going to be the most important decision in your life. Your talents, your family are things you are born with. But marriage is something you can choose.”
  • “The most important job in the world is raising a child. There are no do-overs in that job. If you do that right, irrespective of the amount of money you have, you will feel right at the age of 65-70.”
  • Quote from a friend who was in Auschwitz during World War II and got sent to concentration camp, “If you get to 75 and have friends who will hide you, you are a success”

 

On how he thinks about business problems that haven’t happened yet

  • If you have a city of 330,000 people (the number of people Berkshire employs) there are bound to be some people who are doing wrong. Try very hard to set the tone at the top. Send a two page letter to all employees every two years :

We have all the money we need. We also have the best reputation one could possibly have. If you lose money, that’s something which is easy to earn back. But if you lose reputation, it is extremely difficult to earn that back. Act in a way such that if your actions were published in the local newspaper you would not be ashamed of your neighbors and friends reading that story. Play in the center of the field. I am old and cannot see the boundaries at the edge, don’t venture there

  • If a problem does occur there are four things you need to do
    1. Get it right – get the facts right
    2. Get it fast – move to action swiftly
    3. Get it out – get it completely out of the system
    4. Get on – move on
  • Never let a problem sit unattended to (think if a trader – Moser – at Salomon that almost bankrupted the company after doing repeat offenses because no one had the guts to confront him)

 

On what he learnt from the recent financial crisis

  • Most severe panic he saw in his lifetime. The worst thing that happens during a time of panic is that people start selling what’s good, because that’s the only thing that can be sold
  • Bush did a great think by putting very qualified people in the right place and allowing them to do their work
  • At a time like that, you need strong people at the top. The three people who helped us emerge from it – Hank Paulson, Time Geithner and Ben Bernanke. Give credit to Bush for handling the crisis. The ten words that Bush said that were more important than what any economist said in history, “If money doesn’t loosen up, this sucker could go down.” Everybody (including Berkshire) was in the domino line.
  • Only way to stop a panic in today’s times is to have someone say with absolute authority, “I will do whatever it takes to make this right.”
  • “The next panic will most likely come from a cyber/nuclear/biological or chemical attack on the US. The ability of psychotics, religious fanatics etc. to impact people has tremendously increased since 1945 (atomic bombing of Hiroshima and Nagasaki)”
  • “The US will always bounce back. Our system really works, if you have cash during a time of panic, BUY”
  • Wrote an op-ed in NY times in October, 2008 advising people to buy America

 

On philanthropy if he didn’t have the resources and connections that he has today

  • Best way to engage in philanthropy if you don’t have the money is to offer your time. It is enormous when somebody has confidence in you. Bring your time, energy and empathy and impact someone’s life.
  • “David Dodd treated me like a son, spent his energy teaching me about the markets and was one of the first people to invest in my fund.”
  • You have talents in sports or music or some crafts. Don’t be afraid to use those if they’re not at world-class level.

 

On how does he read as much as he does and why it is important?

  • “No other way of learning about the things you want to learn about.”
  • Try to keep reasonably well-versed with the ~100 companies that are in my investable universe
  • Read 5 daily newspapers, 2-3 trade magazines, 10Ks and annual reports and also for pleasure
  • Try and read bios. You will always get something out of reading about successful people. Highly recommend reading Katherine Graham’s bio.
  • “Never stop reading”
  • Read biographies, it’s a great way to learn from successful people and they are typically more interesting than novels

 

On Charlie Munger

  • Met in 1959, when he was 35 and Buffett was 29. Two years earlier a doctor had given Buffett $100,000 to invest at a time when his total fund size was $500,000. Buffett thought that the doctor seemed really nonchalant about the investment. On being asked why, the doctor said, “You remind me of Charlie Munger.” Was introduced to Munger by the same doctor
  • “We disagree a lot, but we have never had an argument. His clincher to me is, “Warren you’ll end up agreeing with me because you’re smart and I’m right.” He is usually inclined to less action than I am. And he usually turns out to be right. However, once I do anything, he backs me up a 100%. We don’t even need to talk to each other anymore.”
  • “If you have 12-15 heroes in your life and good health, you will have a lot of fun in life.”

 

On women at the workplace

  • “If you take the people who have done a lot for me, 50% have been women.”
  • “Talent is so rare and precious that when you find it, you would be foolish to not capitalize on it because of gender”
  • “Surprising how the US did so well historically despite harnessing just 50% of its talent”
  • If you want to take on the cause, start at a place that has done some good work so far; otherwise you might be around to see your efforts come to fruition

 

On management incentives

  • Made sense to offer stock options to Heinz management because they would be responsible for the turnaround of the company
  • Offering Berkshire stock to the CEO of See’s Candies just because he increased profit from $70mn to $80mn does not make sense to me. As See’s is such a tiny portion of Berkshire that it is essentially a lottery ticket from See’s management’s prospective
  • “A lot of times management gets incentivized for simply retaining earnings in the business without regard to the return on capital they generate”
  • I own businesses that are easy to operate, tough to operate, require more capital, require less capital. Doesn’t make sense to have the same incentive structure for everyone

 

Planning vs Execution

  • You should always have a plan that you’re working accordingly to
  • You should in parallel always be listening to see if you need to update your plan or if there is a new plan out there that’s better for you

 

Choosing your direct manager and your job

  • Your direct manager is almost as important as the person you marry
  • Make sure you eventually end up in a job that you’re happy about. It’s fine if you don’t find it straight out of school but make sure not to lose track and start sleepwalking through life

Article – How Google attracts the world’s best talent (Fortune)

November 29, 2014 by Rebecca Chopra

goo22_2-copyInterested in Google as your future employer? Have you started researching the company? This may help you think about their hiring process and culture. Fortune published an article with an excerpt from the book “How Google Works” which talks about how they interview candidates.

They suggest interviewers should prepare and interview candidates:

Your objective [as interviewer] is to find the limits of his capabilities, not have a polite conversation, but the interview shouldn’t be an overly stressful experience. The best interviews feel like intellectual discussions between friends (“What books are you reading right now?”). Questions should be large and complex, with a range of answers (to draw out the person’s thought process) that the interviewer can push back on (to see how the candidate stakes out and defends a position).

When asking about a candidate’s background, you want to ask questions that, rather than offering her a chance to regurgitate her experiences, allow her to express what insights she gained from them.

Get her to show off her thinking, not just her resume. “What surprised you about…?” is one good way to approach this, as it is just different enough to surprise a candidate, so you don’t get rehearsed responses, and forces her to think about her experiences from a slightly different perspective. “How did you pay for college?” is another good one, as is “If I were to look at the web history section of your browser, what would I learn about you that isn’t on your resume?” Both of these can lead to a far better understanding of the candidate. They are also quite specific, which helps you gauge how well someone listens and parses questions.

Have other insights on Google? Share them with us!

CMC LINK FAQ

November 24, 2014 by Jana Cain

CMC LINK is a unique customized job resource provided by the CMC. So just what is LINK exactly? Read on to find out!

What is LINK?

LINK stands for Leveraging Insider Networking Knowledge. A few years ago the CMC Employer Relations team brainstormed ideas for how to better support students who were finding their jobs outside of OCR and the job board. After further discussion with the career advisors and a few alumni contacts, LINK was born!

Who is LINK for?

LINK is open to all MBA and MSx students, including dual/joint degree  and international students. We make a point of clarifying with companies that we can be a resource for filling their internship as well as full-time roles. We also ask them about processes for international students and experienced hires.

How does LINK work?

In a nutshell, LINK uses student company and industry preferences to guide the CMC’s outreach in uncovering desired job opportunities. We use this student data to conduct outreach with alumni and recruiters to get the scoop on job opportunities and recruiting processes within companies of interest. The Recruiting Relationship Managers (RRMs) work really hard to bring you, the students, the most relevant and up-to-date information about the companies where you want to work. We close that feedback loop through a number of channels including, email distribution lists and direct emails, newsletters, and small group forums called LINK Cafes. We also try to facilitate personalized interactions with popular companies through Hot LINKs, which are on-campus small group lunches with the company that are preceded or followed by coffee chats.

We rely on student feedback to drive our outreach efforts, so don’t be afraid to reach out to an advisor or RRM with any questions, new interests, or updates on leads that you’ve uncovered. The data we refer to also shows us which students expressed an interest in which companies, so we are able to follow-up with students individually, as needed, regarding visa sponsorship and experienced hire processes.

Can you further explain the difference between a LINK Cafe and Hot LINKs?

Sure! LINK Cafes are informal forums led by a RRM and focus on recruiting updates for a particular industry. Topics can include new job opportunities and recruiting insights. We can’t guarantee that a job is always going to be available at a hot company, however. LINK Cafes are also an opportunity for students to ask questions about where we are with our outreach, or to gain more clarity about an open role. In keeping with the relaxed, informal vibe, the CMC also provides light cafe fare (snacks, coffee, and tea).

HOT LINKs are company-specific small group lunches (provided by the CMC), designed to give students a more personal interaction with the company. Hot LINKs are typically limited to no more than a dozen students. Before or after lunch, the company will usually hold coffee chats as an opportunity for one-on-one dialogue.

This is sounding really interesting. When does LINK start?

We will be launching LINK in winter quarter. MBA2s and MSxers will start seeing LINK related announcements in early January. MBA1s will start receiving LINK communications towards the conclusion of winter OCR, at the end of January. LINK communications will continue until the end of June for MBA1s and MBA2s, and until the end of August for MSx.

LINK Cafes usually happen weekly. That is, a LINK Cafe may take place each week, but not every industry will be represented in each LINK Cafe.  Hot LINKs are bit more infrequent as they are subject to company and student availability.

Where do I go to find out when LINK Cafes and Hot LINKs are happening?

Great question! This year we will be promoting all LINK activity via the dashboard. If you have signed up for LINK, you will see announcements for when LINK Cafes and Hot LINKs will be taking place. The RRMs will also send announcements via email using industry distribution lists that we create when you sign up. If you don’t sign up for LINK, you will not receive these announcements or be able to view them on the dashboard.

What else can I look forward to as a LINK participant?

The benefits of LINK are many! For starters, LINK will give you access to jobs that won’t get posted to the job board. Often the jobs we uncover are new, and/or the hiring manager wants to be selective, so they request that the jobs not be posted to the job board. We will use LINK to promote those opportunities to students instead of posting more widely. As part of that request, we also will not be posting jobs to the club leaders. The clubs will certainly be able to continue forwarding jobs they uncover, but any roles sourced by the CMC will be posted to the LINK participants using LINK distribution lists.

Another perk is inclusion in the LINK resume books. Last year, we compiled industry-specific resume books that were shared with over 5,000 GSB alumni. We do this to give alums a heads up and reminder that we have this great talent pool they can tap to fill any hiring needs. If you’re not in LINK, you will not be included in the resume book. Note, these resume books are not the same as the class resume books that employers buy. So if you gave permission to be included in the employer resume database but do not opt-in to LINK, your resume will not be included in the LINK resume book(s).

Finally, participating in LINK will heighten your visibility within the CMC, which is key for job referrals. Oftentimes, alums will reach out seeking referrals from RRMs or advisors for specific roles. Naturally, it is easiest for us to refer students that we have interacted with regularly – which means that LINK participants tend to be top of mind for such roles.

This sounds *amazing*! How do I sign up?

LINK is opt-in only via the Career Dashboard. In the Permissions section of your profile, you will find the “LINK Communications?” question. Answer “yes” if you wish to participate. If you answer “no” or do not answer the question at all, you will not be part of LINK. You can opt in or out at any time. However, LINK is only open to students who are still seeking a position (yes, we will check!).

We also pull your company preferences from your profile.  You can update your company information in the Career Targets section of the profile. List your top five companies of choice, and we’ll handle the rest!

Anything else I should know?

CMC LINK is just one more resource you can use in your job search, but it’s not the only one. We fully expect that you will continue to utilize your personal and professional networks to connect with contacts within your companies of interest.

More information about LINK, including the overview that was presented last week, can be found here, on MyGSB: https://mygsb.stanford.edu/mba/career/your-career-campaign/job-search-pathways/just-in-time/cmc-link

Please do not hesitate to reach out to the CMC with any additional questions!