If you're a college grad looking to get into investment banking, look no further than Nomura.
The Japanese bank has been using its two-year-old university recruiting program to find top talent. In order to gain an edge in recruiting the pick of the litter over its competitors, Nomura's program promises to triple the normal starting salary for its new hires, guaranteeing them $79,000, or 6.5 million yen, annually before bonuses, compared with its normal rate of 2.4 million yen. It's modeled after a recruiting program used at Lehman Brothers before the firm's bankruptcy in 2008.
So far, Nomura has brought on 50 graduates through the program. Last year, the firm hired about 600 recent graduates, 40 of whom were brought on through the specific program. Fifteen of its hires this year have landed spots within the firm's mergers and acquisitions team as the bank staffs up in anticipation of a rise in cross-border deals this year.
To land one of the spots, the bank expects candidates to score above 860 out of 990 on the Test of English for International Communication, which is taken by about two million people in Japan each year. Japanese firms also tend to offer jobs to students earlier than Western firms, sometimes a year in advance of graduation. In the region, the academic year concludes on the last day of March, and new hires are expected to begin work the next day. (Bloomberg)
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1. Keep it short, around 30 seconds.
2. Mix in business and personal details.
3. Rehearse, rehearse, rehearse.
(Source: Forbes)
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