March 9, 2010
Top UI business students finding work at Wall Street investment firms
The New York Times recently reported that investment banks and Wall Street firms are again hiring young business school graduates as the financial services industry slowly comes back to life.
That's not a surprise to Brian Richman, director of the Hawkinson Institute of Business Finance in the University of Iowa's Tippie College of Business.
"All 19 of our seniors this year have accepted employment offers or been admitted to graduate school for next year," said Richman. Among the companies that have hired the Hawkinson program graduates are such major Wall Street firms as Goldman Sachs, Credit Suisse, UBS and Bank of America Merrill Lynch.
The Hawkinson graduates will also work at such firms as Houlihan Lokey, DRW Trading Group, William Blair & Co., BMO Capital Markets and Lazard Middle Market. Richman said they will hold jobs in investment banking, capital markets, sales and trading and research.
Richman said this year marks the first time that Goldman Sachs, one of Wall Street's "bulge bracket" firms, recruited on campus at Iowa.
"That's a significant recognition of the quality and quantity of students we're graduating," said Richman. "But more importantly, it expands the opportunities to a broader range of Iowa students." For the first time, he said a Tippie sophomore would be participating in a spring internship program at Goldman.
Now in its 10th year, the Hawkinson Institute of Business Finance takes some of the Tippie College's top undergraduate students and rigorously prepares them for careers in investment banking and sales and trading as Hawkinson Scholars. The program accepts students after a competitive application process, and those who are accepted have an average GPA of 3.8.
This is the second year in a row that the Hawkinson Scholars have had such an enviable placement rate. Last year, all 17 graduates from the Class of '09 had jobs upon graduation, despite the fact that the financial services industry had been riddled by the recession.
"The hiring landscape was certainly better this year," said Richman, a former investment banker himself. "But in good times or bad, the key to our students' success continues to be their focus, diligence and preparation -- through their coursework and their Hawkinson activities. It's fantastic to see Iowa students perform so well in a venue that historically has been the purview of Ivy League graduates."
STORY SOURCE: University of Iowa News Service, 300 Plaza Centre One, Iowa City, Iowa 52242-2500.MEDIA CONTACT: Brian Richman, director, Hawkinson Institute of Business Finance, 319-335-0853, email@example.com; Tom Snee, 319-384-0010 (office), 319-541-8434 (cell), firstname.lastname@example.org